An economic agreement with Singapore is set to take effect on Apr. 19.
The foreign ministry said on Wednesday that the agreement is expected to boost trade and investment between the two sides. It also said that the agreement can enhance trade liberalization in Taiwan and create favorable conditions for Taiwan to join the Trans-Pacific Partnership (TPP) and the Regional Comprehensive Economic Partnership (RCEP).
Taiwan and Singapore signed the agreement last November, making Singapore the first Southeast Asian country to sign such a pact with Taiwan. Singapore is the fifth biggest trade partner of Taiwan, and its fourth biggest export market.