EU/Singapore: next entry into force of the Free Trade Agreement (FTA)
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Theme: |
International trade |
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Country: |
EU / SINGAPOUR |
Singapore is by far the EU's first trading partner in the South-East Asian region : bilateral trade between the two parties exceeds EUR 53 billion for goods and almost as much for services.
More than 10,000 European companies are based in Singapore and are already using this state as a bridgehead to serve all countries in the Pacific region.
The EU/Singapore Agreement has two main components:
- At the commercial level, Singapore will eliminate all Customs duties on imports and will commit to maintaining the current duty-free access for all other products.
In addition to customs duties, Singapore has also agreed to eliminate customs duties. non-tariff barriers(standards, compliance, labelling) in key sectors: automotive, electronics, textiles and clothing, etc.
- LInvestment Protection AgreementOver time, 12 bilateral treaties will be replaced, and a modern common framework will be put in place to facilitate and secure investment between partners.
To go further...
- Contact our experts in global supply chain management to design and manage your import/export and cross-trade scenarios!
- Check out our service offer dedicated to triangular trade operations.
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