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Laurel Delaney

Why Engage With Singapore?

By November 18, 2011

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Singapore Airport

According to David Adelman, U.S.A. Ambassador to Singapore, two-way trade between the United States and Singapore is up more than 45 per cent and US exports to Singapore are up more than 72 per cent. This spectacular growth is largely a result of the FTA agreement between the US and Singapore and the fact that the World Bank Group has Singapore ranked highly in all categories for ease of doing business.

Singapore-U.S.A. (2003):

The United States and Singapore signed a Free Trade Agreement (FTA) on May 6, 2003, which entered into force on January 1, 2004. Since 2004, exports from the United States through 2008 increased 73 percent, with steady growth in exports of medical devices, machinery, and construction equipment. The United States and Singapore meet annually to review the implementation of the FTA and to seek to resolve outstanding trade issues.

Source: Export.gov - FTA/Singapore

Read ASEAN's free trade links with US gain prominence

To refresh your memory: Free trade agreements (FTAs) improve foreign market access for exporters, promote economic growth and create jobs.

Related article:

Singapore: The Entrepreneurial Capital of the World

Photo courtesy: ©Laurel Delaney 2011, Singapore Changi Airport, licensed to About.com, Inc.

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