U.S. Singapore Free Trade Agreement

EPF309 02/05/2003
Singapore Free Trade Agreement May Be Key To Opening Asian Markets
(Ambassador Frank Lavin on U.S.-Singapore Free Trade Agreement) (280)

By Kristofer Angle
Washington File Staff Writer

Washington -- The recently agreed to Free Trade Agreement (FTA) between the United States and Singapore is a "terrific opportunity for U.S. businesses to plug in and play a more active role in the ASEAN economy," according to U.S. Ambassador to Singapore Frank Lavin.

The Association of South East Asian Nations (ASEAN) includes Singapore and is home to about 500 million people, he noted during a trip to Washington, D.C. to discuss the FTA with business people in Washington and New York.

During a January 28 interview with U.S.-ASEAN Business Council, Lavin said Singapore understands "trade liberalization is the only way to go."

Singapore is a strategic market, the ambassador said, "not because of size but because of ease of entry."

Lavin explained that Singapore is not only English speaking and highly educated, but also business friendly.

The U.S.-Singapore FTA, Lavin said, will build upon and improve relations between the two countries.

Supporters of the agreement note that U.S. exports to Singapore amount to $18 billion. This is more than is sold to all of Africa.

Lavin sees bilateral trade agreements like the U.S.-Singapore FTA remaining popular in the near future. While single nations can slow the World Trade Organization (WTO), bilateral agreements are more flexible and take into account the different needs countries have while advancing the cause of free trade, he said.

Lavin was sworn in as U.S. Ambassador to Singapore in August 2001. He has extensive background in Asia.

(The Washington File is a product of the Office of International Information Programs, U.S. Department of State. Web site: http://usinfo.state.gov)