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Standards Icon

ASEAN - Korea
Free Trade Area (AKFTA)

Key Benefits
 
  • 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.
 
Entry Into Force
 
  • 1 June 2007 – Trade in Goods (except Thailand - 1 October 2009)
  • 1 May 2009 – Trade in Services
  • 1 September 2009 – Investment
 
Can your product(s) enjoy this FTA's tariff concessions?
 

Step 1: Find out what is the preferential rate offered for your product

 
  • Brunei Darussalam
  • Cambodia
  • Indonesia
  • Lao PDR
  • Malaysia
  • Myanmar
  • Philippines
  • Republic of Korea
  • Singapore
  • Thailand
  • Vietnam

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
How to apply?
 

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.

Manufacturer’s Application Form Manufacturing Cost Statement Preferential Certificate of Origin
Manufacturer’s Application Form
Manufacturing Cost Statement
Preferential Certificate of Origin

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

AKFTA Legal Text
 

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(Last updated on 01 January 2022 03:29:37)