Which is the best example for entrepot trade?

The best example for Entrepot trade is Singapore. Explanation: Entrepot trade occurs when a country buys goods with the sole aim of selling them to other countries.

What are the entrepot goods?

Entrepôt trade refers to the practice of re-exporting goods with or without processing or re-packaging them again. This type of trade occurs at duty-free ports, where these goods do not have additional import or export duties, or taxes, placed upon them.

Is Singapore an entrepot?

Modern Singapore, which was founded in 1819 as a port for Britain’s East India Company, became a significant ‘entrepôt‘ (or ‘trading post’) over the next 150 years thanks to its strategic position on the India-to-China trade route.

What is meant entrepot?

noun. 1. a place for the storage of goods; warehouse. 2. a distributing center for goods.

Is Hong Kong an entrepot?

Given its strategic geographical location, well-developed infrastructure and international communication network, Hong Kong plays an important entrepot role for the trade between the Mainland and the rest of the world.

How is Singapore an entrepôt?

Entrepôt activities, where goods are transhipped and sometimes processed or manufactured in the immediate area, account for about one-third of Singapore’s export trade. Notable in this capacity has been the oil-refining industry. In an attempt to foster additional trade, Singapore has become a joint-venture partner…

What is meant by entrepôt trade Class 11?

CBSE Class 11 Business Studies. natureofbusiness. prasanna January 23, 2017, 11:07am #1. Entrepot trade means importing of goods for the purpose of exporting them to other countries. In other words, it means importing (buying) goods from one country for the purpose of exporting (selling) them to another country.

What is entrepôt in business studies?

Entrepot trade means importing goods for exporting to other countries means buying goods from one country and exporting it to other countries.

Why Singapore was chosen as a British port?

The choice of Singapore was the result of the initiative and foresight of Stamford Raffles, who saw in Singapore a base to protect the China trade in times of war and to outflank the Dutch at Malacca.

What type of government is Singapore?

Unitary state

Parliamentary republic

Constitutional republic

Singapore/Government

Who is Singapore biggest trading partner?

Singapore top 5 Export and Import partners
Market Trade (US$ Mil) Partner share(%)
China 51,619 13.22
Hong Kong, China 44,377 11.37
Malaysia 41,152 10.54
United States 34,401 8.81

Who sold Singapore to the British?

On 6 February 1819, Stamford Raffles, Temenggong Abdu’r Rahman and Sultan Hussein Shah of Johor signed a treaty that gave the British East India Company (EIC) the right to set up a trading post in Singapore.

Was Singapore a free port?

THINK ABOUT THIS: Singapore’s excellent location along the Maritime Silk Road meant it was easy for traders to stop by with goods. When Singapore was set up as a free port in 1819, it allowed goods to be traded freely without anyone having to pay heavy fees.

Who made Singapore a free port?

Most of the Bugis sea traders migrated to Macassar after the Dutch made it a free port in 1847, and by 1860 the Bugis population of Singapore had declined to less than 1,000.

What is the old name of Singapore?

Temasek
Singapore was known in the 13th to 14th century as Temasek, a name also recorded in Chinese sources as Dan Ma Xi, a country recorded as having two distinct settlements – Long Ya Men and Ban Zu. It changed its name to Singapura perhaps towards the end of 14th century.

What country owns Singapore?

Singapore became part of Malaysia on 16 September 1963 following a merger with Malaya, Sabah, and Sarawak. The merger was thought to benefit the economy by creating a common, free market, and to improve Singapore’s internal security.

Who controls Singapore?

Singapore
Republic of Singapore show Three other official names
Demonym(s) Singaporean
Government Unitary dominant-party parliamentary republic
• President Halimah Yacob
• Prime Minister Lee Hsien Loong