EU – Singapore Free Trade Agreement
EU – Singapore Free Trade Agreement
Did you know that you could save money on your international shipments to and from Singapore? The EU-Singapore Free Trade Agreement (FTA) creates significant opportunities for businesses in both regions by making it easier and cheaper to import and export. All it takes to take advantage of duty-free access is a simple declaration to be added to the commercial invoice.
Learn how you could benefit from the EU-Singapore FTA.
What’s in it for your business?
Cost savings
Almost all goods are able to be traded duty-free and non-tariff barriers reduced.
Improved access
Easier access to the Singapore market could mean new opportunities for your business.
Simpler regulation
It is now easier for EU and Singapore companies to work together, for example, by aligning product safety standards.
Simplified, modern customs procedures
Modern customs processes allow for quick and easy release of your goods.
NOTE: The trade agreement applies to duties, not taxes. Any applicable GST for imports into Singapore and VAT for imports into the EU still needs to be paid.
How can I benefit?
To benefit from reduced or 0% tariffs, products must be of ‘EU origin’. All it takes is a declaration. No formal certificate is required. Simply add the following to your commercial invoice (or any other commercial document) along with a detailed description of the goods as you would usually do:
Sample Statement of Origin:
(Period: from___________ to __________)
The exporter of the products covered by this document (customs or competent governmental authorisation No ______) declares that, except where otherwise clearly indicated, these products are of EU preferential origin.
__________________________________
(Place and date)
_________________________________
(Signature of the exporter, in addition the name of the person signing the declaration has to be indicated in clear script)
Declarations of origin will be valid for 12 months from the date it was made out for exports to Singapore.
It is essential that the declaration is filled out correctly or it may be rejected by customs. Please consult the official text of the origin declaration, which comes with explanatory notes and is available in all applicable languages.
The customs or competent governmental authorisation No is your Approved Exporter number. It is required for all shipments valued over €6000.
How to get an Approved Exporter number
- To become an Approved Exporter, get in touch with your national customs authority.
- For guidance on how to obtain this status in the EU, you can also consult this guide.
How can FedEx help?
Fast Intercontinental Shipping
We help your business reach its full potential. With our express parcel service, you can import from Singapore and export to Singapore in just 2 days*.
Easy Customs Tools
Make clearance easier thanks to our free tools. With FedEx Electronic Trade Documents, reduce the risk of customs delays by submitting your documentation electronically.
Expert Knowledge
Take advantage of the Shipping Channel – a website containing easy-to-understand guides covering a wide range of topics. From paperwork and customs procedures to country-specific requirements.
* Availability of services and transit times referred to may vary depending on shipment type, origin and destination. Terms and conditions apply – visit fedex.com for full details of our services.
Always make sure to check the rules and regulations of the country you’re shipping from and to prior to shipping. Please review the EU-Singapore Free Trade Agreement for more information.