On Thursday, December 3rd 2020, the European Union in Singapore together with Singapore's Ministry of Trade and Industry celebrated the first anniversary of the EU-Singapore Free Trade Agreement. This agreement has heralded a new chapter in EU-Singapore trade and economic relations. The event was supported by Enterprise Singapore, the Singapore Business Federation and the European Chamber of Commerce in Singapore (EuroCham).
This hybrid event included keynote speeches by Mr S.Iswaran, Singapore’s Minister for Communications and Information and Minister-in-Charge of Trade Relations and Mr Valdis Dombrovskis, European Commission Executive Vice-President for An Economy that Works for People.
European Union Ambassador to Singapore Barbara Plinkert and Mr Jaya Ratnam, Singapore’s Ambassador to the European Union delivered the opening remarks.
The Way Ahead – Supporting Business Cooperation
This also marks the beginning of a new phase in the cooperation between the EU and Singapore - a phase that focuses on supporting business exchanges laying the ground for a resilient and sustainable recovery.
The European Commission, Singapore’s Ministry of Trade and Industry and Enterprise Singapore signed an administrative arrangement on Cluster Cooperation. This agreement is a practical instrument to help our business community take advantage of the many opportunities offered by the EUSFTA.
This was followed by a panel discussion on the EUSFTA.
The evening also saw the signing of the Memorandum of Understanding between the Singapore Business Federation and EuroCham Singapore. This Memorandum of Understanding covers partnership in the marketing and organisation of initiatives related to sustainability, including sustainable employment, as well as driving digital adoption and building digital capabilities among companies.
More in our joint media release: