Written by Krisztina Binder, graphics: Giulio Sabbati,
On 18 April 2018, the European Commission proposed to the Council of the EU to sign and conclude two agreements with Singapore. These agreements were created by dividing the free trade agreement reached between the EU and Singapore (EUSFTA) in 2014, but not ratified, into separate trade and investment protection agreements. When presenting the agreements, the Commission underlined that they demonstrate the commitment of Singapore and the EU to fair trade and open markets. The Council of the EU is expected to authorise the signature of the agreements in October 2018. The Commission aims to have the trade agreement come into effect before the end of its mandate in 2019, after its approval by the Council and the European Parliament.
Singapore will be the first member state of the Association of Southeast Asian Nations (ASEAN) to sign bilateral trade and investment agreements with the EU. The EU views bilateral agreements with ASEAN members as steps towards achieving the final objective of a region-to-region trade and investment agreement with ASEAN. Therefore, the EU‑Singapore agreements are considered a reference as regards the EU’s ambition to conclude trade and investment agreements with other ASEAN members.
|Trade Agreement and Investment Protection Agreement between the European Union and its Member States, of the one part, and Singapore, of the other part|
|Committee responsible:||International Trade (INTA)|
|David Martin (S&D, United Kingdom)|
Read the complete briefing on ‘EU-Singapore trade and investment agreements close in on conclusion‘ on the Think Tank pages of the European Parliament.