Singapore Regional Trade Agreements

Singapore`s sweeping Free Trade Agreement (FTA), coupled with a transparent legal system and a trained workforce, was awarded to accelerate the country`s transformation into a first-world economy. Free trade agreements (FTAs) are treaties that facilitate trade and investment between two or more economies. Singapore has an open economy, fuelled by trade in goods and services. Over the years, he has forged an extensive network of 25 implemented agreements. The Parties agree to apply their sanitary and phytosanitary rules in a non-discriminatory manner and not to introduce new measures that have the effect of undue impeding trade. Investment protection disciplines are those usually found in bilateral investment protection agreements, including provisions on promotion and protection, national treatment and most favourable treatment, taxation, expropriation and compensation, national regulation, transfers and key personnel. The agreement also provides for the possibility of direct settlement of disputes between a party to the agreement and an investor of another party. Such disputes may be subject to compulsory arbitration, provided that both parties so agree. Reservations to this chapter are contained in annex XI. These agreements are part of the instruments for the creation of the free trade area and are subject to the disciplines applicable to trade in goods in the main agreement. They provide for concessions on both sides.

Each agreement contains specific rules of origin, usually based on the “fully acquired” origin criteria. For EFTA-Singapore trade statistics, see EFTA Trade Statistics Tool A free trade agreement (FTA) is a legally binding agreement between two or more countries aimed at eliminating or eliminating barriers to trade and facilitating cross-border trade in goods and services between the territories of the Contracting Parties. The chapter on trade in services covers the liberalization of the four types of services within the meaning of the WTO GATS in all services sectors, with the exception of air transport. The liberalisation of services is carried out according to the timetables of specific commitments. The commitment plans shall be reviewed at least every two years and the Parties have undertaken to liberalise all trade in services within ten years. All trade in industrial products and fish and other seafood products from the EFTA States will, from the entry into force of the Agreement, benefit from duty-free access to the markets concerned. . . .

This entry was posted in Uncategorized. Bookmark the permalink.