Eu-Singapore Trade And Investment Agreements

On 8 November 2019, the European Commission announced that EU member states had approved the EU-Singapore trade agreement, which allows the first EU agreement with a South-East Asian country to enter into force from 21 November. The EU and Singapore have also concluded an investment protection agreement which, after ratification by all EU Member States, can enter into force according to their own national procedures. On 19 October 2018, three agreements were signed between the parties, the EU-Singapore trade agreement, the EU-Singapore Investment Protection Agreement and the Framework Partnership and Cooperation Agreement. [5] [6] The agreement was approved by the European Parliament on 13 February 2019. [7] On November 8, 2019, it was announced that the agreement will enter into force on November 21, 2019. This comes after the Council of the European Union approved the agreement. [1] Bilateral trade and investment negotiations with Singapore began in 2010 and ended in 2017. The agreements with Singapore are the first to be concluded between the EU and a South-East Asian country and are a step towards stronger engagement between the EU and the region. The agreement is expected to be the first free trade agreement with a member of the Association of Southeast Asian Nations and the third with an Asian country after South Korea and Japan from the EU`s point of view. Singapore is the EU`s 14th largest trading partner. Find out the current trade relationship between the EU and Singapore The Investment Protection Agreement must also be approved separately by each EU member state. Singapore is one of the ten ASEAN members. It is the EU`s largest trading partner in ASEAN, accounting for just under a third of EU-ASEAN trade in goods and services and about two-thirds of investment between the two regions.

More than 10,000 EU companies are based in Singapore and use it as a hub for the entire South Pacific. The EU-Singapore Free Trade Agreement (an acronym for EUSFTA) is a free trade agreement signed and ratified between the European Union and Singapore. [1] [2] Bilateral free trade and investment agreements between the European Union and Singapore.