Gulf Cooperation Council-Singapore Free Trade Agreement comes into force on Sept 1
The Gulf Cooperation Council-Singapore Free Trade Agreement (GSFTA) comes into effect on Sept 1.
The agreement will further enhance Singapore's growing economic relations and trade with the Gulf Cooperation Council (GCC), consisting of six countries in the Middle East - Bahrain, Kuwait, Oman, Qatar, Saudi Arabia and the United Arab Emirates (UAE), said the Ministry of Trade and Industry.
The GSFTA is a comprehensive free trade agreement covering trade in goods, trade in services, investments, rules of origin, customs procedures, government procurement, electronic commerce and economic cooperation.
Under the deal, some 95 per cent of all GCC tariff lines will qualify for tariff-free concessions.