UK and Singapore sign free trade agreement.
The UK and Singapore have signed a free trade agreement, delivering a modicum of positive news for Boris Johnson’s government as it remains locked in negotiations with the EU over its future relationship with the bloc.
The new deal covers more than £17bn of trade in goods and services and largely replicates the existing EU-Singapore FTA, the governments said in a joint statement. Under the current arrangement, 84 per cent of tariffs that apply to Singapore exports to the UK are exempted, with the balance set to be struck off by November 2024.
This deal was the second biggest that Britain has signed in the Asia-Pacific Region.
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