The European Parliament just voted in favour of the new trade and investment agreements with Singapore. The Parliament has the final say over EU trade agreements and Member of the European Parliament Marietje Schaake (ALDE/D66) welcomes today's outcome, which allows for the first trade agreement between Europe and Southeast Asia to enter into force.
Schaake: ‘Singapore is a strategic hub for Europe. By eliminating unnecessary barriers to trade, European companies will be able to export both their goods and services to the rapidly growing economies of Southeast Asia faster, easier and cheaper. Within the next ten year that will lead to an added economic benefit of up to 550 million euros.’
Schaake emphasises that the agreements with Singapore also send an important signal about Europe’s progressive and fair trade agenda.
Schaake: ‘While Trump is building up protectionist barriers and China prefers unfair trading practices, Europe is wasting no time concluding rules and values-based trade agreements. This allows us to set a high bar internationally when it comes to the environment, human rights and labour.'