Singapore Free Trade Agreement Countries

Singapore Free Trade Agreement Countries

The EU-Singapore Free Trade Agreement, an acronym EUSFTA, is signed and ratified[1][2] Bilateral Free Trade and Investment Agreement between the European Union and Singapore. EuSFTA has been under negotiation since March 2010 and its text has been publicly available since June 2015. [3] Negotiations on goods and services were concluded in 2012 and investment protection on 17 October 2014. [4] Since the establishment of the CSFTA, China has become Singapore`s largest trading partner, with a total trade value of more than $135 billion in 2019. In October 2019, both countries announced an upgrade to the CSFTA, which included changes to the investment chapter of the original agreement. The Parties agree to apply their sanitary and phytosanitary rules in a non-discriminatory manner and not to introduce new measures that have the effect of undue impeding trade. Bilateral trade and investment negotiations with Singapore began in 2010 and ended in 2017. The agreements with Singapore are the first to be concluded between the EU and a South-East Asian country and are stepping stones for increased engagement between the EU and the region. There are two types of free trade agreements: bilateral (agreement between Singapore and a single trading partner) and regional (signed between Singapore and a group of trading partners). The country`s 13 bilateral free trade agreements and 11 regional free trade agreements include some of the largest combined trade agreements in the ASEAN-China, ASEAN-India and ASEAN-Hong Kong trading blocs and allow Singapore-based companies access to preferential markets, free or reduced import tariffs and improved intellectual property rules. Each country without an agreement will market with the United Kingdom according to the rules of the World Trade Organization. The deal will cover a trading relationship worth more than $22 billion (£17 billion).

For EFTA-Singapore trade statistics see the EFTA trade statistics tool of the important Singapore Free Trade Agreement (FTA), combined with a transparent legal system and a trained workforce, has been awarded to accelerate the country`s transformation into a first-world economy. . . .