Singapore, US Reaffirm Mutual Interest for Stronger FinTech Ties

Singapore and the United States are jointly pushing toward the collaborative development of a number of industry sectors including financial technology or FinTech.

The US-Singapore Collaboration Platform Memorandum of Understanding (MoU) was first signed [PDF] in 2016 between the US Department of Commerce and Singapore’s Ministry of Trade Industry during a stateside visit by the Asian nation’s prime minister Lee Hsien Loong.

Singapore’s trade ministry and the US commerce department are the countries’ respective government bodies tasked toward their economic growth and development.

Singapore is an important partner of the United States in Asia. Despite being an island nation of fewer than 6 million people, Singapore is the largest trading partner of the United States in Southeast Asia. Singapore is also the 13th largest merchandise exporter of the United States in the world. United States’ foreign direct investment (FDA) to Singapore was over $150 billion (2014 figures), making it the largest US investment in Asia.

In 2016, bilateral goods and services trade between the two nations totaled USD $68 billion, according to figures

Read more ... source: CryptoCoinsNews

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