Washington, 14 May 2024(TDI): United States Trade Representative Katherine Tai and Singapore Minister of Trade and Industry Gan Kim Yong co-chaired the US-Singapore Free Trade Agreement (FTA) Joint Committee meeting in Washington.
This meeting marked a tripling in their bilateral trade over the past two decades, to discuss the implementation of Chapter 18(Environment) of the US-Singapore FTA.
The primary purpose of the Free meeting is to analyze the progress made for the implementation of obligations under the Environmental chapter(18) of FTA.
The aim is to exchange views and recent actions taken from each side on the various domains such as establishing high levels of environmental protection, enacting environmental laws and regulations, and providing opportunity to the the the public for implementation of Environmental Chapter.
Moreover, the meeting served as an important opportunity to strengthen bilateral trade between the two states and emphasized the importance of using resources sustainably and addressing environmental challenges.
The representatives from both countries in the Free Trade Joint Communique emphasized the crucial need for cooperative efforts in trade and presented several ways to advance the supply chain.
Additionally, they exchanged views on pressing global issues, such as marine litter, timber trade, innovation in recycling, and solid waste management.
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History of FTA
The first Free Trade Agreement was signed in October 2003 and was implemented in January 2004. The Republic of Singapore was the first Asian country of which the United States made an FTA to ensure its presence in the Indo-Pacific region. Ambassador Katherine Tai and Singapore Minister of Trade Gan Kim Yong commemorated the 20th anniversary of the US-Singapore FTA.
Previously, the Singapore Minister of Trade and Industry stated unequivocally during a meeting that the Free Trade Agreement (FTA) has brought immense benefits to both Singapore and the United States by promoting trade between the two countries. The FTA has been the foundation of our economic and commercial relationship over the last twenty years.
The US Representative Katherine Tai also highlighted the importance of FTA with Singapore and reaffirmed that her country helped Singapore to address environmental issues.
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