NEWS

Details of the trade agreement between the EU and Singapore

Singapore, is for Lamaignere, one of its strategic reference markets within the Asian continent, being, in fact, the second office in which we are present in the eastern continent. Just a few weeks ago, positively for Spanish companies and in the European Union market, a trade agreement has been formalized between the EU and Singapore.
 
An agreement that although it has not had as much diffusion and notoriety as others that have been signed throughout this year, it will have positive and notable effects for the future of the eurozone and for Singapore.

Some data of the trade agreement between the EU and Singapore

  • The elimination of tariffs will occur, allowing greater customs simplification and mutual recognition of the AEO,
  • There are important provisions on intellectual property protection, investment liberalization, public procurement, competition and sustainable development.
  • Singapore is the largest EU partner in Southeast Asia.
  • Singapore accounted for almost 33% of trade in goods and services between Europe and Southeast Asia,
  • Approximately, 4,000 Spanish companies that export to Singapore,
  • Singapore is part of the ranking of the top 50 trading partners of Spain abroad.
  • 90% of the companies that export to Singapore are SMEs
From Lamaignere, we help companies to export and import with Singapore thanks to our direct presence in this country and of course, we welcome this news with optimism in order to create a greater climate of internationalization and business opportunity between companies.
 

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