CESCE, Country Risk
On October 19, the European Commission and the Singapore government concluded a free trade agreement.
![[Img # 29381]](https://empresaexterior.com/upload/images/10_2018/9224_singapur.jpg?31)
The city-state of Singapore It only has 6 million inhabitants, but of all the member countries of ASEAN, the organization to which it belongs, is currently the main commercial partner of the European Union. Not less than 10.000 European companies are present in Singapore, where the Union Last year, it exported goods and services worth a total value of €50.000 million. With the signing of this agreement, the Europeans also intend to open a path to the conclusion of future trade agreements with other member countries of ASEAN, a region that in 2030 could become the fourth world economic power. In fact, conversations between European Union and ASEAN for the signing of a free trade agreement began several decades ago, although in 2009 they were interrupted at European requests, as the Union preferred to privilege bilateral agreements, that is, country to country. On the same day as the signing of the trade agreement, another was also signed regarding the reciprocal protection of investments between Singapore and European Union. However, unlike the first, this second agreement has not yet come into force since, for this to happen, it must first be ratified by each of the 28 national parliaments, which could delay the entire process between one and two years. .
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