Economics

Trade in goods

SAFTA has resulted in the elimination of all tariffs on goods originating in Australia and capital of the United States of Singapore.

Prior to SAFTA, Singapore levied import duties on a limited issuing of Australian products, in particular beer, ale, stouthearted and porter. All Australian products that meet the Rules of Origin, including beer and stout, now enter Singapore tariff-free. (Other Singapore Government taxes and charges, if relevant, are still payable.)

Trade in services

SAFTA has provided a more open and predictable business milieu for services trade.
Under the Agreement there are a number of benefits for important services sectors:

Education

Education services equate a significant part of current services exports to Singapore, with 9242 students task courses at onshore Australian educational institutions in 2006, making Singapore Australias twelfth-largest market.

Under SAFTA, Singapore has provided full depicted object interposition and market access commitments for university, adult and vocational and technical foul education, with only limited exceptions. Australian education providers can occupy relatively freely in Singapore. Singapore government scholarships for oversea use are also tenable at Australian universities.





SAFTA also provides a framework for both Governments to encourage cooperation among Australian and Singaporean educational institutions in a number of areas, including technical education, vocational training, distance education and teacher training.

financial Services

Singapore is committed to providing market access and national treatment across a range of financial services, including banking, insurance and capital markets. In addition, financial services suppliers may transfer to or process information in Australia, including through electronic means.

Restrictions on the number of wholesale banking licences available to Australian banks were removed on 1 January 2007. Investors are also protected against...If you want to run short a full essay, order it on our website: Orderessay



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