2018/0093M(NLE) | [ParlTrack]

Motion for a resolution
Recital B

B. whereas this is the first bilateral trade agreement concluded between the EU and an ASEAN member state ~~and an important stepping stone towards a region-to-region FTA~~; whereas the agreement ~~will also serve~~should not be regarded as a benchmark for the agreements the EU is currently negotiating with the other main ASEAN economies, given its lack to reflect the value based approach to trade of the EU’s “Trade for All” strategy;

Amendment 100 #

Karoline GRASWANDER-HAINZ, Maria ARENA, Agnes JONGERIUS, Ana GOMES, Dietmar KÖSTER, Joachim SCHUSTER

Motion for a resolution
Paragraph 14

14. ~~Welcomes~~Retains that the commitment to effectively implement multilateral environmental a~~greements such as the Paris Agreement on climate change and~~nd development agreements are insufficient as long as the Paris Agreement on climate change and the Sustainable Development Goals (SDGs) of the UN are not explicitly mentioned as binding obligations for both partners; welcomes the commitments to the sustainable management of forests and fisheries;

Amendment 101 #

Motion for a resolution
Paragraph 14 a (new)

14 a. Stresses that regulatory cooperation is voluntary and by no means should limit the right to regulate or open the door to any kind of regulatory chill or weakening of the level of protection of labour, the environment, consumers, the fight against money laundering and the financing of terrorism, health and food safety in order to encourage or attract trade; Stresses the importance of excluding sensitive regulations; Underlines that any cooperation should not undermine the internal legislative process in the EU, including appropriate consultations of EU stakeholders, nor affect in any way the prerogatives of the European Parliament under the EU Treaties;

Amendment 102 #

Karoline GRASWANDER-HAINZ, Agnes JONGERIUS, Maria ARENA, Ana GOMES, Dietmar KÖSTER, Joachim SCHUSTER

Motion for a resolution
Paragraph 14 a (new)

14 a. Asks the Commission to carry out an ex-post sustainability impact assessment after three years of implementation of the FTA and to immediately activate the amendment procedure in case of incompatibilities with sustainable development and the SDGs;

Amendment 103 #

Motion for a resolution
Paragraph 16

16. Stresses that the involvement of civil society in monitoring the implementation of the agreement is crucial and calls for a swift establishment of domestic advisory groups following the entry into force of the agreement and for a balanced representation of civil society therein; calls on the Commission to allocate more resources to these mechanisms and to provide support to ensure constructive participation of civil society;

Amendment 104 #

Aleksander GABELIC

Motion for a resolution
Paragraph 16

16. Stresses that the involvement of civil society and social partners in monitoring the implementation of the agreement is crucial and calls for a swift establishment of domestic advisory groups following the entry into force of the agreement and for a balanced representation of civil society therein;

Amendment 105 #

Motion for a resolution
Paragraph 17

17. Recalls that the EU-Singapore Partnership and Cooperation Agreement (PCA) envisages the possibility for the EU to suspend the FTA in case of fundamental human rights violations by Singapore; retains that this provision would need to be reflected in the Preamble of the FTA, subject to its Dispute Settlement mechanism, in order to be effectively respected;

Amendment 106 #

Motion for a resolution
Paragraph 17

17. ~~Recall~~Notes that the EU-Singapore Partnership and Cooperation Agreement (PCA) envisages the possibility for the EU to suspend the FTA in case of fundamental human rights violations by Singapore;

Amendment 107 #

Karoline GRASWANDER-HAINZ, Maria ARENA, Agnes JONGERIUS, Ana GOMES, Dietmar KÖSTER, Joachim SCHUSTER

Motion for a resolution
Paragraph 17 a (new)

17 a. Commends the transparency and openness that was maintained by the Commission during the negotiation process, particularly by providing regular updates on progress to the European Parliament’s International Trade Committee, and the Parliament’s Monitoring Group on Singapore. Believes a good balance was found during the negotiations between providing transparency at all stages, but maintaining some levels of confidentiality where necessary to achieve a positive outcome;

Amendment 108 #

Motion for a resolution
Paragraph 17 a (new)

17 a. Recalls that the European Court of Justice has stated, in its 2/15 Opinion on EU-Singapore FTA that trade and sustainable development chapters have a direct and immediate effect on trade and that a breach on sustainable development provisions authorises the other Party to terminate or suspend the liberalisation provided for on other provisions of the FTA;

Amendment 109 #

Motion for a resolution
Paragraph 18

18. Calls on the Commission to trigger the general review clause of the agreement as soon as possible in order to strengthen the enforceability of labour and environmental provisions including through a sanctions-based mechanism as a last resort; believes that only a trade and sustainable development chapter with a credible enforcement mechanism providing for sanctions or the suspension of trade preferences would make the Parties’ commitments effective;

Amendment 11 #

Godelieve QUISTHOUDT-ROWOHL

Motion for a resolution
Recital B

B. whereas this is the first bilateral trade agreement concluded between the EU and an ASEAN member state and an important stepping stone towards a final objective of a region- to-region FTA; whereas the agreement will also serve as a benchmark for the agreements the EU is currently negotiating with the other main ASEAN economies;

Amendment 110 #

Motion for a resolution
Paragraph 18

18. Calls on the Commission to trigger the general review clause of the agreement ~~as soon as possible in order to strengthen the enforceability of labour and environmental provisions including through a sanctions-based mechanism as a last resort~~in due course;

