1005: using singapore as a springboard to asia: practical ... · pdf filems. schwendinger is...

ACC’s 2013 Annual Meeting October 27-30, Los Angeles, CA

This material is protected by copyright. Copyright © 2013 various authors and the Association of Corporate Counsel (ACC). Materials may not be reproduced without the consent of ACC or the copyright holder.

Reprint permission requests should be directed to ACC’s Legal Resources Department at [email protected]

Wednesday, October 30 11:00 AM - 12:30 PM 1005: Using Singapore as a Springboard to Asia: Practical Considerations in Conducting Asian Operations From Singapore Kim Huat Chia Executive Committee Partner (Rajah & Tann LLP) Lex Mundi Jo Anne Schwendinger Regional General Counsel - Asia Pacific & Sub-Saharan Africa John Deere Asia Scott A. Trainor VP, Regional General Counsel, APJ SAP Asia Pte. Ltd. Charles Wilkinson Senior Corporate Counsel Ashland Inc

ACC's Annual Meeting 2013 October 27-30, Los Angeles, CA

1 of 35

Faculty Biographies Session 1005

Kim Huat Chia Executive Committee Partner (Rajah & Tann LLP) Lex Mundi Jo Anne Schwendinger Jo Anne Schwendinger is John Deere's regional general counsel for Asia-Pacific & Sub-Saharan Africa, a position she has held since 2010. She is located in Deere's Singapore office, and manages a regional law services team in China, India, Singapore and South Africa. As a member of Deere's regional business management team, she actively participates in strategic business decisions. She also provides legal guidance on business development, competition, distribution, supply, compliance and employee relations matters. Ms. Schwendinger joined Deere in 2000 as counsel to John Deere Financial, and moved to the parent company law department in 2008. Prior to joining John Deere she represented financial institutions in corporate lending and international trade finance transactions, and advised on OFAC and antiboycott compliance. She also worked as in-house counsel to a mining consortium operating in West Africa. Ms. Schwendinger is the president of the ACC's Singapore Chapter, and is an active volunteer in the ASEAN chapter of the International Association for Contract and Commercial Management. She holds a Licence (B.A. equivalent) from the University of Avignon, France, and a Maitrise (M.A. equivalent) from the University of Strasbourg, France. Her law degree is from the University of Pittsburgh School of Law, where she was Managing Editor of the Law Review. Scott A. Trainor VP, Regional General Counsel, APJ SAP Asia Pte. Ltd. Charles Wilkinson Charles F. Wilkinson is a senior corporate counsel for Ashland Inc, a Fortune 500 company providing products and services through Ashland Performance Materials, Ashland Consumer Markets, Valvoline International, Inc., Ashland Water Technologies, and Ashland Specialty Ingredients, GP. He has global responsibility for Ashland's international trade activities (EAR, ITAR, FCPA, OFAC, and AML compliance), international transactions, government relations (political action committees and lobbying), commercial and government contracts, acquisitions and divestitures, and corporate real estate.


2 of 35

Prior to joining Ashland, Mr. Wilkinson held several law department positions with Lockheed Martin Corporation in Baltimore, Maryland and Marietta, Georgia, and with Hercules Incorporated, Wilmington, Delaware. In those positions his responsibilities included commercial and government contracts, international transactions, economic development, corporate real estate, and litigation. Before entering corporate practice, he was a US Air Force Judge Advocate with assignments in the US and overseas. Mr. Wilkinson has significant experience of dealing with distribution arrangements in China and the wider AP region. Mr. Wilkinson belongs to ACC's Corporate and Securities Law Committee, Information, Technology Law & e-Commerce Committee, International Legal Affairs Committee, Law Department Management Committee, and Real Estate Law Committee. Mr. Wilkinson received his BS from Loyola University of Chicago and a JD from Northern Illinois University.


3 of 35

��

��

��

,85�*?<5�?6��B55�,B145��7B55=5>DC

�L�,�K+M�

"?��>>5�+38G5>49>75B*579?>1<��5>5B1<��?E>C5<�C91(139693��+E2+181B1>��6B931"?8>��55B5

��

��+9>71@?B5�9C�1�DB149>7�>5HEC

��,�KC�1>4�DB145

��/81D�9C�1>��,��

�� ?G��,�KC�@B?=?D5�DB145

��+9>71@?B5KC��,�KC


4 of 35

+9>71@?B5�9C�1 ,B149>7�&5HEC

��

L+9>71@?B5 9C B978D 9> D85 D893; ?6 D85 13D9?>� 259>7CDB1D57931<<I <?31D54 9> D85 =944<5 ?6 ;5I DB145 6<?GC 6B?=�C91� �ECDB1<91� �EB?@5� D85 %944<5 �1CD 1>4 D85 -+#>?G> 6?B 81F9>7 D85 =?CD ?@5> 53?>?=I 6?B DB149>71>4 ?>5 ?6 D85 =?CD 3?=@5D9D9F5 53?>?=95C 9> D85 G?B<4�+9>71@?B5 9C G5<<@?C9D9?>54 D? 25 I?EB DB149>7 8E2 6?B�C91M � ��

� ��###��"��"��"��#

�,�KC�1>4�,B145

• �,�KC�1B5�LCE@5B8978G1IC D81D�3?>>53D�+9>71@?B5�D?

