France welcomes the entry into force of the free trade agreement between the EU and Singapore. This is an ambitious and balanced agreement, incorporating the promotion of higher international standards with respect to social rights, environmental protection and the fight against climate change, which will lead to increased trade, to our mutual benefit, and will strengthen relations between the EU and Singapore. In addition to the reduction of customs duties, it will for example lead to significant progress with respect to the protection of intellectual property, notably through the protection of geographical indications (including 36 French geographical indications such as Beaujolais and Châteauneuf-du-Pape, Bayonne ham and Camembert from Normandy), and the reciprocal opening of government procurement markets.
This agreement also serves as a benchmark for the negotiation of trade agreements with other ASEAN countries.
It is fully consistent with our national strategy for the Indo-Pacific region, aimed at affirming, based on an inclusive and nonconfrontational approach, France’s momentum in the region in support of peace and the promotion of global public goods.
An agreement on the protection of investments between the EU and Singapore, based on the new European model relating to this matter, was also negotiated and signed. It will only enter into force once it has been ratified by the EU and all of its member states.