Amendment 111 #

Motion for a resolution
Paragraph 18

Amendment 112 #

Seán KELLY

Motion for a resolution
Paragraph 18

Amendment 113 #

Karoline GRASWANDER-HAINZ, Maria ARENA, Agnes JONGERIUS, Ana GOMES, Dietmar KÖSTER, Joachim SCHUSTER

Motion for a resolution
Paragraph 18

18. Calls on the Commission to ~~trigger~~make good use of the general review clause of the agreement ~~as soon as possible in order~~when it is necessary to strengthen the enforceability of labour and environmental provisions ~~including through a sanctions-based mechanism as a last resort~~;

Amendment 114 #

Motion for a resolution
Paragraph 18

18. Calls on ~~the Commission to trigger the general review clause of the agreement as soo~~both parties to start working immediately on an effective sanction mechanism in cas ~~possible~~e of sustained violations in order to strengthen the enforceability of labour and environmental provisions ~~including through a sanctions-based mechanism as a last resort~~;

Amendment 115 #

Anne-Marie MINEUR, Eleonora FORENZA, Matt CARTHY, Patrick LE HYARIC, Helmut SCHOLZ, Stelios KOULOGLOU, Emmanuel MAUREL

Motion for a resolution
Paragraph 18

Amendment 116 #

Karoline GRASWANDER-HAINZ, Maria ARENA, Agnes JONGERIUS, Ana GOMES, Dietmar KÖSTER, Joachim SCHUSTER

Motion for a resolution
Paragraph 18 a (new)

18 a. Suspends the consent procedure in respect of the draft agreement for a period of one year from the moment of adoption of this decision to substantially improve the TSD-chapter;

Amendment 12 #

Motion for a resolution
Recital C

C. whereas within the ASEAN region Singapore is by far the EU’s largest partner, accounting for slightly under one third of EU-ASEAN trade in goods and services, and roughly two thirds of investments between the two regions; whereas, according to expert NGOs such as the Tax Justice Network Singapore continues to offer a range of secrecy offerings; full tax exemption for foreign- sourced income received in Singapore by any individual not resident in Singapore; absence of capital gains, gift or estate taxes; quasi-territorial tax system that exempts from individual income tax all foreign-sourced income not remitted to Singapore; wide array of tax treaties with other countries and, partly, as a result of this, has become a major turntable for so- called "round tripping" with India;

Amendment 13 #

Motion for a resolution
Recital C

C. whereas within the ASEAN region Singapore is by far the EU’s largest partner, accounting for slightly under one third of EU-ASEAN trade in goods and services, and roughly two thirds of investments between the two regions; Notes that over 10.000 European companies have their regional offices in Singapore and operate normally in a context of legal security and certainty;

Amendment 14 #

Motion for a resolution
Recital C a (new)

C a. whereas EU-Singapore trade is worth more than €50 billion annually;

Amendment 15 #

Motion for a resolution
Recital E

E. whereas Singapore ~~is a party to~~, together with five other parties, already has ratified the Comprehensive and Progressive Trans- Pacific Partnership (CPTPP) ~~and~~which was signed as recently as March this year, and whereas it is also party to the ongoing negotiations on the Regional Comprehensive Economic Partnership (RCEP);

Amendment 16 #

Anne-Marie MINEUR, Eleonora FORENZA, Matt CARTHY, Patrick LE HYARIC, Stelios KOULOGLOU, Emmanuel MAUREL

Motion for a resolution
Recital E a (new)

E a. whereas Singapore is a high- income economy with a gross national income of USD 52600 per capita as of 2017; whereas its economic growth has been amongst the world's highest, at average of 7,7 percent since independence,

Amendment 17 #

Motion for a resolution
Recital F

~~F. whereas Singapore ranks among the easiest countries in the world to do business with and is one of the least corrupt worldwide;~~deleted

Amendment 18 #

Motion for a resolution
Recital F

F. whereas Singapore ranks among the easiest countries in the world to do business with; is one of the world's most competitive economies and is one of the least corrupt worldwide;

Amendment 19 #

Karoline GRASWANDER-HAINZ, Maria ARENA, Agnes JONGERIUS, Ana GOMES, Dietmar KÖSTER, Joachim SCHUSTER

Motion for a resolution
Recital F a (new)

F a. whereas Singapore has a "light touch" data protection regime considered weak even compared to other Asian countries data protection legislation, which is not nearly reaching the level of EU data protection standards;

Amendment 2 #

Motion for a resolution
Citation 7 b (new)

- having regard to Protocol 26 to the Treaty on the Functioning of the European Union on services of general interest;

Amendment 20 #

Motion for a resolution
Recital F a (new)

F a. whereas manufacturing, particularly in electronics and precision engineering sectors, and services sectors remain the twin pillars of Singapore's high value-added economy;

Amendment 21 #

Motion for a resolution
Recital F b (new)

F b. whereas, in its Resolution on TiSA negotiations, the Parliament has requested that an unequivocal gold standard’ clause should be included in all trade agreements to ensure that the public utilities clause applies to all modes of supply and to any services considered to be public services by European, national or regional authorities, in any sector and irrespective of the service's monopoly status;

Amendment 22 #

Motion for a resolution
Recital G a (new)

