EU Commissioner Ferrero-Waldner to visit Singapore on 10th October

Commissioner for External Relations and European Neighbourhood Policy, Benita Ferrero-Waldner will visit Singapore on 10th October. In Singapore the Commissioner will meet with Prime Minister Lee Hsien Loong and Senior Minister Goh Chok Tong. Discussions will cover a wide range of bilateral and regional issues of mutual concern, including the strengthening EU-Singapore political and economic relations, through the negotiation of a Partnership and Co operation Agreement; the EU's role in the region particularly its contribution to supporting integration between the countries of the Association of South East Asian Nations (ASEAN). The Commissioner's visit to Singapore follows a trip to Malaysia the previous day.

Before her trip, Commissioner Ferrero-Waldner said: " However far apart we may be geographically, the EU and Asia's interests are drawing ever closer: trade and economic development is of course a key interest but of growing importance are the challenges of organised crime, trafficking in drugs and human beings and the threat of terrorism. Asia and Europe need to work together to promote sustainable development, peace and security, regional stability and dialogue on cultures and civilisations". She added|: "Singapore is a natural partner for the EU in Asia. You are a hub for European business, and you have a pivotal position as a country that can articulate Asia's views to Europe - and vice versa. Singapore is a marketplace of ideas, and I know I will return to Brussels with new inspiration".

The EU is currently negotiating a Partnership and Cooperation Agreement with Singapore in order to provide a solid contractual base for the EU-Singapore relationship. The agreement offers the possibility of immediate enhanced cooperation with the European Community on a wide range of policy areas including trade and investment, higher education, science and technology and it will provide the springboard for a wider Free Trade Agreement.

The EU strongly supports ASEAN's efforts to promote regional co operation. Given its own experience of regional integration, the EU is well-placed to support ASEAN's own Action Programme which has the goal of creating an ASEAN Community by 2020.

BACKGROUND

With about 4.4 million people, Singapore is the most advanced economy of the ASEAN countries. Despite new trends in investment, Europe, Japan, and the US remain the primary sources of foreign investment in Singapore.

Singapore acts as the hub for European business in the Asia-Pacific region and is the EU´s most important trading partner in ASEAN, representing around 30% of the total EU/ASEAN trade. In 2004 Europe overtook the US as Singapore's first top export market after Malaysia. Bilateral trade totalled €42 billion in 2005 up from €40 billion in 2004.

The European Commission opened a Delegation in Singapore in December 2002.

For more information:
http://ec.europa.eu/comm/external_relations/singapore/intro/index.htm

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• EU celebrates 25 years of co-operation with ASEAN  (9/12/2005)