=1:?B�53?>?=95C��>5G�=1B;5DCM

� �� ###�� "��

• L 978AE1<9DI��3?=@B585>C9F5�6B55�DB145�17B55=5>DC

31>�@<1I�1>�9=@?BD1>D�B?<5�9>�CE@@?BD9>7�7<?21<�DB145

<925B1<9C1D9?>M

�!� ��

� ��###�� "��!��


5 of 35

/81D 9C�1>��,��

• �7B55=5>D�1=?>7 DG? ?B�=?B5�3?E>DB95C

• �9<1D5B1<��DG?�3?E>DB95C�

• %E<D9<1D5B1<

• %?B5�D81>�DG?�3?E>DB95C��?B

• ��DB149>7�7B?E@��1�3?E>DBI

• �138�3?E>DBIKC�<1G�45D5B=9>5C�8?G�D85��,��253?=5C<?31<�<1G

• (B?=?D5C DB145�� 5>3?EB175C 53?>?=93�7B?GD8

?G��,�KC�(B?=?D5�,B145

• �139<9D1D5 3B?CC2?B45B�=?F5=5>D�?6 7??4C

• *54E35�?B�5<9=9>1D5�D1B966C�?>�7??4C�?B979>1D9>7�9>

D85�3?E>DBI�?6�1>��,��@1BD>5B

• �?==?>�BE<5C�?6�?B979>

• 1B=?>9J54�>?=5>3<1DEB5�6?B�7??4C

• �?==?>�3ECD?=C�@B?354EB5C��6?B=C

• ->45BD1;9>7C�?>�3ECD?=C�3<51B1>35�1>4�B5<51C5


6 of 35

?G��,�KC�(B?=?D5�,B145

• �139<9D1D5 3B?CC2?B45B�=?F5=5>D�?6 C5BF935C

• *53?7>9D9?>�?6�54E31D9?>1<�AE1<96931D9?>C

• *53?7>9D9?>�?6�@B?65CC9?>1<�<935>C5C

• �B?CC2?B45B�45<9F5BI�?6�C5BF935C

• �9>1>391<

• ,5<53?==E>931D9?>C

• $?79CD93C�1>4�DB1>C@?BD1D9?>

?G��,�KC�(B?=?D5�,B145

• �53B51C5�>?>D1B966�21BB95BC�CE38�1C

• !=@?BD�<935>C9>7

• ,538>931<�B5AE9B5=5>DC

• $?31<�3?>D5>D�BE<5C

• +1>9D1BI��@8ID?C1>9D1BI�B5AE9B5=5>DC

?@@?BDE>9D95C


7 of 35

?G��,�KC�(B?=?D5�,B145

• �7B55=5>DC�D?

