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www.europe.org.sg
EU-SingaporETrade & Investment
2010
European Union
The European Union
500 million citizens
27 member statesAustria, Belgium, Bulgaria, Cyprus, Czech Republic, Denmark, Estonia, Finland, France, Germany, Greece, Hungary, Ireland, Italy, Latvia, Lithuania, Luxembourg, Malta, The Netherlands, Poland,
Portugal, Romania, Slovakia, Slovenia, Spain, Sweden, United Kingdom
23 official languages
5 European Union (EU) institutionsEuropean Parliament, Council of the European Union,
European Commission, Court of Justice & Court of Auditors
One single marketA union of different traditions and cultures but one shared vision of freedom, prosperity and democracy
Freedom to live, work and study anywhere in the EU
Do you want to know more about the EU? Visit our website at
www.europe.org.sg
EU-SINGAPORE TRADE & INVESTMENT 2010 | 01
EU-SINGAPORETrade & Investment
2010Contents
2 MessagefromtheEUTradeCommissioner, KareldeGucht
4 MessagefromtheEuropeanUnionAmbassadortoSingapore, HolgerStandertskjöld-Nordenstam
6 Introduction
9 EU—TheWorld’sNo.1Economy
13 TradeandInvestmentRelationswithSingapore
22 TradeandInvestmentRelationswithASEAN
27 EUDelegationsinASEAN ContactInformation
30 EuropeanChambersofCommerceinASEAN ContactInformation
32 AbouttheEUDelegationtoSingapore
02 | EU-SINGAPORE TRADE & INVESTMENT 2010
ThecommercialandpoliticaltiesbetweenEuropeandSouth-EastAsiahaveexistedforcenturies,andtheyhavegrownfromstrengthtostrengthastheworldeconomyhasbecomemoreglobalised.TherolethatSouth-EastAsia,andespeciallySingapore,playsinglobalsupplychainsisdemonstratednotonlybytheflowofgoodsimportedfromtheregiontotheEU,butalsobythegrowingpresenceofEuropeancompaniesintheregion.
TheEUseekstoimproveconditionsfortradeandinvestmentwhereverpossible.Ourpriorityfortradeliberalisationisthroughmultilateralarrangements,andourmainfocuscontinuestobeworkingwithourpartnersattheWorldTradeOrganisation(WTO).However,werecognisethatthereisscopefordeepercooperationbetweentheEUandkeypartnerssuchasSingaporethatcomplementsthemultilateraltradeagenda.
Indeed,theEUandSingaporeshareanumberofcommongoalsandhavebothrecognisedthebenefitsofregionalintegration.ThefuturewillseeanongoingpartnershipthathasplacedtheEUamongSingapore’sfirsttradingpartners,andSingaporeistheEU's12thlargesttradingpartner.Furthermore,theEUandSingaporehaveinvestedover€100billionineachother'seconomiesovertheyears.BeingoneoftheEU'smostimportanttradingpartnersinAsiaandthebiggestinASEAN,SingaporeisinfactakeypartnerfortheEU.
Messagefrom
TheEUTradeCommissioner
EU-SINGAPORE TRADE & INVESTMENT 2010 | 03
Inordertodeepenevenfurtheroureconomicandtraderelations,Singapore’sMinisterforTradeandIndustryMr.LimHngKiangandIdecidedtolaunchnegotiationsforafree-tradeagreement(FTA)betweentheEUandSingaporeon3March2010.TheEU–SingaporeFTAmarksamilestoneintheEU'slongstandingrelationswithSingaporeandanimportantstepping-stoneinourengagementwiththeASEANregion.
Ihopethatthisbookletwillserveasausefulsourceofinformationforbusinesses,officialsaswellasthebroaderaudiencetolearnaboutandbuildupontheexcellenttiesthatexistbetweentheEUandSingapore.
Karel De GuchtEUTradeCommissioner
04 | EU-SINGAPORE TRADE & INVESTMENT 2010
TheEUandSingaporesharemanycommonfeaturesandvalues,suchasadeeprespectforcultural,religiousandlinguisticdiversityandacommitmenttoregionalintegration.
Throughoutthesepages,youwilldiscoverthatwith27MemberStates,nearly500millionpeopleandthelargestGDPintheworld,theEUisofcriticalandincreasingeconomicimportancetoSingapore,evenmoresoinasluggishworldeconomicenvironment.
