Singapore and the Philippines are members of AFTA, which reduces intra-regional tariffs through the Common Effective Preferential Tariff (CEPT) scheme. CEPT reduces intra-regional tariffs to between 0% to 5%.
ATIGA seeks to establish a single market and production based with free flow of goods in the ASEAN region. Today, Philippines and Singapore have eliminated intra-ASEAN import duties on 99.56% of their tariff lines.
Signed in 1977, Singapore has a DTA with the Philippines. This allows companies relief from double taxation should they have income-generating businesses in both countries.
In the first half of 2019, the SCCCI signed a Memorandum of Agreement with the Makati Business Club during the chamber’s delegation visit to the market. The agreement aims to foster closer business ties between Singapore and Filipino businesses.