Singapore, US likely to expand collaboration on ecommerce

Minister for Trade and Industry from Singapore (Industry) and US Commerce Secretary met at the Milken Institute Global Conference in Los Angeles, and discussed ways to facilitate business opportunities for companies through the US-Singapore Collaboration Platform memorandum of understanding (MOU), according to a MTI press release.

The MOU was signed between MTI and the Department of Commerce in 2016.

The US official also invited Singapore to participate in the 2017 SelectUSA Investment Summit from June 18 to 20. The summit is dedicated to promoting foreign direct investment (FDI) in the US.

According to MTI, Singapore was the largest trading partner in Southeast Asia in 2016 for the US, with bilateral goods and services trade totalling USD 68 billion. It was also the country’s 13th largest merchandise export destination globally.