US-Singapore FTA Business Coalition

1101 17th Street NW Suite 411
Washington, DC 20036
Tel (202) 289-1911
Fax (202) 289-0519

Above: H.E. Goh Chok Tong, Prime Minister of Singapore, addresses the US-Singapore Free Trade Agreement Coalition at a May 6, 2003 reception. Prime Minister Goh and President Bush signed the US-Singapore Free Trade Agreement earlier that afternoon. Click here for more information.

Above: In a January 28, 2003 interview with the US-ASEAN Business Council, H.E. Chan Heng Chee, Singapore Ambassador to the United States, and the Hon. Franklin Lavin United States Ambassador to Singapore, discuss U.S.-Singapore Free Trade Agreement. Click here to see the interview

Above: Singapore Minister of Trade and Industry George Yeo, and United States Trade Representative Robert Zoellick, address reporters in Singapore on November 19, 2002. Negotiations on a US-Singapore Free Trade Agreement were completed on January 15, 2003, when the last remaining sticking point in the agreement -- pertaining to the use of capital controls in the event of a financial crisis - was resolved. (Reuters photo)

CO-CHAIRS

Robert W. Haines
Exxon Mobil Corporation

Robert Bauerlein
The Boeing Company

Arnold F. Wellman
United Parcel Service

STEERING COMMITTEE

AmCham Singapore
American International Group, Inc.
Amway Corporation
APL Limited
Automotive Trade Policy Council
The Boeing Company
Citigroup
Coalition of Service Industries
Edison Mission Energy
Exxon Mobil Corporation
Federal Express Corporation
General Electric Company
Lockheed Martin Corporation
Merck & Co., Inc.
3M
PhRMA
Unocal Corporation
United Parcel Service
US-ASEAN Business Council
U.S. Chamber of Commerce

SECRETARIAT

US-ASEAN Business Council

CONGRESSIONAL COMMITTEE

U.S. Chamber of Commerce

FINAL TEXT OF US-SINGAPORE FREE TRADE AGREEMENT IS NOW AVAILABLE The Office of the U.S. Trade Representative (USTR) has made the entire text of the proposed U.S.-Singapore Free Trade Agreement (FTA) available. It is an 800-plus page document spanning the 21 chapters of the FTA. It includes the agreement's complete timetables for eliminating duties on bilateral trade, rules of origin for goods and the detailed schedules of commitments in services and investment, including financial services.

PRESS RELEASE: The US-ASEAN Business Council welcomes the passage of the US-Singapore Free Trade Agreement and applauds both houses of Congress for their strong bipartisan support of the trade deal August 1, 2003

PRESS RELEASE: White House Press Release: President Signed U.S.-Singapore Free Trade Agreement May 6, 2003

PRESS RELEASE: U.S.-Singapore FTA Business Coalition Enthusiastically Endorses Trade Deal; Pledges to Work Hard for Congressional Approval January 16, 2003

About The US-Singapore FTA Business Coalition

The US-Singapore FTA Business Coalition is a group of approximately 75 leading U.S. companies and trade associations that support the conclusion and passage of a US-Singapore Free Trade Agreement.

A major strategic trading partner of the United States and one of America’s closest friends, Singapore has one of the most open, well-regulated, safe and secure investment climates in the world. As a result, more than 1300 American companies have a presence in Singapore, and about 330 of these have made Singapore their regional business headquarters in Asia.

U.S. exports to Singapore total $18 billion dollars, and two-way trade between the U.S. and Singapore, our 11th largest U.S. export market, totaled $33 billion in 2001. Total American investment in the country stands now at $23 billion dollars.

The USSFTA will make this remarkably productive relationship even closer.

American companies have a great deal to gain in the USFTA. For this reason, it is important that negotiations yield a good, comprehensive agreement that benefits American firms and workers, and complements ongoing regional and multilateral trade and investment liberalization efforts.

Such an agreement will garner the support necessary for final passage of the USFTA on Capitol Hill and spur the global trade agenda.

