International Agreements

Free Trade Agreements

Free Trade Agreements (FTAs) help to promote free trade and investment.  They help countries to access markets overseas through, amongst others, tariff concessions, preferential access to certain sectors and faster market entry. Many of Singapore’s FTAs include chapters on competition.  The competition chapter in FTAs help to promote efficient markets and ensure a level playing field for businesses. Currently, Singapore has over 15 FTAs (including both implemented agreements and other agreements under negotiation) that include competition chapters/provisions. CCCS represents Singapore as the Chapter Lead for negotiations of competition provisions/chapters in FTAs.  

For a full listing of Singapore Free Trade Agreements, please refer to Enterprise Singapore.

Some key agreements include:

(a) The Comprehensive and Progressive Agreement for Transpacific Partnership Agreement (CPTPP)

The CPTPP is regional trade agreement among 11 partners namely Australia, Brunei Darussalam, Canada, Chile, Japan, Malaysia, Mexico, New Zealand, Peru, Singapore and Vietnam. Collectively, these countries represent 14% of the global economy, with a combined GDP of approximately S$13 trillion. The CPTPP was concluded on 23 January 2018 in Tokyo, Japan and signed on 8 March 2018 in Santiago, Chile. Singapore ratified the CPTPP on 19 July 2018, becoming the third nation to do so after Mexico and Japan. For more information, view the text for the competition chapter.

(b)  The European Union-Singapore Free Trade Agreement (EUSFTA)

The European Union-Singapore Free Trade Agreement (EUSFTA) is the first FTA concluded between the EU and an ASEAN country. Singapore and the EU countries are important trading and investment partners. In 2014, the EU was Singapore’s 3^rd largest global trading partner. The agreement will come into force after it is signed and ratified by parties. For more information, view the text for the competition chapter.

(c)  Regional Comprehensive Economic Partnership (RCEP)

The RCEP is an FTA between 15 countries: Brunei Darussalam, Cambodia, Indonesia, Lao PDR, Malaysia, Myanmar, Philippines, Singapore, Thailand, Viet Nam, Australia, China, Japan, Republic of Korea, and New Zealand. It is the world’s largest FTA, comprising about 30 per cent of global GDP and about a third of the world’s population. Singapore chaired the work group on competition for the RCEP. For more information, view the text for the RCEP Agreement.

Digital Economy Agreements (DEAs)

CCCS also supports Singapore’s efforts to establish Digital Economy Agreements (DEAs) with overseas jurisdictions. DEAs aim to provide a set of rules and benchmarks on issues relating to the digital economy, promote digital trade and connectivity, and facilitate interoperability through aligning standards and frameworks. CCCS participates actively in the negotiations of DEAs to ensure that competition law enforcement issues are given adequate consideration in digital markets.