Strategically located in the heart of Asia, Singapore has leveraged its geographical location and benefitted from her Free Trade Agreements (FTAs) with 65 trading partners. In 2020, Singapore was the 14th largest exporter and 15th largest importer of goods in the world, accounting for almost 4% of the world’s total merchandise trade.
It is essential for Singapore-based businesses to find ways to leverage these FTAs and compete not just locally, but globally as well. These FTAs give businesses the opportunity to increase their competitive advantage, diversify and expand market reach, enhance efficiency, raise productivity levels and where possible, foster innovation to stay ahead of their competitors, both locally and abroad. In some ways, it also safeguards Singapore-based businesses overseas, providing them with the platform to receive the same treatment as the locals in the overseas market.
This guidebook, produced by the Singapore Business Federation (SBF), helps your business find the right FTA for your needs and learn how to fully enjoy the benefits of these agreements. If you have any questions on the use of Singapore’s Free Trade Agreements, you can reach out to the SBF at fta@sbf.org.sg
