Hi, US AND Singapore just signed a Free Trade Agreement in April 2003. Can a Singaporean can come to US and work part time and get a H1B through this USSFTA?
It states that: (see point 9)
A Roadmap For The USSFTA
You will remember that the 11th and final round of the USSFTA negotiations was held in Singapore from 11 to 19 November 2002. The issue of capital control was resolved on 15 January 2003. In the meantime, the text of the agreement has been sent to our legal experts for scrubbing. The legal scrubbing is expected to be completed in the first half of March.
On 30 January 2003, President Bush notified Congress of his intention to sign the USSFTA. The period of notice, of 90 days, will expire on 30 April 2003. This means that the agreement can be signed at any time after that date. We hope that the agreement will be signed in the presence of President Bush and Prime Minister Goh in May in Washington, DC.
After the agreement has been signed, the Administration will, within the period of 60 days, submit a report to Congress on the necessary changes which will have to be made to the US laws in order to implement the USSFTA. The Congress can suggest to the Administration how the implementing legislation should be drafted. Taking the suggestions of Congress into account, the Administration will submit draft implementing legislation to the Congress for its action.
The Congress must act within 90 days of such submission. Action is required by both houses of Congress. Under the Trade Promotion Authority Act, Congress can either accept or reject the USSFTA. It cannot amend it. It is hoped that the two houses of the US Congress will pass the implementing legislation before it adjourns for its summer vacation in August. If this target is not achieved, it is hoped that Congress will take action when it re-convenes in September. If the two houses of Congress pass the implementing legislation in 2003, the USSFTA can come into force on 1 January 2004.
I have, in Annex I to my speech, written a paper on the chronology of the USSFTA.
Benefits Of USSFTA To Singapore And Singapore-Based Companies
I would like to turn to the benefits which the USSFTA will confer on Singapore and on Singapore-based companies. I will try to be as specific and concrete as possible.
First, the USSFTA will result in improved market access and tariff savings for Singapore’s exports to the US. The US will abolish import duties on all goods originating from Singapore. The amount of tariff saving has been estimated at between US$100 million and S$300 million a year. We calculate that we will achieve tariff savings of S$178 million in the chemical industry (HS 28-39); S$54 million in the minerals industry (HS 25-27); S$48 million in the electrical and electronic industries (HS 84-85); S$4 million in the instrumentation equipment industry (HS 90); and S$16 million in several other sectors. The biggest beneficiary will be Singapore-based US MNCs which account for 60% of Singapore’s exports to the US.
Second, the merchandise processing fee of 0.21% (ad valorem), imposed on all imports entering the US will be waived for goods originating from Singapore. We calculate the waiver to be worth S$51 million annually.
Third, Singapore-based companies will be able to take advantage of the Integrated Sourcing Initiative (ISI) to source widely for components in the ICT industry and the medical equipment industry. Foreign components will be treated as local components in calculating whether a product satisfies the rule of origin. Exports of ICT products from Singapore to the US amounted to S$23 billion and of medical equipment to S$800 million in 2002. The ISI will encourage manufacturers to invest in the region, especially in Batam and Bintan, in order to capture the comparative advantages of different locations in the region.
Fourth, the textile and apparel industry will enjoy a competitive price advantage of 5 to 15% for such goods originating from Singapore provided they use Singapore-made or US-made yarn or fabric following the immediate elimination of tariff. The industry will have to restructure in order to take advantage of this development. Singapore’s manufacturers should explore the possibility of sourcing yarn from the US or diversify into synthetic fabrics which can be produced by our chemical industry.
Fifth, the vessel repair duty will be waived for Singapore. This duty is assessed on the basis of 50% of the value of repair work done on US ships outside the US. We estimate this waiver to be worth S$7.7 million per annum.
Sixth, Singapore’s service suppliers are guaranteed access to the US market. This includes such important sectors as the information and communication technology and financial services. Singapore’s service suppliers will be accorded the same treatment as that accorded by any State to a US service supplier.
Seventh, professional bodies from the US and Singapore, especially those in architecture and engineering, will consult in order to develop mutually acceptable standards and criteria for licensing and certification of professional service providers.
Eighth, both US and Singapore-based companies will enjoy increased protection for intellectual property rights. Singapore will accede to WIPO treaties on copyright, provide enhanced protection for copyright works and stronger anti-circumvention measures. Even before the USSFTA has come into force, Singapore is enjoying increased investment in certain knowledge-intensive industries such as the pharmaceutical industry. One of Hollywood’s studios has decided to make Singapore its Asian hub for customising its games for the various Asian markets.
Ninth, Singaporean business visitors can enter the US, to conduct business activities, for up to 90 days, without being subject to the labour market test. The US has also decided to waive the H1B visa requirement under the USSFTA. This will encourage a freer flow of talent between the two countries.
Tenth, Singapore’s investors in the US will enjoy strong protection under the USSFTA. An aggrieved Singaporean investor can take the US government to an international arbitration tribunal if it feels that the US has acted in breach of its obligations under the FTA.
