Free Trade Agreement between Singapore and the United Kingdom | |
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Type | Free trade agreement |
Context | Continuity trade agreement between Singapore and the United Kingdom |
Signed | 10 December 2020 |
Location | Singapore |
Effective | 1 January 2021 |
Condition | Ratification by both signatories |
Negotiators | |
Parties | |
Language | English |
The SingaporeâUnited 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 UnionâSingapore Free Trade Agreement. [1] [2] The agreement replicates the European UnionâSingapore FTA terms with minor changes.
Trade value between the United Kingdom and Singapore was worth ÂŁ20,626 million in 2022. [3]
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 SingaporeâUnited Kingdom Digital Economy Agreement (SUKDEA) entered into force on 14 June 2022. [5]