Singapore will remove tariffs on all EU products entering the country. The EU will remove tariffs on 84% of all Singapore products entering the EU within the first year, and the remaining 16% over a period of three to five years.
(Nov 10): A free-trade agreement between Singapore and the European Union that’s been almost a decade in the making will take effect Nov 21, the two sides announced Friday.
The announcement marks a victory for export-reliant Singapore, which becomes the first Southeast Asian nation to conclude a free-trade deal with the EU, according to documents from Singapore’s Ministry of Trade & Industry.
