Singapore Australia Free Trade Agreement Pdf

Singapore Australia Free Trade Agreement Pdf

The Singapore-Australia Free Trade Agreement (SAFTA) was signed on 17 February 2003 and provides for the duty-free import of Singaporean products into Australia. Austrade can help Australian companies become familiar with local market conditions and help develop export opportunities through a number of merchant and Australian services. On 13 October 2016, Hon Steven Ciobo MP, Minister of Trade, Tourism and Investment, and his Singaporean counterpart Lim Hng Kiang, Minister of Trade and Investment, in Canberra, the agreement amending SAFTA forming the trade results announced on 6 May 2016 by Prime Minister Turnbull and his Singaporean counterpart, Lee, under the aegis of the Australia-Singapore Comprehensive Strategic Partnership (CSP). Singapore is one of the most prosperous countries in the world and Australia`s largest trade and investment partner in Southeast Asia. SAFTA is a mutual agreement and Australian products or manufacturers get the same duty-free entry into Singapore. SAFTA provides a wide range of Australian exporters with greater opportunities for goods and services, further strengthens trade and investment relationships, eliminates Singapore tariffs and offers Australian businesses cheaper inputs for a number of products. As Singapore is a free port, SAFTA focuses on ensuring liberal access conditions for many Australian service providers, such as exporters of legal, financial and educational services. The Singapore-Australia Free Trade Agreement (SAFTA), which entered into force in July 2003, is a comprehensive agreement that delivers results for Australia that go beyond the World Trade Organization (WTO) in trade in services, intellectual property, investment and competition policy. SAFTA also offers a more open and predictable business environment in a number of areas, including telecommunications regulation, competition policy, government procurement, technical standards, intellectual property, e-commerce, customs procedures and business travel. The transition to the new rules is subject to a transitional period of three years to give importers time to adapt their supply chains and ensure that no one is disadvantaged. Therefore, the existing rules of origin provided for in Part VIII, Section 1B, of the Customs Act 1901, will be maintained until 1 December 2020. Upon request, the Ministry will provide written advice to determine whether the goods are coming from Singapore to benefit from the free trade agreement preference. The Agreement amending the Free Trade Agreement between Singapore and Australia (Amendment Agreement) entered into force on 1 December 2017 for Australia and Singapore (FEI).

The Amending Agreement introduces new rules of origin for products originating in Singapore, as provided for in Part VIII of Division 1BA of the Customs Act 1901. Before entering the Singapore market, there are a number of factors to consider, including culture, politics, and corporate etiquette. The full text of SAFTA and the amending agreement is available on the website of the Ministry of Foreign Affairs and Trade. On this site you will find a lot of information about Singapore`s activities. Please check Singapore`s profile under ”Country Profiles”. For more information, see Integrated Freight System – Requesting Preferential Rates. A certificate of origin is the basis for a claim for preferential treatment under the amending Agreement. This document is completed by the exporter, manufacturer or importer or an authorized representative of the exporter, manufacturer or importer The amended Singapore-Australia Free Trade Agreement (Amendment Agreement) entered into force on December 1, 2017. . .