In 2022, digitally delivered services accounted for 55% of total EU trade in services, representing €670 billion in imports and €661 billion in exports from non-EU countries.

Bilateral trade negotiations between the EU and Singapore began in 2010 and concluded in 2017, resulting in the establishment of the Free Trade Agreement and Investment Protection Agreement.

On July 25, 2024, the European Union and Singapore successfully concluded negotiations on the Digital Trade Agreement (DTA), building on the 2019 EU-Singapore Free Trade Agreement.

The DTA introduces ambitious and binding commitments focused on digital trade, enhancing the existing framework established by the Free Trade Agreement.

This agreement aligns with the EU's digital trade policy, which aims to foster digital transformation and economic security while ensuring compliance with EU data protection regulations.

Key elements of the DTA include enhanced online consumer protection, legal certainty for businesses, trusted data flows, and the elimination of unjustified digital trade barriers.

The Council has adopted a decision to sign the DTA with Singapore and provisionally supported its conclusion, pending approval from the European Parliament.

Following the signing, the DTA will undergo a ratification process that requires the European Parliament's consent before the Council can finalize the agreement.