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United States - Singapore Free Trade Agreement

United States of AmericaUnited States of America

Area of Cooperation

Goods, Services (Telecommunications, Financial Services Excluded Air Transportation), Government Procurement, Investment, Competition Policy, Intellectual Property, Dispute Settlement, Trade Facilitation, Labor Mobility, Labor and Environmental Standards

Sign Date

January 1, 2003

In Force Date

December 31, 1969

Summary

The first FTA signed by President Bush, the US-Singapore Free Trade Agreement, expands the United States market access. Upon entry, Singapore will eliminate all tariffs on US goods. The United States’ 15th largest trading partner is Singapore.  The agreement contains both WTO-plus and NAFTA-plus commitments thus giving it the reputation as a landmark agreement.  It is also the first FTA between the United States and an Asian country.   The agreement will support US growth and support its establishment of other agreements with ASEAN countries.

http://www.fta.gov.sg/fta/pdf/FTA_USSFTA_Agreement_Final.pdf

Scope

                                                               i.      Cross - Continental Bilateral

 
Rules of Origin

                                                               i.      Change in tariff classification

                                                             ii.      Minimum content between 30-60% depending on the product

                                                            iii.      No specific process necessary

 
Contingency

                                                               i.      Anti - Dumping : Allowed under domestic law principles

                                                             ii.      Countervailing Duties : Allowed under domestic law principles.

                                                            iii.      Safeguards : Allowed, linked to WTO Agreement on Safeguards requirements.

 
News/Studies

                                                               i.      “Evaluating Environmental Issues in the US-Singapore FTA”                                      http://www.carnegieendowment.org/publications/index.cfm?fa=view&id=1248

                                                             ii.      “US, Singapore jubilant over increased trade and investment for FTA”            http://asia.news.yahoo.com/070511/kyodo/d8p2csqo2.html

                                                            iii.      United States and Singapore Welcome Increased Trade and Investment from Free Trade Agreement”     http://www.harolddoan.com/index.php?name=News&file=article&sid=4456

                                                           iv.      “S’pore – US FTA a boost to bilateral trade, has potential to grow”                           http://www.channelnewsasia.com/stories/singaporebusinessnews/view/274144/1/.html

                                                             v.      “US-Singapore Trade Up 19% in 2006”
http://www.industryweek.com/ReadArticle.aspx?ArticleID=13677

                                                           vi.      United States and Singapore Hold Second Annual FTA Review”                                 http://www.ustr.gov/Document_Library/Press_Releases/2006/March/United_States_Singapore_Hold_Second_Annual_FTA_Review.html

 
Additional Links

                                                               i.      http://www.worldtradelaw.net/fta/agreements/ussingfta.pdf

                                                             ii.      http://singapore.usembassy.gov/us-singfta.html

                                                            iii.      http://www.iesingapore.gov.sg/wps/portal/!ut/p/kcxml/04_Sj9SPykssy0xPLMnMz0vM0Y_QjzKLN4g3Cw0ASYGY5oFm-pFoYo4YImah3phiIWEIMV-P_NxU_SB9b_0A_YLc0NDQiHJHANlXFFM!/delta/base64xml/L3dJdyEvd0ZNQUFzQUMvNElVRS82XzBfNlYw