31st Jan 2008
Singapore has completed negotiations of a free trade pact with the six-nation Gulf Cooperation Council, the government said.
The trade agreement, which covers areas such as financial services and e-commerce, will allow Singapore and the six Arab states to have tax-free access into each others' markets, Singapore's Trade Ministry said in a statement.
It said officials will begin to pore over the legal details of the agreement.
Singapore, where the value of its external trade was twice its gross domestic product in 2006, already has 13 free trade agreements with countries including the United States. - Reuters
