The far-reaching impact of the US-S'pore FTA

THE story of the midnight golf game in Brunei between the leaders of Singapore and the United States 14 years ago, which sowed the seeds for a free trade agreement (FTA) between their two countries, is a well-known one.

In the decade since then, both sides have reaped benefits from the greater bilateral trade and investments that came about as a result of the pact.

Prime Minister Lee Hsien Loong on Tuesday evening (Wednesday morning, Singapore time) gave an idea of the types of goods on the move: "The volume of trade has grown, whether it's consumer products like iPhones, Raoul shirts from Singapore or Prima Taste spices, or equipment like oil-drilling rigs used in rescue operations after the Deepwater Horizon accident in the Gulf of Mexico in 2010."