Statement of Administration Policy: H.R. 2739 - United States-Singapore Free Trade Agreement Implementation Act

STATEMENT OF ADMINISTRATION POLICY

(House)

(Rep. Delay (R) TX and Rep. Rangel (D) NY)

The Administration strongly supports H.R. 2739, which will implement the U.S.-Singapore Free Trade Agreement (FTA), as signed by the United States and Singapore on May 6, 2003.

The U.S.-Singapore FTA advances U.S. national economic interests and meets the negotiating principles and objectives set out by Congress in the Trade Act of 2002. This agreement levels the playing field for American companies that do business in Singapore. Singapore has signed or is negotiating free trade agreements with Japan, Canada, Australia, New Zealand, and others. Without this agreement, U.S. workers and businesses could be placed at a competitive disadvantage.

This FTA provides tariff-free access to Singapore for all U.S. goods, including textile and agriculture products. It opens opportunities for U.S. services businesses, and addresses other barriers to trade. It breaks new ground in areas such as e-commerce, intellectual property rights, customs procedures, and regulatory transparency.

The U.S.-Singapore FTA builds on a strong economic and security relationship with a long time partner and will strengthen those ties. As the first U.S. FTA with an Asian-Pacific country, provisions in this agreement will serve as the foundation for agreements with other countries in the region.