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Joint Press Release - 17 May 2013
17 May 2013
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Singapore and the Separate Customs Territory of Taiwan, Penghu, Kinmen and Matsu (Chinese Taipei), both members of the World Trade Organisation (WTO), have substantively concluded negotiations for the “Agreement between Singapore and the Separate Customs Territory of Taiwan, Penghu, Kinmen and Matsu on Economic Partnership” (ASTEP).
Both sides agreed on 15 December 2010 to launch negotiations after their respective feasibility studies concluded that an economic cooperation agreement between the two sides would offer significant mutual benefits. The first round of negotiations was held in May 2011. The ASTEP is a comprehensive and high quality agreement covering areas such as trade in goods, trade in services, investment, dispute settlement, e-commerce, government procurement and customs procedures.
Both sides will begin legal scrubbing of the agreement, which is expected to conclude shortly.
SINGAPORE TRADE OFFICE IN TAIPEI
TAIPEI REPRESENTATIVE OFFICE IN SINGAPORE
17 May 2013