G a. Whereas financial services should not be treated as any other service as they imply the creation and distribution of risks; whereas in the financial realm regulations refer to the effective ability of national regulators to control these risky activities of cross-border actors; whereas the inclusion of financial services in free trade agreements seeks to liberalise international capital movements regardless of their origin and could therefore enhance the financialisation of our economies and increase the interconnection between major financial institutions, at the risk of significantly facilitating the spread of future crises;

Amendment 23 #

Motion for a resolution
Recital G a (new)

G a. whereas, following the 2008 financial crisis, the tendency to consider the size and expansion of the financial sector as one of the causes of the crisis emerged, as well as a debate on the risks posed to financial stability by the liberalisation of financial services;

Amendment 24 #

Anne-Marie MINEUR, Eleonora FORENZA, Matt CARTHY, Patrick LE HYARIC, Stelios KOULOGLOU

Motion for a resolution
Recital H

H. whereas more than 10 000 European companies have their regional offices in Singapore; whereas around 50 000 EU companies export to Singapore, of which 83 percent are small and medium sized enterprises (SMEs),

Amendment 25 #

Motion for a resolution
Recital H

H. whereas more than 10 000 European companies have their ~~regional~~'letterbox' offices in Singapore;

Amendment 26 #

Motion for a resolution
Recital H a (new)

H a. whereas EUSFTA is likely to have very positive effect on trade and investment flows between the EU and Singapore, whereas a 2018 study prepared for the European Parliament estimates that, over the first five years, trade volumes between the EU and Singapore would grow by 10%;

Amendment 27 #

Motion for a resolution
Recital H a (new)

H a. whereas other major economies such as Japan, USA and China already have FTAs with Singapore in place, thus putting the European Union at a competitive disadvantage;

Amendment 28 #

Motion for a resolution
Recital I

I. whereas the trade and sustainability impact assessment on the EU-ASEAN FTA of 2009 concluded that this bilateral FTA will be mutually beneficial in terms of national income, GDP and employment; whereas a trade and sustainability impact assessment particularly for EU-Singapore trade relations and for a more recent period has not been produced;

Amendment 29 #

Karoline GRASWANDER-HAINZ, Maria ARENA, Agnes JONGERIUS, Ana GOMES, Dietmar KÖSTER, Joachim SCHUSTER

Motion for a resolution
Recital I a (new)

I a. whereas the actual overall level of transparency during the negotiations between 2010 and 2013 has been insufficient and no EU textual proposals were published before April 2018; whereas the ratification by national Parliaments is not requested for the FTA, a EU-only agreement; whereas the timeframe of the ratification does not allow Parliament to scrutinize the negotiated text in any appropriate manner;

Amendment 3 #

Motion for a resolution
Citation 7 c (new)

- having regard to its recommendation following the inquiry on money laundering, tax avoidance and tax evasion P8_TA-PROV(2017)0491;

Amendment 30 #

Karoline GRASWANDER-HAINZ, Maria ARENA, Agnes JONGERIUS, Ana GOMES, Dietmar KÖSTER

Motion for a resolution
Recital I a (new)

I a. whereas the economic impact analysis of the EU-Singapore FTA, conducted by the European Commission in 2013, states that Singapore´s GDP could increase by 0.94%, or 2.7 billion and EU GDP by 550 million;

Amendment 31 #

Motion for a resolution
Paragraph 1

1. Welcomes the signing in Brussels, on 19 October 2018, of the FTA and calls for the swift ratification of the agreement;

Amendment 32 #

Karoline GRASWANDER-HAINZ, Maria ARENA, Agnes JONGERIUS, Ana GOMES, Dietmar KÖSTER, Joachim SCHUSTER

Motion for a resolution
Paragraph 1

1. ~~Welcomes~~Takes note of the signing in Brussels, on 19 October 2018, of the FTA;

Amendment 33 #

Anne-Marie MINEUR, Eleonora FORENZA, Matt CARTHY, Patrick LE HYARIC, Helmut SCHOLZ, Stelios KOULOGLOU, Emmanuel MAUREL

Motion for a resolution
Paragraph 1

1. ~~Welcomes~~Takes note of the signing in Brussels, on 19 October 2018, of the FTA;

Amendment 34 #

Motion for a resolution
Paragraph 1

1. ~~Welcomes~~Takes note of the signing in Brussels, on 19 October 2018, of the FTA;

Amendment 35 #

Motion for a resolution
Paragraph 2

2. Notes that ~~negotiations were originally concluded in 2012 and regrets the long delay in bringing forward the agreement for ratificatio~~the Council mandate for the FTA negotiations derive from the Region-to-Region mandate with ASEAN of the Council of April 2007 and that negotiations were originally concluded in 2012; observes that the FTA is an old fashioned agreement which fails to incorporate the value oriented approach to trade of the Commission’s “Trade for All” strategy of 2015 and that it falls behind standards set in more recent FTAs with Canada and Japan;

Amendment 36 #

Karoline GRASWANDER-HAINZ, Maria ARENA, Agnes JONGERIUS, Ana GOMES, Dietmar KÖSTER

Motion for a resolution
Paragraph 2

2. ~~Not~~Stresses that negotiations were originally concluded in 2012 and deeply regrets the long delay in bringing forward the agreement for ratification; calls therefore for speedy ratification process and its conclusion in the current parliamentary mandate so that the agreement enters into force as soon as possible;

