Free Trade Agreements/Partnerships
Gulf Cooperation Council-Singapore Free Trade Agreement (GSFTA)
The Gulf Cooperation Council-Singapore Free Trade Agreement (GSFTA) enhances trade and investment between Singapore and the GCC by improving market access and facilitating the flow of goods and services.
About the Gulf Cooperation Council-Singapore Free Trade Agreement (GSFTA)
The GSFTA was signed on 15 December 2008 and entered into force on 1 September 2013. Singapore was the first non-Middle Eastern country to sign an FTA with the Gulf Cooperation Council (GCC), which consists of six member states - Bahrain, Kuwait, Oman, Qatar, Saudi Arabia, and the United Arab Emirates (UAE). The agreement eliminates 99% of tariffs on Singapore’s exports to GCC markets, safeguarding market access and ensuring a more predictable operating environment for companies. This has facilitated the flow of goods and services, boosting commercial activity between Singapore and the GCC.
Key Features of the GSFTA
Streamlined customs procedures
Singapore exports to GCC countries enjoy greater predictability as importing GCC countries will provide advance confirmation whether a product qualifies for preferential tariffs.
Enhanced market access
Singapore companies enjoy preferential market access in the following services sectors: legal services, construction services, education services, management consulting services and maritime transport services.
More resources
Link to GSFTA texts (opens in new tab)