United States and Singapore Sign Free Trade Agreement
June 10, 2003
By: Lawrence M. Friedman
On May 6, 2003 the United States and Singapore signed a free trade agreement between the two countries. The agreement is the first between the United States and an Asian country, and expands access in goods, services, investment, government procurement, labor rights, the environment, and intellectual property.
Once ratified, the agreement will provide for zero tariffs immediately on United States imports into Singapore, and staged tariff rate reductions for goods of Singapore entering the United States. The agreement also provides for substantial improvement in access for United States service providers and United States investors in Singapore. Congressional approval of the agreement is expected to uncontroversial.
Please feel free to contact us for more information regarding the application of this agreement to your imports from Singapore.