Singapore’s Deputy Prime Minister and Minister for Finance, Tharman Shanmugaratnam, and US Secretary for the Treasury, Jacob J. Lew discussed the Trans-Pacific Partnership (TPP), among others, in Singapore on Nov. 13.

Sources from Singapore’s Ministry of Finance say that at the meeting on Nov. 13 morning, the two ministers also discussed the implementation of the 2010 governance reforms of the International Monetary Fund (IMF), the global outlook, developments in Asia, and some bilateral issues, in particular tax cooperation.

The Singaporean Deputy Prime Minister said: “We are both committed to achieving a high-standard TPP agreement that will ultimately boost trade, boost investment and boost job creation in all our countries. Our negotiators are working intensively to resolve the outstanding issues.”

He added that Secretary Lew and he had a good exchange on issues relating to financial services and investment, and that they intend to raise standards of investor protection for businesses and strengthen the financial services sector.

“We look forward to a mutually beneficial TPP agreement based on an overall assessment and balance of benefits,” he said.

Regarding bilateral tax cooperation, the Deputy PM noted that Singapore and the US expect to conclude FATCA agreements over the next few months.

He said Secretary Lew’s visit to Singapore testifies to America’s continued active involvement in the region and the US remains an important partner for ASE AN and the Asian region.-VNA