Singapore EFTA States Free Trade Agreement (FTA)

Course summary Singapore EFTA Free Trade Agreement (FTA)

Singapore Free Trade Agreements (FTAs)

The EFTA Singapore Free Trade Agreement (FTA) entry into force in 1 January 2003. The EFTA States (Iceland, Liechtenstein, Norway and Switzerland) and Singapore establish a free-trade area in accordance with the provisions of this Agreement.

Objectives of the EFTA Singapore Free Trade Agreement (FTA):
(a) to achieve the liberalisation of trade in goods, in conformity with Article XXIV of the General Agreement on Tariffs and Trade;
(b) to promote competition in their economies, particularly as it relates to economic relations between the Parties;
(c) to achieve further liberalisation on a mutual basis of the government procurement markets of the Parties;
(d) to achieve the liberalisation of trade in services, in conformity with Article V of the General Agreement on Trade in Services (hereinafter referred to as “the GATS”);
(e) to mutually enhance investment opportunities and accord constant protection for investors and investments;
(f) to ensure adequate and effective protection of intellectual property rights, in accordance with international standards; and
(g) to contribute in this way, by the removal of barriers to trade and investment, to the harmonious development and expansion of world trade.

The Agreement consists of ten Chapters with a total of 73 Articles, twelve Annexes, and a Record of Understanding, covering the following subjects:
- Trade in Goods
- Services
- Investment
- Competition
- Government Procurement
- Intellectual Property
- Joint Committee and Dispute Settlement

According to the statistical sources available to the EFTA Secretariat, the value of EFTA - Singapore merchandise trade, imports and exports, amounted to 2.6 billion USD in 2006. The EFTA States rank high in terms of Foreign Direct Investment (FDI) in Singapore. In 2004, Switzerland was the country’s third largest European country to invest in Singapore, with Norway following in fifth place.

In 2009, total merchandise trade between the EFTA States and Singapore reached USD 4 billion.

Singapore EFTA Free Trade Agreement (FTA)
 

Spanish: Negocios en Singapur Asia

 Educational level: Continuing education / Executive education programs.