[Congressional Record Volume 149, Number 104 (Tuesday, July 15, 2003)]
[Senate]
[Pages S9402-S9403]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]







  LEGISLATION AND SUPPORTING DOCUMENTS TO IMPLEMENT THE UNITED STATES-

                 SINGAPORE FREE TRADE AGREEMENT--PM 44



  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

  I am pleased to transmit legislation and supporting documents to 

implement the United States-Singapore Free Trade Agreement (FTA). The 

Agreement will further open Singapore's markets and increase 

competition and consumer choice. This is America's first FTA with an 

Asian-Pacific nation, and we hope it will serve as a benchmark for 

future free trade agreements with other nations in the region. The 

Agreement will enhance prosperity in the United States and Singapore, 

serve the interest of expanding U.S. commerce, and advance our overall 

national interest.

  My Administration is strongly committed to securing a level playing 

field for America's workers, farmers, and businesses. The Congress 

helped advance that policy by passing Trade Promotion Authority in the 

Trade Act of 2002 (the ``Trade Act''). The Congress can help us take 

another important step by approving this Agreement and the implementing 

legislation. Without this Agreement, U.S. workers and businesses could 

be placed at a competitive disadvantage, because Singapore has signed 

or is currently working on free trade agreements with Japan, Canada, 

Australia, Mexico, and India.

  In negotiating this FTA, my Administration was guided by the 

negotiating objectives set out in the Trade Act. The Agreement locks in 

tariff-free access for all U.S. goods, including textile and 

agriculture products, and addresses other barriers to trade. It opens 

opportunities for our services businesses, which now account for nearly 

65 percent of our gross domestic product and more than 80 percent of 

employment in the United States. Through this FTA, Singapore will grant 

substantial additional market access to U.S. firms across a broad 

spectrum of services, including banking, insurance, securities and 

related financial services, express delivery services, professional 

services, and telecommunications. The Agreement also incorporates 

commitments on regulatory transparency that will be of special help to 

services business.

  This Agreement provides state-of-the-art intellecutural property 

protection, including significant commitments on trade in digital 

products. It ensures that electronic commerce will stay free of duties 

and discriminatory rules. In addition, Singapore will accede to 

international treaties dealing with copyright and access issues for the 

Internet.

  United States citizens and businesses that invest in Singapore will 

have significant increased protections. This Agreement enhances 

transparency and openness in order to foster a more secure environment 

for trade and investment. Furthermore, Singapore will provide U.S. 

investors with important substantive protections that Singaporean 

investors already enjoy in the United States.

  Singapore and the United States have also agreed to cooperate on the





[[Page S9403]]



environment and labor issues and to establish mechanisms to support 

those efforts. The FTA obligates each country to enforce its own labor 

and environmental laws and makes clear that domestic labor or 

environmental protections may not be reduced in order to encourage 

trade or investment. The Agreement also preserves our right to pursue 

other legitimate domestic objectives, including the protection of 

health and safety, consumer interests, and national security.

  Trade and openness contribute to development, the rule of law, 

economic growth, and international cooperation. Singapore is a close 

partner of the United States, and this Agreement will strengthen those 

ties.

  With the approval of this Agreement and passage of the implementing 

legislation by the Congress, we will advance U.S. economic, security, 

and political interests, while encouraging others to work with us to 

expand free trade around the world.

                                                        George W. Bush.

The White House, July 15, 2003



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