Trade AgreementsView All
Singapore - Australia Free Trade Agreement
Area of Cooperation
Goods (No provisions for coverage of agricultural goods) Services (Financial and Telecommunications) Government Procurement, Investment, Competition Policy, Intellectual Property, Dispute Settlement, Trade Facilitation, Labor Mobility, Labor and Environment
January 1, 2003
In Force Date
December 31, 1969
The Singapore – Australia Free Trade Agreement was signed in 2002 after 10 rounds of meetings and negotiations. SAFTA will be the first bilateral free trade agreement the Australia has entered into, as the last one was in 1983 with New Zealand. According to the agreement, all tariffs will be eliminated, Australian exporters will gain more market access and the market will be more open and predictable. Investors from Singapore will have more opportunities to invest in Australia. The customs procedures will be improved and Singapore will have access to the Australian workforce. The FTA will not only benefit the economies of both countries but the service industry as well.
|Rules of Origin|
i. Change in tariff classification is not an option
ii. Value added content, minimum 50% (some products as low as 30%)
iii. No specific manufacturing process necessary
i. Anti - Dumping : Within WTO rules. Detailed process to initiate measures.
ii. Countervailing Duties : Within WTO rules.
iii. Safeguards : Not allowed.
i. “S’pore- Australia FTA can be updated to ‘gold standard’: PM Lee” http://www.channelnewsasia.com/stories/singaporelocalnews/view/214187/1/.html
Free Trade Agreement- Consultations with
Costs and Benefits of a Free Trade Agreement with
ii. INSIS Facilitating Global Business http://www.insis.com/Web/main.aspx?ID=287cf9f8-064f-4654-a714-a48f5e8b0c7b,