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The European Parliament has approved a landmark free trade deal with Singapore which will gradually eliminate tariffs on goods and services over the next five years.
Several votes with a large majority approved the European Union -Singapore Free Trade Agreement (EUSFTA) which now requires each member state to give their final approval before it comes into force.
The deal will also offer new opportunities for businesses on both sides to expand in each other's regions and will allow EU firms to compete for public procurement contracts in Singapore.
If Britain crashes out of the European Union without a withdrawal agreement in place on 29 March, the UK will not have access to the new free trade agreement with Singapore.
British MEP David Martin, the rapporteur on the agreements, said the approval demonstrated the EU’s desire to “keep fair and free trade alive".
Theresa May visits Africa on trade trip – in picturesShow all 39 1 /39Theresa May visits Africa on trade trip – in pictures Theresa May visits Africa on trade trip – in pictures British Prime Minister Theresa May reviews a military guard of honour at the State House in Nairobi. May wraps up a three day tour of Africa in Kenya as she seeks to drum up post-Brexit deals before quitting the European Union on a continent which has increasingly looked elsewhere for trade and investment
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Theresa May visits Africa on trade trip – in pictures Prime Minister Theresa May in breaks into dance whilst meeting with scouts at the United Nations offices in Nairobi on the third day of her visit to Africa
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Theresa May visits Africa on trade trip – in pictures Prime Minister Theresa May in breaks into dance whilst meeting with scouts at the United Nations offices in Nairobi on the third day of her visit to Africa
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Theresa May visits Africa on trade trip – in pictures Prime Minister Theresa May in breaks into dance whilst meeting with scouts at the United Nations offices in Nairobi on the third day of her visit to Africa
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Theresa May visits Africa on trade trip – in pictures Prime Minister Theresa May dancing with students and staff at ID Mkize Secondary School in Cape Town
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Theresa May visits Africa on trade trip – in pictures Theresa May meets charity workers at a Salvation Army centre in Lagos, where modern slavery was discussed
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Theresa May visits Africa on trade trip – in pictures Prime Minister Theresa May arrives at the State House in Nairobi to meet with Kenyan President Uhuru Kenyatta
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Theresa May visits Africa on trade trip – in pictures Kenyan President Uhuru Kenyatta welcomes Theresa May
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Theresa May visits Africa on trade trip – in pictures Prime Minister Theresa May and Kenyan President Uhuru Kenyatta address a press conference at the state house in Nairobi
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Theresa May visits Africa on trade trip – in pictures Theresa May with the President of Kenya Uhuru Kenyatta at the State House in Nairobi
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Theresa May visits Africa on trade trip – in pictures Prime Minister Theresa May arrives at the State House in Nairobi, to meet the President of Kenya Uhuru Kenyatta, on the third day of her visit to Africa.
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Theresa May visits Africa on trade trip – in pictures Theresa May meets Nigerian President Buharia at the Presidential Villa in Abuja, Nigeria
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Theresa May visits Africa on trade trip – in pictures Prime Minister Theresa May arrives in Abuja, Nigeria, on day two of her trip to Africa
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Theresa May visits Africa on trade trip – in pictures Theresa May arrives in Abuja, Nigeria on day two of her trip to Africa
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Theresa May visits Africa on trade trip – in pictures Theresa May arrives in Abuja, Nigeria on day two of her trip to Africa
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Theresa May visits Africa on trade trip – in pictures Nigerian President Buhari and Theresa May watch as the Nigerian Budget and National Planning Minister and the British Trade Policy Minister sign a bilateral agreement on Nigerian trade development
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Theresa May visits Africa on trade trip – in pictures Theresa May meets South African president Cyril Ramaphosa at DeTuynhuys Presidential Palace in Cape Town
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Theresa May visits Africa on trade trip – in pictures Prime Minister Theresa May meets students and staff at ID Mkize Secondary School in Cape Town, which is twinned with Whitby High School in Yorkshire
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Theresa May visits Africa on trade trip – in pictures Theresa May arrives in Abuja, Nigeria
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Theresa May visits Africa on trade trip – in pictures The two schools are part of a British Council funded teacher exchange scheme called 'Connected Classrooms'
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Theresa May visits Africa on trade trip – in pictures The Prime Minister enters the cell in which Nelson Mandela was held on Robben Island Cape Town
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Theresa May visits Africa on trade trip – in pictures Prime Minister Theresa May meets South African president Cyril Ramaphosa
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Theresa May visits Africa on trade trip – in pictures Theresa May dancing with students and staff at ID Mkize Secondary School in Cape Town
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Theresa May visits Africa on trade trip – in pictures Theresa May and South African President Cyril Ramaphosa take part in the ceremony to hand over the bell of the SS Mendi
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Theresa May visits Africa on trade trip – in pictures Theresa May and South African president Cyril Ramaphosa shake hands
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Theresa May visits Africa on trade trip – in pictures Theresa May poses for a picture with school children
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Theresa May visits Africa on trade trip – in pictures Theresa May and South African President Cyril Ramaphosa take part in the ceremony to hand over the bell of the SS Mendi
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Theresa May visits Africa on trade trip – in pictures Theresa May dancing with students and staff at ID Mkize Secondary School in Cape Town
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Theresa May visits Africa on trade trip – in pictures Theresa May exits stage right following an address to business leaders at the offices of First National Bank in Cape Town
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Theresa May visits Africa on trade trip – in pictures A group of school children at the ID Mkhize Secondary School, take a selfie with a phone with a Union Jack cover
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Theresa May visits Africa on trade trip – in pictures The Prime Minister is on day one of her trip to South Africa, Nigeria and Kenya on a trade mission designed to bolster the UK's post-Brexit fortunes
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Theresa May visits Africa on trade trip – in pictures Theresa May talks with students
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Theresa May visits Africa on trade trip – in pictures Theresa May speaks to business leaders at the offices of First National Bank in Cape Town
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Theresa May visits Africa on trade trip – in pictures Theresa May meets students and staff
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Theresa May visits Africa on trade trip – in pictures Theresa May is greeted by South African President Cyril Ramaphosa
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Theresa May visits Africa on trade trip – in pictures Theresa May speaks to staff at I.D. Mkize Secondary School
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Theresa May visits Africa on trade trip – in pictures Theresa May is greeted by schoolchildren waving British and South African flags
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Theresa May visits Africa on trade trip – in pictures Theresa May speaks to students
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Theresa May visits Africa on trade trip – in pictures Prime Minister Theresa May walks with Nomvula Mokonyane - the South African Minister of Communications - as she arrives at Cape Town airport
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“The trade agreement will not only enhance the EU’s access to the Singapore market, but even more to the growing Association of Southeast Asian Nations region, while ensuring workers and the environment are well protected,” Mr Martin said.
“The investment protection agreement incorporates the EU’s reformed approach, and will replace the existing Singapore-EU member state deals that include the toxic investor-state dispute settlement.”
The EU and Singapore trade about 50 billion euros (£44bn) in goods and 40 billion euros (£35bn) in services a year.
Support free-thinking journalism and attend Independent events Singapore is the EU’s largest partner in the region, accounting for almost a third trade in goods and services and roughly two-thirds of investment between the two regions.
Over 10,000 European companies have their regional offices in Singapore.
Additional reporting from agencies
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