Trade deal signed between Singapore and the EU

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Kamall: Trade deal with Singapore opens door to EU trade with south-east Asia

After years of negotiations and delays after the EU insisted on reopening negotiations after agreement had been reached in 2014, the long-awaited trade deal between the EU and Singapore has finally received the green light by the European Parliament.

The EU will eliminate tariffs on all imports from Singapore over a period of five years. Singapore will grant immediate duty-free access for all imports from the EU. The deal will also see the removal of a number of non-tariff measures between the EU and Singapore, improving access for exporters of pharmaceuticals and electronics.
Syed Kamall, co-Chairman of the ECR Group who was previously the lead MEP for the parliament on EU-Singapore team, said the deal means a host of new business opportunities for European companies. More than 10,000 EU businesses have their regional offices there, and 50,000 EU companies already export to Singapore.

Dr Kamall said: “Today’s Singapore is a vibrant hub of transport, logistics and tech businesses. It is a gateway to the dynamically growing southeast Asia region and removing the trade barriers will give the much-needed impetus to both our economies.”

“While I am pleased we have finally passed this deal, it should really have been agreed in 2014.  I want to thank the Singaporeans for their patience when in 2014 the EU insisted on re-opening negotiations after both parties had initialled a deal.  Let us hope that the EU does not act in such bad faith for future trade agreements.”

ENDS

Contact: Jan Krelina, jan.krelina@ep.europa.eu, +32 493 214 346
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