U.S., S'pore trade leaps 10%

U.S., S'pore trade leaps 10%

SINGAPORE: Bilateral trade between the United States and
Singapore leapt by over 10 percent in the first year of their
free trade pact, the Ministry of Trade and Industry said
Thursday.

Singapore, which has made free trade deals a cornerstone of
its economic policy, became the first Asian country to ink such
an agreement with America in 2003. It came into force last year.

"Trade in goods and services was up more than 10 percent in
the past year to about US$40 billion (euro30.63 billion).
Investment flows also have increased," said the ministry in joint
statement with the U.S Embassy here.

"The results achieved during the first year of this
comprehensive free trade agreement send a strong signal to
nations around the world about the benefits of free trade," it
said. -- AP