Brussels, 03/03/2010 (Agence Europe) - As anticipated, European Trade Commissioner Karel De Gucht, and Singaporean Minister for Trade and Industry Lim Hng Kiang, meeting in the framework of the Asian tour of the representative of European trade policy, on Wednesday 3 March officially launched negotiations for a bilateral free-trade agreement (FTA) between the EU and Singapore. After the meeting, De Gucht and Lim stressed their commitment rapidly to conclude an ambitious agreement. The first round of talks will be held in Singapore from 8-12 March. The EU and Singapore already have very close economic ties, which will be bolstered by the FTA. The EU is the largest trade partner and largest foreign investor of Singapore, with the city-state itself the number one partner of the EU within the ASEAN region and the 15th globally. In 2008, bilateral trade exceeded the level of €55 billion. The EU and Singapore also have solid bilateral links for investment, with the total level of bilateral investments reaching €100 billion in 2007. (E.H./transl.fl)