Thisbrochureisdesignedtogiveyouanoverviewof:
•TheEUintheworldineconomicterms;
•TheEUtradeandinvestmentrelationswithSingapore;
•TheEUtradeandinvestmentrelationswithASEAN.
Messagefrom
EuropeanUnionAmbassadortoSingapore
EU-SINGAPORE TRADE & INVESTMENT 2010 | 05
InadditiontolearningthattheEUistheworld’slargesteconomy,youwilldiscover,amongotherthings,thattheEUisSingapore’slargesttradingpartnerandisthelargestsourceofforeigndirectinvestment(FDI)intoSingapore.TheEUalsohasaconsiderablebusinesspresence(withabout8,000EuropeancompaniesoperatinginSingapore),whichissupportedbytheEuropeanChamberofCommerce(EuroCham)andtheEuropeanNationalBusinessGroups.Theon-goingfree-tradeagreementnegotiationsbetweentheEUandSingaporearefurtherproofoftheimportancebothpartiesattachtodeepeningevenfurtheroureconomicrelations.
IhopethatthisbookletwillenhanceyourunderstandingofthesignificanceofthetraderelationshipbetweentheEUandSingapore.
Holger Standertskjöld - NordenstamAmbassadorandHeadofDelegation
06 | EU-SINGAPORE TRADE & INVESTMENT 2010
TheEUhas27MemberStates,nearly500millionpeopleandthelargestGDPintheworld.TheEU is of critical and increasing importance to Singapore and ASEAN.
The EU and ASEAN are both groupings of like-minded countriesthathave,intheirownways,embarkeduponregionaleconomicintegrationandclosecooperationinmanyfields.Althoughthetworegionshavedistinctfeaturesandverydifferentstartingpoints,theyhavebothbeensuccessfulindismantlingtradebarriersandbuildinglastingmechanismsforpolicycoordination.
ASEANisagroupofheterogeneouscountries,mostofwhicharestillclassifiedasdevelopingcountries.Singaporehasgrowntobecometheregion’smostprosperouscountrylargelybasedonitspositionasatradinghubcloselyconnectedtoglobalcommerce.
Itssuccessasatradingnationisbeingfollowedbyitsmuchlargerneighbours,whohavealsoshownagrowingpotentialtoreapthebenefitsofglobalisation.TheASEANCharterhasthepotentialtooffertheregionincreasingmomentumbyboostingtradeandreinforcingeconomiccooperation.
TheEUisofcriticalandincreasingimportancetoSingaporeandASEAN
Introduction
TheEUandASEANarebothgroupingsoflike-mindedcountries
EU-SINGAPORE TRADE & INVESTMENT 2010 | 07
The EU is ASEAN’s largest overall trading partner, ahead of China and the United States.Infact,theEUaccountsfor11.3%ofASEAN’stotalexternaltrade.In2008,overallmerchandisetradebetweenASEANandtheEUamountedto€143billion.
In 2009, the EU was Singapore’s largest trading partner. AccordingtostatisticsfromSingapore,theEUaccountsfor11.6%ofSingapore’stotalexternaltrade.ThisfigureputstheEUaheadofChina,theUnitedStatesandotherASEANmembersincludingMalaysia.Singapore is also the EU’s number one trading partner in ASEAN.Moreover,theEUisbyaclearmarginthemost significant source of FDI in Singapore.
Thisprivilegedrelationshiphasanevenbrighterfutureaheadasnegotiationsonafree-tradeagreementbetweenthetwoeconomiesareexpectedtobesealedinthenearfuture.
TheEUisSingapore’slargesttradingpartnerandmostsignificantsourceofforeigndirectinvestment
TheEUisASEAN’slargestoveralltradingpartner,aheadofChinaandtheUnitedStates
08 | EU-SINGAPORE TRADE & INVESTMENT 2010
• 28%ofglobalGDP–theworld'slargesteconomy• 500millionconsumers–theworld'smostlucrativemarket• 21%ofglobalcross-bordertrade–theworld'slargesttradingblock• 50%ofglobaloutwardFDI–theworld'slargestoutwardinvestor• 43%ofglobalinwardFDI–theworld'sprimeinvestmentdestination• Asinglemarket,asingletariff,asinglesetofrules
EU in the World
EU-SINGAPORE TRADE & INVESTMENT 2010 | 09
EU–TheWorld'sNo.1EconomyTheEUistheworld’slargesteconomywitha28%shareofworldGDP
TheriseofemergingAsiancountriesasmanufacturingcentresintheglobalmarketplacehasbeentrulyremarkable.Increasinglysophisticatedsupplychains,cheapandefficientcommunicationtechnologiesandtheavailabilityofvastamountsofcheapbutskilledlabourhavemadethesecountriesundisputedbeneficiariesofglobalisation.TheEUhasalsobenefitedfromthesedevelopments.
