IDA is actively involved in negotiations on Free Trade Agreements (FTAs) with Singapore's leading trade partners in the infocomm sector. Trade Agreements that Singapore has completed negotiations on so far are with:
- ASEAN Free Trade Area
- Australia
- EFTA (European Free Trade Association comprising Iceland, Norway, Liechtenstein & Switzerland)
- Hashemite Kingdom of Jordan
- India
- Japan
- Korea
- New Zealand
- Panama
- Trans-Pacific SEP (Brunei, New Zealand, Chile and Singapore)
- USA
- World Trade Organisation
- Gulf-Cooperation Council (Bahrain, Kuwait, Oman, Qatar, Saudi Arabia and United Arab Emirates)
FTAs in progress are those with:
- ASEAN & the People’s Republic of China
- ASEAN-Australia and New Zealand
- ASEAN-India
- ASEAN-Japan Comprehensive Economic Partnership
- ASEAN-Korea
- Canada
- Egypt
- Mexico
- Pakistan
- Peru
- Sri Lanka
For latest updates, visit MTI’s website.
FTAs create a zone of preference for the free flow of goods, services, investment, innovation and people. They open the door for Singaporean ICT goods, services, talent and investments to enter overseas infocomm markets. These are effected through:
- Higher levels of investor protection
- Mutual recognition of professional qualifications and technical standards
- Minimising and ensuring transparency of domestic regulations
- Streamlining government approval processes
- Setting rules on fair competition
- Providing a legally binding dispute settlement process
Overall, these free trade initiatives give local companies added safeguards and incentives to regionalise and globalise.
Singapore-based infocomm companies interested in making inroads into foreign markets or which have faced significant trade barriers in the conduct of their overseas business are welcome to provide information and feedback to IDA at info@ida.gov.sg.