Close Menu
    Latest Category
    • Finance
    • Tech
    • EU Law
    • Energy
    • fx
    • About
    • Contact
    EUbusiness.com | EU news, business and politicsEUbusiness.com | EU news, business and politics
    Login
    • EU News
    • Focus
    • Guides
    • Press
    • Jobs
    • Events
    • Directory
    EUbusiness.com | EU news, business and politicsEUbusiness.com | EU news, business and politics
    Home

    EU-Singapore Trade Agreement underlines free trade as a vehicle for growth and prosperity

    npsBy nps13 February 2019Updated:28 June 2024 No Comments2 Mins Read
    — Filed under: Focus
    Share
    Facebook Twitter LinkedIn Pinterest Email
    — last modified 13 February 2019

    Speaking after the approval of the EU-Singapore Trade and Investment agreements by the European Parliament today EuroCommerce Director-General Christian Verschueren said:


    Advertisement


    “Singapore evolved from a developing country to one of the most sophisticated and prospering economies in Asia within one generation. This success story can be put down almost entirely to Singapore’s unequivocal commitment to free trade. The European Parliament’s approval today opens a further avenue for mutual benefit through open and free markets, and confirms the EU as a promoter of the world trading system where important partners seem to be turning away from it.”

    Singapore is by far the EU’s most important partner in the ASEAN group. Total bilateral trade in goods in 2017 was over 53 billion euro and a further 44 billion in services in 2016. Over 10,000 EU companies are established in Singapore to serve the whole Pacific region. The trade agreement with Singapore will remove nearly all remaining tariffs on EU products, simplify customs procedures and set high standards and rules. The Free Trade Agreement simplifies trade in goods like electronics, food products, alcoholic drinks and pharmaceuticals, and opens up the market for various services.  It is complemented by a separate agreement, also approved today, covering investment.

    Both agreements still need a final sign-off from the Council, allowing the trade agreement to enter into force. The investment treaty will need also to be ratified by national parliaments.

    Verschueren concluded: “Today’s approval by the European Parliament creates a solid bridge for trade with the booming economies in the ASEAN group. We are keen to see the Council follow suit in ratifying the trade agreement quickly, so that it can enter into force and benefit the European economy, and that national parliaments give the investment treaty priority to give additional certainty to European companies keen to invest in the region.”

    EuroCommerce

    Add A Comment

    Leave A Reply Cancel Reply

    You must be logged in to post a comment.

    nps
    • Website

    Related Content

    EU approves EUR 300m for common defence procurement projects

    EU proposes e-declaration for the posting of workers

    EU calls on Apple to end geo-blocking on media services

    EUR/USD touches one year low as Trump takes control of Congress – Euro currency news daily

    EU artificial intelligence factories set for 2025

    Council agrees reform of EU VAT rules for the digital age

    LATEST EU NEWS

    EU approves EUR 300m for common defence procurement projects

    14 November 2024

    EU proposes e-declaration for the posting of workers

    14 November 2024

    EU calls on Apple to end geo-blocking on media services

    14 November 2024

    EUR/USD touches one year low as Trump takes control of Congress – Euro currency news daily

    14 November 2024

    EU artificial intelligence factories set for 2025

    13 November 2024
    BRIEFING

    Agenda

    This week, COP29 begins in Azerbaijan; finance ministers discuss the EU's annual budget for 2025; and MEPs hold a plenary session on EU-US relations, EU summits, deforestation and COP 29...

    EUbusiness Week

    This week competitiveness and environment ministers will hold informal meetings…

    Eurozone Economic Calendar

    Key economic calendar events for the week 11 to 16 November 2024

    The Week's Top Stories

    This week competitiveness and environment ministers will hold informal meetings…

    Advertisement

    Subscribe to EUbusiness Week

    Get the latest EU news

    Latest Posts

    EU approves EUR 300m for common defence procurement projects

    14 November 2024

    EU proposes e-declaration for the posting of workers

    14 November 2024

    EU calls on Apple to end geo-blocking on media services

    14 November 2024

    EUR/USD touches one year low as Trump takes control of Congress – Euro currency news daily

    14 November 2024

    CONTACT INFO

    • EUbusiness Ltd 117 High Street, Chesham Buckinghamshire, HP5 1DE United Kingdom
    • +44(0)20 8058 8232
    • service@eubusiness.com

    INFORMATION

    • About Us
    • Advertising
    • Contact Info

    Services

    • Privacy Policy
    • Tems
    • EU News

    SOCIAL MEDIA

    Facebook
    eubusiness.com © EUbusiness Ltd 2025
    Design and developed by : Dotsquares

    Type above and press Enter to search. Press Esc to cancel.

    Sign In or Register

    Welcome Back!

    Login below or Register Now.

    Lost password?

    Register Now!

    Already registered? Login.

    A password will be e-mailed to you.

    We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it.Ok