Following the European Parliament's consent to the EU-Singapore Free Trade Agreement (EUSFTA) and Investment Protection Agreement (EUSIPA) last Wednesday (13 February), more positive news about EU-Singapore trade and investment is now available.
According to European Commission statistics that have just been released, EU-Singapore trade in goods reached a record high of €58 billion in 2018, an increase by 9% compared to 2017. When trade in goods and services combined, EU-Singapore trade has now surpassed the symbolic €100 billion landmark. With regard to investment, EU FDI stocks reached €227 billion in 2017, an increase by 15.8% on a year-to-year basis. The EU remains the largest foreign investor in Singapore.
The European Union Ambassador to Singapore H.E. Barbara Plinkert calls this "clear evidence of the dynamic trade and investment relations between two like-minded partners who support free and fair trade."
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