The coalition is confident that, after appropriate consultation with all affected parties, an agreement can be reached which reflects interests of U.S. manufacturers, service providers, farmers, and workers.

CLICK HERE FOR A FACT SHEET ON THE US-SINGAPORE FREE TRADE AGREEMENT

OTHER MATERIALS:

House Democratic Whip Hoyer Announces Support for Chile and Singapore FTAs, July 14, 2003
List of US-Singapore FTA Coalition Member Companies (MS Word) as of July 11, 2003
Opening Statement of Charles E. Grassley Senate Finance Committee Consultative Consideration of the U.S.-Singapore and U.S. Chile Free Trade Agreement Implementation Acts, (PDF Document) US Senate Committee on Finance, Jul 10, 2003
US Senate Finance Committee Review of US-Singapore & US-Chile FTA Implementation Acts by Sen. Max Baucus , (PDF Document) US Senate Committee on Finance, Jul 10 2003
U.S.-Singapore Memorandum of Intent on Environmental Cooperation, May 16, 2003
Joint Statement of the United States and Singapore on the MOI, U.S. Dept of State, May 16, 2003
More Information on US-Singapore FTA, USTR, May 9, 2003
Dear Colleague Letter by Co-Chairmen Congressman Weldon and Congressman Ortiz, Apr 9, 2003 (PDF Document)
Letter to Congress by Co-Chairmen Congressman Weldon and Congressman Ortiz encouraging to join the US-Singapore FTA Caucus (PDF Document)
FTA Timeline: Next Steps for the US-Singapore FTA (MS Word)
Singapore Free Trade Agreement: USTR Trade Advisory Committee Reports USTR, Feb 28

Reasons to Support the US-Singapore Free Trade Agreement:

When it comes to business, Singapore is our biggest customer in Southeast Asia. Total American investment in Singapore stands now at $23 billion and U.S. exports to Singapore at $18 billion.
Singapore is the 11th largest U.S. export market worldwide. Two-way trade between the U.S. and Singapore in 2001 totaled $33 billion.
Singapore has one of the most open, well-regulated, safe and secure investment climates in the world. It is consistently rated among the most competitive economies in the world. (It is ranked #2 in the 2001 World Competitiveness Yearbook and #4 by the World Economic Forum.)
More than 1300 American companies have a presence in Singapore, and about 330 of these have made Singapore their regional business headquarters.
Singapore is one of our best friends in Asia. Singapore expressed early and unequivocally support for the United States and the War on Terrorism following the events of September 11. Singapore's support then and since has been unwavering. It has been a model of cooperation on anti-terrorism efforts.
The U.S.-Singapore FTA will enhance mutual interests in a stable, prosperous ASEAN and East Asia and will further strengthen the partnerships across the Pacific.
The agreement will represent the new economy, focusing on removing Singapore restrictions on a wide range of services, including high technology sectors such as engineering, medical, information technology, environmental, legal, financial, education and distribution.
Investment in Singapore can strengthen the region as an integrated production space, and help anchor America's leadership in the global manufacturing operations of Southeast Asia.
With the bilateral relationship, the US and Singapore can put in place systems and procedures to ensure that only legitimate goods can claim preferential treatment under the FTA. The exchange of information will be increased so that both sides can use risk management techniques to block illegal trade.
The United States-Singapore Free Trade Agreement will send a strong signal that the United States intends to remain heavily engaged in Asia for a long time to come in business, economics, security and international politics.
The FTA will stand as a model for other bi-lateral trade agreements in the region and in multilateral forums.
The U.S.-Singapore FTA will contribute to regional and global trade liberalization and strengthen the multilateral trading system.
The agreement can serve as a significant step toward a future US-ASEAN FTA, a PAC-5 Agreement, and realization of APEC's "Bogor Vision" under which APEC's 21 members are working toward "free and open trade in the Pacific" by 2010 for developed countries, and 2020 for developing countries.