U.S. signs first free trade agreement in Asia

WASHINGTON – President George Bush and Singapore Prime Minister Goh Chok Tong signed a Free Trade Agreement between the two countries May 6 at the White House.

The free trade agreement is the first ever between the United States and an Asian nation.

Formal negotiations began during the Clinton administration.

The two leaders expressed hope that the free trade agreement would be a catalyst for trade liberalization and enhanced growth in the region.

WTO ally. In a joint statement, Bush and Goh also “reaffirmed their commitment to achieving a successful outcome at the World Trade Organization’s Doha Development Agenda trade negotiations.”

It added that the two “agreed that the war against terrorism in Southeast Asia is far from over.”