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- Trade topics
- Negotiations and agreementsTrade policy
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 and the trade agreement 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 . As of February 2022, 12 Member States have ratified it.
- Singapore is the EU's 16th largest trade in goods partner and the EU's second largest trading partner in the Association of Southeast Asian Nations (ASEAN) in 2020.
- The EU has a sizeable positive balance of trade in goods and in services with Singapore.
- Singapore is a major destination for European investments in Asia, and the third largest Asian investor in the EU (after Japan and Hong Kong).
- In 2020 the bilateral foreign direct investment stock between the EU and Singapore was roughly €348 billion, having expanded rapidly in the preceding years.
The EU and Singapore
Bilateral trade and investment negotiations with Singapore began in 2010 and completed in 2017. The agreements with Singapore are the first to have been concluded between the EU and a Southeast Asian country, and represent stepping-stones to a greater engagement between the EU and the region.
Singapore and ASEAN
Singapore is one of the 10 members of ASEAN. It is the EU's second largest commercial partner in ASEAN, accounting for slightly under one-third of EU-ASEAN trade in goods and services, and roughly two-thirds of investments between the two regions. Over 10,000 EU companies are established in Singapore and use it as a hub to serve the whole South Pacific.
Committees and Dialogues
The EU and Singapore meet regularly to discuss issues and best practices and oversee the proper functioning of the Agreement.
Trading with Singapore
- Importing into the EU from Singapore
- EU trade defence measures on imports from Singapore
- Exporting from the EU to Singapore
- Trade relations are part of the EU's overall political and economic relations with Singapore
- Singapore is a member of the World Trade Organization
- Sustainable impact assessment of the EU-ASEAN Countries Free Trade Agreement (FTA)
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.