The trade agreement aims to make the business environment more predictable and create new opportunities for businesses in the EU and Singapore, as well as greater choice for consumers. It offers additional market access for a wide range of services. Through this agreement, Singapore will facilitate EU companies operating in telecommunications, environmental services, engineering, data processing and maritime transport. In the field of financial services, European commercial banks will be able, under certain conditions, to increase the number of customer service sites. In some sectors, domestic and foreign service providers are treated equally in terms of rules and regulations, creating a level playing field and predictability. The EU and Singapore reserve the right to set quality and safety standards and to adopt and introduce new rules to pursue legitimate policy objectives such as safety, public health and security. The agreement protects certain sensitive sectors (such as television, radio and cinema, public health and education, social services and water supply) where no commitment is made. The trade agreement will open up new opportunities for companies looking to establish a commercial presence by improving market access for services and many non-service-related sectors such as manufacturing. This means new opportunities to attract investment, for example for. Β industrial production. The separate investment protection agreement must also be approved individually by each EU Member State.

Singapore is by far the EU`s largest trading partner in the Southeast Asia region, with a total volume of more than €53 billion and an additional trade in services of €51 billion. More than 10,000 EU companies are based in Singapore and use it as a hub for the entire Pacific region. Singapore is also the leading European investment site in Asia, with investment between the EU and Singapore growing rapidly in recent years: combined bilateral investment stocks reached €344 billion in 2017. 7. A violation of any other provision of this Convention or of a separate international convention shall not constitute a violation of this Article. The European Parliament approved the agreements on 13 February 2019. EU Member States approved the trade agreement on 8 November 2019. It entered into force on 21 November 2019. The Investment Protection Agreement enters into force after being ratified by all EU Member States in accordance with their own national procedures. HAVING REGARD TO their respective rights and obligations under the WTO Agreement and other multilateral, regional and bilateral agreements and arrangements to which they are parties, in particular the EUSFTA; 6. Where a Party itself or through an entity referred to in paragraph 7 of Article 1.2 (Definitions) has made a specific and clearly formulated commitment in a contractual written commitment (1) to a covered investor of the other Party with respect to the investment of the covered investor or such a covered investment, that Party may, in the exercise of its governmental authority (2): RECOGNISING the importance of transparency in international trade and investment for the benefit of all stakeholders, all members of the tribunals are appointed in advance by the EU and Singapore and are subject to strict rules of independence, integrity and ethical conduct.

All members of the Court adhere to a binding code of conduct contained in the agreement; The agreement contains all aspects of the EU`s new approach to investment protection and its enforcement mechanisms that are not included in existing bilateral investment treaties between Singapore and EU Member States. The agreement replaces the 12 existing bilateral investment treaties and creates a modern common investment protection framework for all EU investors in Singapore. As members of the WTO Agreement on Government Procurement, Singapore and the EU have already made substantial commitments on open government procurement, have modern rules on government procurement, and apply high standards of transparency and procedural justice to their public tenders. . . .