Ireland and Singapore signed a Double Taxation Agreement on 28 October 2010.  As Singapore is the world’s largest exporting nation, the Agreement is expected to have a positive impact on trade and investment between Ireland and Singapore. In 2009, Singapore was Ireland’s 17th largest merchandise trading partner with trade valued at €1.02 billion in 2009.  The signing of this Agreement brings the number of comprehensive double taxation agreements which Ireland has signed to 61.  Further new treaties are in progress and negotiations for new agreements with Armenia, Kuwait, Saudi Arabia, Panama and Thailand have been concluded and are expected to be signed shortly.