TheEUcomprises27MemberStates.Itstradingpartnersbenefitgreatlyfromsuchalargemarket,inwhichasinglesetoftraderules,asingletariff,andasinglesetofadministrativerulesapplyacrossthearea,making iteasier forcompaniestodobusinesswiththeEU.
The EU is the world’s largest economy with a 28% share of world GDP, and its 500 million inhabitantsmake ittheworld’s most lucrative consumer market.Itisalsotheworld’s largest tradingentity,accountingfor21%ofglobaltradeingoodsand44%ofglobaltradeifonetakesintoaccounttradebetweenEUMemberStates.Of the top trading nations, six belong to the EU. Furthermore,theEUaccountsfor26%ofglobaltradeinservices(excludingtradeinservicesbetweenEUMemberStates).
World leading nations/entities in merchandise trade in 2008 (€ billion)
Source:WTO,WorldTradeReport2009,Eurostat
EU27
(in
cl. i
ntra
-eu)
900080007000600050004000300020001000
0
EU27
(exc
l. in
tra-e
u) US
Germ
any
Chin
a
ASEA
N
Japa
n
Fran
ce
Net
herla
nds
Italy UK
Belg
ium
Cana
da
Sout
h Ko
rea
Hong
Kon
g
Spai
n
Sing
apor
e
10 | EU-SINGAPORE TRADE & INVESTMENT 2010
TheEUisawell-establishedglobaleconomicpowerhouse,withgrowthratesmatchingthoseoftheUnitedStates.Between2000and2008theEUhadanannualGDPgrowthof2.2%onaverage,whereasthatoftheUSAgrewby2.3%annuallyoverthesameperiod.
TheEU’sstrengthisfurthersubstantiatedbythefindingsoftheWorldEconomicForum’sGlobalCompetitivenessReport(2009-2010),showingthatfiveoutofthetenmostcompetitivecountriesintheworldareEUMemberStates.AlsonoteworthyisthatSingaporeisinthirdplaceinthisranking.
CountrySwitzerlandUSASingaporeSwedenDenmarkFinlandGermanyJapanCanadaNetherlands
Global CompetitivenessIndex (GCI) 2009-2010
rank12345678910
GCI2009-2010
score5.605.595.555.515.465.435.375.375.335.32
Source:WorldEconomicForum,GlobalCompetitivenessReport2009-2010
EU-SINGAPORE TRADE & INVESTMENT 2010 | 11
European companies are world champions of globalisation,demonstratedbythefactthatoutoftheworld’stop-20non-financialmultinationalcorporations(MNCs)rankedbyforeignassets,14arefromtheEU,accordingtoUNCTAD.The EU is the world’s biggest investor.In2008,foreigndirectinvestments(FDI)abroadamountedtoaroundUS$8.08trillion.Thiscorrespondsto50%oftheworld’stotalexistingoutwardFDIstock.In2008,theEUwasthesourceof45%oftheworld’sFDIoutflows.
ThefactthatEuropeancompaniesaretheworld’smostactiveinvestorsoverseasisnotanindicationofalackofopportunitiesforgrowthintheirhomemarket–onthecontrary, the EU remains the world’s number one location for FDI.In2008,theEUwashosttoforeigninvestmentsworthUS$6.4trillion,whichcorrespondstoaround43%oftheworld’stotalinwardFDIstocks.GrowthinFDIannualinflowstotheEUhasincreasedconsiderablysincethe1970s.IntermsofFDIinflows,ChinaandtherestofAsiastillhaveconsiderablecatching-uptodo:in2008,inflowstotheEUtotalledUS$503billion,whereasChinareceivedUS$108billion,andAsiaasawholeUS$388billion.
