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Singapore and EU have an FTA!

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offshoreoildude
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Singapore and EU have an FTA!

Postby offshoreoildude » Fri, 21 Dec 2012 4:22 pm

http://siiaonline.org/content.aspx?page=insightsDetails&id=2960&ArticleCategoryId=7

I wonder if this FTA will allow EU citizens to avoid ABSD etc...
Now I'm called PNGMK

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Wd40
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Postby Wd40 » Fri, 21 Dec 2012 7:35 pm

I believe Singapore has FTA with several countries(18?) but the ABSD waiver is only for about 5 countries. So I dont think signing FTA with EU with automatically exempt them from ABSD

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JR8
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Postby JR8 » Fri, 21 Dec 2012 11:36 pm

Eeenteresting!

The link at the bottom of that piece...
http://europa.eu/rapid/press-release_IP-12-1380_en.htm
gives a press release from the EU/perspective.

Worth reading in full.

But in brief it concludes:
--------------------------------------------------
EU-Singapore trade

Singapore is the EU's 13th largest trading partner (trade in goods) and the EU's largest trading partner in the Association of South-East Nations (ASEAN).EU-Singapore trade in goods and services each grew by some 40% between 2009 and 2011.

The EU has a positive balance of trade in goods and in services with Singapore.

Singapore is a major destination for European investments in Asia. Singapore is also Asia's second largest investor in the EU (after Japan). In 2010, the existing stock of bilateral investment between the EU and Singapore reached €190 billion, having expanded rapidly over the past years.

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zzm9980
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Postby zzm9980 » Sat, 22 Dec 2012 5:08 pm

This article analyzes the differences between FTAs and why some countries get exempt from ABSD:

http://aseanec.blogspot.com/2011/12/in- ... t-all.html

So basically, what is the difference between this FTA and the current ESFTA of which apparently only four Euro countries are members? Is this an extension of that one to more members? Does it have the same "national treatement" clause?

[quote]Under Article 40.1 of the EFTA-Singapore FTA (ESFTA), Singapore must treat EFTA nationals as if they were Singaporeans for purposes of investment, including investments in property. This obligation is known as “national treatment.”


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