(MENAFN- Qatar News Agency) Singapore and China's Taiwan signed a key free trade agreement here Friday.
The Agreement between Singapore and the Separate Customs Territory of Taiwan, Penghu, Kinmen and Matsu, on Economic Partnership (ASTEP) covers areas such as trade in goods, trade in services, investment, dispute settlement, e-commerce, government procurement and customs procedures ,the official Xinhua news agency. It is one of the first such agreements for Taiwan.
Calvin Eu, Singapore's trade representative in Taiwan, said he was looking forward to the early ratification of the agreement by the authorities of Taiwan.
The agreement will eliminate tariffs for 97 % of Singapore's exports to Taiwan when it enters into force, and eventually allow all exports to enter tariff-free.
Meanwhile, the tariffs will be eliminated on all goods originating from Taiwan and exported to Singapore once the agreement is in place.
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.