This issue puts Germany and France in conflict with the US trade agreement. “We are about to reach an agreement with the EU because they don`t want tariffs,” Trump said, adding: “I think we`re going to strike a deal with the EU without having to go down that road.” Singapore: EU and Singapore signed a free trade agreement and investment protection agreement at the ASEM summit on 18-19 October 2018. The European Parliament approved both agreements in February 2019. Germany is very pleased with these agreements, as Singapore is one of Germany`s main trading partners in the ASEAN region, despite its small size. The ratification of the free trade agreement was concluded on 8 November by Council decision and the agreement entered into force on 21 November 2019. The Investment Protection Agreement sets high and clear standards for investment protection, which preserve the state`s right to regulation, and establishes a reformed dispute resolution procedure, modelled on CETA. To learn more about these two agreements, visit the European Commission`s website. Malaysia: Discussions on the establishment of a free trade agreement between the EU and Malaysia began in October 2010. Negotiations have stalled since the end of round 7 in 2012. The European Commission is working to resume these discussions. Trump said there had been talk of an EU trade deal and that he hoped there would be no need to impose tariffs on German car exports. He added that the EU was “tough” on trade and that the US had lost a lot of money. Since then, discussions have progressed slowly due to differences of opinion on the inclusion of agricultural products in the agreement.
According to the OECD, economic growth in Germany will remain strong. According to the OECD`s June 2017 forecast, strong demand for German products from Asia and the United States is currently boosting the country`s growth, but is expected to slow as the euro depreciates and import growth in China slows. Domestic demand is expected to be the main source of growth in Germany, with strong household demand and higher public spending. According to OECD forecasts, some international commercial enterprises are considering transferring investment from the UK to Germany, which could make it a more attractive commercial market4. A free trade agreement between the EU and India can help remove existing barriers and give new impetus to our bilateral cooperation. India`s population is the second largest in the world, making it a very important trading partner for German companies. However, the federal government and the European Commission insist that any agreement must be comprehensive and ambitious. While negotiations for a free trade agreement began as early as 2007, sharp differences in the expectations of both sides have brought the talks to a standstill since 2012.