[Congressional Record Volume 149, Number 17 (Thursday, January 30, 2003)]
[Senate]
[Pages S1808-S1809]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]




 REPORT ON THE INTENT TO ENTER INTO A FREE TRADE AGREEMENT (FTA) WITH 
                   THE GOVERNMENT OF SINGAPORE--PM 5

  The PRESIDING OFFICER laid before the Senate the following message 
from the President of the United States, together with an accompanying 
report; which was referred to the Committee on Finance:

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

[[Page S1809]]

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 two-way 
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.

                          ____________________