London Daily

Focus on the big picture.
Saturday, Aug 02, 2025

UK signs free trade deal with Singapore ahead of Brexit

UK signs free trade deal with Singapore ahead of Brexit

The UK’s agreement with the major financial and commercial hub is expected to provide the UK with support in Asia as the country negotiates its exit from the European Union.
The UK signed a free trade agreement with Singapore on Thursday, as hopes for a compromise with the European Union on Brexit dwindle.

The document was signed in Singapore by the trade ministers of the two countries and will cover trade of more than €18 billion a year.

The agreement with the city-state, a major financial and trade platform, should provide the United Kingdom with significant support in Asia as the country negotiates its exit from the EU.

It was modelled on an existing agreement between the EU and Singapore, providing for the elimination of tariffs, opening reciprocal access to markets for services and reducing non-tariff barriers on electronic goods, vehicles and spare parts, pharmaceuticals and medical devices, as well as on energy production.

Customs duties are expected to be eliminated in 2024, on the same date as for the agreement between the EU and Singapore.

London signed its first major post-Brexit bilateral trade deal with Japan in October.

But this agreement is the first with an ASEAN member country, the Association of Southeast Asian Nations which has ten members and some 650 million inhabitants.

UK Trade Minister Liz Truss praised Singapore's leadership in favour of free trade, after signing the deal with the former British colony which cultivates close ties with London.

"Now that the UK has become a commercially independent nation again, we are free to join this campaign for free trade," she said.

"Singapore is the UK's main trading and investment partner in Asean, while the UK is the leading destination for Singaporean investment in Europe," she said.

This agreement "provides British companies with a platform to access opportunities in the region via Singapore," Singapore Minister of Commerce Chan Chun Sing observed.

For London, it is also a step towards joining the Trans-Pacific Free Trade Agreement, of which Singapore is one of the eleven members.

This partnership, the CPTPP, is the new version of the Trans-Pacific Free Trade Pact (TPP) which was abandoned by Donald Trump.

British Prime Minister Boris Johnson and European Commission President Ursula von der Leyen have given themselves until Sunday to take a decision on the stalled negotiations for a Brexit deal.
Newsletter

Related Articles

0:00
0:00
Close
Decline in Tourism in Majorca Amidst Ongoing Anti-Tourism Protests
British Tourist Dies Following Hair Transplant in Turkey, Police Investigate
Poland Begins Excavation at Dziemiany After New Clue to World War II‑Era Nazi Treasure
WhatsApp Users Targeted in New Scam Involving Account Takeovers
Trump Threatens Canada with Tariffs Over Palestinian State Recognition
Trump Deploys Nuclear Submarines After Threats from Former Russian President Medvedev
Trump Sues Murdoch in “Heavyweight Bout”: Lawsuit Over Alleged Epstein Letter Sets Stage for Courtroom Showdown
Germany Enters Fiscal Crisis as Cabinet Approves €174 Billion in New Debt
Trump Administration Finalizes Broad Tariff Increases on Global Trade Partners
J.K. Rowling Limits Public Engagements Citing Safety Fears
JD.com Launches €2.2 Billion Bid for German Electronics Retailer Ceconomy
Azerbaijan Proceeds with Plan to Legalise Casinos on Artificial Islands
Former Judge Charged After Drunk Driving Crash Kills Comedian in Brazil
Jeff Bezos hasn’t paid a dollar in taxes for decades. He makes billions and pays $0 in taxes, LEGALLY
China Increases Use of Exit Bans Amid Rising U.S. Tensions
IMF Upgrades Global Growth Forecast as Weaker Dollar Supports Outlook
Procter & Gamble to Raise U.S. Prices to Offset One‑Billion‑Dollar Tariff Cost
House Republicans Move to Defund OECD Over Global Tax Dispute
Botswana Seeks Controlling Stake in De Beers as Anglo American Prepares Exit
Trump Administration Proposes Repeal of Obama‑Era Endangerment Finding, Dismantling Regulatory Basis for CO₂ Emissions Limits
France Opens Criminal Investigation into X Over Algorithm Manipulation Allegations
A family has been arrested in the UK for displaying the British flag
Mel Gibson refuses to work with Robert De Niro, saying, "Keep that woke clown away from me."
Trump Steamrolls EU in Landmark Trade Win: US–EU Trade Deal Imposes 15% Tariff on European Imports
ChatGPT CEO Sam Altman says people share personal info with ChatGPT but don’t know chats can be used as court evidence in legal cases.
The British propaganda channel BBC News lies again.
Deputy attorney general's second day of meeting with Ghislaine Maxwell has concluded
Controversial March in Switzerland Features Men Dressed in Nazi Uniforms
Politics is a good business: Barack Obama’s Reported Net Worth Growth, 1990–2025
Thai Civilian Death Toll Rises to 12 in Cambodian Cross-Border Attacks
TSUNAMI: Trump Just Crossed the Rubicon—And There’s No Turning Back
Over 120 Criminal Cases Dismissed in Boston Amid Public Defender Shortage
UN's Top Court Declares Environmental Protection a Legal Obligation Under International Law
"Crazy Thing": OpenAI's Sam Altman Warns Of AI Voice Fraud Crisis In Banking
The Podcaster Who Accidentally Revealed He Earns Over $10 Million a Year
Trump Announces $550 Billion Japanese Investment and New Trade Agreements with Indonesia and the Philippines
US Treasury Secretary Calls for Institutional Review of Federal Reserve Amid AI‑Driven Growth Expectations
UK Government Considers Dropping Demand for Apple Encryption Backdoor
Severe Flooding in South Korea Claims Lives Amid Ongoing Rescue Operations
Japanese Man Discovers Family Connection Through DNA Testing After Decades of Separation
Russia Signals Openness to Ukraine Peace Talks Amid Escalating Drone Warfare
Switzerland Implements Ban on Mammography Screening
Japanese Prime Minister Vows to Stay After Coalition Loses Upper House Majority
Pogacar Extends Dominance with Stage Fifteen Triumph at Tour de France
CEO Resigns Amid Controversy Over Relationship with HR Executive
Man Dies After Being Pulled Into MRI Machine Due to Metal Chain in New York Clinic
NVIDIA Achieves $4 Trillion Valuation Amid AI Demand
US Revokes Visas of Brazilian Corrupted Judges Amid Fake Bolsonaro Investigation
U.S. Congress Approves Rescissions Act Cutting Federal Funding for NPR and PBS
North Korea Restricts Foreign Tourist Access to New Seaside Resort
×