The Electronic Industries Alliance (EIA) today praised the signing of the U.S.-Singapore Free Trade Agreement yesterday by President George Bush and Singapore Prime Minister Goh Chok Tong and urged swift Congressional passage.  EIA was a leader in the fight for Trade Promotion Authority last year and has long been a supporter of trade liberalization and open markets.

“These new trade opportunities are critical to the U.S. electronics industry,” said EIA President Dave McCurdy. “More than one third of U.S. jobs in the computer and electronics manufacturing sector are supported by exports. In light of the economic challenges faced by the high-tech sector, securing increased access to foreign markets is a high priority for our member companies.”

EIA strongly supports the positive economic benefits the U.S.-Singapore agreement would have on the U.S. economy as a whole and on the electronics industry specifically. The FTA’s strong protection for intellectual property that will facilitate the growth of digital technologies and products reflects the careful balance struck in the Digital Millennium Copyright Act. As well, the agreement will build on Singapore’s already liberal market and raise standards even higher in areas such as e-commerce liberalization and telecom market access.

The agreement signed this week is the first the U.S. has signed with an Asian nation, and it sends a clear message that the U.S. recognizes the important trade opportunities in this region. Bilateral agreements such as this signal the U.S.'s commitment to the region and foster stable economic and political ties.

Brian Kelly, EIA’s Senior Vice President of Government Relations and Communications, will testify Thursday, May 8, at 1:00 in 2123 Rayburn House Office Building before the House Energy & Commerce Subcommittee on Commerce, Trade and Consumer Protection.  The hearing will focus on the significance of the Singapore and Chile Free Trade Agreements.