• (B?D53D�9>D5<<53DE1< @B?@5BDI

• �139<9D1D5�6?B597>�9>F5CD=5>D

• �H@1>4�3B?CC2?B45B�7?F5B>=5>D�@B?3EB5=5>D

?@@?BDE>9D95C

+9>71@?B5KC �,�KC

• ��,�KC��C55��>>5H�6?B�3?=@<5D5�<9CD�� 9>3<E49>7�G9D8

9DC�D?@�DB145�@1BD>5BC�� >E=25BC�

• �H@?BDC�� ?>7�#?>7��89>1�� %1<1IC91

��-+��

• !=@?BDC��89>1�� %1<1IC91�� ->9D54

+D1D5C��"1@1>��'D85B��C91��


8 of 35

+9>71@?B5KC��9BCD��,�

�CC?391D9?>�?6�+?ED851CD��C91>�&1D9?>C �L�+��&M�

• �?B=54��

• 'B979>1<�=5=25B�3?E>DB95C��!>4?>5C91��%1<1IC91�

(89<9@@9>5C��+9>71@?B5��,819<1>4

• �449D9?>1<��BE>59��1BECC1<1=��1=2?491

��$1?�(�*��%I1>=1B��.95D�&1=

��

+9>71@?B5KC��9BCD��,�

�+��&

• ,8B55�@9<<1BC�?6��+��&

• (?<9D931<�� +53EB9DI��?==E>9DI

• �3?>?=93 �?==E>9DI

• �,�KC�61<<�E>45B�D85��+��&��3?>?=93

�?==E>9DI

• +?39?3E<DEB1< �?==E>9DI


9 of 35

�>>5H

+9>71@?B5KC��,�KC

��

� �+��& �B55�,B145 �B51

,B1>C(139693�+DB1D5793��3?>?=93�(1BD>5BC89@

�7B55=5>D ��BE>59��&5G�051<1>4��89<5��+9>71@?B5�

� �+��&�ECDB1<91&5G�051<1>4

� �+��&�89>1

+9>71@?B5KC��,�KC

��

� �+��&!>491 ,B145�9>��??4C

� �+��&"1@1>

� �+��&#?B51 �B55�,B145 �B51

� �EB?@51>��B55�,B145��CC?391D9?>��+G9DJ5B<1>4�

$9538D5>CD59>��&?BG1I��!35<1>4�+9>71@?B5


10 of 35

+9>71@?B5KC��,�KC

��

�9<1D5B1<

� +9>71@?B5�ECDB1<91

�� 89>1+9>71@?B5

�� +9>71@?B5�?CD1�*931

� +9>71@?B5"?B41>

�� !>491+9>71@?B5 �?=@B585>C9F5��3?>?=93

�??@5B1D9?> �7B55=5>D

+9>71@?B5KC��,�KC

��

�9<1D5B1<

�� "1@1>+9>71@?B5 �3?>?=93�(1BD>5BC89@ �7B55=5>D

�� #?B51+9>71@?B5

�� 7B55=5>D 25DG55>�&5G�051<1>4�1>4�+9>71@?B5�?>�1

�<?C5B��3?>?=93 (1BD>5BC89@

�� (1>1=1+9>71@?B5

�� (5BE+9>71@?B5

�� -++9>71@?B5


11 of 35

+9>71@?B5KC��,�KC

��!�� $� ��

• �??@5B1D9?> �?E>39<�6?B�D85��B12�+D1D5C�?6�D85��E<6

��18B19>��#EG19D��'=1>��)1D1B��+1E49��B1291��D85

->9D54��B12��=9B1D5C�

+9>71@?B5KC��,�KC

'>7?9>7�>57?D91D9?>C

• �+��&!>491 +5BF935C�1>4�!>F5CD=5>D

• �+��&"1@1>�+5BF935C�1>4�!>F5CD=5>D

• �1>141

• %5H93?

• (1;9CD1>

• ,B1>C(139693�(1BD>5BC89@

• -;B19>5


12 of 35

© Rajah & Tann LLP

INVESTMENT AND FUNDINGENVIRONMENT IN SINGAPORE27 October 2013Presentation by Chia Kim HuatRajah & Tann LLP, Singapore

Outline

• Basic Principles Governing Investment

• Business and Investment Regulatory Bodies

• Foreign Presence in Singapore

• Policies to Attract Foreign Investment

• Financing Options

• Listing on SGX-ST


13 of 35

© Rajah & Tann LLP

Basic Principles Governing Investment

Basic Principles:-

• No differentiation between domestic and foreign companies

• No differentiation between State-owned and private companies

• Unified tax treatment

• Similar preferential treatment

Business and Investment Regulatory Bodies

1. Ministry of Trade and Industry (MTI)

• Promoting economic development at a macro level

• www.mti.gov.sg

2. Accounting & Corporate Regulatory Authority (ACRA)

• Registration and regulation of various business entities (eg. company, soleproprietorship, partnership and public accountant)

• www.acra.gov.sg


14 of 35

© Rajah & Tann LLP

Business and Investment Regulatory Bodies – cont’d

3. Economic Development Board (EDB)

• Responsible for attracting foreign investment

• www.edb.gov.sg

4. International Enterprise Singapore (ieSingapore)

• Promoting export of Singapore products and services

• www.iesingapore.gov.sg


5. Jurong Town Corporation (JTC)

• Providing industrial properties for enterprises

• www.jtc.gov.sg

6. Singapore Business Federation

• Acting as a bridge between enterprises and the government

• www.sbf.org.sg


15 of 35

© Rajah & Tann LLP


7. Enterprise One

• Business Model

• Procedures and Types of Establishment

• Funding Channels

• Market Information

• Laws and Regulations

→ www.business.gov.sg

Foreign Presence in Singapore

1. Establishing a Representative Office

2. Establishing a Branch Office

3. Incorporating a Singapore Company

4. Acquiring an Existing Company


16 of 35

© Rajah & Tann LLP

Foreign Presence in Singapore– cont’d

1. Establishing a Representative Office

• Scope of Business

� Market Research

� Feasibility Study

• Shall not carry out sales or other revenue generating businesses

• Subject to approval by ieSingapore

• Subject to approval by MAS for banking and insurance business


2. Establishing a Branch Office

• Not an independent legal person

• May carry out business of its parent company

• Need to be registered with ACRA

• Need to appoint 2 local representatives to carry out its business

• Need to obtain special licenses for engagement in particular business (eg.banking and insurance)


17 of 35

© Rajah & Tann LLP


3. Incorporating a Singapore Company

• May carry out same business as local companies

• Need to be registered with ACRA

• Subject to special approval for particular industries

• Procedures Simple:

