On November 8, 2019 the EU Council approved the EU-Singapore Free Trade Agreement (EUSFTA), which will enter into force on November 21, 2019. Under the EUSFTA, Singapore will remove all remaining tariffs on EU products and the EU will eliminate its tariffs for the majority of goods from Singapore. For some Singapore products, EU duties will be gradually reduced to zero over a 3- to 5-year period upon the EUSFTA entering into force. The EUSFTA also contains a number of non-tariff related measures aimed at facilitating trade between the parties.
Source KPMG
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