Britain signs free trade deal with Singapore as EU talks falter

WION Web Team
London, London, UK (Great Britain) Updated: Dec 10, 2020, 10:13 AM(IST)

Britain's International Trade Secretary Elizabeth Truss and Japanese Foreign Minister Toshimitsu Motegi Photograph:( Reuters )

Story highlights

The Singapore deal comes as British Prime Minister Boris Johnson and the European Union`s chief executive gave themselves until the end of the weekend to seal a new trade pact after failing to overcome persistent rifts.

Britain has signed a free trade deal with Singapore -- the latest in a series of agreements it is trying to broker around the globe as it prepares to end its transition out of the European Union on December 31.

Britain`s secretary of state of international trade Liz Truss and Singapore`s trade minister Chan Chun Sing signed the deal at a ceremony in the Southeast Asian city-state on Thursday.

The Singapore deal comes as British Prime Minister Boris Johnson and the European Union`s chief executive gave themselves until the end of the weekend to seal a new trade pact after failing to overcome persistent rifts.

Britain formally left the European Union at the end of January and has spent the year negotiating its future relationship with Brussels and striking trade agreements with major economies such as Japan and Canada.

The deal with Singapore largely mirrors a standing agreement the Southeast Asian nation has with the European Union.

But it is an important deal for Singapore, which counts Britain among its top trading partners for goods and services globally and its top investment destination in Europe.

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