� Reservation of Enterprise Name (15 minutes)

� On-line registration (15 minutes)


3. Incorporating a Singapore Company (cont’d)

• Basic Requirements:

� Shareholder 1

� Director 1 (Singapore resident)

� Capital S$1

� Auditor 1 (within 3 months)

� Company Secretary 1 (within 6 months)


18 of 35

© Rajah & Tann LLP


3. Incorporating a Singapore Company (cont’d)

• Annual Return

• Year-end Audit (except for certain exempt companies)

• Notice for change of basic particulars


4. Acquiring an Existing Company

a. Private Company

• Industry Restriction

• 1 Director being Singapore Resident

b. Listed Company

• Shareholding Disclosure Liability

• Mandatory Offer


19 of 35

© Rajah & Tann LLP

Policies to Attract Foreign Investment

1. International and Regional Headquarters Scheme

• Setting up international or regional operational headquarters in Singapore

• Lower income tax

• International headquarters may enjoy more preferential treatment

7 EDB

Policies to Attract Foreign Investment – cont’d

2. Global Trader Programme

• Setting up international or regional base in Singapore

• Applicable to international trade, re-export and other related industries

• Lower tax for offshore trading income

7 ieSingapore


20 of 35

© Rajah & Tann LLP

Policies to Attract Foreign Investment – cont’d

3. Incentives for Other industry or business

• Maritime

• Fund Management

• R&D and IP

• Pioneering Industries

Financing Options

1. Bilateral / Syndication Bank Loan (Sing Dollar or Foreign Currency)

2. Trade / LC Facility

3. Housing Loan

4. Bonds

5. Derivatives


21 of 35

© Rajah & Tann LLP

Listing on SGX-ST

��

�� " �� " ��

��!��

��!��

��

��

��

��

��

��

��

��

��

Listing on SGX-ST - Mainboard

• “Criteria 1”

� have an operating track record of at least three years

� not less than S$30 million for the latest financial year


� have an operating track record of at least three years

� profitable in the latest financial year (no minimum requirement)

� market capitalization of not less than S$150 million


� operating revenue in the latest financial year (no minimum requirement)

� market capitalization of not less than S$300 million


22 of 35

© Rajah & Tann LLP

�#��#��$��

��

�0''�. -1$� �!$-(�2$/#�/# '�-" ./�- "$*)�'�!**/+-$)/

�$"#'4�- "�-� ��!*-�$/.' ��$)"�'�24 -.��)��+-��/$� .

��-" ./�'�2�!$-(�$)��$)"�+*- �)��*0/#��./� .$�


23 of 35

© Rajah & Tann LLP

��

��

��

��!�� !��

��

��%�#�� )) � /# �( (� -!$-(�!*-��$)"�+*-

�-*1$�$)"��'$ )/.��/-0'4"'*��'�- ��#

�*-'��.�/*+�$)� + )� )/�''$�)� �*!�' ��$)"�'�2�!$-(.

��% "��


24 of 35

© Rajah & Tann LLP

��

�($-�'/4��#$++$)"

++ �'.��..0 .

��)&$)"��$)�)�

�0.$) ..��$)�)� ��

�).*'1 )�4

�*(( -�$�'��$/$"�/$*)

�*(+ /$/$*)��-�� 2

�*)./-0�/$*)��-*% �/.

�*-+*-�/ ��$)�)� ��

��+$/�'��-& /.

�*-+*-�/ �� '��./�/

�(+'*4( )/��3 �0/$1

�*(+ ).�/$*)

�) -"4�� .*0-� .

�)/ -/�$)( )/�� $��

�+*-/.��(�'$)"

��($'4��-*��/ ��-0./.

�$)�)�$�'�� -1$� .

�*.+$/�'$/4

�).0-�)� �� $).0-�)�

�)/ "-�/ �� "0'�/*-4

�)/ '' �/0�'��-*+ -/4

�)/ -)�/$*)�'� -�$/-�/$*)

� �$��'��2

� -" -.�� ,0$.$/$*).

�-$1�/ �� '/#

��)�" ( )/

�)!-�./-0�/0- ��-*% �/��)�

�$)�)�

��3

� �#)*'*"4��

� ' �*((0)$��/$*).

