ASEAN - Korea
Free Trade Area (AKFTA)

• AKFTA eliminates tariffs for 80% of the goods traded between ASEAN and Korea.
• Allows for back-to-back shipment of goods within member countries: Where goods brought into Singapore from ASEAN countries or Korea are re-exported within these countries, without any processing in Singapore, can enjoy tariff concessions. Originating products passing through Parties can also retain their originating status.
• Allows for third-party invoicing of goods: Customs authorities in the importing country may accept a Certificate of Origin when the sales invoice is issued from a different country or a different company exporting the originating goods in various sectors, provided that the good meets the necessary requirement. This invoice can come from countries that are not Parties to AKFTA.
• Allows for ASEAN Cumulation: Where originating raw materials sourced from other ASEAN countries and Korea can be taken into account when assessing the origin criteria of the final product manufactured in Singapore. This will make it easier for Singapore exporters’ products to meet the criteria for preferential treatment.
• Safeguards market access and ensures a more predictable operating environment for service suppliers through creating a more transparent, facilitative, and secure environment for investors. Investors can look forward to fair and equitable treatment and full protection and security of covered investments; transfers of funds relating to covered investments; and compensation in the event of nationalisation or expropriation of covered investment.

• 1 June 2007 – Trade in Goods (except Thailand - 1 October 2009)
• 1 May 2009 – Trade in Services
• 1 September 2009 – Investment

Step 2: Find out your product's rules of origin

 

Rules of origin are a set of criteria which determine a product's originating status in each respective FTA. It is put in place to ensure that only goods originating from the FTA partner countries will benefit from tariff concessions.

Is your product obtained/produced entirely within Singapore?		Wholly Obtained Rule applies
Does your product fall under the list for 'Product Specific Rules'? Click here to find out		Product Specific Rule applies
40% of its content must originate from the ASEAN-Korea region or non-originating raw materials must have undergone a change in the first 4 digits of the HS code from the finished good

Is your product obtained/produced entirely within Singapore?
	Wholly Obtained Rule applies
Does your product fall under the list for 'Product Specific Rules'? Click here to find out
	Product Specific Rule applies
40% of its content must originate from the ASEAN-Korea region or non-originating raw materials must have undergone a change in the first 4 digits of the HS code from the finished good

Singapore Customs is the authorised body in Singapore for FTA Preferential Certificate of Origin (PCO) application. Below are the three general documentary processes in using FTA.

The process from registration to receiving PCO would typically take less than one month. Please refer here for more information.

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