Tanjong Pagar Terminal in Singapore. (Photo: AFP/VNA) Hanoi (VNA) – Singapore has recently suspended all commercial trade with the Democratic People’s Republic of Korea in compliance with the UN resolution against the country’s nuclear and missile tests.
Singapore Customs said in a November 7 notice sent to traders that it has prohibited all commercially traded goods that are imported, exported from or to the DPRK, the Yonhap News Agency reported on November 16. The ban took effect from November 8.
Anyone who violates the prohibition will be liable to a fine of up to 200,000 SGD (over 147,300 USD) or four times the value of the goods traded, imprisonment of up to three years, or both.
Last year, Singapore was the DPRK’s seventh largest trade partner with the two-way trade reaching 12.99 million USD. In September, Singapore issued a travel advisory urging citizens to avoid all non-essential travel to the DPRK among escalating tensions on the Korean Peninsula fueled by the DPRK’s frequent missile tests and its advancing nuclear weapon programmes.
In August, the United States punished several companies for violating the UN sanction by working with the DPRK, including two based in Singapore.-VNA
VNA