�#$/ ��*''�-��-$(

��


25 of 35

© Rajah & Tann LLP

��

� ��

��%�#��))6.�� / �(�5./�)�.�*0/�(*)"�$/.��*(+ /$/*-.6�

��%�#��))��(*)"�*/# -��$-(.�#�.�!$-./��'�..�'$/$"�/*-.�2$/# 3+ -$ )� �*!�#�)�'$)"�# �142 $"#/�*(( -�$�'��$.+0/ .�

��! 2��)�-$1�'�/# �!$-(6.�2$� �-�)"$)" 3+ -$ )� ��2$/#��.0�./�)/$�'�)0(� -*!�*!!.#*- �+-*% �/.��*(+' ( )/$)"$/.�/#-$1$)"��*( ./$��2*-&�

��

� ��$��

��!��!��#��$ ��

�*+��$)/ -)�/$*)�'��-�$/-�/$*)+-��/$� �$)�/# �2*-'��!*-��*). �0/$1 �4 �-.�

��%�#��))�#�.��1 -4� !! �/$1 / �#)*'*"4�+-��/$� ��)��5#$"#'4 !! �/$1 6�$)/ '' �/0�'�+-*+ -/4+-��/$� ��)��/ �(�


26 of 35

© Rajah & Tann LLP

��!��!��$��#��$��

�� # ��*-'�6.�� $)"��24 -.

�).*'1 )�4��)��- ./-0�/0-$)"�$./# �!$-(�.�.#*2+$ � �� +�-/( )/��*�./$)"��'�24 -.�2#*�#�1 ��/ �*)��2$� �-�)" �*!�.�# ( .�*!�--�)" ( )/�� /�- ./-0�/0-$)".�%0�$�$�'�(�)�" ( )/.�- � $1 -.#$+.��)��'$,0$��/$*).�

�# �5�$"" ./��)�� ./6�.#$++$)"+-��/$� ��*�./$)"�5!$) �'�24 -.�*($)"�*0/�*!�$/.� �-.6�

��

Rajah & Tann LLP, Singapore

9 Battery Road #25-01Straits Trading BuildingSingapore 049910

Tel: (65) 6535 360024 Hr : (65) 9690 2253Fax: (65) 6225 9630www.rajahtann.com

Rajah & Tann LLP ShanghaiRepresentative Office

Unit 1905-1906, Shui On Plaza, 333 HuaiHai Middle Road, Shanghai 200021, PRC

Tel:: (86) 21 6120 8818Fax: (86) 21 6120 8820cn.rajantann.com

Rajah & Tann (Laos) Co., Ltd

Phonexay Village, 23 Singha Road,House Number 046/2, Unit 4Saysettha District, Vientiane Capital,Lao PDR

Tel: (85) 6 21 454 239Fax: (85) 6 21 285 261la.rajahtann.com

R&T Vietnam LLC

65 Le Loi Boulevard,Unit 10-02 Saigon Centre,District 1, Ho Chi Minh City,Vietnam

Tel: (84) 8 3821 2673Fax: (84) 8 3821 2685vn.rajahtann.com

Rajah &Tann (Thailand) Limited

999/9 The Offices at CentralWorld10th Floor, Room LL1001Rama I Road, PathumwanBangkok 10330, Thailand

Tel: (66) 2264 5055Fax: (66) 2264 5057th.rajahtann.com

Rajah & Tann NK Legal Myanmar Co Ltd

Room 007, Inya Lake HotelNo. 37, Kaba Aye Pagoda Road,Mayangone TownshipYangon, Myanmar

Tel: (959) 73040763 / (951) 9662866 /(951) 9662857

Fax: (951) 657902 / (951) 9665537mm.rajahtann.com

� ��


27 of 35

© Rajah & Tann LLP

Christopher & Lee Ong

Kuala Lumpur

D2-3-1, Solaris Dutamas,No. 1, Jalan Dutamas 1,50480 Kuala Lumpur, MalaysiaTel: (603) 6207 8282Fax: (60) 6207 9922 / 9900www.christopherleeong.com


Petaling Jaya

25-2, Block B,Jaya One Section 13,46200 Petaling Jaya, MalaysiaTel: (603) 7958 8310Fax: (603) 7958 8311


KL Sentral

Suite 3B-16-7, Level 16, Block 3B,Jalan Stesen Sentral 5, Kuala LumpurSentral, 50470 Kuala Lumpur, MalaysiaTel: (603) 2278 8311Fax: (603) 2273 8322

Cambodia

R&T Sok & Heng Law Office

No. 11, Street 41,Sangkat Tonle Basac,Khan Chamkarmorn 12300Phnom Penh, Cambodia

Tel: (855) 23 215 734 / 726 270Fax: (855) 23 726 417rtsok-heng.com

Jakarta, Indonesia

Assegaf Hamzah & Partners

Menara Rajawali 16th Floor Jl. MegaKuningan, Lot 5.1, Kawasan MegaKuningan, Jakarta 12950, Indonesia

Tel: (62) 21 2555 7800Fax: (62) 21 2555 7899www.ahp.co.id

Dubai, UAE (Affiliate Firm)

Al Tamimi & Co

Dubai - DIFC Head officeDubai International Financial Centre, 6th floor,Building 4 East, Sheikh Zayed Road,PO Box 9275, Dubai, UAETel: (971) 4 364 1641Fax: (971) 4 364 1777www.tamimi.com

