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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.
The European Union and Singapore are negotiating a digital trade agreement. Negotiations were launched on 20 July 2023.
Digital trade refers to commerce enabled by electronic means – by telecommunications and/or ICT services – and covers trade in both goods and services. It affects all sectors of the economy and is highly important for European industry.
The goal of the future EU-Singapore digital trade agreement is to:
- build consumer trust;
- ensure predictability and legal certainty for businesses, and;
- remove and prevent the emergence of unjustified barriers to digital trade.
The agreement will preserve the ability of the EU and Singapore to develop and implement the policies required to address new challenges posed by the digital economy, including to protect privacy and personal data.
EU-Singapore in your town
Joint Statement by Commission Executive Vice-President Valdis Dombrovskis and Singaporean Minister for Trade and Industry Gan Kim Yong on the launch of negotiations on an EU-Singapore digital trade agreement.
Today, the EU and Singapore are strengthening their cooperation as strategic partners. The Partnership reflects the dynamic relation the EU has built with an open and outward-oriented economy and a vibrant logistics and financial hub in South-East Asia.
Joint statement by President von der Leyen and Prime Minister Lee on the EU-Singapore Digital Partnership
Joint statement by the EU and Singapore announcing the substantial conclusion of a new Digital Partnership between the EU and Singapore.