The economic impact of the EU - Singapore Free Trade Agreement

Dg Trade European Commission
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Dg Trade European Commission: DG Trade
Authors registered in the RePEc Author Service: Csilla Lakatos and Zornitsa Kutlina-Dimitrova

No 2013-2, DG TRADE Chief Economist Notes from Directorate General for Trade, European Commission

Abstract: This Chief Economist Special Report analyses the economic benefits of the recently negotiated agreement between the EU and Singapore. The results estimated in this paper suggest that the bilateral reduction of tariff and non-tariff barriers in services trade brings benefits for both sides: Singapore GDP is expected to increase by € 2.7 billion whereas the EU gains are assessed at € 550 million. In addition, EU exports to Singapore would rise by some € 1.4 billion and Singapore's exports to the EU by some € 3.5 billion. Given that this is the EU's first FTA with an ASEAN member country and the second one with a key Asian trading partner after the conclusion of the EU-Korea FTA, this agreement sets an important benchmark for future FTAs with countries in the region.

Keywords: International Trade; Economic modelling; FTA (search for similar items in EconPapers)
JEL-codes: F13 F41 F47 (search for similar items in EconPapers)
Pages: 74 pages
Date: 2013-09-01
New Economics Papers: this item is included in nep-int and nep-sea
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Citations: View citations in EconPapers (1)

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