The EU - Singapore Digital Trade Agreement (DTA) entered into force on February 1, setting out rules for cross-border online transactions.
The agreement includes commitments on online consumer protection, personal data and privacy, and protections against unsolicited commercial messages, the European Commission said in a statement on Monday.
For businesses, it includes measures to promote paperless trade and recognise electronic signatures, contracts and invoices, and it bans customs duties on electronic transmissions.
The deal also prohibits what it calls unjustified requirements to store data in a specific country (known as “data localisation”) and bans forced transfers of software source code.
Trade between the EU and Singapore
Negotiations for the DTA were launched on 20 July 2023 and build on the EU-Singapore Free Trade Agreement that took effect in 2019.
Total trade between the EU and Singapore reached €131 billion in 2024, including €83 billion in services and €48 billion in goods, with most services trade delivered digitally.
