| |
| |
![]() |
| |
|
| |
|
| |
|
SINGAPORE: The fourth annual review of the United States-Singapore Free Trade Agreement (USSFTA) was held on October 10, via video conference.
It was co-chaired by Singapore's deputy secretary for trade, Ministry of Trade and Industry (MTI), Ms Koh Lin-Net, and assistant US trade representative, Ms Barbara Weisel.
The USSFTA is the first comprehensive American free trade agreement with an Asian nation.
Bilateral trade between the two countries has increased by almost 40 per cent since the agreement came into force in 2004. Trade totalled S$88.1 billion in 2007.
Bilateral investment flows also recorded a significant increase, with latest figures showing investment flows rising 22.4 per cent to S$46.1 billion in 2006.
MTI said that during the review, officials on both sides welcomed the USSFTA's continued progress in boosting flows of goods, services and investment in both directions.
Discussions covered a wide range of issues such as market access for goods, customs administration, environmental cooperation, and intellectual property.
Officials on both sides also noted that the continuing benefits of the FTA send a strong signal to the world on the importance of free trade in generating economic opportunities and enhancing economic growth.
- CNA/so
|
