SINGAPORE

FROM THE REDACTION

It was established in 1819 as British trade colony. In 1963 it joined Malaysian Federation but two years later it separated from it and became independent.

Singapore became the most prosperous country in the world that has solid international trade relations. The country’s GDP per person is commensurable with the indicators of the leading Western European countries.
Singapore has a highly developed and successful free market economy, stable prices and remarkably uncorrupted environment. The economy’s condition is for the most part dependent on export. Fiscal stimulators, low interest rate, export growth and internal flexibility contributed to the country’s economic growth, GDP indicator in 2004 was 8%, this is the best indicator since 2002. Inflation rate in the country makes up 1,7%.
In 2003 Singapore concludes a free trade agreement with Australia. After the agreement trade and investment conditions improve. In Singapore there is a favorable investment environment based on stable economic foundation.