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The UK has signed a free trade agreement with Singapore worth £ 17.6 billion.
The deal, the latest in a series of deals the government is trying to negotiate around the world, is the second-largest deal Britain has signed in the Asia-Pacific region, said International Trade Secretary Liz. Truss.
The agreement was signed by Ms. Truss and SingaporeTrade Minister Chan Chun Sing at a ceremony in the Southeast Asian city-state.
Truss said the pact with Singapore “ensures certainty” for companies, would mean “deeper future ties in digital and services trade” and was “further proof that we can succeed as an independent trading nation.”
It effectively reflects the agreement that Singapore already has with the EU, which means that trade should continue as normal as of January 1.
Follow the UK and Canada reaching a similar agreement last month to continue operating under the same terms as the current EU agreement after the Brexit transition period ends.
Another rollover deal with Vietnam It is also expected to be signed soon.
Meanwhile, UK and EU negotiators have started one last push to salvage the chances of a post-Brexit trade deal after Downing Street warned that the gaps between the two sides remain “very large.”
Prime Minister Boris johnson and President of the European Commission Ursula von der Leyen held Crucial conversations over dinner in Brussels Wednesday with the aim of breaking out of the stalemate, but key differences prevail.
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