Investment Protection Agreement Eu Singapore

September 24, 2021

A total of 80 MEPs voted in favour of adopting the agreement. As of June 30, 2019, Singapore`s direct investment in Estonia amounted to €136.2 million, according to the Bank of Estonia. This represents 0.6% of direct investment in Estonia. Investment was mainly in manufacturing, which accounts for 83% of investment. TALLINN ( ) — Estonia`s parliament on Thursday adopted the Free Trade and Investment Agreement between the European Union and Singapore, which aims to improve the investment climate between the EU and Singapore. For the free trade agreement to enter into force, the EU (Parliament and Council) and Singapore must ratify the agreement. On 13 February 2019, the European Parliament approved both the Free Trade Agreement and the Investment Protection Agreement and the Free Trade Agreement is expected to enter into force as soon as possible. [7] [9] Estonia`s direct investment in Singapore amounted to €2.5 million. Investments were made in manufacturing, retail and wholesale trade, information and communication, finance and insurance, real estate, the professional sector, research and technology. As part of the trade deal, Singapore will remove all remaining tariffs on EU products. The agreement also offers new opportunities for EU service providers, notably in sectors such as telecommunications, environmental services, engineering, data processing and maritime transport.

It will also make the business environment more predictable. The agreement will also allow the legal protection of 138 iconic European food and drink products, known as geographical indications. Singapore is already the third destination for such European specialties. Singapore has also agreed to remove trade barriers in addition to tariffs in key sectors, for example by recognising EU safety tests for cars and many electronic devices, or by accepting labels used by EU companies for textiles. The EU-Singapore Free Trade Agreement, an acronym EUSFTA, is signed and ratified[1][2] Bilateral Free Trade and Investment Agreement between the European Union and Singapore. EuSFTA has been under negotiation since March 2010 and its text has been publicly available since June 2015. [3] Negotiations on goods and services were concluded in 2012 and investment protection on 17 October 2014 [4] The path to the implementation of the EU-Singapore Free Trade Agreement (NAFTA) has not been easy. The European Commission (EC) began preliminary FTA negotiations with the Association of Southeast Asian Nations (ASEAN) in 2007, but they were all unsuccessful.

The Commission therefore considered that bilateral agreements could serve as cornerstones for a strategy from one region to another. . . .