08 Jun '11, 11am

DTN Thailand: EU says close to free trade pact with Singapore: The European Union and Singapore should complete

SINGAPORE (AP) — The European Union and Singapore should complete talks on a free trade agreement in a few months and implement the pact by the end of 2011, aiming to double trade within five years, a top EU negotiator said Wednesday. The trade pact would eliminate several hundred million dollars a year in EU tariffs that Singapore companies currently pay, Chief EU Negotiator Rupert Schlegelmilch said. "We're still discussing technical issues like rules of origin and tariff and services liberalization," Schlegelmilch said at a news conference in Singapore. "But on all these chapters we're very advanced." The EU is also deep into trade agreement negotiations with India and Malaysia and is considering beginning talks with Japan, Vietnam, Indonesia, the Philippines and Thailand, Schlegelmilch said. Trade between the EU and Singapore jumped 22 percent last year, led by higher ...

Full article: http://sg.news.yahoo.com/eu-says-close-free-trade-pact-si...

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