It states that: (see point 9)
A Roadmap For The USSFTA
You will remember that the 11th and final round of the USSFTA negotiations was held in Singapore from 11 to 19 November 2002. The issue of capital control was resolved on 15 January 2003. In the meantime, the text of the agreement has been sent to our legal experts for scrubbing. The legal scrubbing is expected to be completed in the first half of March.
On 30 January 2003, President Bush notified Congress of his intention to sign the USSFTA. The period of notice, of 90 days, will expire on 30 April 2003. This means that the agreement can be signed at any time after that date. We hope that the agreement will be signed in the presence of President Bush and Prime Minister Goh in May in Washington, DC.
After the agreement has been signed, the Administration will, within the period of 60 days, submit a report to Congress on the necessary changes which will have to be made to the US laws in order to implement the USSFTA. The Congress can suggest to the Administration how the implementing legislation should be drafted. Taking the suggestions of Congress into account, the Administration will submit draft implementing legislation to the Congress for its action.
The Congress must act within 90 days of such submission. Action is required by both houses of Congress. Under the Trade Promotion Authority Act, Congress can either accept or reject the USSFTA. It cannot amend it. It is hoped that the two houses of the US Congress will pass the implementing legislation before it adjourns for its summer vacation in August. If this target is not achieved, it is hoped that Congress will take action when it re-convenes in September. If the two houses of Congress pass the implementing legislation in 2003, the USSFTA can come into force on 1 January 2004.
I have, in Annex I to my speech, written a paper on the chronology of the USSFTA.
Benefits Of USSFTA To Singapore And Singapore-Based Companies
I would like to turn to the benefits which the USSFTA will confer on Singapore and on Singapore-based companies. I will try to be as specific and concrete as possible.
First, the USSFTA will result in improved market access and tariff savings for Singapore’s exports to the US. The US will abolish import duties on all goods originating from Singapore. The amount of tariff saving has been estimated at between US$100 million and S$300 million a year. We calculate that we will achieve tariff savings of S$178 million in the chemical industry (HS 28-39); S$54 million in the minerals industry (HS 25-27); S$48 million in the electrical and electronic industries (HS 84-85); S$4 million in the instrumentation equipment industry (HS 90); and S$16 million in several other sectors. The biggest beneficiary will be Singapore-based US MNCs which account for 60% of Singapore’s exports to the US.
Second, the merchandise processing fee of 0.21% (ad valorem), imposed on all imports entering the US will be waived for goods originating from Singapore. We calculate the waiver to be worth S$51 million annually.
Third, Singapore-based companies will be able to take advantage of the Integrated Sourcing Initiative (ISI) to source widely for components in the ICT industry and the medical equipment industry. Foreign components will be treated as local components in calculating whether a product satisfies the rule of origin. Exports of ICT products from Singapore to the US amounted to S$23 billion and of medical equipment to S$800 million in 2002. The ISI will encourage manufacturers to invest in the region, especially in Batam and Bintan, in order to capture the comparative advantages of different locations in the region.
Fourth, the textile and apparel industry will enjoy a competitive price advantage of 5 to 15% for such goods originating from Singapore provided they use Singapore-made or US-made yarn or fabric following the immediate elimination of tariff. The industry will have to restructure in order to take advantage of this development. Singapore’s manufacturers should explore the possibility of sourcing yarn from the US or diversify into synthetic fabrics which can be produced by our chemical industry.
Fifth, the vessel repair duty will be waived for Singapore. This duty is assessed on the basis of 50% of the value of repair work done on US ships outside the US. We estimate this waiver to be worth S$7.7 million per annum.
Sixth, Singapore’s service suppliers are guaranteed access to the US market. This includes such important sectors as the information and communication technology and financial services. Singapore’s service suppliers will be accorded the same treatment as that accorded by any State to a US service supplier.
Seventh, professional bodies from the US and Singapore, especially those in architecture and engineering, will consult in order to develop mutually acceptable standards and criteria for licensing and certification of professional service providers.
Eighth, both US and Singapore-based companies will enjoy increased protection for intellectual property rights. Singapore will accede to WIPO treaties on copyright, provide enhanced protection for copyright works and stronger anti-circumvention measures. Even before the USSFTA has come into force, Singapore is enjoying increased investment in certain knowledge-intensive industries such as the pharmaceutical industry. One of Hollywood’s studios has decided to make Singapore its Asian hub for customising its games for the various Asian markets.
Ninth, Singaporean business visitors can enter the US, to conduct business activities, for up to 90 days, without being subject to the labour market test. The US has also decided to waive the H1B visa requirement under the USSFTA. This will encourage a freer flow of talent between the two countries.
Tenth, Singapore’s investors in the US will enjoy strong protection under the USSFTA. An aggrieved Singaporean investor can take the US government to an international arbitration tribunal if it feels that the US has acted in breach of its obligations under the FTA.