Amendment 37 #

Motion for a resolution
Paragraph 2

2. Notes that negotiations were originally concluded in 2012 ~~and regrets the long delay in bringing forward the agreement for ratification~~but ratification was delayed due to the request to the Court of Justice for an opinion to determine whether the EU-Singapore FTA is an “EU-only” or “mixed” agreement;

Amendment 38 #

Motion for a resolution
Paragraph 2

2. Notes that negotiations were originally concluded in 2012 and ~~regrets the long~~that a delay in bringing forward the agreement ~~for ratification~~was caused by a necessary clarification on EU competences on trade by the Court of Justice of the EU;

Amendment 39 #

Anne-Marie MINEUR, Eleonora FORENZA, Matt CARTHY, Patrick LE HYARIC, Helmut SCHOLZ, Stelios KOULOGLOU, Emmanuel MAUREL

Motion for a resolution
Paragraph 2

2. Notes that negotiations were originally concluded in 2012 and ~~regrets the long~~takes note of the delay in bringing forward the agreement for ratification due to a request for an Opinion from the Court of Justice;

Amendment 4 #

Karoline GRASWANDER-HAINZ, Maria ARENA, Agnes JONGERIUS, Ana GOMES, Dietmar KÖSTER, Joachim SCHUSTER

Motion for a resolution
Citation 8 a (new)

- having regard to its resolution on the negotiations for the Trade in Services Agreement (TiSA) of 3 February 2016

Amendment 40 #

Motion for a resolution
Paragraph 2 a (new)

2 a. Stresses that EU trade agreements should be put in the service of sustainable development for the many and to protect consumers, workers and the environment, to create decent jobs, to fight money laundering, tax evasion and the financing of terrorism, to uphold EU standards, safeguarding public services and respecting democratic procedures whilst boosting EU export opportunities; therefore a fundamental change in the current trade paradigm is of utmost importance, putting sustainability on equal footing with economic interests;

Amendment 41 #

Motion for a resolution
Paragraph 2 a (new)

2 a. Considers the FTA with Singapore to be a hugely important step in keeping the EU at the forefront of global trade liberalisation. Amidst the current global challenges, calls on the Commission and Member States to draw from this agreement as a key example, and to actively reach out to other partners in the continued pursuit of an ambitious global trade agenda;

Amendment 42 #

Motion for a resolution
Paragraph 2 a (new)

2 a. Notes that in the current context of raising protectionism and citizens’ justified concerns about unfair globalisation, old fashioned trade agreements are no longer tenable and regrets the missed opportunity for the EU to introduce new innovative trade rules in the Singapore FTA at these challenging times;

Amendment 43 #

Anne-Marie MINEUR, Eleonora FORENZA, Matt CARTHY, Patrick LE HYARIC, Emmanuel MAUREL

Motion for a resolution
Paragraph 2 a (new)

2 a. Welcomes Singapore’s patience and continued willingness to, despite this delay, engage in finding solutions to get this agreement to signature and ratification;

Amendment 44 #

Seán KELLY

Motion for a resolution
Paragraph 2 b (new)

2 b. Welcomes the legal clarity that has been provided by the European Court of Justice opinion on the Singapore FTA, and considers this to have strengthened the European Parliament’s democratically legitimate role and provided clarity on the EU’s competences on trade policy. Nevertheless, regrets the delay to the ratification of the agreement that has been caused by this request for legal clarification.

Amendment 45 #

Motion for a resolution
Paragraph 3

Amendment 46 #

Godelieve QUISTHOUDT-ROWOHL

Motion for a resolution
Paragraph 3

3. Stresses the economic and strategic importance of this agreement, as Singapore is a hub for the entire ASEAN region and as this will avoid EU exporters being at a competitive disadvantage in respect of businesses from the other CPTPP and RCEP countries; Welcomes, that the conclusion of this agreement, as part of a global EU-free trade agenda will not only bring major benefits to consumers, but also to employers, not least due to advantages of international division of labour and higher wealth.

Amendment 47 #

Motion for a resolution
Paragraph 3

3. Stresses the economic and strategic importance of this agreement, as Singapore is a hub for the entire ASEAN region ~~and as this~~. Considers this agreement to be an important step towards, and will set the precedent for, trade and investment agreements with other ASEAN member states. Also stresses that this agreement will avoid EU exporters being at a competitive disadvantage in respect of businesses from the other CPTPP and RCEP countries;

Amendment 48 #

Motion for a resolution
Paragraph 3

3. Stresses theat the only economic and strategic importance of this agreement~~, as~~ is the fact that Singapore is a hub ~~for~~of EU- based multinationals for market access to the entire ASEAN region and re-imports into the EU as this will avoid EU ~~exporter~~companies being at a competitive disadvantage in respect of businesses from the other CPTPP and RCEP countries; underlines the scarce value of this FTA for European SMEs;

Amendment 49 #

Motion for a resolution
Paragraph 3

3. Stresses the economic and strategic importance of this agreement as it is a stepping stone for the region to region EU-ASEAN trade deal in the future, as Singapore is a hub for the entire ASEAN region and as this will avoid EU exporters being at a competitive disadvantage in respect of businesses from the other CPTPP and RCEP countries;

Amendment 5 #

Motion for a resolution
Citation 8 b (new)

- having regard to its recommendations of 13December 2017 to the Council and the Commission following the inquiry into money laundering, tax avoidance and tax evasion

