Chamber Welcomes Conclusion of Singapore Free Trade Deal

WASHINGTON, D.C. – The United States Chamber of Commerce today welcomed the completion of the negotiations for a U.S.–Singapore Free Trade Agreement (FTA), reserving final support until the agreement is available for review. The Chamber congratulates the U.S. and Singaporean governments for working tirelessly for over two-years to complete the agreement.

"When implemented, the FTA will help boost bilateral trade and investment on an mutually beneficial basis," said Chamber Senior Vice President for International Affairs Willard Workman. "It is also a significant step towards demonstrating U.S. commitment to trade liberalization in the Asia-Pacific region and enhancing U.S. economic competitiveness."

Bilateral trade between the United States and Singapore reached $33 billion last year. Globally, Singapore is the 11th largest U.S. export market and the United States is the top export market for Singapore. The agreement will pave the way to a further expansion of trade ties.

"We are looking for the FTA to provide additional access for American companies in financial and professional services, greater protection for investment and intellectual property rights, as well as bilateral cooperation in customs and business facilitation," said Workman. "Once we verify that the agreement is adequate in these priority areas, and we have confidence that it would, the Chamber will be a forceful advocate of the agreement and will lead the charge to mobilize our members to help secure Congressional passage of the FTA."

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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