U.S. Chamber Launches U.S.-Singapore Commerce Pact

WASHINGTON, D.C. — United States Chamber of Commerce President Thomas Donohue and Singapore Minister of Trade and Investment Brig. Gen. George Yeo today unveiled a new program to help U.S. and Singapore life sciences and information technology companies develop long-term business relationships.

"This program will make it easier for U.S. companies, especially smaller firms, to tap the considerable business potential in Singapore," said Donohue. "The potential is real, but it can only be realized by pinpointing opportunities, forming alliances and closing business deals, and that's exactly what this program will do."

The U.S.-Singapore Business Partnership Program, funded by the government of Singapore, will help small and medium-sized firms in both countries undertake profitable trade and investment ventures through an Internet-based business development system (www.uspartnersingapore.com) and personalized off-line services.

As many as 1,000 U.S. and 300 Singaporean firms are expected to participate in the program, which will be managed by the U.S. Chamber in partnership with the Singapore Trade Development Board, an agency of the Singapore government. The Chamber also will collaborate with a range of other government agencies, trade groups, and chambers of commerce from both countries that specialize in the information technology, life sciences and biotechnology, and business sectors.

"Singapore is a world leader in R&D, training, and manufacturing, especially in the high-tech arena," said Donohue. "Its strategic Asia-Pacific location, excellent infrastructure and top-notch telecom facilities make it an increasingly attractive place to do business."

The World Economic Forum recently ranked Singapore as the second most competitive nation, after the United States.

The U.S. Chamber of Commerce is the world's largest business federation, representing more than three million businesses and organizations of every size, sector and region.

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