What is an FTA?
An FTA is an agreement between two or more countries, created to provide a zone of preference for the free flow of goods, services, investment, innovations and people. FTAs open doors for Singaporean ICT goods, services, talent and investments to enter overseas infocomm markets. These are effected through:
- Lowering or removing foreign equity restrictions for infocomm companies
- Raising the levels of investor protection
- Providing 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
Benefits of FTA
Overall, these free trade initiatives give local companies added advantages to compete in a level playing field with safeguards measures. Broadly, they are incentivised 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 IMDA at firstname.lastname@example.org.
Who are our existing FTA Partners?
For the latest updates on the list of existing FTA Partners, kindly visit MTI's website: http://www.iesingapore.gov.sg/Trade-From-Singapore/International-Agreements/free-trade-agreements