BRUSSELS, Oct. 19 (Xinhua) -- The European Union (EU) and Singapore on Friday signed a free trade agreement at a two-day Asia-Europe meeting which brings over 50 leaders from European and Asian countries.

"The signature of the EU-Singapore agreements is another strong message by like-minded partners to defend and promote an international system that is based on rules, on cooperation, and on multilateralism," said European Commission President Jean-Claude Juncker.

The EU trade agreement with Singapore will remove nearly all remaining tariffs on certain EU products, simplify customs procedures and set high standards and rules.

It still needs the consent of the European Parliament and could enter into force before the end of the current mandate of the European Commission in 2019.