The legal basis for the EU-Singapore co-operation is the 1980 EC-ASEAN agreement.
The EU Delegation to Singapore was opened in December 2002 and since then bilateral relations have steadily progressed with increased co-operation in a number of key areas (transport, R&D, Info Society).
Singapore benefits from the Industrialised Countries Instrument which will enable the development of a wider range of co-operation activities within three main priority areas: Public diplomacy and outreach; Economic partnership and business cooperation and People-to-people links. An EU Centre was established in April 2008 aiming at raising greater awareness and knowledge in Singapore of the EU as a key international player.
The EC and Singapore enjoy a stable and fruitful trade relationship with around 3000 European companies established in Singapore. The EU ranks as Singapore's second major export partner and fourth major import partner with he EU accounting for about 11% of Singapore’s total external trade. Bilateral trade is overall well balanced with a smaller EU surplus (€ 61million in 2007). The EU is also by far the largest source of foreign investment in Singapore (about € 50 billion in 2005).