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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.

More 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

Bilateral negotiations with Singapore were launched in March 2010 and the trade and investment agreements reached with Singapore are the first to have been concluded between the EU and a Southeast Asian economy and represent a stepping stone to a greater engagement between the EU and the region.

Singapore and ASEAN

Singapore is one of the 10 members of the Association of Southeast Asian Nations (ASEAN) and 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.

Ensuring better access for EU exporters to the dynamic ASEAN market is a priority for the EU. 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 to give way to a bilateral format of negotiations. These bilateral trade and investment agreements were conceived as building blocks towards a future region-to-region agreement.

More information on ASEAN

Trading with Singapore