 SPRING 2020
We at the U.S. Commercial Service hope you, your loved ones, and staff are safe and well as we deal with the ongoing COVID-19 crisis. During this time, we want to reassure you that our team and worldwide network remain ready to support you and are available to continue to provide you export assistance with markets around the world.
Can your company support and contribute to COVID-19 efforts? If you can manufacture products or provide services, know-how, etc to alleviate the situation, we want to hear from you. Please contact Tony Michalski
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Mongolia - The Asian Development Bank (ADB) is proposing to loan $30 million to the Government of Mongolia to develop a cross-border economic zone in Zamyn-Uud Erenhot. This project seeks infrastructure construction, services related to the management and operation of an economic zone, and assistance to establish a port-of-entry system. Please contact Keenton Chiang for assistance to develop this trade lead.
International Sales Opportunities for China and Indo-Pacific Region
Discuss international sales opportunities to China and the Indo-Pacific region with Keenton Chiang, First Secretary for Commercial Affairs at the U.S. Embassy in Beijing, China. Keenton is currently working out of our Ontario, California office and is available for one-on-one counseling.
- Wondering whether your company can take advantage of the U.S.-China Phase 1 Agreement?
- Want to know what kind of resources are available to help you increase sales to the Indo-Pacific region?
If you would like to arrange a one-on-one telephone call with Keenton Chiang, please contact Andrew Edlefsen or your local Trade Specialist.
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U.S. Commercial Service Singapore Webpage
Singapore maintains an open, trade-dependent economy, characterized by an accessible investment regime, with strong government commitment to maintaining a free market and actively managing Singapore's economic development. The country is an important partner of the United States with a bilateral, gold standard, Free Trade Agreement (FTA) signed in 2003 and implemented January 1, 2004 - the first U.S. FTA signed in Asia. In 2018, the City State was the United States’ 12th largest export market importing $33.1 billion worth of goods, up 11.2% from 2017. Singapore was also the United States’ 16th largest goods trading partner. The U.S. ran its 8th largest goods trade surplus of $5.9 billion with Singapore in 2018. The City State was the 9th largest source of FDI in the United States and the fourth fastest growing source of FDI amounting to $88.6 billion.
In 2018, the Singapore economy expanded by 3.2% and the government forecasts GDP to grow between 1.5% to 2.5% in 2019. The U.S. remained Singapore’s third largest source of imports, while China and Malaysia retained their first and second position respectively, followed by Taiwan, Japan, Indonesia, South Korea, Saudi Arabia, France and Switzerland.
The World Bank ranked Singapore the second easiest place to do business in the world in 2018 and Swiss business school IMD ranked Singapore as the world’s most competitive economy. U.S. companies should consider exporting to Singapore for the following reasons:
- Major ICT, distribution, and logistics hub; as such, many consider it the gateway to the ASEAN region
- Lack of corruption
- Favorable tax codes
- Strong intellectual property protection
- English speaking population
California Inland Empire District Export Council
Connect to the California Inland Empire District Export Council via LinkedIn and get updates on international trade and activities in our local Inland Empire community.
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The Inland Empire U.S. Export Assistance Center of the U.S. Commercial Service is dedicated to enhancing the global competitiveness of the Inland Empire region by helping companies expand internationally and increase exports. To learn more about how you can receive assistance in finding market intelligence, developing your export strategy, connecting with international buyers, or support at trade events, contact our office at tel: (909) 390-8283, Office.InlandEmpire@trade.gov or visit our office website.
Questions about this newsletter, please contact: Tony Michalski
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