On January 11, 2016, the American Chamber of Commerce in Singapore (AmCham) inaugurated its newly expanded and renovated office in the Shaw Centre. U.S. Ambassador Kirk Wagar, Singapore Ministry of Trade Director General for Trade and TPP Chief Negotiator Ng Bee Kim, AmCham Chairman James Andrade, and AmCham Executive Director Judith Fergin cut the ribbon with Ambassador-at-Large Chan Heng Chee and Ambassador-at-Large Tommy Koh as witnesses.
“AmCham’s office expansion symbolizes the American business community’s commitment to Singapore and the region we serve from here. While our community is large and diverse, we all have in common a stake in the prosperity of the Singaporean and U.S. economies and the region. We look forward to using these offices as launch pad for many more decades of cooperation and success,” said AmCham Chairman James R. Andrade.
Singapore Ministry of Trade and Industry Director-General for Trade Ng Bee Kim said, “Singapore and the United States enjoy a strong and longstanding economic relationship. The U.S.-Singapore Free Trade Agreement is the U.S. first agreement with an Asian country and a gold standard agreement. More recently, our two countries, along with ten others from the Asia Pacific region, have worked hand-in-hand to bring the Trans-Pacific Partnership (TPP) agreement to completion. This comprehensive, high standard regional trade agreement will create good jobs and new opportunities for trade and investment. The TPP marks an important milestone in the advancement of regional economic integration and paves the way for an eventual Free Trade Area of the Asia Pacific.”
U.S. Ambassador to Singapore Kirk Wagar stated, “The United States and Singapore are celebrating 50 years of diplomatic relations this year. Our ties are strong and growing, and the TPP will strengthen them further. The TPP is the highest-standard multilateral trade agreement in history. It will establish rules of the road to ensure that tomorrow’s global trading system is consistent with the values and interests that the United States and Singapore share. Congratulations and thank you once again to my Singaporean colleagues for all you do to support our economic relations. Thank you, AmCham, for your strong support for the relationship. Congratulations on the inauguration of this new space – a vote of confidence for the future.”
Singapore is the leading destination in Asia for foreign direct investment from the United States and, at over US$179 billion, the United States is the largest foreign direct investor in Singapore. The U.S.-Singapore Free Trade Agreement that entered into force in 2004 has stimulated significant growth and diversification of trade and investment ties between the two countries. AmCham has grown to become the largest foreign business chamber in Singapore with over 5,000 members representing more than 750 member companies.
AmCham has hailed the Trans-Pacific Partnership (TPP) as a landmark agreement with the potential to revolutionize trade in the 21st century and congratulates the Singapore and United States government for their successful efforts to bring the TPP negotiations to conclusion. AmCham Singapore anticipates that the TPP will motivate a substantial increase in trade and investment among and between partner countries.
The expanded office signals AmCham’s confidence in the future expansion of the American business community here. This enhanced platform will enable AmCham to better support its growing membership with advocacy, insights, and connections.
AmCham thanks its office expansion partners – Armstrong, Haworth, Interface, and Kahler Slater – for their generous support.