Singing Its Praises Small but strong, Singapore is ideal for American businesses looking East.

Hong Kong has long served as the leading entry point for doing business in China. Today, however, Singapore is quickly becoming China's new gateway. With its predominantly ethnic Chinese population and close political ties to Beijing, Singapore is hoping to act as a conduit for trade between China and other countries. It's also the easiest Asian country in which to do business, the market most similar to the U.S., and a major distribution center. And its high standard of living and comfortable, safe environment, along with transport facilities that put nearly half of the world's population within seven hours' travel, make Singapore a key regional hub.

If that's not enough to get you thinking about doing business there, maybe this will: The U.S.-Singapore Free Trade Agreement, or USSFTA, that went into effect in 2004 is sweeping away trade barriers. During the first three years of the USSFTA, U.S. exports to Singapore increased by nearly 50 percent. In 2007, Singapore was the 10th largest export market ($13.1 billion) and the 13th largest trading partner to the U.S.