Singapore Concludes Europe Free-Trade Talks as Exports Fall
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Singapore concluded negotiations on a free-trade agreement with the European Union, boosting efforts to deepen access to overseas markets as a global economic slowdown hurts exports from the island nation.
The government said yesterday that talks on the EU trade accord had concluded after almost three years, with the European bloc agreeing to eliminate tariffs on all imports from Singapore over five years. The island will allow duty-free access for all incoming shipments from the region immediately, the city’s Ministry of Trade and Industry said in a statement.