The Investment Protection Chapter will now undergo legal scrubbing before both sides will formally finalise the negotiations. After the agreement has been translated into all official EU languages the agreement will be signed and ratified by both parties.
The EU-Singapore FTA
The EUSFTA is a comprehensive agreement with extensive commitments by both parties to provide greater access to each other’s markets, including through the liberalisation of services, investment and procurement markets, and the removal of tariff or non-tariff (i.e. regulatory or technical) barriers to trade. Singapore exporters of electronics, pharmaceuticals, chemicals and processed food products in particular will benefit from the removal of the EU’s tariffs, while EU exporters will be granted immediate duty-free access to the Singaporean market for all products. Businesses from both sides will also be able to gain access to each other’s services markets in a wide range of sectors. Furthermore, the EUSFTA will see the removal of a number of non-tariff measures between the EU and Singapore, improving access for exporters of pharmaceuticals and electronics. Both sides have made a special effort to use the agreement as a means to stimulate green growth. In addition to removing obstacles to trade and investment in certain green technologies, the EUSFTA will foster green public tendering and create new opportunities in environmental services.