Trade with EU vital for S'pore economy

[SINGAPORE] Singapore's chief negotiator for the European Union-Singapore Free Trade Agreement (EUSFTA), Keith Tan, left little in doubt about the importance of the EU to Singapore's economy when he said at a seminar yesterday: "If the EU were to drop off from the globe and our trade with the EU disappears overnight, 10 per cent of our GDP and 10 per cent of our employment will disappear overnight as well.

"We are deeply connected with the EU and our trade with the EU is vitally important for the health of the Singapore economy and for Singapore employment, especially in the high value-added sectors which create good jobs for Singaporeans," Mr Tan said in a keynote address at a seminar on the EU-Singapore free trade deal.

The European Chamber of Commerce (Singapore) and the Singapore Business Federation (SBF) hosted the half-day seminar.