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Upgraded Singapore-Australia FTA takes effect

Trade rules updated for goods; businesses can bid for more Aussie government contracts

Ann Williams

Published Fri, Dec 1, 2017 · 09:50 PM

Singapore

THE upgraded Singapore-Australia Free Trade Agreement (SAFTA) was ratified and came into force on Friday, heralding a new era of bilateral economic relations, the Ministry of Trade and Industry (MTI) announced.

Its key benefits include updated trade rules in goods, increased opportunities for businesses to bid for government procurement contracts, enhanced access to each other's services sectors and greater facilitation for investments. There is also improved mobility for business persons and rules to facilitate trade in the digital economy.

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