Choo Yun Ting, NOV 20, 2019, 8:39 PM SGT — SINGAPORE – The landmark trade agreement between the European Union and Singapore signals a shared conviction that open and global rules-based trade is the path to growth and prosperity, said Prime Minister Lee Hsien Loong in a Facebook post on Wednesday (Nov 20).
The EU-Singapore Free Trade Agreement (FTA) takes effect on Thursday, almost a decade after negotiations began. It will reduce tariff and non-tariff barriers and provide Singapore companies with greater market access to all EU member states.
PM Lee described the pact as an important addition to Singapore’s extensive network of trade deals, which have enabled local businesses to capitalise on opportunities in diverse markets.
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Source: www.straitstimes.com