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Singapore-Australia Free Trade Agreement - Summary of key outcomes for Australia

Summary of key outcomes for Australia

  • Elimination of all tariffs from entry into force, including on Australian beer and stout
  • Comprehensive and transparent 'negative listing' of services commitments
  • Restrictions on the number of wholesale banking licenses to be eased over time
  • More certain, and enhanced operating environment for financial services suppliers
  • Conditions eased on establishment of joint ventures involving Australian law firms
  • Number of Australian law degrees recognised in Singapore doubled from 4 to8
  • Removal/easing of residency requirements for Australian professionals
  • Mutual recognition agreements (MRAs) between architects and engineers under way
  • National treatment and market access commitments for Australian education providers
  • Singapore government overseas scholarships will be tenable at Australian universities
  • The environmental services sector will be largely open to Australian businesses
  • Open market access and national treatment for a range of other service sectors
  • Transparency of investment restrictions in Singapore's government-linked companies
  • Investors protected against expropriation; compensation for expropriation or other loss
  • Telecoms regulators must operate in transparent manner and properly explain decisions
  • Telecoms service suppliers have right of appeal to an independent authority
  • Telecom interconnection provided on non-discriminatory, timely, cost-oriented terms
  • Telecoms regulators to adopt or maintain effective sanctions to enforce decisions
  • Agreement to facilitate consultation with telecoms industry participants
  • Australia firms get national treatment in procurement by 47 Singapore agencies
  • Protection of intellectual property supplied in government tender processes
  • Short term entry for Australian business people extended from 1 month to 3 months
  • Long-term business residents in Singapore granted total stay up to at least 14 years
  • Spouses of business people can work as managers, specialists, office administrators
  • Commitment to address anti-competitive business practices
  • Consultation upon request on anti-competitive practices of particular concern
  • Competitive neutrality disciplines to apply to government-owned businesses
  • Cooperation on eliminating trade in goods infringing intellectual property rights
  • Measures to prevent the export of goods infringing copyright or trade marks
  • No customs duties on bilateral electronic transmissions
  • Agreement to facilitate paperless trading in order to reduce business transaction costs
  • Promotion of confidence in bilateral e-commerce, e.g in electronic signatures
  • Cooperation on investigation and prevention of infringements of customs law

Last Updated: 13 January 2011
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