Minister for Trade and Industry Gan Kim Yong and US Trade Representative Ambassador Katherine Tai co-chaired the Joint Committee Meeting of the US-Singapore Free Trade Agreement, celebrating 20 years of robust economic partnership.
On April 30, 2024, Minister for Trade and Industry Gan Kim Yong and US Trade Representative Ambassador Katherine Tai led the Joint Committee Meeting of the United States-Singapore Free Trade Agreement (USSFTA) in Washington, DC. This year marks the 20th anniversary of the USSFTA, a testament to the enduring economic and commercial partnership between the two nations.
During the meeting, both representatives emphasized the strategic and commercial significance of the USSFTA. They discussed ongoing efforts to support businesses from both countries, particularly focusing on Micro, Small and Medium-Sized Enterprises (MSMEs). The discussions highlighted initiatives in digital economy enhancements and trade facilitation, including the adoption of paperless trading systems and strategies to bolster supply chain resiliency.
Minister Gan highlighted the importance of the USSFTA in fostering a strong economic relationship with the US. “Singapore is pleased to commemorate the 20th Anniversary of the US-Singapore Free Trade Agreement, which has been a cornerstone of our economic and commercial partnership with the US,” he stated. The minister also noted the importance of digital tools in facilitating trade and expressed a commitment to further bilateral cooperation to unlock more opportunities for businesses and citizens.
In addition to celebrating the milestone anniversary, Minister Gan and Ambassador Tai discussed recent developments in international trade and the outcomes of the 13th WTO Ministerial Conference held in Abu Dhabi. They reaffirmed their commitment to enhancing the World Trade Organization (WTO) to better meet its foundational objectives and to continue cooperation at regional and multilateral forums.
This meeting underscores the strong partnership between Singapore and the US and their shared commitment to advancing global trade through enhanced cooperation and innovative solutions.
Source – MTI
