Trade with EU vital for S'pore economy
EU accounts for 10% of GDP, employment; FTA would boost exports by billions
[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.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
New Articles
Singapore top recipient of Q1 cross-border investments in Apac: Knight Frank
Dasin Retail Trust’s trustee-manager chairman, directors deny allegations of misconduct
Keppel Infrastructure Trust posts 29.1% lower Q1 distributable income
Bitcoin faces worst month since FTX crash with ETF demand cooling
AIA launches wealth centre targeting high-net-worth clients
Prudential’s Q1 new business profit down 2% at S$743 million