Amendment 50 #

Motion for a resolution
Paragraph 4

4. Notes that Singapore had already removed most of its tariffs on EU products and that this agreement will eliminate the few remaining ones completely as of its entry into force; notes that the EU has granted regionally cumulative Rules of Origin to Singapore applicable to all ASEAN members maintaining preferential tariff relations with the EU which will strengthen the role of Singapore as a hub and port of final shipment for global supply chain products; warns that this kind of trade facilitation for globally acting companies is not answering the public request for meaningful global trade oriented at sustainable development and climate change mitigation as long as the Singapore FTA fails to include strong and enforceable rules on corporate due diligence and social responsibility;

Amendment 51 #

Motion for a resolution
Paragraph 5

5. ~~Emphasis~~Welcomes that Singapore will remove certain measures that may constitute barriers to trade such as double safety tests in cars and car parts and electronics, which will simplify the export of goods from EU businesses to Singapore;

Amendment 52 #

Anne-Marie MINEUR, Eleonora FORENZA, Matt CARTHY, Helmut SCHOLZ, Emmanuel MAUREL

Motion for a resolution
Paragraph 5 a (new)

5 a. Is concerned that further liberalisation of financial services through free trade agreements could potentially hamper global financial stability; stresses that the strengthening of financial regulations and cooperation in supervision must be pursued through the many existing international bodies and bilateral organisations explicitly charged with this mandate and not through trade agreements, whose primary goal is to increase production and exchange; Regrets the “self-cancelling” terminology included in the prudential carve out clause.

Amendment 53 #

Anne-Marie MINEUR, Eleonora FORENZA, Matt CARTHY, Patrick LE HYARIC, Helmut SCHOLZ, Emmanuel MAUREL

Motion for a resolution
Paragraph 5 a (new)

5 a. Is concerned that the Prudential Carve-Out paragraph (article 8.50) is less strong than the one used in CETA, since it does not refer to measures that can be taken to safeguard the security and integrity of an individual financial institution, and asks the Commission for an explanation thereof;

Amendment 54 #

Anne-Marie MINEUR, Eleonora FORENZA, Matt CARTHY, Patrick LE HYARIC, Helmut SCHOLZ, Emmanuel MAUREL

Motion for a resolution
Paragraph 5 b (new)

5 b. Is concerned that the phrasing “not […] more burdensome than necessary” in reference to measures that can be taken under the Prudential Carve- Out is highly contestable and poses a serious threat to governments’ right to regulate in order to safeguard the integrity and stability of a Member State’s financial system;

Amendment 55 #

Anne-Marie MINEUR, Eleonora FORENZA, Matt CARTHY, Patrick LE HYARIC, Helmut SCHOLZ, Emmanuel MAUREL

Motion for a resolution
Paragraph 5 c (new)

5 c. Is concerned that the Prudential Carve-Out paragraph is not strong enough to enable the EU and governments to refuse the supply of new financial services provided Singapore – being a big supplier of financial services and a tax haven – in order to protect the integrity and stability of the financial system;

Amendment 56 #

Anne-Marie MINEUR, Eleonora FORENZA, Matt CARTHY, Patrick LE HYARIC, Helmut SCHOLZ, Emmanuel MAUREL

Motion for a resolution
Paragraph 5 d (new)

5 d. Remarks that the phrasing “each Party shall make its best endeavours” to implement and apply financial regulation and guidelines such as the Basle Committee’s “Core Principles for Effective Banking Supervision” is of a noncommittal character,whereas the implementation of these kind of rules and guidelines should always be a prerequisite for concluding any agreement with a Party in order to safeguard the EU’s and Member States’ financial stability;

Amendment 57 #

Motion for a resolution
Paragraph 5 e (new)

5 e. Is concerned that the Specific Exceptions paragraph (8.55)explicitly refers to exceptions that can be made regarding the domain of services forming part of a public retirement plan or statutory system of social security, especially since a motivation of allowing these exceptions is lacking;

Amendment 58 #

Motion for a resolution
Paragraph 6

6. Underlines that the agreement will grant EU companies better access to the Singapore services market such as in financial, telecommunications and postal services and that such liberalisation follows a ‘positive list’ approach; underlines that Singapore is one of the most important market places for global finance; is therefore concerned by the fact that the FTA includes an extensively broad definition of financial services, covering over-the-counter markets for derivative products and transferable securities, and prohibits measures of preventing systemic risks in the financial sector, such as the possibility to cap assets of financial institutions, to separate retail and investment banks, to limit equity participations of traditional banks in less regulated institutions, to allow financial institutions only as subsidiaries, or to permit the use of derivative products only for risk mitigation purposes; regards the FTA therefore as a missed opportunity to establish new and higher standards in the financial sector in order to prevent from a repetition of the global financial crisis of 2008;

Amendment 59 #

Motion for a resolution
Paragraph 6

6. Underlines that the agreement will grant EU companies better access to the Singapore services market such as in financial, telecommunications, engineering, architectural services, maritime transport and postal services and that such liberalisation follows a ‘positive list’ approach;

Amendment 6 #

Karoline GRASWANDER-HAINZ, Maria ARENA, Agnes JONGERIUS, Ana GOMES, Dietmar KÖSTER, Joachim SCHUSTER

Motion for a resolution
Citation 8 c (new)

- having regard to the European Economic and Social Committee’s Opinion of 15 February 2018 on Trade and Sustainable Development chapters (TSD) in EU Free Trade Agreements (FTA),

Amendment 60 #

Motion for a resolution
Paragraph 6 a (new)

6 a. Recalls that trade Agreements should include a binding Tax Good Governance Clause that would reaffirm the Parties’ commitment to implementation of agreed international standards in the fight against tax evasion and avoidance, money laundering and the financing of terrorism, , on obligations for country-by-country reporting, automatic exchange of information and the establishment of public registers of beneficial ownership;

Amendment 61 #

David MARTIN

Motion for a resolution
Paragraph 6 a (new)

6 a. Recalls, in relation to the liberalisation of financial services, that the agreement includes a prudential carve-out clause which allows the Parties to adopt or maintain measures for prudential reasons and notably to protect depositors and investors, and to ensure the integrity and stability of the Parties’ financial systems.

