On Friday 17th of November, the European Union (EU) and Singapore concluded the negotiations of the investment part of the EU-Singapore Free Trade Agreement (EUSFTA). This development initiates the conclusion of the negotiations of the entire EUSFTA, following the agreement of the other parts in September 2013.
The Investment Protection Chapter in the EUSFTA will strengthen investment relations between the EU and Singapore. It further commits both the EU and Singapore to ensuring a stable and fair regime for foreign investors while preserving the right of the parties to regulate in the public’s interest.
Commenting on the conclusion of this chapter, EU Trade Commissioner Karel De Gucht said: ‘Now, we have a comprehensive agreement which is a gateway to this important region in Asia. It will help boost economic growth, investment and job creation in the EU. It will help opening the door for Europe to the ASEAN market with 600 million consumers.’
The negotiations on investment protection had started later based on a new EU competence under the Lisbon Treaty.
The Investment Protection Chapter will now undergo legal scrubbing before both sides will formally finalize the negotiations. After the agreement has been translated into all official EU languages the agreement will be signed and ratified by both parties.
For more information, please consult the Press Release