EU-Singapore Free Trade Agreement: Institutional and Economic Aspects

Abstract

The EU is a major economic and political integration bloc, while Singapore is the economic center of the Asia-Pacific region. Establishing cooperation between these actors not only means intensification of bilateral ties between them but can also serve as a platform for the creation and expansion of cooperation between entire regions - the EU and ASEAN. The article analyzes the changes in trade and economic relations between the EU and Singapore as a result of the entry into force of the EU-Singapore agreement. It is concluded that the agreement has had restrained effects in the short term. At the same time, it can serve as an important tool for strengthening EU trade and investment ties in the ASEAN region, therefore the model of such an agreement with additional “individual add-ons” can be used by Brussels with other economic partners.