Parliament decides on Wednesday whether to approve the free trade and investment protection agreements between the EU and Singapore.
Serving as a blueprint for future trade deals between the EU and Southeast Asia, the free trade agreement will remove virtually all tariffs between the two parties within five years. It will allow for free trade in services, protect unique European products, and open up the Singaporean procurement market to EU companies. The agreement includes strengthened labour rights and environmental protection.
Separately, the Parliament will also vote on an investment protection agreement providing a court system with independent judges to settle disputes between investors and states; and a partnership and cooperation agreement, which extends cooperation beyond the field of trade.
Singapore is by far the EU’s largest partner in the region, accounting for almost a third of EU-ASEAN trade in goods and services, and roughly two-thirds of investment between the two regions. Over 10,000 European companies have their regional offices in Singapore.
Debate: Tuesday, 12 February
Vote: Wednesday, 13 February (TBC)
Press conference: Wednesday, 13 February at 14:30