Renew Europe welcomes the European Parliament's strong endorsement of the EU-Singapore Digital Trade Agreement (DTA), a landmark accord that establishes modern rules for the digital economy while safeguarding European values.
With more than half of the Union's trade with the world conducted digitally, this agreement responds to the need for updated and modern rules complementing the EU-Singapore FTA, and helps the EU shape global trading rules. The DTA with Singapore is the EU's first stand-alone digital trade agreement and the first occasion that digital provisions are agreed with an ASEAN country.
The agreement removes unjustified barriers to electronic trade in services, goods, and public procurement, while maintaining the EU's high standards for data protection. It prohibits unjustified data localisation requirements, bans customs duties on electronic transmissions, and encourages regulatory cooperation on cybersecurity—all while preserving the right to regulate for legitimate policy objectives.
Renew Europe MEP Svenja Hahn (FDP, Germany), rapporteur for the agreement, stated:
“The European Parliament has written history today by approving the first ever EU stand-alone digital trade agreement! This agreement sets internationally new standards for digital trade and takes our trade partnership with Singapore to the next level. After the broad support in today’s plenary vote the message is clear, the EU should work for more digital trade agreements with more partners.”
Svenja HahnRenew Europe MEP, Germany, Freie Demokratische Partei
At a time when protectionist policies and inward-looking approaches are gaining ground, Renew Europe stresses that it is essential for the EU to pursue its strategy of diversifying trade agreements. The EU is showing the way forward.