Speeches

International Dental Exhibition & Meeting (IDEM)
Remarks by Ambassador Patricia L. Herbold
Suntec Convention Centre
April 7, 2006

Thank you, Scott.  It’s a pleasure to join you all this morning.  As the United States Ambassador, I am delighted to support your participation in IDEM 2006.

Singapore is a wonderful place to do business.  I’m guessing you already know that, or you wouldn’t be joining me for coffee this morning.   I realize that Asia is a long flight from the United States.  In fact, that’s the toughest thing about doing business in this region - conquering the distance across the Pacific.

But – you’re here at a good time and for a good reason:  Asia-Pacific is the fastest growing region in the world for dental equipment.

One message I hope you’ll take away from my remarks is very simple:  the United States is here to stay in Asia.  Our strong and growing economic and commercial relationships in the region reflect our commitment to Asia and our successes in its markets.

Nowhere is that commitment more prominent than in our relations with Singapore.  A little over two years ago, in January, 2004, the Free Trade Agreement between the United States and Singapore entered into force.  This ground-breaking agreement, referred to as an FTA, was the first FTA in Asia for us and was the most comprehensive FTA the United States had ever undertaken in terms of the breadth and extent of commitments.  The agreement set the standard for the later FTA we entered into with Australia and for FTAs now being negotiated with other countries in the region, including Malaysia.

The FTA has been good for U.S. business.  In 2004, U.S. exports to Singapore rose by 18 percent, a $3 billion increase.  In 2005, U.S. exports to Singapore increased by another 5 percent.  The FTA has had other benefits that aren’t as easy to measure in dollars, but are very important.  For example, the strengthening of Singapore's intellectual property protection regime means that U.S. businesses can trade and invest here in very high-end products with confidence that their intellectual property will be safeguarded.

Singapore is a healthcare hub for the region and wants the healthcare sector to grow even larger.  It has a strong reputation for top-notch facilities and care-providers across the board.

Dental surgeons, orthodontists and dental practitioners have seen a steady increase in foreign patients seeking dental services here in Singapore.  These patients are confident that Singapore offers high quality care using state of the art equipment, much of which comes from the United States.

In fact, U.S. technology and ingenuity is leading the way.  At present, the U.S. has the largest share at 38 percent of the dental equipment import market in Singapore.  Last year, U.S. dental equipment manufacturers exported more than $25 million worth of products to Singapore and exports have consistently risen over the last few years.

For IDEM 2006, there are a total of 27 U.S. exhibitors.  This remarkable number reflects a great understanding of the market opportunities in Singapore and appreciation for Singapore's role as a regional gateway.  Your participation here also shows that you recognize Singapore’s regional reach and that IDEM is an ideal platform to locate business opportunities into Asia’s growing markets.

My Foreign Commercial Service team, Scott and Luanne, is here to support you.  We are glad you’re here, and wish you tremendous success at IDEM.   Thank you.