Since its independence in 1965, Singapore has became one of the world's most prosperous countries, with per capita GDP equaling that of the leading nations of Western Europe. Singapore is highly ranked for its economic competitiveness, and was the world's most competitive country from 1997 to 1999 as ranked by the World Economic Forum.

Singapore's strategic location at the entrance to the Strait of Malacca has helped it to become one of the most important shipping centers in Asia. The Port of Singapore, the world's busiest in terms of shipping tonnage, is a key component of Singapore's prosperity and economic health. Singapore is a leader in manufacturing of computer components, petroleum refining, and business services.

Singapore has made an impressive recovery after the Asian financial crisis of 1997-98. The government is currently restructuring the economy by promoting higher-value-added activities in line with a "knowledge-based" economy, and by opening up protected sectors such as financial services to increase overall efficiency. Various bilateral free-trade agreements are also being negotiated to improve market access and encourage foreign investment inflows.

For more information on our Singapore affairs, please contact:
Chris Fedderson
Director, Indonesia and Singapore Affairs
cfedderson@usasean.org

In addition to our work through our Washington, DC headquarters, the Council also maintains a strong presence through our Regional headquarters in Singapore. For assistance, please contact:
Martin Hutagalung
Regional Director
Manager, ASEAN and APEC Affairs
Coordinator, Customs Working Group
mhutagalung@usasean.org

Please contact Chris Fedderson at cfedderson@usasean.org for upcoming Singapore event in the works.

more upcoming events

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more headline news

Luncheon in honor of H.E. George Yeo, Minister for Foreign Affairs

Washington, DC, April 28, 2009

The US-ASEAN Business Council welcomed H.E. George Yeo, Minister for Affairs of the Republic of Singapore on April 28 in Washington, D.C. for a luncheon and address to the Washington business and policy-making community. Minister Yeo offered an exceptional speech in which he detailed the political-economic architecture in Asia, how it is changing, and what ASEAN’s role in it is. The speech offered important observations on the essence of ASEAN and what it’s role in Asia’s architecture should be. A full transcript of the Minister’s remarks are being made available on this website. The luncheon with Minister Yeo was made possible by US-ASEAN Business Council members: The Boeing Company, The Coca-Cola Company, APL Co. Ltd, Chevron, ConocoPhillips, ExxonMobil, Fluor Corporation and Oracle Corporation. For a copy of Minister Yeo's speech, click here. Click here for a video of the Minister's speech.

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US-Singapore Business Council's Co-Chairmen:

Jeff Hofgard,
The Boeing Company

Philip Vaughn,
Fluor Corporation

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GDP: $ 227.7 billion (2007 est.)
GDP Growth Rate: 7.5% (2007 est.)

Export-Import
U.S. export to Singapore: $ 26.3 billion (2007)
U.S. import from Singapore: $ 18.4 billion (2007)

Currency Rate

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H.E. Chan Heng Chee
Ambassador of the Republic of Singapore to the United States