with Singapore - US Chamber of Commerce
with Singapore - US Chamber of Commerce
with Singapore - US Chamber of Commerce
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LETTER FROM THE U.S. CHAMBER OF COMMERCESmall businesses not only make up the majority <strong>of</strong> themembership in the U.S. <strong>Chamber</strong> <strong>of</strong> <strong>Commerce</strong>, but they alsoare a critical engine for economic growth in communitiesthroughout the United States. We are proud to provide a glimpseinto the world <strong>of</strong> small business entrepreneurs who are prosperingthrough trade between the United States and <strong>Singapore</strong>.Why <strong>Singapore</strong>? Simple! <strong>Singapore</strong> is the United States’ largestbusiness customer in Southeast Asia and is our 11th largest tradingpartner. The country acts as a key gateway to the larger ASEANmarket and promises businesses one <strong>of</strong> the most open, well-regulated,safe and secure investment climates in the world. CurrentU.S.—<strong>Singapore</strong> trade supports over 200,000 export-relatedAmerican jobs and <strong>of</strong>fers vast new opportunities for Americancompanies. The U.S. <strong>Chamber</strong> partnered <strong>with</strong> our friends at theAmerican <strong>Chamber</strong> <strong>of</strong> <strong>Commerce</strong> in <strong>Singapore</strong> to publish this bookto tell the story <strong>of</strong> free trade between our two countries.As strong as America’s ties <strong>with</strong> <strong>Singapore</strong> are, we have a chanceto make them even stronger by enacting a free trade agreement (FTA), the first FTA between the UnitedStates and any country in Asia. Currently, more than 99% <strong>of</strong> imports to <strong>Singapore</strong> enter the country dutyfree.However, a U.S.—<strong>Singapore</strong> Free Trade Agreement would immediately eliminate all remaining tariffsand <strong>of</strong>fer added market access in <strong>Singapore</strong>’s services markets.I would like to thank the business owners who took part in this project. They represent the millions<strong>of</strong> entrepreneurs who are busy today creating new business opportunities, higher wages, and better jobsthroughout the United States—and now in <strong>Singapore</strong>. They are our path to a prosperous future.Thomas J. DonohuePresident and CEOU.S. <strong>Chamber</strong> <strong>of</strong> <strong>Commerce</strong>3