Dr Koh Poh Koon, Senior Minister of State for Trade and Industry was speaking on a panel discussing the future of trade at SMU yesterday. He said that in an age of technological disruption, Singapore must be open to bringing in foreign talent to help transform businesses here. The discussion was part of the 10th anniversary celebration of SMU’s International Trading Institute, which was founded as a specialised education institute for the trade and maritime industry.

Responding to a question by panel moderator SMU Vice President, Office of Business Development, Professor of Finance Annie Koh, who is the Institute's Academic Director, Dr Koh said the wholesale trade industry represents 16 per cent of Singapore's economy and hires around 9 per cent – or more than 300,000 people – of its workforce. This industry is also expected to grow further, and the rising labour demand could also absorb displaced workers from other industries that are hit by disruption. He called for employers in the trade sector to be willing to hire professionals from other fields, and for workers to keep an open mind about joining it, even if they lack experience.