EU & Singapore open negotiations on Digital Trade Agreement

21.07.2023 Press and information team of the Delegation to SINGAPORE

EU Trade Commissioner Valdis Dombrovskis and Singapore's Trade and Industry Minister Gan Kim Yong said in a joint statement released on 20th July 2023 that the talks aim to bring the economic partnership underpinned by the 2019 EU-Singapore Free Trade Agreement into the digital domain.

Read the joint statement https://policy.trade.ec.europa.eu/news/joint-statement-launch-negotiations-eu-singapore-digital-trade-agreement-2023-07-20_en

On his Twitter, EVP Dombrovskis (@VDombrovskis) wrote: "We're taking the EU-Singapore trade relationship to the next level. Building upon the successful EU-Singapore FTA we are now deepening our partnership in the digital domain and starting talks to reach a digital trade agreement. Here's what it means:

Digital is key to future competitiveness. Over 60% of global GDP is already linked to digital transactions. EU & Singapore are stable & global digital leaders. We want to shape global rules on digital trade, creating opportunities for industry & tech and promoting our values.

A Digital Trade Agreement:

- Builds consumer trust

- Ensures predictability and legal certainty

- Removes and prevents unjustified barriers to digital trade. Let's get to work."

Read The Straits Times coverage https://www.straitstimes.com/business/eu-and-singapore-open-negotiations-on-digital-trade-agreement