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EU and S’pore forge closer business ties; EU firms invited to use Republic as springboard into Asean

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SINGAPORE – Businesses in the European Union (EU) are ramping up efforts to collaborate with firms here in areas such as digital technology and sustainability.

Deputy Prime Minister Heng Swee Keat speaking at the 10th anniversary gala dinner of the EU-Asean Business Council on Apr 24, 2024.

These included the ministries of Health, Trade and Industry, Sustainability and the Environment, and Ministry of Communications and Information. The Asean Statistical Database notes that about 91.5 per cent of European foreign direct investment into Asean in 2022 was funnelled through Singapore. “The DTA could allow us to exercise thought leadership in shaping global rules and standards on digital trade, and serve as a pathfinder for a legally binding arrangement between the EU and Asean in future,” Mr Heng said.

 

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