Amendment 62 #

Motion for a resolution
Paragraph 6 a (new)

6 a. Is appalled by the fact that the FTA restricts the use of the prudential carve-out clause for financial services by a necessity test;

Amendment 63 #

Motion for a resolution
Paragraph 6 b (new)

6 b. reminds that the financial service commitments of the EU could hinder proposals for more prudent regulations in the EU , such as the Regulation on Single Parent Undertakings regarding capital requirements for foreign financial service suppliers of systemic relevance in the EU;

Amendment 64 #

Motion for a resolution
Paragraph 7

7. Welcomes Singapore’s signing on 21 June 2017 of the Multilateral Competent Authority Agreement (MCAA) for implementing the global standard for the automatic exchange of information for tax purposes and its notification to the OECD on 30 June 2017 of its intention to activate automatic exchanges under that agreement with all the EU Member States for which there was no bilateral agreement for the same purpose in place; recalls, however, that independent NGOs such as Oxfam place Singapore on a grey list of global tax havens and that the character of the FTA caters mainly to tax avoidance and profit shifting strategies of EU-based multinationals;

Amendment 65 #

Karoline GRASWANDER-HAINZ, Maria ARENA, Agnes JONGERIUS, Ana GOMES, Dietmar KÖSTER, Joachim SCHUSTER

Motion for a resolution
Paragraph 7

7. Welcomes Singapore’s signing on 21 June 2017 of the Multilateral Competent Authority Agreement (MCAA) for implementing the global standard for the automatic exchange of information for tax purposes and its notification to the OECD on 30 June 2017 of its intention to activate automatic exchanges under that agreement with all the EU Member States for which there was no bilateral agreement for the same purpose in place; is concerned that according to Oxfam, Singapore still features as a prominent tax haven used globally by multinationals to avoid paying tax in the countries where they operate.

Amendment 66 #

Anne-Marie MINEUR, Eleonora FORENZA, Matt CARTHY, Patrick LE HYARIC, Helmut SCHOLZ, Emmanuel MAUREL

Motion for a resolution
Paragraph 7 a (new)

7 a. Regrets that despite all the efforts to battle tax avoidance and tax dodging, Singapore still remains a tax heaven and that Singapore is ranked 5 in Tax justice Network's Financial Secrecy Index because of its secrecy.

Amendment 67 #

Anne-Marie MINEUR, Eleonora FORENZA, Matt CARTHY, Patrick LE HYARIC, Helmut SCHOLZ, Emmanuel MAUREL

Motion for a resolution
Paragraph 7 b (new)

7 b. Notes that intermediation by banks in the setting-up of offshore structures has significantly decreased since 2007, when it was revealed that banks were promoting evasion of the provisions of the European Savings Directive of 2005 on a large scale; notes that reputational and regulatory risks in the aftermath of the financial crisis have also added to the decline in the offshore entities intermediated by banks since 2008; acknowledges, however, that at the global level statistical data do not show a general decline in the funds channelled through tax havens, at least up to 2014, but, rather, a reorganisation of jurisdictions and instruments used; notes that in parallel to the progressive rise in withholding tax levied by Luxembourg, Austria and Belgium (until 2009), from15 % in 2005 to 20 % in 2008 and 35 % in 2011, offshore money was increasingly allocated to letterbox companies in jurisdictions such as the Bahamas, Singapore and Hong Kong; notes, however, that the intermediation business has been taken over by other professions, namely lawyers, as demonstrated in the Panama Papers.

Amendment 68 #

Aleksander GABELIC

Motion for a resolution
Paragraph 8

8. Stresses the improved access under this agreement to Singapore’s public procurement market as compared to under the Government Procurement Agreement (GPA); underlines that the agreement must not restrict the political room for manoeuvre in procurements when it comes to setting requirements on what is to be procured and demands on e.g. labour and employment conditions;

Amendment 69 #

Motion for a resolution
Paragraph 8

8. Stresses the improved access under this agreement to Singapore’s public procurement market as compared to under the Government Procurement Agreement (GPA); stresses that ecological and social criteria, including gender equality criteria, should be applied in awarding public procurement contracts;

Amendment 7 #

Motion for a resolution
Recital A

A. whereas the EU and Singapore share ~~the same~~some important fundamental values, including democracy, rule of law, respect for human rights, cultural and linguistic diversity and a strong commitment to the multilateral trading system, while diverging in the fundamental value of press and political freedoms and civil liberties;

