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16/09/ · Last published date: Singapore maintains one of the most liberal trading regimes in the world, but U.S. companies face several trade barriers. It maintains a tiered motorcycle operator licensing system based on engine displacement, which, along with a road tax based on engine size, adversely affects U.S. exports of large motorcycles. TRADE BARRIERS. Singapore maintains one of the most liberal trading regimes in the world, but U.S. companies face several trade barriers. Singapore maintains a tiered motorcycle operator licensing system based on engine displacement, which, along with a road tax based on engine size, adversely affects U.S. exports of large motorcycles. Singapore – Trade Barriers Includes the barriers (tariff and non-tariff) that U.S. companies face when exporting to this country. Last Published: 6/13/ Singapore maintains one of the most liberal trading regimes in the world, but U.S. companies face several trade barriers. exceptions, regulations in Singapore generally do not impose actual barriers to trade – in the sense that they completely inhibit a certain business. However, there are certain specific regulations that impose actual problems to companies and need to be dealt with.

Singapore maintains one of the most liberal trading regimes in the world, but U. Singapore maintains a tiered motorcycle operator licensing system based on engine displacement, which, along with a road tax based on engine size, adversely affects U. In , Singapore further discouraged motorcycle imports by introducing a tiered system of additional registration fees, which serve as a de facto additional tax on motorcycles and significantly increases their price.

Singapore also restricts the import and sale of non-medicinal chewing gum. Services barriers include sectors such as pay TV, audiovisual and media services, licensing of online news websites, legal services, banking, and cloud computing services for financial institutions. Details can be found in the USTR Report on Foreign Trade Barriers that is available online. As of April 1, , the Singapore Agri-Food and Veterinary Authority AVA restructured to form the Singapore Food Agency SFA and the Singapore Animal and Veterinary Service AVS.

SFA is under the Ministry of the Environment and Water Resources and oversees all food-related matters including food safety and security. AVS is under the National Parks Board NParks and oversees all non-food related animal, plant, and wildlife management matters. It is assumed SFA will continue to follow OIE and Codex guidelines. However, the new agency is also inheriting all AVA regulations, many of which have generated ongoing trade barrier issues mostly SPS with the United States.

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Singapore exports, imports, tariff by year. Singapore monthly trade data Singapore quarterly trade data. Trade Stats By Country By Indicator By Product HS 6-digit Visualization Data Download Metadata Data Availability Help Tariffs GPTAD UNCTAD TRAINS Non-Tariff Measures Summary By Country Visualization Data Download Metadata Data Availability About NTM GVC About GVC Visualization GVC Indicator Metadata GVC Data Download API API overview API documentation Analytical database Tools Compare Countries Simulation Tool Bulk Download Home About WITS Reference Methodology Glossary Reference Data Concordances Links Training Training overview Video Tutorials eLearning Support Links Did you know FAQ WITS manual Help eLearning.

At a Glance Summary Partner Product Group Country. Share Facebook Twitter Linkedin Google Plus Reddit Stumble Upon Delicious Email whatsapp. Singapore Trade Summary Data Singapore exports, imports, tariff by year. For at a glance i. Please note the exports, imports and tariff data are based on reported data and not gap filled.

Please check the Data Availability for coverage. TABLE TEXT. TRADE SUMMARY FOR Singapore. Overall Exports and Imports.

singapore trade barriers

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The landmark trade agreement between the European Union and Singapore, which removes nearly all Customs duties between the two jurisdictions, comes into force today. The reduction of tariff and non-tariff barriers under the EU-Singapore Free Trade Agreement FTA provides Singapore companies with greater market access to all EU member states.

It also contains rules on trade and sustainable development, including the protection of labour rights and the environment. Mr Lee added that Singapore hopes that the agreement will eventually lead to an EU-Asean FTA, enhancing region-to-region connectivity between the EU, the world’s largest single market, and Asean, which is slated to become the fourth-largest economic bloc in the world by Iswaran, Minister-in-charge of Trade Relations, said the trade pact is a strong signal of the EU and Singapore’s shared commitment to uphold open and rules-based trade.

Around 84 per cent of Singapore exports, including food products, electronics and pharmaceuticals, will be allowed to enter the European Union duty-free. Other products like textiles, selected meat and seafood produce will follow in the next three to five years. The free trade agreement provides 70 years of copyright protection.

Singapore-based producers can collect broadcasting and public performance royalties for productions exported into the EU. Local businesses have better market access to a wider range of sectors in the EU, such as telecommunications, transport and environmental services. Singapore companies can bid for more government procurement projects in the EU, such as in railway, telecommunications and landscape architecture services.

Key products originating here either produced or processed will be able to enter the EU tariff-free. Materials from Asean states will be deemed as originating from Singapore when incorporated into certain final products, enabling them to qualify for preferential tariff treatment. Singapore exporters will have lower operational costs due to the reduction of duplicative testing and certification procedures in three sectors: electronics; pharmaceuticals and medical devices; and motor vehicles and vehicle parts.

singapore trade barriers

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The focus of Free Trade Agreements FTAs is to reduce trade and investment barriers between countries or regions. They are used to reduce import costs, increase export competitiveness, improve market access and generate investment opportunities. In the case of trade in goods, FTA partner countries are expected to provide preferential treatment.

This is done by lowering or eliminating tariff or customs duties and minimising non-tariff measures. This can be over and above the commitments under the World Trade Organisation WTO agreements. Since the early s, Singapore has been strengthening its trade internationally using FTAs. In turn this has provided SMEs opportunities to expand their businesses. This will give you a better idea of which one might be right for your business.

