Singapore, US ink MoU on trade financing, investment cooperation
Singapore and the US have signed a Memorandum of Understanding (MOU) to deepen economic cooperation and extend trade financing and investment support to companies in Singapore and the US.
The agreement comes after Singapore last week signed a free trade agreement with the United Kingdom. (Photo: The Straits Times)Hanoi (VNA) - Singapore and the US have signed a Memorandum of Understanding (MoU) to deepen economic cooperation and extend trade financing and investment support to companies in Singapore and the US.
The MoU was signed by Singapore Minister for Trade and Industry Chan Chun Sing, and Secretary of Commerce Wilbur Ross, the US Department of Commerce said in a press release.
The US is Singapore's largest foreign investor, while Singapore is the fourth largest Asian investor in the US.
“This MoU will help Singapore importers finance the purchase of US exports and support Singapore investors looking at opportunities in the US,” Secretary Ross said.
Minister Chan said as like-minded partners, Singapore and the US are committed to supporting their businesses as they respond to the global economic disruptions caused by COVID-19.
Last week, Singapore also signed a trade agreement with the UK./.
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