UK-Singapore begins negotiations on new digital trade agreement

On Monday, Britain and Singapore are set to commence negotiations on a new digital trade agreement that could potentially remove trade barriers; the move is part of Britain’s push to become what it calls a “global tech powerhouse” post-Brexit.

Following its exit from the EU, Britain is trying to gain new trade deals with countries in the Indo-Pacific region, with the most recent agreement being one with Australia.

Digital trade is seen as key by the government to support British tech companies in capitalising on investment opportunities abroad to try to help a post-COVID recovery.

“A cutting-edge deal with Singapore will keep us at the forefront of the technological revolution, ensuring we lead the way in digitally delivered trade and industries like fintech and cybersecurity,” said British trade minister Liz Truss while adding, “The UK will be the first European country to ever negotiate a Digital Economy Agreement, which shows what we can do as a sovereign trading nation”.

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