SINGAPORE – Trade and Industry Minister Chan Chun Sing had a virtual meeting with United States Trade Representative (USTR) Katherine Tai on Friday (March 26).
It was their first meeting following Ambassador Tai’s confirmation by the US Senate on March 18.
Mr Chan warmly congratulated Ms Tai on her confirmation as USTR and welcomed the US’ continued engagement of the region, Singapore’s Ministry of Trade and Industry said in a statement.
“They reaffirmed the robust and longstanding bilateral economic relations between the US and Singapore, underpinned by the high-performing US-Singapore Free Trade Agreement and our shared belief in upholding an open and rules-based trading system,” the ministry said.
“Mr Chan and Ms Tai looked forward to continue exploring opportunities to collaborate in forward-looking global trade issues to benefit our peoples and enterprises,” it added.
The US is Singapore’s top trading partner in services and third largest trading partner in goods.
The US is also Singapore’s largest foreign direct investor, with over S$400 billion invested in Singapore.
In turn, Singapore is the US’ largest trade partner in Asean, accounting for about a quarter of the US’ total trade with Asean’s 10 member countries.
Singapore is also the third largest Asian investor in the US.
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