China & Singapore reach agreement to further upgrade Free Trade Agreement
China signed an upgraded free trade agreement with Singapore after three years of multiple rounds of intensive consultations. Under the agreement, both sides agreed to liberalize services and investment in the form of a negative list, which could provide more market space for investors and service providers from both countries,
This is a new milestone in China-Singapore economic and trade relations, which will not only further stimulate the potential of service trade and investment cooperation between them but also strengthen the institutional guarantee for enterprises on both sides.
In addition, signing the agreement is also an important step for China to join the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP).