��


28 of 35

,*!&��*!&��(')��*��*()!&��'�)��+'��*!�

�� &&,�$�%��+!&�

$'*��&��$�*��$!�')&!�

!� $!� +*

• (>;8C820;�BC018;8CH�C70C�8B�E8C0;�C>�5>A486=�8=E4BC<4=CB

• �>E4A=<4=C�064=284B�70E4�0�?A>1DB8=4BB�0CC8CD34�0=3�F>A:�2;>B4;H�F8C7

1DB8=4BB4B�C>�?A><>C4�42>=><82�6A>FC7

• �G24;;4=C�CA0=B?>AC0C8>=��2><<D=820C8>=B�0=3�10=:8=6�5028;8C84B

• �867C44=�A468>=0;�0=3�18;0C4A0;�5A44�CA034�06A44<4=CB�F8C7�CF4=CH�5>DA

CA038=6�?0AC=4AB�0=3�C74�C78ACH�=8=4�8=E4BC<4=C�6D0A0=C44�06A44<4=CB

• �><?4C8C8E4�C0G�A468<4�F8C7�0�;>F�C0G�A0C4��F834�A0=64�>5�C0G�8=24=C8E4B

0=3�0;<>BC�B4E4=CH�3>D1;4�C0G0C8>=�06A44<4=CB

• �=�JM��MK�58=0=280;�A0C8=6

• �0?8C0;�<0A:4CB�0B�0=�0;C4A=0C8E4�B>DA24�>5�58=0=28=6

• �8=0=280;�)4?>AC8=6�*C0=30A3B�C70C�0A4�2;>B4;H�<>34;43�05C4A�C74

!=C4A=0C8>=0;��8=0=280;�)4?>AC8=6�*C0=30A3B


29 of 35

*!&��(')�K*��'&*+!+,+!'&��&��*+),�+,)�

• �5542C8E4�8=��A4E8B43�8=��0=3��

• �>=BC8CDC8>=�8B�10B43�>=��=6;8B7�2><<>=�;0F�F8C7�5>DAC44=�?0ACB�0=3

>=4�7D=3A43�585CH�C7A44�0AC82;4B

• �>=BC8CDC8>=�?A>E834B�5>A�0�;814A0;�34<>2A02H��7>F4E4A��>=4�?0ACH�AD;4

5>A�<>A4�C70=�5>ACH58E4�H40AB

• ��28CHBC0C4�F8C7>DC�;>F4A�>A34A�03<8=8BCA0C8E4�38E8B8>=B

• &>�?A>E8=280;�>A�;>20;�6>E4A=<4=CB

• �3E8B>AH�1>384B�10B43�>=�C74� ��4;42C>A0;�38E8B8>=B

('$!+!��$��#�)',&�

• (0A;80<4=C0AH�A4?A4B4=C0C8E4�34<>2A0C82 A4?D1;82

• $403�A>;4B��(A4B834=C��7845 >5 *C0C4��(A8<4�%8=8BC4A

• ,=820<4A0; ?0A;80<4=C�>5�4867CHB4E4=�<4<14AB�5>A�58E4H40A�C4A<B

• (A>B?42C8E4�;0FB�0A4 8=CA>3D243�0B�18;;�8= (0A;80<4=C��48C74A�1H�C74�(A8<4

%8=8BC4A�>A�1H�0�%4<14A�>5�(0A;80<4=C

• �8;;B�0A4�A403�1DC�=>C�3410C43�F74=�8=CA>3D243

• (0A;80<4=C�3410C4B�C74�18;;�0=3�85�0224?C43�B4=3�8C�C>�0 *4;42C��><<8CC44

5>A�4G0<8=0C8>=

• +74�*4;42C��><<8CC44�B4=3B�0�A4?>AC�102:�C>�(0A;80<4=C�5>A�?0BB064

• !5�?0BB43��B86=43�1H�(A4B834=C�0=3�142><4B�;0F


30 of 35

"D38280;

