Last Sunday (Oct 4), the Singapore government signed the Trans-Pacific Partnership (TPP) agreement with eleven other countries. According to Singapore state media reports, the deal will allow local exporters to have better access to more markets and open up more opportunities for Small and Medium Enterprises (SMEs) in TPP countries.

Employment laws must be standardized according to the TPP agreement and this includes a Minimum Wage. Currently, Singapore does not have a Minimum Wage. It remains to be seen if the Singapore government will adhere to the agreement by introducing Minimum Wage.

The exact details of TPP is still shrouded in secrecy and attention has been focused on the flow of unskilled workforces in respective countries as an influx of cheap foreign labour will threaten local wages of developed countries.

You may read the summary of TPP made by United States here.