When the EFTA-Singapore FTA became effective in January 2003, it was the first such agreement between partners in Europe and East Asia. In 2009, total merchandise trade between the EFTA States and Singapore reached USD 4 billion. Bilateral foreign direct investment and trade in services also stand at significant levels.
In preparation for the Joint Committee, experts from both sides met to discuss options for further developing the FTA in the areas of trade in services and of rules of origin. On that basis, the Committee adopted one decision updating the FTA in relation to trade in fish. It also took stock of ongoing work particularly on services and investment and agreed on the further process.
The EFTA delegation in the Joint Committee was headed by Ambassador Norbert Frick from Liechtenstein, while Ms Tan Lay Lin, Deputy Director for International Negotiations in the Ministry of Trade and Industry, led the Singoporean side.
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