• *D?A4<4 �>DAC F8C7�0��7845�"DBC824�0=3��9DBC824B��>A60=8I43�8=C>�0=

D??4A�C84A��??40;��>DAC�0=3�0�;>F4A�C84A� 867��>DAC

• �7845�"DBC824�8B�C74� 403 >5�C74 "D38280AH�0=3�8B�0??>8=C43�1H�C74

(A4B834=C�F8C7�C74�2>=B4=C�>5�C74�(A8<4�%8=8BC4A

• �>DAC >5 �??40;��A4E84FB�3428B8>=B�>5 C74 867��>DAC

• 867��>DAC��A8<8=0;�0=3�28E8;�20B4B�>5�58ABC�8<?A4BB8>=

• *D1>A38=0C4��>DACB��38BCA82C��<068BCA0C4B��9DE4=8;4��50<8;H��2><<D=8CH�

0=3�2>A>=4AB��2>DACB��B<0;;�2;08<B�CA81D=0;B

• *70A8K07 2>DAC�F8C7�9DA8B382C8>=�85�0;;�C74�?0AC84B�8=E>;E43�0A4�%DB;8<B�>A

F74A4�C74�?0AC84B�F4A4�<0AA843�D=34A�C74�?A>E8B8>=B�>5�C74�%DB;8<�;0F

0=3�C74�38B?DC4�A4;0C4B�C>�C74�8BBD4B�>5�38E>A24�0=3�<0AA8064

)�(,+�+!'&��')� '&�*+/

• *8=60?>A4�8B�2>=B834A43 >=4�>5�C74�;40BC�2>AAD?C�2>D=CA84B�8= C74�F>A;3

• +A0=B?0A4=2H�!=C4A=0C8>=0;��>AAD?C8>=�!=34G�� >DC�>5��

• �=C82>AAD?C8>=�5>2DB��01DB4�>5�?D1;82�?>F4A�>A�>55824��DB4�>5

6>E4A=<4=C� >55824�>A A4B>DA24B�5>A�?4AB>=0; 14=458C

• �;B>�?A>7818C43��1A814AH��4GC>AC8>=��1;02:<08;��E>C4�1DH8=6


31 of 35

L-!+�$�*+�+!*+!�*M

• �>A486=4AB�0A4�C78ACH�4867C�?4A24=C >5 C74�?>?D;0C8>=

• 'E4A�B4E4=�C7>DB0=3�8=C4A=0C8>=0;�2><?0=84B

• �>DAC7�@D0AC4A�A4BD;CB�74;?43�=0AA>F;H�0E>83�0�A424BB8>=�8=� ��

• �G?4=B8E4�2><?0A43�C>�=48671>A8=6�2>D=CA84B�BD27�0B�+708;0=3�>A�C74�">7>A)468>=�8=�%0;0HB80

• �DAA4=2H��*8=60?>A4��>;;0A�0??A4280C43�0;<>BC��>E4A�C74�?0BC�58E4�H40AB

• *8GC7�<>BC�4G?4=B8E4�28CH�8=�C74�F>A;3

• �867C7�<>BC�4G?4=B8E4�28CH�5>A�A4=C8=6�A40;�?A>?4ACH

• (>?D;0C8>=��4G?42C43�C>�8=2A40B4�C>��1H� ��

• )0C43�0B�C74�40B84BC�?;024�8=�C74�F>A;3�5>A�B<0;;�0=3�<438D<B8I434=C4A?A8B4B�C>�3>�1DB8=4BB��022>A38=6�C>�0�.>A;3��0=:�0=3�!=C4A=0C8>=0;�8=0=24��>A?>A0C8>=

• �4BC�1DB8=4BB�4=E8A>=<4=C�8=��B80�(028582�0=3�F>A;3F834��>D=CAH��>A420BCB��424<14A� ��2>=><8BC�!=C4;;864=24�,=8C�

• �<>=6�C74�C>?�C7A44�8=�C74�F>A;3�5>A�70E8=6�C74�14BC�?A>C42C8>=�>58=C4;;42CD0;�?A>?4ACH��;>10;��><?4C8C8E4=4BB�)4?>AC� �� .>A;3�2>=><82��>AD<�

�,*!&�**�*+),�+,)�*

• �><?0=84B��1A0=274B��B>;4?A>?A84C>AB78?B�0=3�?0AC=4AB78?B

�8=2;D38=6�;8<8C43�;8018;8CH�?0AC=4AB78?B�0=3�;8<8C43�?0AC=4AB78?B�

• ��5>A486=�8=2>A?>A0C43�2><?0=H�8B�A4@D8A43�C>�A468BC4A�0�1A0=27�8=

*8=60?>A4�?A8>A�C>�2>=3D2C8=6�1DB8=4BB

• +F>�;>20;�064=CB�<DBC�14�0??>8=C43��027�064=C�<DBC�14�0C�;40BC

4867C44=�H40AB�>;3�0=3�48C74A�

– 0�*8=60?>A4�28C8I4=�

– 0�*8=60?>A4�?4A<0=4=C�A4B834=C�

– 0=�4<?;>H<4=C�?0BB�7>;34A�

– 0=�0??A>E0;8=?A8=28?;4�4<?;>H<4=C�?0BB�7>;34A��>A

– 0�34?4=30=C�?0BB�7>;34A


32 of 35

WHY SINGAPORE? Singapore is the “Centre of the Trading Universe”

“Singapore is right in the thick of the action, being strategically located in the middle of key trade flows from Asia, Australia, Europe, the Middle East & the US. Known for having the most open economy for trading & one of the most competitive economies in the world, Singapore is well-positioned to be your trading hub for Asia.” See http://www.iesingapore.gov.sg/Trade-From-Singapore/Overview

Free Trade Agreements (“FTA’s”) are a key tool for trade development What is an FTA?

