PUBLISHED ONFebruary 15, 2016 4:36 AM
SINGAPORE - US government and industry officials said on Monday they expected the Trans-Pacific Partnership (TPP) trade deal signed by 12 countries earlier this month to bolster trade in aviation products once it was enacted.
Marcus Jadotte, assistant secretary of commerce at the US Department of Commerce's International Trade Administration (ITA), said the Singapore Airshow was "an unmatched opportunity to form partnerships between US companies and governments across the dynamic Asia-Pacific region".
In a statement prepared for a news conference, Jadotte said TPP would lead to an overall increase in economic activity and trade for the region, which in turn would increase demand for aviation products. Jadotte gave no specific forecasts.
Singapore was consistently a top market for US aerospace parts, averaging more than $5.7 billion in parts imports from the United States between 2005 and 2014, Jadotte said.
He did not provide any detailed forecast.
The biennial Singapore Airshow, Asia's largest, opens on Tuesday. The United States will be the show's largest international exhibitor, with more than 140 exhibitors and nearly 30 per cent of the show's total indoor exhibit space.
The show will give US companies, officials and think-tanks an opportunity to strengthen relationships, grow exports, improve competitiveness and demonstrate America's commitment to invest in the region, the release said.