The Agreement between Singapore and the Separate Customs Territory of Taiwan, Penghu, Kinmen and Matsu on Economic Partnership (ASTEP) is a high quality comprehensive agreement that will liberalise and facilitate trade in goods, trade in services and investments between both markets. ASTEP is an important agreement for Singapore. It provides preferential tariff access that offers Singapore exporters competitive advantage in an important market of 23 million. It also includes provisions on intellectual property, government procurement, e-commerce, competition and dispute settlement.
Find out more via our ASTEP Booklet
A simple framework of ASTEP is shown below: