By LEE U-WEN

WHILE any form of regulation can be regarded as a barrier to doing business, proper laws are necessary and serve an important purpose, Singapore Business Federation chief executive officer Teng Theng Dar said yesterday.

Addressing more than 100 senior executives from various industries yesterday, Mr Teng said that businesses welcome regulations that help maintain standards and ensure a level playing field.

'In an ever-changing marketplace, competition among companies, irrespective of size, is determined by the availability and capacity of the integrated and seamless supply chain in which companies operate,' Mr Teng said in a speech at a business luncheon during the two-day Asia-Pacific Economic Cooperation (Apec) trade ministers' meeting which ended yesterday.

'Ease of doing business - to provide cheaper, faster and easier options - is critical to business decision-making.'

Mr Teng said that the Apec Business Advisory Council (Abac), of which he is chairman this year, wants an Apec single-window system that could help simplify trade across borders and enhance connectivity in supply chains, logistics and transport.

'Ultimately, what we hope for is for non-critical and non-essential regulations to be reduced or removed, to enable businesses to grow and contribute to overall economic prosperity,' he said.

Present at the luncheon were trade ministers from all 21 Apec member economies, including US Trade Representative Ron Kirk, on his first visit to Singapore since taking on his role in March.

The 109 companies represented spanned a range of sectors including transport and logistics, oil and gas, and building and construction.

Mr Teng said: 'It is especially important that Apec is able to demonstrate leadership and its relevance to businesses. Businesses respond well to consistent and firm pro-trade and anti-protectionist policies and actions by governments.'

Earlier yesterday, the Apec trade ministers said that they would extend a commitment not to raise barriers to trade and investment by another year, until end-2010.

Singapore's Trade and Industry Minister Lim Hng Kiang praised the work of Abac, saying that its role is crucial in helping to integrate the Apec community.

'We have a group of very civic-minded, public-spirited people to help us in this endeavour,' he said. 'I think that clearly, with this nexus between Abac and Apec, we have been able to fine-tune our policies and make sure that what we do is beneficial to the business community.'

This article was first published in The Business Times.