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- Negotiations and agreements
The European Union and Singapore have negotiated a Free Trade Agreement and an Investment Protection Agreement.
The agreements aim to:
- remove nearly all customs duties and get rid of overlapping bureaucracy;
- improve trade for goods like electronics, food products and pharmaceuticals;
- stimulate green growth, remove trade obstacles for green technology and create opportunities for environmental services, and;
- encourage EU companies to invest more in Singapore, and Singaporean companies to invest more in the EU.
The EU-Singapore trade and investment protection agreements were signed on 19 October 2018. The European Parliament gave its consent to the agreements on 13 February 2019.
EU Member States endorsed the trade agreement on 8 November 2019. It entered into force on 21 November 2019. The investment protection agreement will enter into force after it has been ratified by all EU Member States according to their own national procedures.
EU-Singapore in your town
European Commission Executive Vice-President and Trade Commissioner Valdis Dombrovskis and Singapore Minister-in-charge of Trade Relations S Iswaran co-chaired the inaugural Trade Committee meeting under the EU-Singapore Free Trade Agreement.