What Is Free Trade Agreement Singapore

The separate investment protection agreement must also be approved individually by each EU Member State. The investment justice system will ensure that the investment protection agreement is interpreted in a legally correct and predictable manner. A free trade agreement (FTA) is a legally binding agreement between two or more countries aimed at eliminating or eliminating barriers to trade and facilitating cross-border trade in goods and services between the territories of the Parties. The trade agreement describes in detail the intermediate categories for the reduction of customs duties over 5 years in Annex 2-A of the agreement. Since the establishment of the DCFTA, China has become Singapore`s largest trading partner, with a total trade value of more than $135 billion in 2019.