The European Union and Singapore have successfully concluded talks on the Investment Protection Chapter of the EU-Singapore Free Trade Agreement (EUSFTA). Once the parties have signed and ratified the agreement, EU exporters will be able to ship any goods to Singapore without paying import duties. The two sides have also granted bilateral access to many service markets.
‘The conclusion of this chapter marks a very important step in our partnership with Singapore, strengthening our investment relations’, said EU Trade Commissioner Karel De Gucht. ‘Now, we have a comprehensive agreement which is a gateway to this important region in Asia. It will help boost economic growth, investment and job creation in the EU. It will help opening the door for Europe to the ASEAN market with 600 million consumers.’
The Investment Protection Chapter in the EUSFTA will strengthen investment relations between the EU and Singapore. The chapter commits both the EU and Singapore to ensuring a stable and fair regime for foreign investors while preserving the right of the parties to regulate in the public’s interest.
Negotiations on investment protection had started later based on a new EU competence under the Lisbon Treaty and have only now been completed.