Us Singapore Free Trade Agreement
Competition Singapore is committed to establishing a general competition regime by 2005. Singapore is committed to maintaining its current policy of not interfering in the business decisions of Government Linked Companies (Government Linked Companies) to ensure that GLCs are marketed and do not discriminate against U.S. companies. Work and the environment Both sides are committed to enforcing their own national labour and environmental laws, consulting environmental and work issues of mutual interest and interest, and cooperating closely. Dispute settlement and general dispute resolution rules, which focus more on cooperation than traditional trade sanctions, allowing a party to pay a monetary assessment into a mutual fund. The pool is used to facilitate exchanges between the parties. Trade Act 2002 (P.L. 107-210). The Act contains negotiating objectives that call on negotiators to ensure that the parties do not effectively implement their environmental legislation in a way that affects trade and that such breaches are subject to dispute resolution. Another objective is trade agreements that require the parties not to weaken environmental legislation in order to attract trade. All of the key obligations of the agreement, including the labour and environmental provisions, are governed by the dispute settlement provisions of the agreement (Chapter 20). Dispute settlement procedures are seen by negotiators as high standards of openness and transparency: negotiations on the free trade agreement between the United States and Singapore began during the Clinton administration in December 2000. The free trade agreement would be the fifth such agreement signed by the United States and the first with an Asian country.
According to the U.S. Trade Representative, the free trade agreement has opened up new avenues over the years of e-commerce, competition policy and public procurement. It also contains what the U.S. Trade Representative claims to see as great progress in the areas of intellectual property protection, the environment, labour, transparency, customs cooperation and transshipments. The free trade agreement includes an Integrated Public Procurement Initiative (ISI) [Article 3.2 (1-2)], a provision that applies to positions already negotiated duty-free for both countries under the World Trade Organization Information Technology Agreement (signed by 29 nations). The Integrated Purchasing Initiative also covers certain medical devices. The FTA list of products covered by the initiative includes 155 elements of the tariff code and includes products such as automatic information processing machines, magnetic discs, integrated circuits, video cameras, fiberglass, semiconductor manufacturing machines, network equipment and instruments and devices used in medicine. These products must be treated as being from Singapore when shipped from Singapore.
Information technologies and qualified medical components produced and exported to the United States, particularly in the Indonesian islands of Batam or bintan, would be considered to originate in Singapore if they met the rules of origin of the free trade agreement. This initiative was initiated at the request of the United States and aims to help U.S. companies identify complementarities between Singapore and its suppliers and eliminate additional red tape, fees and bureaucracy. (24) It would not affect the tariffs paid, but would allow the items to escape from the United States.