Release Date: Apr 28, 2003Contact: 888-249-NEWS
Chamber Promotes Close U.S.-Singapore Ties
View the publication, Faces of Trade with Singapore
WASHINGTON, D.C. – The United States Chamber of Commerce today released its publication, "Faces of Trade with Singapore: Small Business Success Stories." Published in concert with American Chamber of Commerce in Singapore, the book highlights the success of 20 American small businesses and the benefits small businesses will gain through passage of the U.S.-Singapore free trade agreement.
"Increased access to Singapore's markets will benefit all American businesses, from the Midwestern farmer to the high-tech executive," said Myron Brilliant, Chamber vice president for Asia. "Momentum is building in Congress for passage of the U.S.-Singapore free trade agreement. For small companies, a vote for the free trade agreement is about gaining greater access to Singapore's market and increasing employment here at home."
Trade between the U.S. and Singapore totaled $33 billion last year, making Singapore the 11th largest U.S. trading partner worldwide. The United States is the top export market for Singapore and 330 American companies have located their Asian regional headquarters in Singapore.
The U.S.-Singapore free trade agreement calls for Singapore to immediately eliminate all remaining tariffs, remove trade and investment barriers, increase intellectual property rights protections and provide added access to its financial services, information technology and architectural, engineering and legal markets. Its approval will mark the first time the U.S. has signed a free trade agreement with any country in Asia and serve as a model for other trade agreements in the region.
The "Faces of Trade" book was unveiled at a conference hosted by the Chamber to promote the benefits of the U.S.-Singapore and U.S.-Chile free trade agreements. The Honorable George Yeo, Singapore's Minister of Trade and Industry, delivered the keynote address at the event, which was attended by lawmakers, business leaders and policy experts.
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.