The agreement between the European Union and the Asian city state aims to eliminate barriers and facilitate market integration, while protecting geographical indications, including Portuguese wines and cheese.

The decision was taken at a plenary session of the parliament in Strasbourg, France, with 425 votes in favour, 186 against and 41 abstentions.

In a statement, the parliament noted that the deal eliminates tariff and non-tariff barriers, opens up the services sector to EU companies and protects geographical indications.

In the case of Portugal, 190 will now have protection in Singapore, including wines from the Douro, Dão, Bairrada, Vinho Verde, Alentejo and Madeira, and cheese from São Jorge island.

Singapore is the EU’s fifth largest export market in Asia in the food and beverage sector – a trade that yields some €2 billion euros a year. Overall, the city state accounts for about one-third of trade in goods and services between the EU and ASEAN and close to two-thirds of the investments between these two regions.

In what is the first bilateral trade agreement concluded between the EU and a member of the Association of Southeast Asian Nations (ASEAN), it is foreseen that Singapore recognise EU safety tests for automobiles and automotive components, as well as for certain electronic equipment, and accepts EU labels and markings on clothing and textiles.

As regards public procurement, the deal extends EU companies’ access to contracts to supply goods and services to the government of Singapore - a market that is currently worth €20 million a year. Around 10,000 European companies are currently represented in the country.

In services, financial, postal and courier services, telecommunications, transport and information technology are covered, with mutual recognition of professional qualifications, notably for architects, lawyers and engineers," according to the European Parliament.

In the environmental field, Singapore has also undertaken to "implement international conventions on labour rights and the Paris agreement on climate change" and to ensure, together with the EU, the sustainable management and use of forests and fisheries.

The agreement enters into force after it has been endorsed by the European Council, on which member states are represented.