Europeancompaniesareworldchampionsofglobalisation
TheEUremainstheworld’snumberonelocationforFDI
TheEUistheworld’sbiggestinvestor
12 | EU-SINGAPORE TRADE & INVESTMENT 2010
Source:UNCTADWorldInvestmentReport2009
Stocks of inward FDI US$ Billion
1990 2000 2008
7000
6000
5000
4000
3000
2000
1000
0
EUUSAsiaHongKongJapan
Source:UNCTADWorldInvestmentReport2009
Stocks of outward FDI US$ Billion900080007000600050004000300020001000
01990 2000 2008
EUUSAsiaJapan
EU-SINGAPORE TRADE & INVESTMENT 2010 | 13
Trade & InvestmentRelations withSINGAPORE
14 | EU-SINGAPORE TRADE & INVESTMENT 2010
In2009,theEUbecameSingapore’slargesttradingpartner ingoods.AccordingtotheSingaporeDepartmentofStatistics, in2009,theEUaccountedfor11.6%ofSingapore’stotalexternaltrade,purchasing9.5%ofSingapore’sexportsandproviding14%ofitsimports.ThesefiguresputitaheadofChina,theUSAandotherASEANmembers.EU–SingaporeoverallmerchandisetradeamountedtoS$86.8billion,a33%increasefromits2003levelofS$65.1billion.
ThegrowthinEU–SingaporetradecanbelargelyattributedtotheroleofSingaporeasatradinghubinSouth-EastAsia.AstheASEANcountriescontinueonthepathofregionalintegration,thestrategicpositionofSingaporeisbecomingincreasinglyattractivefortradingpartnerssuchastheEU.
Singapore is the EU’s number one trading partner in ASEAN, largelybyvirtueofitsstrongabsorptioncapacityandgatewayadvantagestowardstheSouth-EastAsianregion.Globally,Singapore is the EU’s 12th largest trading partner, while it ranks fifth in Asia.
Overtheyears,tradeingoodsbetweentheEUandSingaporehasbeenexpandingstrongly,reachinganaverageannualgrowthrateofabout9.5%fortheperiod2003-2008.ThisishigherthanthegrowthinSingapore’stradewithMalaysia,JapanandtheUSA.However,duetothefinancialandeconomiccrisis,andthecollapseofworldtrade,EU–Singaporetradefellby9%in2009.In 2009, the EU recorded a trade surplus of €5.8 billion.
TheEUisSingapore’slargesttradingpartner
1.TradeinGoods
SingaporeistheEU’s12thlargestpartnerworldwide
StrongtradegrowthbetweentheEUandSingaporebetween2003and2008
EU-SINGAPORE TRADE & INVESTMENT 2010 | 15
Singapore’s top 10 trading partners in 2009
Rank12345678910
CountryEU
MalaysiaChinaUSA
IndonesiaHongKong
JapanKorea
TaiwanThailand
Share (%)11.611.510.19.07.86.66.05.24.23.5
Source:IESingapore,December2009
Source:Eurostat
Evolution of the EU’s trade with Singapore (€ billion)
ExportsImportsBalance
2004 2005 2006 2007 2008 2009
25
20
15
10
5
0
-5
16 | EU-SINGAPORE TRADE & INVESTMENT 2010
In2009,Singaporewasthe14thlargestexportrecipient,andthedestinationof1.9%oftheEU’stotalexports.ThismakesittheEU’s largest export market in South-East Asia.In2009,theEUexported€20.4billionworthofgoodstoSingapore.
EU exports to Singapore are concentrated in certain key product groups. Thethreemostimportantonesaremachineryandtransportequipment(accountingfor56.6%),chemicals(11.8%)andmiscellaneousmanufacturedarticles(8.6%).
TheEUimported€14.59billionworthofgoodsfromSingapore,makingitSingapore’sfourthbiggestclient.SingaporeistheEU’s17thlargestsupplierofgoods.
Singaporesupplies1.2%oftheEU’stotalimports,withacomparativelystrongroleincertainsectors.Forinstanceinchemicals,Singaporesupplies4%oftheEU’simports,andinmachineryandtransportequipmentitsshareis2%.ThesetwoproductgroupsaccountforthemajorityoftheEU’soverallimportsfromSingapore,withchemicalsaccountingfor28.2%andmachineryandtransportequipmentfor46%ofthetotal.
