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Singapore–United Kingdom Free Trade Agreement

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Singapore–United Kingdom Free Trade Agreement
Free Trade Agreement between Singapore and the United Kingdom
  Singapore
  United Kingdom
TypeFree trade agreement
ContextContinuity trade agreement between Singapore and the United Kingdom
Signed10 December 2020
LocationSingapore
Effective1 January 2021
ConditionRatification by both signatories
Negotiators
Parties
LanguageEnglish

The Singapore–United Kingdom Free Trade Agreement (SUKFTA) is a free trade agreement between the United Kingdom and Singapore. It was signed prior to the withdrawal of the United Kingdom of the European Union as a Continuity trade agreement in order to protect trade and investment between the two parties as the UK would no longer be a party of the European Union–Singapore Free Trade Agreement.[1][2] The agreement replicates the European Union–Singapore FTA terms with minor changes.

Trade value between the United Kingdom and Singapore was worth £20,626 million in 2022.[3]

Digital Economy Agreement

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Singapore and the United Kingdom signed a digital economy agreement on 25 February 2022, the agreement expands the SUKFTA to cover digital trade.[4] The Singapore–United Kingdom Digital Economy Agreement (SUKDEA) entered into force on 14 June 2022.[5]

See also

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References

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  1. ^ "Joint statement by the UK and Singapore". GOV.UK. 10 December 2020. Archived from the original on 10 December 2020. Retrieved 10 March 2024.
  2. ^ "UK and Singapore sign post-Brexit free trade agreement". Financial Times. 10 December 2020. Archived from the original on 10 December 2020. Retrieved 10 March 2024.
  3. ^ "UK trade agreements in effect". GOV.UK. 3 November 2022. Retrieved 9 February 2024.
  4. ^ "UK and Singapore sign new innovative digital trade deal". GOV.UK. 25 February 2022. Archived from the original on 25 February 2022. Retrieved 10 March 2024.
  5. ^ "UK-Singapore digital economy deal enters into force". The Straits Times. 15 June 2022. Archived from the original on 31 October 2023. Retrieved 10 March 2024.
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