Think of it as a quick reference guide. You can find out if your product qualifies for tariff concessions and what its rules of origin are here. Free Trade Agreements can be confusing and difficult to understand because of the legalistic phrasing they use. Over the past few years, it has become clear that companies in Singapore are not fully utilizing the benefits of free trade agreements to help them address their business challenges.

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Singapore’s tax system is quite simple. Tax rates are relatively low compared to Denmark. The corporate tax rate is a flat-rated, while the personal tax rate is on a sliding scale closely following the corporate one. For the current tax rates please follow the link on the right. There are four broad categories of dutiable goods in Singapore: intoxicating liquors, tobacco products, motor vehicles and petroleum products.

However, most other products can be imported free into Singapore, and the Goods and Services Tax GST is relatively low compared to Danish standards. For more information follow the link on the right. Singapore has a good intellectual property rights law. More importantly, they are well enforced. For general information on intellectual copy rights and trademarks please visit the links indicated on the right.

For the most updated information on regulations and requirements visit Singapore Custom’s website link can be found to the right. Singapore as a Market. Framework conditions and barriers.

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Singapore is generally a free port and an open economy. For dutiable goods, the taxable value for GST is calculated based on the CIF Cost, Insurance and Freight value plus all duties and other charges. In the case of non-dutiable goods, GST will be based on the CIF value plus any commission and other incidental charges whether or not shown on the invoice. If the goods are dutiable, the GST will be collected simultaneously with the duties.

Special provisions pertain to goods stored in licensed warehouses and free trade zones. Return to Top. Singapore maintains one of the most liberal trading regimes in the world, but U. Singapore maintains a tiered motorcycle operator licensing system based on engine displacement, which, along with a road tax based on engine size, adversely affects U. In , Singapore further discouraged motorcycle imports by introducing a tiered system of additional registration fees, which serve as a de facto additional tax on motorcycles and significantly increases their price.

Singapore also restricts the import and sale of non-medicinal chewing gum. Services barriers include sectors such as pay TV, audiovisual and media services, licensing of online news websites, legal services, banking, and cloud computing services for financial institutions. Details can be found in the USTR Report on Foreign Trade Barriers that is available online.

This has generated several ongoing trade barriers issues- mostly SPS – with the United States.

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Singapore and Canada enjoy warm and friendly relations. Canada was one of the first countries that established diplomatic ties with Singapore after our independence in In , we celebrated the 50th anniversary of diplomatic relations. Bilateral cooperation is wide-ranging and spans the areas of cybersecurity, infrastructure, education, science and technology, trade, defence, and people-to-people exchanges.

Singapore and Canada also have a close association through our membership in the Commonwealth of Nations. The Ministry of Foreign Affairs is a ministry of the Government of Singapore responsible for conducting and managing diplomatic relations between Singapore and other countries and regions. Overview Singapore and Canada enjoy warm and friendly relations.

The MCGC issued a Declaration on Maintaining Essential Global Links in April to highlight the importance of maintaining global connectivity such as transport and supply chain links. Canadian Minister of National Defence Harjit Singh Sajjan attended the Shangri-La Dialogue in Singapore in June , during which he met with Minister for Defence Dr Ng Eng Hen. A delegation from the Canadian House of Commons Standing Committee on International Trade visited Singapore in February as part of a regional visit, and met then-Senior Minister of State for Finance Indranee Rajah.

During her visit, Minister Freeland called on then-Deputy Prime Minister and Coordinating Minister for Economic and Social Policies Tharman Shanmugaratnam and had a pull-aside with Minister for Foreign Affairs Dr Vivian Balakrishnan. Minister Freeland also delivered the 32nd International Institute for Strategic Studies Fullerton Lecture. During the visit, Minister Carr met with Minister for Foreign Affairs Dr Vivian Balakrishnan and had a pull-aside with Minister for Trade and Industry Chan Chun Sing.

Canadian Prime Minister Justin Trudeau attended the 33 rd ASEAN Summit and Related Summits in November as Guest of the ASEAN Chair.

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There are four broad categories of dutiable goods in Singapore: intoxicating liquors, tobacco products, motor vehicles and petroleum products. However, most other products can be imported free into Singapore, and the Goods and Services Tax (GST) is relatively low compared to Danish standards. For more information follow the link on the right. 09/06/ · Areas of Trade Service Trade Liberalization of Service Trade Elimination of service trade barriers Lowered the effective price of business and financial services exported from Singapore to Japan by %, and for construction services the price drop is %.

Official websites use. Share sensitive information only on official, secure websites. Includes the barriers tariff and non-tariff that U. Singapore maintains one of the most liberal trading regimes in the world, but U. It maintains a tiered motorcycle operator licensing system based on engine displacement, which, along with a road tax based on engine size, adversely affects U.

In , Singapore further discouraged motorcycle imports by introducing a tiered system of additional registration fees, which serve as a de facto additional tax on motorcycles and significantly increases their price. Singapore also restricts the import and sale of non-medicinal chewing gum. Services barriers include sectors such as pay TV, audiovisual and media services, licensing of online news websites, legal services, banking, and cloud computing services for financial institutions.

Details can be found in the USTR Report on Foreign Trade Barriers that is available online. As of April 1, , the Singapore Agri-Food and Veterinary Authority AVA restructured to form the Singapore Food Agency SFA and the Singapore Animal and Veterinary Service AVS. SFA is under the Ministry of the Environment and Water Resources and oversees all food-related matters including food safety and security.

AVS is under the National Parks Board NParks and oversees all non-food related animal, plant, and wildlife management matters.

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