Brussels, 29/11/2012 (Agence Europe) - EU Trade Commissioner Karel De Gucht hopes to sign a free-trade deal with Singapore later this year that will set a trend for other countries in the ASEAN area.
De Gucht said on Thursday 29 November that a final free-trade deal with Singapore was in the offing and all the EU27 member states want better access to the Singapore market, to which the United States already has preferential access. The Commissioner told reporters after a meeting of EU27 trade ministers that the EU wanted to set a good reference point for other free-trade deals with ASEAN nations (the Association of South East Asian Nations). Singapore is the EU's biggest trading partner in the region, accounting for 30% of trade and 60% of investment, covering more than 8,000 European companies.
De Gucht pointed out that in the long term, the EU wants agreement with the entire ASEAN group, but was working firstly on the basis of agreements with individual countries, mentioning Malaysia and Vietnam. Meanwhile, he said, “Everyone is on the same line so let's make a deal this year if possible.” with Singapore. (EH/transl.fl)