Singapore and Europe agree free trade deal

City A.M. Reporter
THE EUROPEAN Union and Singapore agreed to terms of a free-trade deal yestrday, a move that should further open the Asian country’s markets for financial services and make it easier for carmakers to export there.

“We have finalised the negotiations, and I’m very pleased with the result,” said EU trade commissioner Karel De Gucht.

The EU executive, member states and the European Parliament need to sign off for the agreement to come into force.

Though EU countries have sometimes rejected such deals for political reasons, this is unlikely to happen with Singapore.