with Singapore - US Chamber of Commerce

LETTER FROM THE U.S. CHAMBER OF COMMERCESmall businesses not only make up the majority of themembership in the U.S. Chamber of Commerce, but they alsoare a critical engine for economic growth in communitiesthroughout the United States. We are proud to provide a glimpseinto the world of small business entrepreneurs who are prosperingthrough trade between the United States and Singapore.Why Singapore? Simple! Singapore 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 of the most open, well-regulated,safe and secure investment climates in the world. CurrentU.S.—Singapore trade supports over 200,000 export-relatedAmerican jobs and offers vast new opportunities for Americancompanies. The U.S. Chamber partnered with our friends at theAmerican Chamber of Commerce in Singapore to publish this bookto tell the story of free trade between our two countries.As strong as America’s ties with Singapore 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% of imports to Singapore enter the country dutyfree.However, a U.S.—Singapore Free Trade Agreement would immediately eliminate all remaining tariffsand offer added market access in Singapore’s services markets.I would like to thank the business owners who took part in this project. They represent the millionsof entrepreneurs who are busy today creating new business opportunities, higher wages, and better jobsthroughout the United States—and now in Singapore. They are our path to a prosperous future.Thomas J. DonohuePresident and CEOU.S. Chamber of Commerce3