Singapore could thus be said to rely on an extended concept of intermediary trade to entrepôt trade, by purchasing raw goods and refining them for re-export, such as in the wafer-fabrication industry and in oil refining. Singapore has a strategic port which makes it more competitive than many of its neighbours in carrying out such entrepôt activities. Singapore's trade to GDP ratio is among the highest in the world, averaging around 400% during 2008–11. The Port of Singapore is the second-busiest in the world by cargo tonnage. Singapore is scheduled to hold the 2021 World Economic Forum from 17–20 August.