MFA Press Statement: Visit by United States Secretary of the Treasury, Jacob Lew (12 to 13 November 2013)

United States Secretary of the Treasury Jacob Lew called on Prime Minister Lee Hsien Loong this morning at the Istana. This is Secretary Lew’s first visit to Singapore as US Treasury Secretary.

During the meeting, PM Lee welcomed the US’ commitment to continue deepening its engagement of the Asia-Pacific region.  PM Lee and Secretary Lew exchanged views on international and regional developments, including the global economic and financial outlook, ASEAN’s efforts to promote regional growth through greater economic integration, and the progress of the ongoing Trans-Pacific Partnership (TPP) negotiations.  PM Lee and Secretary Lew affirmed the excellent bilateral relations between Singapore and the US, and discussed ways to strengthen bilateral cooperation.

Secretary Lew also called on Deputy Prime Minister and Minister for Finance Tharman Shanmugaratnam.  They discussed a broad range of issues such as the global economic outlook, IMF quota reforms, tax cooperation and the TPP negotiations.  DPM Tharman and Secretary Lew agreed that governance reforms of the IMF remained a priority to be completed with urgency, and noted that the ongoing negotiations between Singapore and the US to conclude a Foreign Account Tax Compliance Act (FATCA) Inter-Governmental Agreement are progressing smoothly.  On the TPP, both ministers reiterated their commitment to achieving a high-standard agreement that will facilitate more trade and investment, create jobs and promote economic development in the region.         
                      
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MINISTRY OF FOREIGN AFFAIRS
SINGAPORE
13 NOVEMBER 2013