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The United States-Singapore Free Trade Agreement has been in force since January 1, 2004. U.S. two way goods trade totaled $37 billion in 209, up 17 percent from 2003 (the year before the FTA’s entry into force). U.S. goods exports were $21.6 billion, up 31 percent from 2003, and U.S. goods imports were $15.4 billion, up 2 percent from 2003.
The United States and Singapore held the fifth annual FTA review in December 2009 to assess implementation of the agreement. The two governments agreed that implementation remains on track and discussed ways to deepen the bilateral relationship. During the review, the two sides discussed a range of issues covered by the FTA, including trade in textiles and apparel, telecommunications, and protection of intellectual property rights.
The two sides also discussed the implementation of the environment chapter and environmental cooperation efforts. The United States and Singapore agreed to continue exchanging information on each country’s implementation efforts and how to improve monitoring of compliance with the obligations of the environment chapter.
The FTA review also provided an opportunity for labor officials from both governments to discuss labor issues and potential areas for labor cooperation. As a result, Singapore’s Ministry of Labor has expressed an interest in studying the United States’ system for mediating collective bargaining disputes and improving labor-management relations.