Comitted to PEOPLE'S RIGHT TO KNOW
Vol. 4 Num 101 Thu. September 04, 2003  
   
Business


Bush to sign US-S'pore FTA into law today


President George W. Bush is scheduled to sign the United States-Singapore Free Trade Agreement (FTA) into law today.

At a White House ceremony, Mr Bush will complete a process that began almost exactly three years ago.

Reflecting the increased complexity of trade in today's world, the FTA is a staggering 1,400 pages long. It includes 240 pages of text, plus a series of long annexes and eight side letters.

By contrast, the North American Free Trade Agreement of 1993 was only 700 pages long when it was passed 10 years ago.

The Singapore deal is the first such agreement signed by the US with an Asian nation. Many believe it will serve as a model for similar agreements with other countries in the region.

The landmark document was co-signed by Mr Goh and Mr Bush in a glittering White House ceremony on May 6.

Then the agreement went to Congress where it was subjected to intense grilling, first by trade, finance and judicial committees, then by the House of and the Senate.