Singapore And The US Signs Trade Finance Deal

To boost economic cooperation and to grow trade finance, a memorandum of understanding (MoU) is inked by Singapore and the US On Wednesday.

The MoU is additionally supposed to facilitate investment support for the organizations in the two nations.
The respective MoU is renewable for two years and will be administered by the  Department of Commerce of the US and the Ministry of Trade and Industry (MTI) of Singapore.

As per the MIT on Wednesday, “Due to significant global tightening of credit following the economic slowdown caused by the COVID-19 pandemic, the MOU aims to enhance the availability of and access to trade financing options for both US and Singapore companies”.

The deal by Singapore and the US will also help bilateral trade to boost their possibilities in trading goods and services for each area.

Related Read: Trade Finance Industry To Consider DLT Adoption Amid COVID-19

The US Commerce Minister Wilbur Ross and Singaporean Trade and Industry Minister Chan Chun Sing have also signed the MoU.

Chan explained, “As like-minded and longtime partners, Singapore and the US are committed to support our business in responding to the global economic disruption caused by COVID-19”.

As per Ross, the Singaporean importers will be benefited from the MoU through providing funds to US export purchases as well as it could also help Singaporean investors to expand possibilities in the US.

MIT said that the two nations were supposed to operate together for an improved COVID-19 economic recovery.

As per the ministry, “Our continued partnership will help to facilitate bilateral trade and investments and ensure that our companies are well-positioned to tap into growth opportunities in our respective markets and regions”.

Other news

Most Recent Blogs View All Blogs

12 May

Top Ways Fintech Industry Is Getting Transformed Through Blockchain

If you are a businessman who is indulged in any kind of trade ie. import-export activity, you might ...

10 May

Fintechs Are Proving To Be A Boon For Small Exporters

Since the global pandemic of Covid-19 hit the world economy, the global traders have gone into deep ...

25 Apr

Letter of Credit Issuance Process - An Important Trade Finance Instrument

Looking for a letter of credit? This guide covers what an LC is, how it works & its process. Rea...


Emerio Banque is an innovative global financial institution incorporated in England and Wales with Legal Entity Identifier 875500DGPPWAFABBK130. Emerio Banque does not offer its products and services to businesses and/or persons registered in the United Kingdom.

No information on this website should be construed as a solicitation, offer, recommendation, and representation of suitability or endorsement of any security, investment or strategy.

Important Notice

Emerio Banque would like to advise its customers to report any suspicions which they may have regarding the identity of any intermediary who promotes products or services offered by us or any intermediary bearing similar names. You should verify with Emerio Banque by calling our Customer Service Number on +44 203 059 7831 or emailing

Please also be aware of bogus SMS messages and voice message calls or fraudsters who impersonate the staff of Emerio Banque.

We have recently become aware of a number of entities with different names misrepresenting themselves as associates, partners or agents of Emerio Banque.

Please be informed that Emerio Banque is not associated with nor do we have any business connections or dealings with such institutions.

Emerio Banque takes all information regarding suspicious fraudulent activity very seriously. Please immediately inform us at if you suspect or are approached by persons misrepresenting or impersonating Emerio Banque and/or its officials. We will make investigations and will take legal action where necessary.