[Photo: MFA] United States Secretary of State Hillary Rodham Clinton, who is in Singapore on an Official Visit from 16 to 18 November 2012, was hosted to dinner by Minister for Foreign Affairs and Minister for Law K Shanmugam on 16 November 2012.
During the dinner, Minister Shanmugam and Secretary Clinton reaffirmed the excellent bilateral relations and extensive cooperation between Singapore and the US, including in areas of economic engagement, as well as security and regional exchanges. Bilateral relations are built on the strong foundation of the robust economic ties between Singapore and the US, and stronger economic engagement between Asia and the US can play an important role in the global economic recovery. In this regard, Singapore’s position as the regional financial and economic hub is well-placed to support the increased American economic engagement in the region, especially for US companies interested in having a greater presence in Southeast Asia. Singapore companies have also been making strong investments in the US, contributing to its economic growth and job creation in key areas.
The US has recently decided to continue Singapore’s Visa Waiver Program designation, affording convenience to Singaporeans travelling to the US. Both sides are also currently in discussions to conclude an Intergovernmental Agreement on the US Foreign Account Tax Compliance Act (FATCA). This is in line with Singapore’s role as a responsible tax jurisdiction and commitment to safeguard our financial system from being used to harbour illegal proceeds.
Apart from the Strategic Partnership Dialogue (SPD) which should be held in Singapore next year, Minister Shanmugam and Secretary Clinton also welcomed the concrete progress made under Singapore-US Third Country Training Programme (TCTP) to support ASEAN community-building efforts through joint technical assistance. Two TCTP signature programmes on governance and leadership development, as well as trade facilitation are currently being discussed. These programmes would allow Singapore and the US to work together to prepare ASEAN's future leaders, develop human resources, and contribute to a more integrated economic community. This will build on the current focus of the TCTP in three broad areas, namely enhancing connectivity, promoting sustainable development and strengthening regional resilience.
Minister Shanmugam and Secretary Clinton also exchanged views on international and regional developments, in particular the continued commitment of the Obama Administration in its multi-faceted engagement of the region. These include the issues that will be discussed at the ASEAN-US Leaders Meeting and East Asian Summit in Phnom Penh later this week.
Prior to the dinner hosted by Minister Shanmugam, Secretary Clinton called on former Minister Mentor Mr Lee Kuan Yew where they had a good discussion on a wide range of regional and international issues, including US foreign policy in Asia.
Prime Minister Lee Hsien Loong will be meeting with Secretary Clinton on 17 November 2012.
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MINISTRY OF FOREIGN AFFAIRS
SINGAPORE
16 NOVEMBER 2012