Sunday , April 18 2021

Strengthening relations between Ireland and Singapore as a signed trade agreement



The European Parliament's main negotiator in the Free Trade Agreement with Singapore, Seán Kelly, welcomed the recent signing of the EU-Singapore trade agreement.

He said the EU-Singapore agreements that have been signed in recent weeks will bring great opportunities for Ireland, particularly the agri-food sector.

He said "it will allow us to strengthen our political, trading and investment relations with Singapore."

Singapore is the EU's largest trading partner in the Southeast Asian bloc and this agreement will be very important to solidify trade relations between Ireland and Singapore, where total merchandise trade in 2016 was valued at € 987 billion.

"Our countries share many similarities from small, open economies with a focus on exports to comparable economic strategies.

Singapore houses about 2,050 to 3,000 Irish migrants, with more than 10,400 EU companies operating in its territory, serving as a hub on the Pacific Rim.

"It is expected that the trade agreement will enter into force in early 2019. There have been several unfortunate delays with this agreement, mainly due to a request from the Commission to the European Court of Justice for a legal clarification."

"Having visited Singapore earlier this year on a fact-finding mission, and having seen the frustration on the Singapore side with these delays during my meetings with them, I am calling today for the rapid ratification of this important and positive agreement as soon as possible" Mr. Kelly added.

– digital table


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