After two years of negotiations, Taiwan and Singapore may be close to signing a free trade agreement. Singapore Airlines currently offers only two daily flights between Taiwan and Singapore. However, it sees potential for growth once the two sides sign a free trade agreement. Benjamin Chan, Singapore Airlines’ general manager for Taiwan, said: “It will open up a lot more opportunities for businesses to come into Taiwan, and Taiwanese businessmen to Singapore to explore collaboration and expand businesses.”

Airlines are not the only ones that will benefit from the FTA, which focuses mainly on lowering tariffs and opening up the service sector. Since Taiwan’s industries are not in direct competition with those in Singapore, analysts expect the accord will prove to be complementary.