(Oct 20): The European Union and Singapore signed free-trade and investment protection agreements in Brussels on Friday in a bid to improve bilateral business ties amid rising global trade conflicts.

The EU and Singapore will remove tariffs, reduce technical barriers, and provide better opportunities in services and government procurement under the deals, the Singapore government said in a statement Friday.

The city-state will drop tariffs on all products coming from the European Union. The EU will remove tariffs on 84% of Singapore’ products and the remaining 16 percent over three to five years. The investment-protection agreement will replace the existing bilateral treaties and set up a new dispute-resolution mechanism for investors.

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