SingaporeisanimportantexportmarketfortheEU
TheEUisanimportantexportdestinationforSingapore
EU-SINGAPORE TRADE & INVESTMENT 2010 | 17
Trade in goods between the EU and Singaporein 2009: main product categories
European Union imports from Singapore(products by order of importance)
TOTALMachineryandtransportequipmentChemicalsandrelatedproductsMiscellaneousmanufacturedarticles
European Union exports to Singapore(products by order of importance)
TOTALMachineryandtransportequipmentChemicalsandrelatedproductsMiscellaneousmanufacturedarticles
%100.0046.028.26.4
%100.0056.611.88.6
€million14,5906,7154,108928
€million20,43511,5572,4061,766
EU Member States’ merchandise trade shareswith Singapore in 2009
Source:SingaporeDepartmentofStatistics
Germany20%
Belgium6%
France20%
Netherlands14%
Italy5%
UK16%
Other EU19%
18 | EU-SINGAPORE TRADE & INVESTMENT 2010
Trade in services between the EU and Singapore is growing at a steady rate. It amounts to more than half of the value of EU–Singapore trade in goods.In2008,EUcountriesgeneratedasurplusof€3.3billionfromoverallservicestradeof€20.6billionwithSingapore.
ThisnumbermakesSingapore the EU’s sixth largest trading partner in services.Themajorcategoriesofservices imported toSingaporeareroyaltiesandtransportationwiththelatter also being Singapore’s mostexportedservice.
Major services categories
TransportationInsuranceConstructionFinancialComputerandinformationRoyaltiesSocialTraderelatedBusinessmanagementCommunicationsandotherservices
Singapore-EU trade in services by major servicescategories in 2008 (S$ million)
Source:SingaporeDepartmentofStatistics
Import (From EU
to Singapore)6,842.6
391.5115.9507.4339.3
6,969.1132.41,207.72,272.5
2,584.9
Export (FromSingapore
to EU)9,235.2
115.157.0
2,248.1214.070.928.4
2,025.53,270.0
1,806.1
2.TradeinServices
SingaporeistheEU’ssixthlargesttradingpartnerinservices
TradeinservicesbetweentheEUandSingaporeisgrowingatasteadyrate
EU-SINGAPORE TRADE & INVESTMENT 2010 | 19
Thefiguresfrom2008showthattheEUisthemostsignificantsourceofFDIinSingapore.TheEU FDI stock amounted to S$142 billion (30% of total), with the USA at S$52 billion (11% of total) and Japan at S$49 billion (10.5% of total).ThemostimportantsectorsforEUFDIinSingaporearemanufacturing,andfinancialandinsuranceservices.Over 8,000 EU companies are present in Singapore.
TheEUFDIstockinSingaporehasexperiencedverystronggrowthinthepastdecade,increasingfrom S$45 billion to S$142 billionduringtheperiod 1999-2008.In2008,whichisthelatestyearforwhichcomparablefiguresareavailable,Singapore hosted more than 60% of EU FDI in ASEAN.DespitetheintensifyingcompetitionforFDIamongAsiancountries,SingaporewasthelargestAsiandestinationforEUFDIoutflows,aheadofJapan,MainlandChinaandHongKong.
Attheendof2008,thetotalstockofSingapore’sFDIintheEUstoodatS$34billion,whichaccountsfor 11.4% of Singapore’s total FDI stock abroad. Singapore is among the biggest external investors in the EU.Singaporeaccountsformorethan95%oftheFDIfromASEANtotheEU;andoutofallAsianFDIstocktotheEUitrankssecondwithashareof16%,onlyafterJapan.
ThelargemajorityofSingapore’sFDIwithintheEUisinthefinancialandinsuranceservicesandthemanufacturingsectors,followedbyinformationandcommunicationsandwholesaleandretailtrade,hotelandrestaurantservices.
Duringtheperiod1995-2008theFDIstockincreasedmorethansix-fold,fromS$5.2billiontoS$34billion.
