For Immediate Release
Office of the Press Secretary
January 30, 2003
Message to the Congress of the United States
In accordance with sections 2103(a)(1) and 2105(a)(1) of the Trade
Act of 2002 (the "Trade Act"), I am pleased to notify the Congress of
my intent to enter into a Free Trade Agreement (FTA) with the
Government of Singapore.
The Agreement we have negotiated promotes our commitment to secure
a level playing field and open new opportunities for America's workers,
farmers, businesses, and consumers in global trade. The United States
is a party to only three out of more than 200 existing FTAs, leaving
Americans at a competitive disadvantage in many markets. With the
enactment of Trade Promotion Authority; the completion of this
Agreement; ongoing global, regional, and bilateral trade negotiations;
and the continued support of the Congress, the United States is
reasserting leadership in world trade.
United States leadership in promoting trade liberalization advances
our national interests. Free trade promotes our values by encouraging
openness, the rule of law, and respect for private property. It builds
global prosperity and strengthens security. Free trade employs the
power of markets to meet the needs of the poor and has helped lift
millions of people out of poverty by putting them on the path to
prosperity. In the extended campaign against terrorism, free trade can
be an economic ally. By helping to create opportunity and hope in
poorer societies, open trade counters those who would destroy rather
than create.
Securing open access to markets abroad is vital to the strength and
continued growth of the U.S. economy. In the previous decade, exports
accounted for 25 percent of our economic growth. They currently
support the jobs of more than 12 million Americans.
Singapore is our 11th largest trading partner with total twoway
trade in goods and services valued at $38.8 billion in 2001. This FTA
will improve opportunities for U.S. exports, growth, and investment,
while also providing increased opportunities for the people of
Singapore. This Agreement provides for substantial market access
across the entire services sector and locks in Singapore's zero tariff
rates on goods, including agriculture.
Fair treatment of U.S. goods and services is important to
increasing market access. This Agreement has, among other provisions,
specific and groundbreaking customs procedures and transparency
requirements that will promote efficiency and fairness. It also
establishes a secure and predictable legal framework for U.S. investors
operating in Singapore.
This is an agreement for the economy of the 21st century.
Inventors, performers, authors, and creative enterprises in the United
States and Singapore will benefit from enhanced copyright, patent,
trademark, trade secret, and other intellectual property rights
protection. The Agreement also contains state-of-the-art protections
for digital products and electronic commerce.
My Administration is committed to moving forward on multiple fronts
to advance environmental protection and worker rights in a credible and
responsible manner. This Agreement meets the labor and environmental
objectives provided by the Congress in the Trade Act.
In sum, free trade is a fundamental source of America's economic
vitality. This Agreement will benefit the U.S. economy through both
higher-paying jobs created by exports and lower prices paid by
consumers. It will strengthen U.S. ties with a valued economic partner
and promote America's political and security interests in an important
region.
As called for by the Trade Act, I am sending this notification at
least 90 days in advance of signing the U.S.Singapore FTA. My
Administration looks forward to working with the Congress to develop
appropriate legislation to approve and implement this Free Trade
Agreement.
GEORGE W. BUSH
THE WHITE HOUSE,
January 29, 2003.
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