Trade Agreement
Chinese Minister of Commerce Wang Wentao and Singaporean Minister for Trade and Industry Gan Kim Yong signed a memorandum of understanding on April 1 to announce the conclusion of latest negotiations on an upgraded bilateral free trade agreement (FTA).
The upgraded FTA, which will boost market access for businesses from both countries, adds a new standalone chapter on telecommunications and incorporates high-level economic and trade rules on national treatment, market access, transparency and the digital economy, among others, the Ministry of Commerce said in a statement.
The two sides also confirmed that there will be no rollback of opening-up