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Singapore

Singapore

The EU and Singapore launched trade and investment negotiations in 2010. These have now been completed and the finalised trade and investment agreements have been formally approved by the European Commission. The agreements now need to be agreed upon by the Council and the European Parliament.

Extra details and the text of the EU-Singapore Free Trade Agreement and Investment Protection Agreement 

Trade picture

  • Singapore is the EU's 14th largest trading partner (trade in goods) and the EU's largest trading partner in the Association of South-East Nations (ASEAN).
  • The EU has a positive balance of trade in goods and in services with Singapore.
  • Singapore is a major destination for European investments in Asia, as well as Asia's third largest investor in the EU (after China and Japan).
  • In 2016 the existing bilateral foreign direct investment stock between the EU and Singapore was roughly €256 billion, having expanded rapidly over the past years.

EU-Singapore: Trade in goods

Trade in goods 2015-2017, € billions
Year EU imports EU exports Balance
2015 19.0 29.9 10.9
2016 19.5 31.5 12.0
2017 20.1 33.2 13.0

EU-Singapore: Trade in services

Trade in services 2014-2016, € billions
Year EU imports EU exports Balance
2014 16.3 22.0 5.7
2015 21.5 23.1 1.6
2016 22.0 22.4 0.4

EU-Singapore: Foreign direct investment

Foreign direct investment 2016, € billions
Year Inward stocks Outward stocks Balance
2016 87.7 167.8 80.2

Date of retrieval: 16/04/2018

More statistics on Singapore

EU and Singapore

Singapore is the EU's largest commercial partner in ASEAN, accounting for slightly under one-third of EU-ASEAN trade in goods and services, and roughly two-thirds of investments between the two regions.

Over 10,000 EU companies are established in Singapore and use it as a hub to serve the whole South Pacific.

Negotiations for a region-to-region trade and investment agreement between the EU and ASEAN were launched in 2007 and paused by mutual agreement in 2009.

In December 2009, the EU decided to pursue bilateral trade and investment negotiations with individual ASEAN countries, starting with Singapore.

Negotiations with Singapore relaunched in March 2010. The FTA is the first deal between the EU and a Southeast Asian economy. The EU considers it a stepping stone to greater engagement between the EU and Southeast Asia.

More information on ASEAN

Trading with Singapore