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Seminar on EU-Singapore Free Trade Agreement

28.05.2019  11:15

On 23 May, the Royal Danish Embassy in Singapore and the Danish Business Association in Singapore (DABS) held a seminar about the new free trade agreement between Singapore and EU and its potential benefits for Danish businesses.

The seminar aimed at providing businesses with insights on how to use the EU-Singapore Free Trade Agreement as a starting point for increasing export opportunities, creating stronger partnerships and adding value to existing activities.

Speakers from the Danish Ministry of Foreign Affairs in Copenhagen, the EU Delegation in Singapore, Grundfos and Enterprise Singapore shared their perspectives  and analyses on ‘what’s in it for Denmark’. Through practical solutions and cases, the speakers introduced how free trade agreements can pave the way for better market access and provide benefits from shared standards and tariff reductions. Moreover, dialogues and discussions went into details about new EUSFTA tools and how companies may benefit from using multiple free trade agreements across the region. Both one-on-one dialogues and workshops in trade of goods and services, gave the approximately 60 representatives from more than 25 different companies a chance to go in-depth on concrete cases benefitting their businesses.

The Royal Danish Embassy would like to thank our co-host DABS, and express delight to see so many Danish businesses attend the seminar and express eager to implement the new tools to facilitate stronger business relations and partnership between Denmark and Singapore. 

Download presentations from the seminar here

EUSFTA in brief

The main elements of the EUSFTA is tariff reductions, removal of non-tariff barriers (e.g. international product standards), better market access (including access to public procurement contracts) and better enforcement of intellectual property rights. This will make it easier for EU companies to export services and goods to Singapore and vice versa.  The commencement of the EUSFTA is mainly after its ratification, but for some parts, it will be from three to five years.

Want to know more about the EUSFTA and how to get support from the Danish Ministry of Foreign Affairs?

Please contact the Royal Danish Embassy in Singapore at sinamb@um.dk, if you want further information about how EUSFTA can create value for your company.