Agreement between/among 2+ countries Regional or bilateral Promote trade & encourage economic growth

Reduce or eliminate trade barriers Facilitate cross border movement of goods, services, people Reduce/eliminate tariffs Provide market access Protect intellectual property (“IP”) Ease foreign investment rules Open government procurement opportunities

Singapore’s approach International Enterprise Singapore

Government agency that drives Singapore’s external economy Spearheads overseas growth of Singapore-based companies Promotes international trade Vision: a thriving business hub in Singapore with globally competitive companies & leading

international traders See http://www.iesingapore.gov.sg/About-Us/Overview

FTA’s are “Superhighways that connect Singapore to major economies & new markets” See http://www.fta.gov.sg/.

Singapore has 19 FTA’s, including with its top trade partners (2010) Exports: Hong Kong (13%), China (11%), Malaysia, through ASEAN (9%), US (6%) Imports: China (12%), Malaysia (12%), United States (11%), Japan (8%), Other Asia (6%)

Topics covered by FTA’s Trade in goods Rules of origin Customs procedures Services (financial, telecommunications, others) E-commerce Movement of people Investments Sanitary & phytosanitary measures Standards & technical regulations Intellectual property Competition Economic cooperation Dispute settlement


33 of 35

Singapore’s first FTA with Association of Southeast Asian Nations (“ASEAN”) Formed 1967 Original member countries: Indonesia, Malaysia, Philippines, Singapore & Thailand Additional 4: Brunei Darussalam (1984), Cambodia (1999), Lao PDR (1997), Myanmar (1997) &

Viet Nam (1995) Three pillars of ASEAN

Political & security cooperation Economic cooperation

FTA’s fall under the ASEAN Economic Community Socio-cultural cooperation

Singapore’s FTA’s In force 1. 1993 ASEAN Free Trade Area

Updated 2003 - Agreement on Common Effective Preferential Tariff 2012 ASEAN Trade in Goods Agreement 1995 ASEAN Framework Agreement on Services 1998 Framework Agreement on the ASEAN Investment Area

2. 2008 ASEAN-Australia-New Zealand FTA Liberalize trade in goods & services Facilitate investment opportunities

3. ASEAN-China FTA 2002 Framework Agreement 2005 Agreement on Trade in Goods 2007 Trade in Services Agreement 2010 Investment Agreement

4. ASEAN-India FTA 2009 Trade in Goods

5. ASEAN-Japan FTA 2003 Framework Agreement for Comprehensive Economic Partnership 2008 ASEAN Japan Comprehensive Economic Partnership

6. ASEAN-Korea FTA 2007 Trade in Goods Chapter of the ASEAN Korea FTA

7. 2003 Singapore-Australia FTA Comprehensive agreement (goods, services, movement of business persons, government

procurement, IP, competition, e-commerce education cooperation) Greater certainty in Investments IP rights

8. 2009 China-Singapore FTA First comprehensive bilateral FTA between Singapore & another Asian country Goods, services, rules of origin, sanitary measures, trade barriers, customs procedures,

economic cooperation, dispute resolution 9. 2013 Singapore-Costa Rica FTA

Comprehensive agreement 10. 2005 Singapore-Jordan FTA

Singapore’s first FTA with a middle eastern country


34 of 35

Jordan’s first with an Asian country Platform for increasing economic engagement

11. 2005 India-Singapore Comprehensive Economic Cooperation Agreement Comprehensive agreement India’s first comprehensive economic cooperation agreement Singapore’s first comprehensive bilateral FTA with a South Asian economy First time Singapore included tax discussions in FTA process

12. 2002 Japan-Singapore Economic Partnership Agreement Japan’s first FTA

13. 2006 Korea-Singapore FTA Korea’s first FTA with an Asian country

14. 2001 Agreement between New Zealand & Singapore on a Closer Economic Partnership Comprehensive FTA

15. 2006 Panama-Singapore FTA Singapore’s first bilateral FTA with a Latin American country Comprehensive FTA

16. 2009 Peru-Singapore FTA Comprehensive FTA

17. 2003 European Free Trade Association (Switzerland, Liechtenstein, Norway & Iceland)-Singapore FTA Singapore’s only FTA with Europe

18. 2006 Trans-Pacific Strategic Economic Partnership Agreement Brunei, New Zealand, Chile & Singapore Singapore’s first FTA with a South American country Builds on NZ FTA

19. 2004 US-Singapore FTA Concluded (not yet in force)

Cooperation Council for the Arab States of the Gulf (“GCC”, including Bahrain, Kuwait, Oman, Qatar, Saudi Arabia & the United Arab Emirates)

GCC-Singapore FTA signed 2008 Comprehensive FTA Covers recognition of Singapore’s Majlis Ugama Islam Singapore Halal certification

Ongoing negotiations ASEAN-India Services & Investment ASEAN-Japan Services & Investment Canada Mexico Pakistan Trans-Pacific Partnership Ukraine


35 of 35

1005: using singapore as a springboard to asia: practical ... · pdf filems. schwendinger is...

Documents