StronggrowthofSingapore’sFDIstockintheEU
TheEUisthebiggestsourceofFDIinSingapore
Morethan8,000EUcompaniesarepresentinSingapore
VerystronggrowthofEUFDIstockinSingapore
3.ForeignDirectInvestment
SingaporeisamongthebiggestexternalinvestorsintheEU
SingaporeisthelargestAsiandestinationforEUFDIoutflows
20 | EU-SINGAPORE TRADE & INVESTMENT 2010
FDI to and from Singapore(stocks at year end, S$ billion)
Source:SingaporeDepartmentofStatistics
160
140
120
100
80
60
40
20
01999 2000 2001 2002 2003 2004 2005 2006 2007 2008
SingaporetoEUEUtoSingaporeUSAtoSingaporeSingaporetoUSA
FDI from the EU to ASEAN countries(annual outward stocks, € million)
Source:EuropeanCommission/DGTrade
80000
70000
60000
50000
40000
30000
20000
10000
02002 2003 2004 2005 2006 2007 2008
SingaporeThailandMalaysiaIndonesiaPhilippines
EU-SINGAPORE TRADE & INVESTMENT 2010 | 21
Share of Foreign Direct Investment in Singaporeby country/region of origin (2008)
Source:SingaporeDepartmentofStatistics
Rest of the world, 45% Japan, 10%ASEAN, 4%
EU, 30%
USA, 11%
22 | EU-SINGAPORE TRADE & INVESTMENT 2010
Trade & InvestmentRelations withASEAN
EU-SINGAPORE TRADE & INVESTMENT 2010 | 23
TheEUisASEAN’slargesttradingpartner
Asawhole,ASEANistheEU’sfifthtradingpartner
Singaporerepresentsaboutone-thirdofEU’stradeingoodswithASEAN,and60%ofEU’sinvestmentsinASEAN
The EU is ASEAN’s first overall trading partner. Infact,theEUaccountsfor11.3%ofASEAN’stotalexternaltradeingoods,purchasing12.1%ofASEAN’sexportsandproviding10.4%ofitsimports.In2008,totaltradebetweenASEANandtheEUamountedto€143billion.
Considering ASEAN as a single trading entity would give it a 5.1% share of the EU’s total external trade and put it in fifth place, ahead of Norway (4.6%), Japan (4%) and Turkey (3.5%).
ASEAN’stradewiththeEUhasbeengrowingsteadily.TheEUhadatradedeficit(€17.7billion)withASEANin2009.Onacountrylevel,theEUhasatradedeficitwithmostASEANcountries,exceptwithBruneiandSingapore.
Singaporerepresentsaboutone-thirdofEU’stradewithASEANand60%ofEU’sinvestmentsinASEAN.
In2009,EUexportstoASEANwereconcentratedinafewkeysectors.Headingthelistofthemostimportantproductgroupsaremachineryandtransportequipment(53.7%)chemicals(13.3%)andmanufacturedgoods(10.7%).TheEU’simportsfromASEANareconcentratedinmachineryandtransportequipment(40.9%)andmiscellaneousmanufacturedgoods(21%).
24 | EU-SINGAPORE TRADE & INVESTMENT 2010
EU’s top trading partners in 2009
Rank12345:12222330364799138141145
CountryUSA
ChinaRussia
SwitzerlandNorway
SingaporeMalaysiaThailandIndonesiaVietnam
PhilippinesCambodiaMyanmar
LaosBruneiASEAN
Volume of goods traded (€ billion)
364.4296.3181
162.3106.3
3524.421.916.911.56.80.90.30.20.2118
Share (%)15.912.97.97.14.6
1.51.11.00.70.50.30.00.00.00.05.1
EU’s trade in goods with ASEAN countries (€ million)
Source:EuropeanCommission/DGTrade
45000
40000
35000
30000
25000
20000
15000
10000
5000
02005 2006 2007 2008 2009
SingaporeMalaysiaThailandIndonesiaPhilippinaesVietnamCambodiaMyanmarBruneiLaos
EU-SINGAPORE TRADE & INVESTMENT 2010 | 25
Between2006and2008,theEU’sFDIoutflowstoASEANtotalledmorethan€37.1billion.In2008,theEUaccountedfor22%oftotalFDIinflowstoASEAN,aheadoftheASEANcountriesthemselves,JapanandtheUSA.
In2008,theEUFDIstockinASEANstoodat€117.7billion.ThestockinASEANhasseenverystronggrowthinrecentyears.ThelargestpartofEUFDIstockisconcentratedinSingapore,followedbyMalaysia,Indonesia,ThailandandthePhilippines.SeenfromtheEUside,FDIoutflowstoASEANin2008constituted38%oftheEU’stotalflowstoAsia(excludingtheNearandMiddleEast)andincreasedfrom€4.8to€17.7billionbetween2005and2008.Around86%ofthisFDIwenttoSingapore.
