Singapore’s Bilateral Agreements with Malaysia
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ASEAN – Australia – New Zealand Free Trade Area (AANZFTA)
The AANZFTA eliminates tariffs for 90% of the goods traded between ASEAN, Australia and New Zealand and covers 100% of Singapore’s trade volume with Australia and New Zealand.
It is also ASEAN’s most comprehensive ASEAN-Plus FTA to date, encompassing areas such as intellectual property, competition, and electronic commerce.
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ASEAN – China Free Trade Area (ACFTA)
The ACFTA eliminates tariffs for 94.6% of exports to China that originate from Singapore, safeguards market access and ensures a more predictable operating environment for service suppliers.
It expands market access and improves foreign equity threshold in six of China’s services sectors. The agreement also provides investors and investments with protection by establishing a more transparent, facilitative and secure environment for investors.
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ASEAN Free Trade Area (AFTA)
The AFTA covers trade in goods, investment, and services.
Malaysia is a member of the Association of Southeast Asian Nations (ASEAN). The AFTA is part of the Asian Economic Community agreement among the 10 ASEAN countries, including Singapore, and includes the ASEAN Trade in Goods Agreement, which eliminates tariffs for almost all goods and services. -
ASEAN – Hong Kong, China Free Trade Area (AHKFTA)
The AHKFTA reduces technical barriers to trade between ASEAN and Hong Kong.
It increases market access in the architectural, engineering, education and environmental services industries.
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ASEAN – India Free Trade Area (AIFTA)
The AIFTA eliminates tariffs for 75% of goods traded between ASEAN and India.
As a member state of ASEAN, Singapore is part of the ASEAN Free Trade Area. For a further 10% of product lines, the AIFTA commits parties to reduce tariffs below 5%.
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ASEAN – Korea Free Trade Area (AKFTA)
The AKFTA eliminates tariffs for 80% of the goods traded between ASEAN and Korea.
It safeguards market access and ensures a more predictable operating environment for service suppliers by creating a more transparent, facilitative, and secure environment for investors.
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Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP)
The CPTPP eliminates tariffs for 94% of Singapore’s exports to CPTPP markets.
Key benefits of the CPTPP include tariff elimination, trade facilitative Rules of Origin, greater access to services sectors, investment protection and guarantees, more opportunities in government procurement and a facilitative framework for the digital economy.
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Malaysia-Singapore Third Country Business Development Fund (MSBDF)
MSBDF supports Singapore and Malaysian companies to collaborate and jointly pursue business and investment opportunities.
Jointly administered by Enterprise Singapore and Malaysian Investment Development Authority, MSBDF provides grant support for joint business missions and joint feasibility studies in third countries, as well as joint pilots in Singapore, Malaysia or third countries.
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Regional Comprehensive Economic Partnership (RCEP)
The RCEP Agreement builds on existing bilateral agreements that ASEAN has with its free trade partners.
It is the world’s largest FTA, comprising about 30% of global GDP and about a third of the world’s population.
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Singapore–Malaysia Double Tax Avoidance Agreement (DTA)
DTAs provide relief from double taxation in the situation where income is subject to tax for both countries.The provisions of the DTA apply to persons who are residents of one or both of the Contracting States. Please refer to IRAS for more information.
