EU, S'pore to begin negotiating economic partnership agreement

EU, S'pore to begin negotiating economic partnership agreement

Associated Press, Singapore

European trade commissioner Pascal Lamy said on Tuesday that negotiations between Singapore and the European Union on an economic co-operation agreement may start within weeks.

The pact would fall short of a free trade agreement - something Singapore has been eager to explore with the EU - but could help pave the way for an eventual FTA between Europe and the Association of Southeast Asian Nations (ASEAN), Lamy said.

"We are currently discussing with member states the detailed negotiating mandate for such an agreement and hope to be able to start negotiations very soon," Lamy said.

Asked to give a more specific timeframe, he said: "within weeks now, very soon."

The Singapore-EU agreement would include economic co-operation on the environment, agriculture, transport, energy, industrial policy, science and technology, education, and culture, Lamy said in a speech to the Singapore Business Federation.

Lamy reiterated the EU's commitment to multilateral or region- to-region trade pacts in explaining why it has not pursued a bilateral trade pact with Singapore.

The approach is designed to ensure "the strong can't cut out the weak" and is meant to "favor developing countries, particularly the most vulnerable," he said.

The bilateral co-operation agreement was first proposed two years ago by former Singapore former Trade Minister George Yeo. Yeo now serves as the city-state's foreign minister.

In Singapore for a two-day visit, Lamy met recently appointed Prime Minister Lee Hsien Loong, Yeo and other top leaders to discuss the co-operation agreement and World Trade Organization (WTO) issues.

ASEAN comprises Brunei, Cambodia, Indonesia, Laos, Malaysia, Myanmar, the Philippines, Singapore, Thailand and Vietnam.