WhileinvestingincreasinglymoreinASEAN,theEU’sinwardFDIstocksfromtheregionmorethandoubledinjustfouryears,from€22.2billionin2004to€54.5billionin2008.
TheEUisthebiggestsourceofFDIinASEAN
TheEUishostingincreasinglymoreinvestmentsfromASEAN
26 | EU-SINGAPORE TRADE & INVESTMENT 2010
•ASEANSecretariat
•EconomicDevelopmentBoard,Singapore
•EuropeanCommission/DGTrade
•IESingapore
•SingaporeDepartmentofStatistics
•UNCTADWorldInvestmentReport
•WorldEconomicForum
•WorldTradeOrganization
Unlessotherwisestated,allgraphsandtablesarebasedonstatisticsfromEurostat.
List of data resources:
EU-SINGAPORE TRADE & INVESTMENT 2010 | 27
DElEGAtIONS Of thE EUROPEAN UNIONIN ASEAN
Delegation of the European Union to Indonesia and Brunei DarussalamIntilandTower,16thFloorJ1.JendSudirman32,Jakarta10220Indonesia
PostalAddress:P.O.Box6454JKPDS,Jakarta10220Indonesia
Tel: (+62)2125546200Fax: (+62)2125546201
Contact Information
Delegation of the European Union to the Kingdom of CambodiaNo.1,Street21SangkatTonléBassac,KhanChamcarmonPhnomPenhP.O.Box2301Cambodiawww.delkhm.ec.europa.eudelegation-cambodia@ec.europa.eu
Tel: (+855)23216996|211102|220611 |220612
Fax: (+855)23216997
Brunei Darussalam
Cambodia
28 | EU-SINGAPORE TRADE & INVESTMENT 2010
Delegation of the European Union toLao PDRSihomCommerceCenterBuilding,SouphanouvongAvenueVientianeLaoPDR
PostalAddress:P.O.Box9325Vientiane
Tel: (+856)21241134Fax: (+856)21241125|241137
Delegation of the European Union to MalaysiaMenaraTan&Tan,Suite10.01207JalanTunRazak,50400KualaLumpurMalaysia
Tel: (+60)327237373Fax: (+60)327237337
Delegation of the European Union to Thailand, Laos and Burma/MyanmarKianGwanHouseII,19thfloor140/1WirelessRoad,Bangkok10330Thailand
Tel: (+66)23052600Fax: (+66)22559113
Malaysia
Myanmar
Laos
EU-SINGAPORE TRADE & INVESTMENT 2010 | 29
Delegation of the European Union to the Philippines30/FTowerII,RCBCPlaza6819AyalaAve.,MakatiCity1200Philippines
Tel: (+63)28595100Fax: (+63)28595109
Delegation of the European Union to Singapore250NorthBridgeRoad#38-03RafflesCityTowerSingapore179101Singapore
Tel: (+65)63367919Fax: (+65)63363394
Delegation of the European Union to ThailandKianGwanHouseII,19thfloor140/1WirelessRoad,Bangkok,10330Thailand
Tel: (+66)23052600|2700Fax: (+66)22559113
Delegation of the European Union to Vietnam17th-18thfloorPacificPlaceOfficeBuilding83BLyThuongKiet,HanoiVietnam
Tel: (+84)439410099Fax: (+84)439461701
Philippines
Singapore
Thailand
Vietnam
30 | EU-SINGAPORE TRADE & INVESTMENT 2010
EUROPEAN ChAmbERS Of COmmERCEIN ASEANContact Information
The European Chamber of Commerce in Indonesia Wisma46,KotaBNI,25thFloorJl.Jend.SudirmanKav.1Jakarta10220Indonesia
Tel: (+62)215722056Fax: (+62)215722057
EU-Malaysia Chamber of Commerce and Industry Suite3.03,Level3,MenaraAtlan(Naluri)161BJalanAmpang,50450KualaLumpurMalaysia
Tel: (+60)321626298Fax: (+60)321626198
European Chamber of Commerce of the Philippines
Manila Office 19/FAxaLifeCenterSen.GilPuyatAvenuecornerTindaloStreetMakatiCity,MetroManila,1200,Philippines
Tel: (+63)28451324Fax: (+63)28451395
Cebu Office3/FC.L.Center,14J.OsmenaSt.corLlorenteSt.,CebuCity,6000,Philippines
Tel: (+63)322543767Fax: (+63)322533387
EU-SINGAPORE TRADE & INVESTMENT 2010 | 31
European Chamber of Commerce in Singapore 350OrchardRoad#19-06ShawHouseSingapore238868Singapore
Tel: (+65)68366681Fax: (+65)67373660
European Chamber of Commerce in Vietnam
Hanoi Office G/FSofitelPlazaHanoi1ThanhNienRoadBaDinhDistrictHanoi,Vietnam
Tel: (+84)37152228Fax: (+84)37152218
