The South Korea - Singapore Free trade agreement entry into force in 2006.
The South Korea - Singapore FTA was the first foreign trade agreement of Korea with an Asian
The objectives of the South Korea - Singapore Free trade agreement are to ...
- Liberalize and facilitate International trade in products and services and expand
Foreign direct investment (FDI)
between Singapore and South Korea;
- Establish a framework for strengthening the
International Economic Relations;
- Establish a more favorable environment for their companies and
promote conditions of fair competition in the
- Establish transparent rules to govern trade and Foreign direct investment (FDI);
- Create efficient procedures for the implementation and application of the
South Korea - Singapore Free trade agreement;
- Establish a multi-lateral and regional cooperation and economic integration of Asian economies.
The South Korea - Singapore Free trade agreement covers:
- Liberalization and Facilitation: National Treatment,
Market Access for export products , Rules
and certificate of Origin, foreign trade Remedies,
Customs Procedures, Sanitary and Phytosanitary Measures, technical barriers to
foreign trade, Cross-Border trade in services, Telecommunications, Financial
Services, e-Commerce, Temporary Entry of Business Persons, Intellectual Property Rights (IPR) ...
- Bilateral Cooperation between South Korea and Singapore: Paperless trade, trade and Foreign direct investment (FDI) Promotion
, Broadcasting, e-Commerce, Environment, Financial Services,
Maritime Transport ...
75% of exports from Singapore to South Korea benefit from an immediate
tariff elimination (cost advantage).
trade (imports and exports) South Korea - Singapore
recorded a foreign trade extra amounting to 3.47 billion USD between April 2004 to February 2006
(23 months) before the Singapore Korea Free trade agreement deal was concluded.
Singapore Korea Free trade agreement