Amendment 70 #

Motion for a resolution
Paragraph 9

9. Welcomes the fact that around 190 EU geographical indications will be protected as of the entry into force of the agreement, with the possibility of adding more at a later stage~~, in view of the fact that Singapore is the fifth largest market in Asia for EU food and drink exports~~. Recalls that in 2016, the EU exported €2.2 billion of agri-food products to Singapore, and notes that Singapore is the fifth largest market in Asia for EU food and drink exports, offering significant opportunities to EU farmers and agri-food producers. Therefore welcomes Singapore’s commitment in this agreement to keep zero duties on agri- food products, and the putting in place of a system for certifying EU meat- producing establishments seeking to export to Singapore;

Amendment 71 #

Anne-Marie MINEUR, Eleonora FORENZA, Matt CARTHY, Patrick LE HYARIC, Emmanuel MAUREL

Motion for a resolution
Paragraph 9

9. Welcomes the fact that around 190 EU geographical indications will be protected as of the entry into force of the agreement, with the possibility of adding more at a later stage, in view of the fact that Singapore is the fifth largest market in Asia for EU food and drink exports;Recalls that the FTA with Singapore does not offer direct protection for the 196 EU GIs included in the Annex to the Intellectual Property chapter and that the EU GIs will need tobe examined and pass through an opposition period, according to the registration procedure in Singapore, in order to be protected.

Amendment 72 #

Motion for a resolution
Paragraph 9

9. ~~Welcom~~Notes the fact that only around 190 EU geographical indications will be protected as of the entry into force of the agreement, with the possibility of adding more at a later stage, in view of the fact that Singapore is the fifth largest market in Asia for EU food and drink exports;

Amendment 73 #

Motion for a resolution
Paragraph 9 a (new)

9 a. Underlines that the GIs registration procedure could be applied only once the implementing legislation on GIs will be adopted and the Singaporean registry for GIs be put in place. Calls on the Singapore Authorities to set up and put into force the register before the ratification of the Agreement;

Amendment 74 #

Motion for a resolution
Paragraph 9 b (new)

9 b. Invites the Commission to continue to work intensively with the Singaporean Authorities in order to ensure that all EU GIs will be protected in line with the terms of protection laid down in the FTA without any exception or limitation (including annexes or footnotes);

Amendment 75 #

Karoline GRASWANDER-HAINZ, Maria ARENA, Agnes JONGERIUS, Ana GOMES, Dietmar KÖSTER, Joachim SCHUSTER

Motion for a resolution
Paragraph 10

10. Stresses that the agreement recognises the right of Member States at all levels to define and provide public services ~~and does not prevent governments from bringing any privatised service back in to the public sector~~only in its most rudimentary form of a horizontal reservation in the Service Schedule for Mode-III Establishments applying to public utilities defined merely as “economic activities considered as public utilities at a national or local level“ and restricted to “public monopolies or to exclusive rights granted to private operators”; underlines that this formulation does not reflect the needed changes applied in more modern FTAs in order to not prevent governments from bringing any privatised service back in to the public sector; believes that the public utility exception in its current formulation is not appropriate to protect services of general interest and services of general economic interest; is particularly concerned that the FTA includes Private- Public-Partnerships (PPPs) allowing the direct participation of Singapore-based companies;

Amendment 76 #

Motion for a resolution
Paragraph 10

10. Stresses that the agreement recognises the right of Member States at all levels to define, finance and provide public services and does not prevent governments from bringing any privatised service back in to the public sector; Regrets however that public services are not fully excluded from the scope of the agreement; Underlines the preference for a gold standard clause that unequivocally carves out public services from all trade and investment obligations;

Amendment 77 #

Karoline GRASWANDER-HAINZ, Maria ARENA, Agnes JONGERIUS, Ana GOMES, Dietmar KÖSTER, Joachim SCHUSTER

Motion for a resolution
Paragraph 10 a (new)

10 a. Retains that the cross-border data flow commitments in Chapter 8 - including for financial services - do not provide for sufficient safeguards on data privacy and are incompatible with the EU data protection regime; underlines that the notion that electronic commerce “must be fully compatible with international standards of data protection” is entirely insufficient to protect European data protection standards; retains that the electronic commerce chapter cannot enter into force until an agreement on data protection is achieved which raises Singapore standards to the level of EU standards and fully upholds the EU standards;

Amendment 78 #

Motion for a resolution
Paragraph 10 a (new)

10 a. Demands that any provisions on Mode 4 (temporary movement of natural persons) must be subject to an effective international cooperation of the legal authorities for the enforcement of social and employment legislation, collective wage agreements and minimum wages;

Amendment 79 #

Motion for a resolution
Paragraph 10 b (new)

10 b. Rejects the notion of “retail price damages” for copyright infringers contained in the Intellectual Property Chapter (Article 11.44.2) as unproportioned; recalls Parliament’s rejection of the Anti-Counterfeiting Trade Agreement (ACTA) which contained a limited principle of retail price damages;

Amendment 8 #

Daniel CASPARY

Motion for a resolution
Recital A

A. whereas the EU and Singapore share the same fundamental values, including democracy, rule of law, respect for human rights, cultural and linguistic diversity and a strong commitment to rule- based trade in the multilateral trading system;

Amendment 80 #

Motion for a resolution
Paragraph 10 c (new)

10 c. Retains that the Intellectual Property chapter unduly restricts the availability of affordable generic medicines;

Amendment 81 #

Karoline GRASWANDER-HAINZ, Maria ARENA, Agnes JONGERIUS, Ana GOMES, Dietmar KÖSTER, Joachim SCHUSTER

