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FOR IMMEDIATE RELEASE

March 28, 2001


Contact:
Walter Lohman (Washington)
Stephen Pattillo(Singapore)


U.S. Business Delegation to Singapore Voices Support for Free Trade Agreement

(Singapore).
The US-ASEAN Business Council organized a business mission to Singapore this week to voice its support for the proposed U.S.-Singapore Free Trade Agreement (USSFTA). The mission also explored key areas for technical and business cooperation between Singapore and American companies. The delegation was led by Robert Bauerlein, Vice President for International Operations of the Boeing Company, and included senior executives from Unocal, Fluor, Pfizer, Lockheed Martin, Mirant, American Express, Sun Microsystems, General Electric, United Technologies, Freemarkets, Black & Veatch, and Lucent Technologies. All are members of the US-ASEAN Business Council's US-Singapore Business Committee, which Boeing chairs.

"The companies represented on this mission are major stakeholders in the U.S.-Singapore relationship. We were here to underscore the central importance to the business community of the U.S.-Singapore partnership," Mr. Bauerlein said, following the two-day program. "The U.S.-Singapore Free Trade Agreement will be a high-point in this close partnership. We strongly support the pact and will press for its speedy conclusion."

The business delegation conveyed this message to a range of government officials, including Deputy Prime Minister Lee Hsien Loong, Minister for Trade & Industry George Yeo, Minister for Education Teo Chee Hean, Minister for Communications and IT Yeo Cheow Tong, Minister of State for Defense David Lim, Monetary Authority of Singapore (MAS) Managing Director-Designate Tharman Shanmugaratnam, Chairman of NSTB and Co-Chairman EDB Philip Yeo, Chairman of TDB Stephen Lee, and Managing Director of EDB, Ko Kheng Hwa.

"The USSFTA is a major priority for us." Mr. Bauerlein added. "Beyond the significant benefits it holds for our businesses, it is just what the international trade agenda needs. We are very keen to get the trade ball rolling again. Singapore's FTA initiative and our own government's enthusiasm for it comes at a crucial time. It has the potential to really kick-start the broader trade agenda, and our meetings here make us very hopeful that a meaningful agreement between the U.S. and Singapore will be reached in a timely fashion"

The US-ASEAN Business Council has been the rallying point for U.S. private sector support for the USSFTA and input into the process. In February, it sent a letter to President Bush signed by Singapore's major U.S. trading partners and leading trade associations calling for an early resumption of talks. (A copy of the letter is available on the Council’s web site at www.usasean.org/Singapore/FTA_letter_to_president.htm).

ASEAN is the Association of Southeast Asian Nations. It comprises ten countries, 500 million people, and has a gross domestic product of $750 billion. ASEAN member countries include Brunei, Cambodia, Indonesia, Laos, Malaysia, Myanmar, Philippines, Singapore, Thailand, and Vietnam.

The US-ASEAN Business Council is a non-profit, national organization in the United States that works to promote increased trade and investment between the U.S. and the member countries of ASEAN. For information on the US-ASEAN Business Council or general information on the ASEAN region, please contact John Goyer at 202 416 6706 or visit the Council’s Web site at www.us-asean.org.

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US-ASEAN Business Council
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