Singapore’s trade with the U.S. in 2013 will probably exceed $50 billion for a third year after the nation attracted the most investment from American companies in the Asia-Pacific region.
“U.S.-Singapore relations are generally at an all-time high,” U.S. Ambassador to Singapore David Adelman said in a Bloomberg Television interview. He gave the trade target for the two countries, saying “Southeast Asia has become increasingly important to American multi-national corporations as they continue to increase their participation in the global economy.”
U.S. foreign direct investment into Singapore rose 17 percent to $138.6 billion in 2012, higher than to Japan and Australia, according to data from the Department of Commerce. Singapore was the first Asian nation to sign a free-trade agreement with the U.S. in 2003.