U.S.-Singapore Free Trade Agreement

Text: Clinton-Goh Statement On U.S.-Singapore Free Trade Agreement

(FTA will encourage broader multilateral agenda) (320)

President Clinton and Prime Minister Goh Chok Tong released a joint statement November 16 announcing their plans to enter into a bilateral free trade agreement (FTA) by the end of the year.

Negotiations for the agreement will focus on removing all barriers to trade in service sectors and expanding opportunities in the information technology-driven "new economy" for the United States and its largest Southeast Asian trading partner.

In the statement, the two sides also reaffirmed their commitment to the broader goals of the Asia-Pacific Economic Cooperation (APEC) forum for free and open trade and investment in the region and to the efforts of the World Trade Organization to further the multilateral trading system.

Following is the text of the joint Clinton-Goh statement on the U.S.-Singapore FTA:

(begin text)

THE WHITE HOUSE

Office of the Press Secretary

(Bandar Seri Begawan, Brunei Darussalam)

For Immediate Release

November 16, 2000

JOINT STATEMENT BY PRESIDENT BILL CLINTON

AND PRIME MINISTER GOH CHOK TONG ON A

UNITED STATES-SINGAPORE FREE TRADE AGREEMENT

The United States of America (USA) and Singapore have agreed to start negotiations on a bilateral Free Trade Agreement (FTA).

USA and Singapore are both firm supporters of the Asia-Pacific Economic Cooperation (APEC), and are committed to APEC's Bogor Goals of free and open trade and investment by 2010 for industrialized economies and 2020 for developing economies.

The USA and Singapore reaffirm their strong commitment to the multilateral trading system and the launch of a New Round in 2001.

The FTA will be modeled after the US-Jordan FTA.

We have directed Ambassador Charlene Barshefsky and Minister George Yeo to endeavor to conclude negotiations before the end of the year.

(end text)

(Distributed by the Office of International Information Programs, U.S. Department of State. Web site: http://usinfo.state.gov)

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