On Oct. 17, the European Commission announced the conclusion of EU-Singapore Free Trade Agreement (EUSFTA) negotiations. More details, including links to the full text and highlights of the agreement, are available in this European Commission press release.
Because Singapore has zero duties on beef and pork imports, the market access portion of the FTA is not expected to have a significant impact on trade. The text does, however, include specific requirements for plant approvals. Geographic indicators, which are a major point of emphasis in EU trade negotiations, are also addressed.
Through August, EU pork/pork variety meat exports to Singapore were up 42 percent from a year ago to 23,872 mt, making it the EU’s 10th-largest volume market. Export value was up 38 percent to $71.2 million (ninth-largest).
EU beef exports to Singapore have more than doubled this year, but are still very small. Exports through August totaled 321 mt valued at $1.6 million.
Data source: Global Trade Atlas