EU-Singapore Free Trade Agreement
|
|
|
|
| EU | Singapore |
The EU-Singapore Free Trade Agreement , acronym EUSFTA , is a free trade and investment protection agreement between the European Union and Singapore . After ratification, the agreement entered into force on November 21, 2019.
From the point of view of the EU, the agreement is the first free trade agreement with a member of the Association of Southeast Asian Nations and the third agreement with an Asian country after South Korea and Japan . It is one of the so-called new generation free trade agreements , which also include TTIP and CETA .
Content of the agreement
EUSFTA covers the following topics:
- Abolition of import duties and taxes
- Simplified market access for services
- Market access for public tenders
- Increased cooperation in the field of customs and trade facilitation
- Removal of technical and non-tariff barriers to trade
- Cooperation in the implementation of health and phytosanitary measures
- Improved protection of intellectual property rights
- Strict compliance with competitive rules
- Renewed commitment to sustainable development
history
EUSFTA has been negotiated since March 2010, the text of the contract was published in June 2015. The negotiations on goods and services were concluded in 2012, those on investment protection on October 17, 2014. The agreement was signed by the EU and Singapore in October 2018.
Historical data on trade in goods between Singapore and the EU:
ratification
According to an opinion by the Court of Justice of the European Union (ECJ) in Luxembourg, EUSFTA can be classified as a so-called mixed agreement. In order to be able to come into full force in its current form, all 28 national parliaments of the individual EU states would have to agree to the agreement, which increases the risk that the agreement will fail due to the refusal of individual EU states.
The key message of the report is:
- " The provisions of the agreement on foreign investments other than direct investments and on the settlement of disputes between investors and states do not fall under the exclusive competence of the Union, so that the agreement cannot be concluded in its original form without the participation of the member states. "
The report was commissioned by the European Commission , which wanted to have confirmed that only the EU organs are authorized to conclude the agreement and do not require the consent of the national parliaments.
Web links
- Contract text of the EU-Singapore Free Trade Agreement. European Commission, accessed March 17, 2018 .
See also
Individual evidence
- ↑ EU-Singapore Agreement. Retrieved March 23, 2020 .
- ^ Nele Behrends, Philipp Kubicki, Hannes Rathke: Info letter PE 6 - 3010 - 044/17. (PDF, 537 kB) German Bundestag , July 10, 2017, p. 7 f. , accessed March 17, 2018 .
- ^ EU-Singapore Free Trade Agreement. Authentic text as of May 2015. June 29, 2015, accessed July 10, 2017 .
- ^ Singapore - Trade - European Commission. February 22, 2017, accessed March 17, 2018 .
- ↑ Singapore, European Union sign landmark free trade, partnership agreements. October 20, 2018, accessed November 3, 2018 .
- ↑ Eurostat, accessed on 31 July 2018
- ↑ Press release No. 52/17. (PDF, 175 kB) Court of Justice of the European Union, May 16, 2017, accessed on March 16, 2018 .
- ↑ Christoph Jehle: ECJ slows down EUSFTA free trade agreement. Heise online , May 25, 2017, accessed on March 17, 2018 .