Singapore Switzerland Free Trade Agreement

Singapore and Britain signed a free trade agreement in the Southeast Asian city-state on Thursday. Content of agreements The essential element of each agreement is trade in goods (including tariff reductions and other trade restrictions). They regulate trade in industrial products (SH chapters 25-97), fish and processed agricultural products. Trade in unprocessed agricultural products is generally governed by separate bilateral agricultural agreements. It is part of a wider framework of trade negotiations for the UK as it tries to reiterate trade pacts that will end after the end of the EU transitional period. The objective of preferential origin is to make goods duty-free when exporting to a free trade agreement or to subject them to a reduced duty. This document is accompanied by a certificate of movement of goods or a declaration of country of origin on invoice. Compliance with non-preferential country of origin rules does not exempt goods from customs when imported into a third country – these country of origin rules only apply if the destination country requires a country of origin certificate for importation. This should not be confused with the issue of Swissness (“Made in Switzerland”), which is subject to another set of rules. Intellectual property protection provisions include patents, trademarks, copyrights and geographical indications. SME Portal: Information and Links to Foreign Trade for SMEs Every country without a trade agreement will trade with the UK in accordance with World Trade Organisation rules. The chapter on trade in services includes the liberalisation of the four types of services within the meaning of the WTO GATS in all service sectors, with the exception of aviation. The liberalisation of trade in services takes place according to the timetables of specific commitments.

Commitment schedules are revised at least every two years and the contracting parties have committed to essentially liberalizing all services trade within ten years. The agreement will involve more than $22 billion ($17 billion) in trade relations. British Secretary of State for International Trade Liz Truss and Singaporean Trade Minister Chan Chun Sing signed the agreement at a ceremony in Singapore. Free trade agreements aim to improve trade relations with key partners around the world. They aim to remove or, at the very least, minimize barriers to international markets for the Swiss economy.