Singapore Free Trade Agreements Countries

Companies must implement the Harmonized System Code (SH) and the Rules of Origin (ROO) schedule to determine whether the specific product or service is eligible for free or preferential import duties. The agreement is expected to be the first free trade agreement with a member of the Association of Southeast Asian Nations and the third with an Asian country after South Korea and Japan from the EU`s point of view. Singapore is the EU`s 14th largest trading partner. There are two types of free trade agreements: bilateral (agreements between Singapore and a single trading partner) and regional agreements (signed between Singapore and a group of trading partners). In addition, trade in agricultural commodities is covered by three bilateral agreements on basic agricultural products negotiated between the state of EFTA concerned (Iceland, Norway and Switzerland/Liechtenstein) and Singapore. The chapter on trade in services includes the liberalisation of the four types of services within the meaning of the WTO GATS in all service sectors, with the exception of aviation. The liberalisation of trade in services takes place according to the timetables of specific commitments. Commitment schedules are revised at least every two years and the contracting parties have committed to essentially liberalizing all services trade within ten years. The RCEP establishes a modern, comprehensive, quality and mutually beneficial economic partnership that builds on ASEAN`s existing bilateral agreements with its five partners in the Free Trade Agreement (FTA). The RCEP, which accounts for about 30% of the world`s gross domestic product (GDP) and accounts for nearly one-third of the world`s population, is the world`s largest free trade agreement to date. As an important regional agreement, the Singapore RCEP will complement the existing network of free trade agreements, expand our economic space and stimulate trade and investment flows. For the free trade agreement to enter into force, the EU (parliament and council) and Singapore must ratify the agreement.

On 13 February 2019, the European Parliament approved both the free trade agreement and the investment protection agreement, and the free trade agreement is expected to enter into force as soon as possible. [7] [9] The provisions relating to the protection of intellectual property rights concern, among other things, patents, trademarks, copyrights and geographical indications. The EU-Singapore Free Trade Agreement (an acronym for EUSFTA) is a free trade agreement signed and ratified between the European Union and Singapore. [1] [2] Bilateral free trade and investment agreements between the European Union and Singapore. The EEA has been under negotiation since March 2010 and its text has been available to the public since June 2015. [3] Negotiations on goods and services were concluded in 2012 and on investment protection on 17 October 2014. [4] The parties agree to apply their health and plant health rules in a non-discriminatory manner and not to introduce new measures that unduly impede trade. According to this chapter, investors in both countries benefit from a « high level » of investment protection through the application of « national treatment » and a « preferred national treatment status » (MFN) for companies. Singapore`s extensive free trade agreements (FTAs), combined with a transparent legal system and a trained workforce, have been evaluated to accelerate the country`s transformation into a first world economy.

Singapore is one of the ten ASEAN members. It is the EU`s largest trading partner in ASEAN, accounting for just under a third of EU-ASEAN trade in goods and services and about two-thirds of investment between the two regions. More than 10,000 EU companies are based in Singapore and use it as a hub for the entire South Pacific. All trade in industrial products, fish and other seafood from EFTA states will have duty-free access to these markets as soon as the agreement enters into force.