The Free Trade Agreement between European Union and Singapore (EUSFTA) will soon be approved by the Council of Ministers and ratified by the European Parliament. The aim is for the EUSFTA to come into force before the European Commission’s mandate ends in 2019.
The EUSFTA aims to provide opportunities for consumers and producers by eliminating customs duties on qualifying goods. Services providers, investors and companies will also be allowed greater protection and access to each other’s markets, including in the area of public procurement.
With this agreement, the EU has made an important stride towards setting high standards and rules for the important and fast-growing Southeast Asian Region.
Here is an in depth article about the “important step” in the ratification process of the trade pact welcomed by Singapore.
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