S'pore wants free trade agreement with Europe

S'pore wants free trade agreement with Europe

SINGAPORE (Agencies): Singapore wants to establish a free
trade agreement with Europe in addition to the pacts it is
forming with the U.S., Japan, Mexico, Australia and Canada, a top
trade official said Tuesday.

"We would ... like to establish free trade with Europe," said
Trade and Industry Minister George Yeo.

European Free Trade Association - a free trade pact between
Switzerland, Norway, Liechtenstein and Iceland - has already said
it would like to negotiate a free trade agreement with Singapore,
Yeo said.

"I hope we will be able to interest the European Union as
well," Yeo said in a speech at a trade forum organized by
Singapore's Trade Development Board.

Meanwhile, a team of U.S. trade experts have arrived in
Singapore to check out local practices before the resumption of
free trade negotiations in Washington later this week.

The U.S. team includes specialists in competition policy,
customs and textile export practices, labor and environment
standards.

They will meet their Singapore counterparts "and will be
briefed on Singapore's policies and system," the government said
in a statement.

Singapore and the United States began talks last month on a
free trade deal -- a pact that would be a first for an Asian
state with Washington.

Although they failed to meet their end-of-year target to seal
an agreement, both sides remained confident a deal would be
reached.

"The visit of the U.S. team to Singapore and the start of the
second round of negotiations in Washington DC reflect the
commitment of both countries to build on the substantial progress
that was achieved during the first round of negotiations," the
Singapore government said.

Both Singapore and the United States have stressed their
proposed accord will not undermine the World Trade Organization
after some critics said such deals could include bilateral
clauses that could clash with multilateral commitments.