US, Singapore Sign MOU on Trade Financing, Investment

The U.S. and Singapore signed a memorandum of understanding that will extend trade financing and investment support to companies in both countries, the Commerce Department said Dec. 15. The MOU, which was signed by Commerce Secretary Wilbur Ross and Singapore’s Minister for Trade and Industry Chan Chun Sing, will help Singapore importers “finance the purchase” of U.S. exports, Ross said. He said it will also help draw more Singapore investment to the U.S. Commerce said the MOU will be in place for two years and is renewable.