SINGAPORE WELCOMES US ANNOUNCEMENT TO ENGAGE THE TRANS-PACIFIC PARTNERSHIP

Singapore welcomes the announcement by US President Barack Obama in Tokyo this morning that the US will engage the Trans-Pacific Strategic Economic Partnership Agreement (TPP) partners.  With this commitment from the US, the TPP now has the potential to expand to a 8-member grouping with Australia, Peru, US and Vietnam joining the original four members, Brunei, Chile, New Zealand and Singapore. Singapore looks forward to working with the TPP countries in developing a high quality 21st century trade agreement that meets the needs of modern businesses and which allows at the same time for the TPP to grow into a larger agreement with a broad based membership across the Asia Pacific.

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MINISTRY OF TRADE AND INDUSTRY
14 NOVEMBER 2009