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Korea - Singapore Free Trade Agreement

Area of Cooperation

Goods, Services, Government Procurement, Investment, Intellectual Property, Dispute Settlement, Trade Facilitation, Labor and Environmental Standards, Capacity Building

Sign Date

January 1, 2005

In Force Date

December 31, 1969

Summary

The “Korea - Singapore Free Trade Agreement“ will allow all Korean exports to enter tariff-free to Singapore. The Korean market will also be opened to various Singapore services. Singapore will support Korea’s expansion into ASEAN while Korea will provide a bridge for Singapore to enter Northeast Asia.
http://docsonline.wto.org/DDFDocuments/t/WT/REG/210-1.doc

Rules of Origin

                                                               i.      Waive the requirement for a certificate of origin for low-value originating goods

                                                             ii.      An advance ruling on the eligibility of originating goods for preferential tariffs and tariff classification.

 
Scope

                                                               i.      bilateral

 
Contingency

                                                              

                                                               i.      Anti - Dumping: Although the KSFTA allows for the continued use of anti-dumping measures under the Trade Remedies Chapter, the provisions have been tightened to limit the amount of AD duties that may be imposed.

                                                             ii.         Countervailing Duties : Within WTO

 
News/Studies

                                                               i.      S.Korea, Singapore sign FTA”                          

                                    http://www.bilaterals.org/article.php3?id_article=2408

                                                             ii.      “Trade and Visitors Up Since Singapore-Korea FTA”                        http://english.chosun.com/w21data/html/news/200703/200703020007.html

                                                            iii.      Singapore, South Korea FTA takes effect Thursday”         http://www.channelnewsasia.com/stories/singaporebusinessnews/view/195637/1/.html

                                                           iv.      Singapore, Korean Firms discuss mutual cooperation in FTA conference”                                                         http://www.channelnewsasia.com/stories/singaporebusinessnews/view/181599/1/.html

 
Additional Links

                                                               i.      http://www.worldtradelaw.net/fta/agreements/korsingfta.pdf

                                                             ii.      http://www.iesingapore.gov.sg/wps/portal/!ut/p/kcxml/04_Sj9SPykssy0xPLMnMz0vM0Y_QjzKLN4g3Cw0CSYGY5oFm-pFoYo4YImah3phiIWEIMV-P_NxU_SB9b_0A_YLc0NDQiHJHAHXqcIA!/delta/base64xml/L3dJdyEvd0ZNQUFzQUMvNElVRS82XzBfNlVT