Green light for Free trade with Singapore

The European Parliament today (13 February) granted the green light to free-trade and investment protection agreements between the European Union and Singapore. This move is particularly important given that Singapore is the EU's largest trading partner within ASEAN (the Association of Southeast Asian Nations). In the EU trade policy, linking with the ASEAN region is one of the priorities. The Association of Southeast Asian Nations represents a market of about 630 million inhabitants, and GDP is expected to grow by 4.8% in 2019. It is one of the most important markets for the EU outside the European continent.

"We appreciate that the EU is fulfilling its commitment to be open to fair free trade and investment and building modern business relationships with such dynamic economies as Singapore," said President of the Confederation of Industry of the Czech Republic Jaroslav Hanák.

In addition to bilateral trade between the EU and Singapore, the agreements will also bring benefits to companies of all sizes when entering the markets of other countries in the Southeast Asia region, undoubtedly one of the world's fastest growing economies.
Gbelec Ondřej
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