A life-buoy at the right time.Well done PM LHL!!!

[theblackhole]

CHINA and Singapore on Thursday signed a bilateral free trade agreement (FTA) in Beijing which will cut tariffs to zero for more than 85 per cent of Singapore exports when it comes into force in January.

The signing of the FTA, the first to be concluded by China with an Asian country, was witnessed by Chinese Premier Wen Jiabao and Singapore's Prime Minister Lee Hsien Loong, who is in China on a five-day official visit.

Key outcomes of China-Singapore FTA

All Singapore goods, except for about 260 products, will enjoy tariff-free access to China by 2010.

These make up about 95 per cent of Singapore's exports to China.

The pact, concluded after two years and eight rounds of negotiations which began in October 2006, 'is set to bring about advantages for Singapore businesses and consumers', said a statement from the Singapore's Ministry of Trade and Industry.

'This FTA also comes at a particularly important time, as it underscores Singapore's commitment to the trade liberalisation process amidst an increasingly challenging global economic environment,' said MTI.

The agreement was signed by Singapore Minister for Trade and Industry Lim Hng Kiang and Chinese Minister for Commerce Chen Deming at the Great Hall of the People in Beijing.

Building on the AseanChina FTA, the bilateral comprehensive agreement covers areas including trade in goods, rules of origin, trade remedies, trade in services, movement of natural persons, investment, customs procedures, technical barriers to trade, sanitary and phytosanitary measures and economic cooperation.

'It will enhance bilateral economic relations by further reducing and removing barriers to trade. This will create opportunities for businesses from both countries to grow their links in each other's markets,' said MTI.

The FTA will give preferential coverage for about 95 per cent of Singapore's expots to China, with a trade value of more than S$18 billion.

More than 85 per cent of Singapore exports to China will be at zero-tariff when the FTA kicks in on Jan 1, with another 10 per cent to become duty-free on Jan 1, 2010.

Under the agreement, Singapore will grant preferential tariff-free treatment for all China exports.

 

[theblackhole]

This is Good News for More Good Years! Well done China! Well done Singapore!! Friendship and Brotherhood forever!!!

 

[TeeKee]

CHINA and Singapore on Thursday signed a bilateral free trade agreement (FTA) in Beijing which will cut tariffs to zero for more than 85 per cent of Singapore exports when it comes into force in January.

But the truth is, China exports more to SGP than the other way round!!!!

SGP is not a manufacturing hub anymore!

 

[ChaoPappyPoodle]

Singapore will be testing place for China products. LHL, the man that walks like woman and has a wife that looks like man has gone and do it again.

LHL is truly a man that walks like a woman and has a wife that looks like a man.

 

[madmansg]

is cancer has a womensing side effect ?

 

[ChaoPappyPoodle]

FTA is only truly useful if both countriy make goods from natural products.

Singapore do not have natural products. Singapore only manufacture based on other countries products and if we dont do that then we are export product that R and D from other country.

This is nonsense agreement.

 

[ChaoPappyPoodle]

But the truth is, China exports more to SGP than the other way round!!!!

SGP is not a manufacturing hub anymore!

Even if Singapore have manufature like alot also no use because China export more. In FTA, if not careful, the small country always lose. FTA is many times more worse than global eonomics and thats why even mexico and Canada have problems to do FTA with USA.

But LHL, the woman that pretend to be a man that really walk like woman that has a wife that looks like man that has a good friend SMRT boss who is a woman that look like man also can sign this kind of thing.

Big fish eat small fish. IF Singapore want to sign FTA then must ask Chine to do IP agreement also. If not why sign because Singapore have many promise for future for IP like biogenetics and IT and pharmacy things also.

 

[DIVISION1]

FTA is only truly useful if both countriy make goods from natural products.

Singapore do not have natural products. Singapore only manufacture based on other countries products and if we dont do that then we are export product that R and D from other country.

This is nonsense agreement.

You have weak understanding of global trade and business. These are open trade and business practices. Please brush up.

 

[tiulehloumoh]

FTA is only truly useful if both countriy make goods from natural products.

Singapore do not have natural products. Singapore only manufacture based on other countries products and if we dont do that then we are export product that R and D from other country.

This is nonsense agreement.

yeah, lots of "ore quee kay tua yah" agreed that this is nonsense agreement.:p

 

[theblackhole]

China products and exports to Singapore is a life-line to all. If China products stop coming here, Singaporeans will eventually starve to death! So please be grateful to the Rising Dragon - kowtow,repent, seek forgiveness and atone for all our sins and wrong-doings and all our stupidities and follies. Kowtow with knees and head touching the floor and with chins reaching the floor. The Dragon King will forgive and be helpful to Singaporeans. Say thank you to China!!! Long Live China!!!

 

[chupacabra]

Don't know whether it's a good thing for the average sinkee. If sinkeetown got to import more for the chinese market, will products and produce get more expensive for sinkees in the long run?

If i was selling sinkeetown 1kg coffee for $1 and sinkeetown is reselling it at $1.10 to the chinese, undercutting me in the chinese market. Why would I give sinkeetown a discount? I might as well up my price for sinkeetown and compete in price for the chinese market.

 

[chupacabra]

With China having a bad reputation in quality control, will sinkeeland be affected as well.

 

[DIVISION1]

With China having a bad reputation in quality control, will sinkeeland be affected as well.

Singapore makes the effort to do it and there is little place you can run in Singapore except out. After that, returning to Singapore may be difficult. China is a very big place, on the other hand. So there are advantages for Singapore.