EFTA and Singapore meet for eighth round of negotiations towards a digital economy agreement

Delegations from the EFTA States and Singapore met in Geneva from 14 to 16 May for the eighth negotiation round towards a digital economy agreement (DEA).

Esther Hauert Wermuth, Head of the Trade in Services Division at the Swiss State Secretariat for Economic Affairs, acted as the EFTA spokesperson, while Chua Shun Loong, Director of the Europe and Central Asia Division in Singapore’s Ministry of Trade and Industry, headed Singapore’s delegation.

The delegations discussed all outstanding issues and succeeded in moving the already advanced negotiation process closer to finalisation by agreeing on a number of substantive provisions, furthering their understanding and sounding out landing zones. Amongst others, the articles setting out the scope of the DEA and on cooperation and review were agreed.

The EFTA States and Singapore committed to detailed follow-up activities, with a view to concluding negotiations in the near future.

Find more about the overall DEA process here.

Economic relations between the EFTA States and Singapore

Total trade between the EFTA States and Singapore has grown exponentially over the last 20 years. In 2023, total merchandise trade between the EFTA States and Singapore reached more than EUR 10 billion. The main imports to the EFTA States were pharmaceutical products, while most exports to Singapore were organic chemicals, and clocks and watches. Services trade and foreign direct investment between the knowledge- and technology-driven economies are likewise at a high level.

Read more about merchandise trade between EFTA and Singapore here.