Singapore
Britain on Thursday signed a free-trade deal with Singapore, giving it a key foothold in Asia as it seeks to forge its own path after leaving the European Union, while talks on a post-Brexit deal stumble. The agreement largely replicates an existing EU-Singapore pact, with the city-state saying it will cover more than 17 billion pounds (US$22 billion) in trade. It removes tariffs, gives both countries access to each other’s markets in services and cuts non-tariff barriers in electronics, cars and vehicle parts, pharmaceutical products, medical devices and renewable energy generation, the ministry said. Duties will be eliminated by November 2024, the same timeline as the agreement between the EU and Singapore, a former British colony that maintains close links with London. As the deal was signed in the city-state, Britain’s International Trade Secretary Liz Truss praised Singapore for its leadership on free trade. sides “far apart”.—AFP