Ho Chi Minh City Office 5thFloor,Eurocentre49MacDinhChiStreetDaKaoWard,District1,HoChiMinhCity,Vietnam
Tel: (+84)838272715Fax: (+84)838272743
32 | EU-SINGAPORE TRADE & INVESTMENT 2010
About the EU Delegation to Singapore
TheDelegationoftheEuropeanUniontoSingaporewasestablishedin2003anditwasofficiallyopenedinJune2004bytheformerEUCommissioner,Mr.ChrisPatten.
AsadiplomaticmissionoftheEuropeanUnionrepresentingtheExternalActionService,theDelegationworkstoenhancethevisibilityoftheEuropeanUnionandpromotesclosertieswithSingaporebyprovidinganefficientandreliablecommunicationchannelbetweentheEuropeanUnionandtheSingaporegovernment.
Italsoaimstopromotepeopletopeopleinteractionsbypromotingintellectual,culturalandeducationalexchangesthroughthevariouseventsandprogrammesadministeredandcarriedoutbytheDelegation.
ThespecifictasksoftheDelegationtoSingaporeareto:
•representtheEuropeanUnionintheexecutionofitscompetencies;
•enhancebilateralpolitical,economicandcommercialrelations;
•monitorperceptionofEuropeanUnionpolicies;
•promoteanddefendthevaluesandinterestsoftheEuropeanUnion;and
•pursueaninformationandcommunicationpolicyinlinewiththeEuropeanUnion’soverallstrategyinSouth-EastAsia.
TheEuropeanUnionhasanoverseasnetworkofover130delegationsandrepresentationsaroundtheworld.
Visitors from Europe are the second source of tourism in Singapore, after ASEAN, and ahead of China, the USA and OceaniaWithin the EU, the United Kingdom is the first source of visitors, followed by Germany, France and the Scandinavian countries. Over the past few years there has been an increase in the total number of visitors from Europe, making Singapore an important tourist destination.
The EU allows its citizens to travel, live and work in any EU country, in most cases without border controls or paperworkThe EU is constantly working to get rid of unnecessary borders and barriers to enable the free movement of people, goods and capital. Visitors also benefit from the Schengen visa arrangements, which now extend to 25 countries in Europe. If you get a visa for any Schengen country, it automatically allows you to travel to all countries within the group.
The EU is a leader in combating climate changePeople in Europe are very environmentally conscious. So the EU is spearheading world efforts to preserve the environment and promote sustainable development. In recent years it has been important to get as many countries in the world to take action to avoid climate change.
The EU is the biggest donor of development aid in the worldThe EU gives 56% of the world’s total development aid; this amounts to about €48 billion a year or €100 per European citizen. The EU also works for trade rules that are fair for poor countries. Furthermore, the EU gives the 49 poorest countries in the world complete duty and tariff free access for goods, except arms and ammunition, under the ‘Everything But Arms’ initiative.
The EU has ensured that there has been no war between its members for over 60 yearsThe EU rose from the ashes of World War II. It was set up to end the old hostilities that led to wars and to create prosperity through cooperation amongst all Europeans. The EU is now a family of 27 democratic European countries that share their efforts, ideas and resources to achieve peace and prosperity in Europe.
European UnionDelegation of the European Unionto Singapore250 North Bridge Road#38-03 Raffles City TowerSingapore 179101 Tel: +65 6336 7919Fax: +65 6336 3394Email: [email protected] www.europe.org.sg
Printed on 1 July 2010