Motion for a resolution
Paragraph 10 d (new)

10 d. Retains that a modern Intellectual Property chapter in line with commitments deriving from the Paris Agreement would need to provide for exceptions, waivers and peace clauses with regard to the patent conditions for key climate technologies; regards in this sense the IP chapter in the FTA as a missed opportunity to set new climate friendly patent standards;

Amendment 82 #

Motion for a resolution
Paragraph 11

11. Underlines that the agreement safeguards the EU’s right to apply its own standards to all goods and services sold in the EU and upholds the EU’s precautionary principle; Stresses that nothing in the agreement should prevent the application of the precautionary principle in the European Union as set out in the Treaty on the Functioning of the European Union. Firmly underlines that all imports from Singapore into the EU must respect all standards imposed on EU products;

Amendment 83 #

Motion for a resolution
Paragraph 11

11. Underlines that the agreement safeguards the EU’s right to apply its own standards to all goods and services sold in the EU ~~and upholds~~; is, however, concerned that the EU’s precautionary principle is not explicitly mentioned as a binding element of all EU standard setting, which needs to be fully respected by all trade partners;

Amendment 84 #

Aleksander GABELIC

Motion for a resolution
Paragraph 11

11. Underlines that the agreement safeguards the EU’s right to apply its own standards to all goods and services sold in the EU and upholds the EU’s precautionary principle; underlines that such high standards, including in national laws, regulations and collective agreements, should never be seen as trade barriers;

Amendment 85 #

Anne-Marie MINEUR, Eleonora FORENZA, Matt CARTHY, Patrick LE HYARIC

Motion for a resolution
Paragraph 11

11. Underlines that the agreement safeguards the EU’s right to apply its own standards to all goods and services sold in the EU and upholds the EU’s precautionary principle; highlights the importance of safeguarding high EU standards and pushing for these standards to become the norm at a global level;

Amendment 86 #

Motion for a resolution
Paragraph 11

11. Underlines that the agreement safeguards the EU’s right to keep and to apply its own standards to all goods and services sold in the EU and upholds the EU’s precautionary principle;

Amendment 87 #

Karoline GRASWANDER-HAINZ, Maria ARENA, Agnes JONGERIUS, Ana GOMES, Dietmar KÖSTER, Joachim SCHUSTER

Motion for a resolution
Paragraph 11 a (new)

11 a. Expects that both parties commit to ensure high levels of environmental and labour protection; calls on the EU and Singapore to take all necessary actions to implement the Sustainable Development Goals;

Amendment 88 #

Motion for a resolution
Paragraph 12

12. ~~Emphasis~~Deplores that this is a ~~pro~~regressive trade agreement and that both Parties committed in the trade and sustainable development (TSD) chapter only to ensure a high level of environmental and labour protection while failing to provide for a binding commitment of Singapore to ratify and effectively implement the two core ILO Conventions not ratified by Singapore so far, namely C087 - Freedom of Association and Protection of the Right to Organise Convention and C111 - Discrimination (Employment and Occupation) Convention, as well as to re- install C105 - Abolition of Forced Labour;

Amendment 89 #

Seán KELLY

Motion for a resolution
Paragraph 12

12. ~~Emphasises that this is a progressive trade agreement and~~Highlights the importance of a value-based and responsible trade policy and the need to promote sustainable development. Therefore welcomes that both Parties committed in the trade and sustainable development (TSD) chapter to ensure a high level of environmental and labour protection, human rights principles and good governance;

Amendment 9 #

Karoline GRASWANDER-HAINZ, Maria ARENA, Agnes JONGERIUS, Ana GOMES, Dietmar KÖSTER, Joachim SCHUSTER

Motion for a resolution
Recital A

Amendment 90 #

Motion for a resolution
Paragraph 12

12. ~~Emphasises that this is a progressive trade agreement and~~Notes that both Parties committed in the trade and sustainable development (TSD) chapter to ensure a high level of environmental and labour protection; Deplores that a sanction-based mechanism to effectively enforce sustainable development related provisions has not been included in the TSD chapter;

Amendment 91 #

Motion for a resolution
Paragraph 12

12. Emphasises that this is a progressive trade agreement and that both Parties committed in the trade and sustainable development (TSD) chapter to ensure a high level of environmental and labour protection; notes that the agreement also includes a chapter on renewable energy generation;

Amendment 92 #

Daniel CASPARY

Motion for a resolution
Paragraph 12

12. Emphasises that this is a next- generation, modern and progressive trade agreement and that both Parties committed in the trade and sustainable development (TSD) chapter to ensure a high level of environmental and labour protection;

Amendment 93 #

Anne-Marie MINEUR, Eleonora FORENZA, Matt CARTHY, Patrick LE HYARIC, Helmut SCHOLZ, Emmanuel MAUREL

Motion for a resolution
Paragraph 12

12. Emphasises that ~~this is a progressive trade agreement and that~~ both Parties committed in the trade and sustainable development (TSD) chapter to ensure a high level of environmental and labour protection;

Amendment 94 #

Anne-Marie MINEUR, Eleonora FORENZA, Matt CARTHY, Patrick LE HYARIC, Helmut SCHOLZ, Emmanuel MAUREL

Motion for a resolution
Paragraph 12 a (new)

12 a. Urges both parties to introduce a sanctions based mechanism for the Trade and Sustainable Development Chapter.

Amendment 95 #