Impact of Annexation of Crimea on Bilateral Trade between Singapore and Russia

Mr Gan Thiam Poh asked the Minister for Trade and Industry whether bilateral trade between Singapore and Russia will be affected by the annexation of Crimea by Russia and, if so, how much will the impact be.

The Senior Minister of State for Trade and Industry (Mr Lee Yi Shyan) (for the Minister for Trade and Industry): Madam, in 2013, bilateral trade between Singapore and Russia accounted for 0.7% of Singapore's total trade with the world. It is still too early to tell if recent developments in the Crimean peninsula will affect trade between Russia and Singapore.