Singapore Taiwan Free Trade Agreement

Despite Singapore`s free trade agreement (FTA) with China, Taiwan`s special access to the mainland is seen as attractive to Singapore businesses through its economic cooperation agreement and helps Taiwan make its industrial structure more service-oriented, ANZ economists Raymond Yeung and Louis Lam said in a research note. A spokesman for the Chinese Foreign Ministry commented on the Taiwan-Singapore pact, saying Beijing had „no questions regarding foreign countries that are establishing economic, trade and cultural relations with Taiwan. But we are against all foreign countries that have developed official government relations. This agreement will not only allow Taiwanese companies to access Singapore`s small but increasingly prosperous consumers, but will also allow Singaporean service providers to complement Taiwanese industry. By 2020, these two agreements are expected to bring Taiwan closer to joining not only the Regional Economic Partnership (RCEP), but also the TPP. TPP membership is a goal expressed by Taiwanese President Ma Ying-jeou, who will bring former Taiwanese Vice President Vincent Siew to the United States with an 18-member delegation at the end of this week. This is a list of free trade agreements between two parties where each party could be a country (or other customs territory), a trading bloc or an informal group of countries. Satish Bakhda, Chief Operating Officer at Rikvin, commented on the impact of ASTEP on Singaporean businesses: „This agreement will not only allow Taiwanese companies to access Singapore`s small but increasingly prosperous consumers, but will also enable Singaporean service providers to complement taiwanese industry.

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