US, Singapore ink trade memorandum

The United States announced it had signed a memorandum of understanding to improve trade relations with Singapore, as both countries eye economic recoveries following the COVID-19 pandemic. The United States is already the largest foreign investor in Singapore, which is in turn the fourth-largest Asian investor in the American economy. In a statement, the US Commerce Department said the renewable, two-year memorandum would also “enhance the availability of and access to trade financing options for US and Singapore companies.” — AFP