Singapore, EU ink digital trade agreement
Singapore and the EU on May 7 signed a landmark Digital Trade Agreement (DTA) to provide greater clarity and legal certainty for consumers and businesses on both sides to transact online more seamlessly.

The Digital Trade Agreement is signed by Singaporean Minister-in-charge of Trade Relations Grace Fu and EU Commissioner for Trade and Economic Security Maroš Šefčovič. Photo courtesy of ec.europa.eu.
Signed by Singaporean Minister-in-charge of Trade Relations Grace Fu and EU Commissioner for Trade and Economic Security Maroš Šefčovič, this agreement marks a major milestone in deepening EU-Singapore cooperation in the digital domain.
The agreement supplements the EU-Singapore Free Trade Agreement (EUSFTA) that entered into force in 2019.
The EUSDTA aims to set global standards for digital trade and cross-border data flows without unjustified barriers. It includes rules on e-signatures, spam and cyber security, among others. It should also lower costs for businesses, boosting services trade.
The EU is Singapore’s fifth-largest goods trading partner. In 2024, bilateral trade in goods grew to over $100 billion, representing 7.8% of Singapore’s total goods trade.
The bloc is also the second-largest services trading partner of Singapore, with bilateral trade in services reaching over $110 billion in 2023.
Investment ties remain robust, with the EU being Singapore’s second-largest foreign investor and second-largest overseas investment destination.
Meanwhile, Singapore is the EU’s fifth-largest partner in services trade, and more than half of these services are delivered digitally.
Fu said the signing of the EUSDTA is a significant step forward in deepening digital economic cooperation between Singapore and the EU, given the global uncertainties.
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