Singapore, EU launch bilateral digital trade agreement negotiations

It will build on earlier digital partnership and digital trade principles signed earlier.

Singapore and the European Union (EU) have begun negotiations for a bilateral digital trade agreement.

Minister of Trade and Industry Gan Kim Yong announced the negotiations in a videoconference with Valdis Dombrovskis, trade commissioner and the executive vice president of the European Commission for An Economy that Works for People.

“Singapore and the EU are like-minded and digitally progressive partners who share a strong commitment to upholding open and rulesbased trade, and business-friendly environments,” Gan was quoted saying. 

“The digital trade agreement will strengthen our economic and investment ties by enabling new opportunities in the digital realm for our businesses and people,” he added.

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The new trade agreement will also build on Singapore and EU’s Digital Partnership and Digital Trade Principles inked earlier in 2023 and expand both parties’ efforts to advance digital connectivity and shape global digital trade rules. 

“Singapore looks forward to working with the EU to expeditiously conclude negotiations on the digital trade agreement and bring our economic and digital partnership to new heights,” Gan said.