JAKARTA, July 12: The ratification progress in Washington for a landmark free-trade agreement linking the world’s largest economy to Southeast Asia’s financial hub is going well, Singapore’s trade minister said on Saturday.

“The matter is before Congress now. Some of the key committees of Congress have okayed the text, so I think it’s progressing well,” George Yeo, Singapore Minister for Trade and Industry, told reporters. He was speaking on the sidelines of an ASEAN trade ministers meeting in Indonesia’s capital.

US President and Singapore Prime Minister signed the agreement in May, but it requires Congressional approval.

It breaks ground in several areas, including electronic commerce, customs procedures and protection of copyright material.

Singapore is the United States’ 12th largest trading partner, with two-way trade totalling more than $34 billion.

Asked about concerns in the United States over a plan by bankrupt Global Crossing, which operates a high-speed fibre-optic network spanning 27 countries, to sell a majority stake to Singapore Technologies Telemedia, Yeo said: “I’m not so familiar with the latest decision taken in Washington apart from what I read in the newspapers.”—Reuters