A decision adopted by the Council on 8 November 2019 has confirmed that the free trade agreement (FTA), entered into by the European Union and the Republic of Singapore on 19 October 2019, came into force on 21 November 2019.
With Singapore is the EU’s 14th largest trade partner in goods. Key points to note about the FTA is that it cuts customs duties bilaterally, with Singapore removing all remaining tariffs and the EU opening its market to over 80% of all imports from Singapore and removing all remaining tariffs within a few years. The FTA is also designed to remove all technical and non-tariff barriers to trade goods in key sectors.
To see the press release announced by the Council on 8 November and for links to the text of the FTA please click here.