The Committee on International Trade adopted the report by David MARTIN (S&D, UK) on the draft Council decision on the conclusion of the Free Trade Agreement between the European Union and the Republic of Singapore.
The committee recommended that the European Parliament give its consent to conclusion of the agreement.
The agreement aims to liberalise and facilitate trade and investment between the parties. It defines the conditions under which EU economic operators can take full advantage of the opportunities offered in Singapore, the hub of economic activity and transport in South East Asia.
Increased trade flows with Singapore must go hand in hand with increased level of labour and environmental protection, promote EU values and uphold EU standards. All this has been ensured in the free trade agreement.