The European Commission in Brussels welcomed the European Council to give the green light to the signing of the EU-Singapore Trade and Investment Agreement, which is due to be formally signed on Friday. Trade Commissioner Cecilia Malmström said that the approval of member states opens new opportunities for European producers and farmers. "Singapore is an important gateway to the Asia-Pacific region," she said. "It is important that our companies have a foothold there."
In a statement issued in Brussels, Asharq Al-Awsat said the agreements also promote sustainable development because they include ambitious commitments on the protection of the environment and workers' rights, support for the right to organize, and another example of the EU's determination to work with Countries of similar thinking in order to support international rule-based trade.
The decision of the European Council, which represents the member states of the Union, came on the proposal of the Commission in this regard in April, and the agreement between the leaders of the Union and Singapore will be signed next Friday, on the sidelines of the EU-Asia summit in the presence of the leaders of 21 countries As well as the leaders of the bloc. After the signing, the European Parliament will vote on the agreements and then enter into force. The EU statement said the EU-Singapore Free Trade Agreement is expected to come into effect in 2019, before the expiry of the term of the current EU Commissioner.
In April, the European Commissioner in Brussels announced the results of negotiations with Japan (an economic partnership) and Singapore (trade and investment) to reach agreements.
The European Commission believes that the signing of "full and detailed" agreements with these two important partners will benefit the EU's exporters, workers and consumers, as they will be able to provide the equivalent of one billion euros a year that has so far paid customs duties on European exports to Japan alone.
The European Union wants to get administratively and financially better access to a market with a total consumer population of 600 million, of whom 127 million are in Japan alone.
In a statement issued in Brussels, Asharq Al-Awsat said the agreements also promote sustainable development because they include ambitious commitments on the protection of the environment and workers' rights, support for the right to organize, and another example of the EU's determination to work with Countries of similar thinking in order to support international rule-based trade.
The decision of the European Council, which represents the member states of the Union, came on the proposal of the Commission in this regard in April, and the agreement between the leaders of the Union and Singapore will be signed next Friday, on the sidelines of the EU-Asia summit in the presence of the leaders of 21 countries As well as the leaders of the bloc. After the signing, the European Parliament will vote on the agreements and then enter into force. The EU statement said the EU-Singapore Free Trade Agreement is expected to come into effect in 2019, before the expiry of the term of the current EU Commissioner.
In April, the European Commissioner in Brussels announced the results of negotiations with Japan (an economic partnership) and Singapore (trade and investment) to reach agreements.
The European Commission believes that the signing of "full and detailed" agreements with these two important partners will benefit the EU's exporters, workers and consumers, as they will be able to provide the equivalent of one billion euros a year that has so far paid customs duties on European exports to Japan alone.
The European Union wants to get administratively and financially better access to a market with a total consumer population of 600 million, of whom 127 million are in Japan alone.
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