GENERAL AGREEMENT GATS/EL/76
15April 1994
ONTRADE INSERVICES (94-1142)
SINGAPORE
Final ListofArticle IIMFN Exemptions
(This isauthentic inEnglish only)
____________________SINGAPORE -FINAL LIST OFMFN EXEMPTIONS
Sector orsubsector Description ofmeasure
indicating itsinconsistency
with Article IICountries towhich the
measure appliesIntended duration Conditions creating theneed
fortheexemption
AllSectors:
Presence of:
-unskilled and
semi-skilled
natural persons
-skilled persons
(include craftsmen
skilled ina
particular trade,
butexclude
specialists/
professional
personnel at
management level)Preference forworkers from
traditional sources ofsupplyTraditional sources Indefinite
Singapore willperiodically
review thisinthelight of
domestic andnational policy
considerationsDuetolandconstraints andthe
fundamental need forsocial
cohesion among themulti-racial
population, theGovernment
needs toregulate theflow of
foreign workers, bothskilled
andunskilled, toensure that
Singapore isnotoverpopulated
andforeigners whocould
potentially disrupt social order
arenotadmitted
AllSectors:
Investment
Guarantee
Agreements
(IGAs)Investment guarantee, i.e.
obligations toprotect foreign
investments from unforeseen
contingencies such as
nationalization, war, etc.are
accorded onlytoco-signatories
ofInvestment Guarantee
AgreementsAllcountries. Current
signatories withwhom Singapore
hasconcluded IGAs are:
ASEAN countries, France, the
Netherlands, Switzerland, the
United Kingdom, Belgo-
Luxembourg Economic Union,
SriLanka, People 'sRepublic of
China, Vietnam, Taiwan, the
United States ofAmericaIndefinite
Singapore willperiodically
review thisinthelight of
international developmentsCurrently, many countries '
obligations toprotect foreign
investments from unforeseen
contingencies aregoverned by
theprovisions established under
bilateral investment guarantee
agreements. Theagreements
alsohelptoprovide the
economic andpolitical
guarantees forthepromotion of
bilateral relations.
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Sector orsubsector Description ofmeasure
indicating itsinconsistency
with Article IICountries towhich the
measure appliesIntended duration Conditions creating theneed
fortheexemption
AllSectors:
Commonwealth Tax
Credit Scheme
Section 48oftheIncome Tax
Actprovides forthegranting of
relief against Singapore tax
payable onincome derived from
aCommonwealth countryCommonwealth countries which
grant reciprocal reliefIndefinite
Singapore willperiodically
review thisinthelight of
international developmentsThisispartofSingapore 's
cooperation among
Commonwealth members
Legal Services Allmeasures pertaining tothe
provision oflegal services in
SingaporeAllcountries Indefinite
Singapore willkeep the
possibility ofremoving this
exemption under reviewTheexemption isnecessary as
theestablishment offoreign law
firms inSingapore isbased on
case-by-case approval
Broadcasting
Broadcasting is
defined toinclude:
-Free-to-air
broadcastingTheSingapore Broadcasting
Corporation (SBC) accords
preferential broadcast and
transmission rights toselected
countries withwhich ithas
signed bilateral agreementsAllcountries. Currently,
Brunei andIndonesia have
Memoranda ofUnderstanding
withSingapore.Singapore willkeep the
possibility ofremoving this
exemption under reviewTopromote social, economic
andcultural relations
-Cable andpay
television
-Direct broadcast
bysatelliteSINGAPORE (continued)
Sector orsubsector Description ofmeasure
indicating itsinconsistency
with Article IICountries towhich the
measure appliesIntended duration Conditions creating theneed
fortheexemption
-Teletext
-Allbroadcasting
services listed in
Services Sectoral
Classification List,
MTN.GNS/W/120
Computer
reservation systemsMarket access andnational
treatment arebased on
reciprocity inmutual
concessions, butnotnecessarily
inthesame areas, asestablished
under bilateral AirServices
AgreementsAllcountries. Current countries
withwhom Singapore has
concluded bilateral airservices
agreements are:
Australia, Austria, Bahrain,
Bangladesh, Belgium, Brazil,
Brunei, Bulgaria, Cambodia,
Chile, China, Commonwealth
Independent States, Cyprus,
Czech andSlovak Republics,
Denmark, Egypt, Ethiopia, Fiji,
Finland, France, Germany,
Greece, Hong Kong, Hungary,
India, Indonesia, Iran, Iraq,
Ireland, Israel, Italy, Japan,
Jordan, Kenya, South Korea,
Kuwait, Laos, Lebanon,
Luxembourg, Madagascar,
Malaysia, Maldives, Malta,
Mauritius, Mexico, Mongolia,
Myanmar, Nauru, Nepal, the
Netherlands, New Zealand,Indefinite
Singapore willperiodically
review thisinthelight of
international developmentsCurrently, theconditions and
level ofmarket access granted in
airtransport services are
primarily governed byother
multilateral agreements and/or
bilateral airservices agreements.
Inaddition, the"Annex onAir
Transport Services" contained in
theGATS currently hasonly
limited application tomeasures
affecting theairtransport
services sector.
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Sector orsubsector Description ofmeasure
indicating itsinconsistency
with Article IICountries towhich the
measure appliesIntended duration Conditions creating theneed
fortheexemption
Nigeria, Norway, Oman,
Pakistan, Papua New Guinea,
thePhilippines, Poland,
Portugal, Qatar, Romania, Saudi
Arabia, Seychelles, South
Africa, Spain, SriLanka,
Sweden, Switzerland, Taiwan,
Tanzania, Thailand, Turkey,
Ukraine, United Arab Emirates,
theUnited Kingdom, theUnited
States ofAmerica, Vietnam,
Yemen Arab Republic,
Yugoslavia, Zambia and
Zimbabwe
Maritime Transport
Services:
-Storage and
warehousing
-Freight
forwarding
-Inland trucking
-Container station
anddepot servicesTheundertaking ofthe
commitments tobindthecurrent
level ofmarket access and
treatment toservices and
services supplier, inthe
4subsectors willbethrough the
conclusion ofbilateral shipping
agreementsAllcountries. Current countries
withwhom Singapore has
concluded bilateral shipping
agreements are: theRepublic of
Korea, thePeople 'sRepublic of
China andVietnamIndefinite
Singapore willperiodically
review thisinthelight of
international developmentsSome ofSingapore 'strading
partners donotaccord
Singapore companies
satisfactory access tomaritime
transport services intheir
territoriesSINGAPORE (continued)
Sector orsubsector Description ofmeasure
indicating itsinconsistency
with Article IICountries towhich the
measure appliesIntended duration Conditions creating theneed
fortheexemption
FINANCIAL SERVICES1
Reinsurance and
retrocessionException granted toASEAN
Reinsurance Corporation
(ASEAN Re),aprivate-sector
venture withequal shareholdings
from the6ASEAN countries, to
beestablished withapaid-up
capital ofS$6million instead of
theminimum S$10million
stipulated intheInsurance Act.
Other thanthis,ASEAN Reis
subject tothesame rules and
regulations applied toall
reinsurers inSingapore.ASEAN ASEAN Rehascommitted itself
toincrease itspaid-up capital
when itspremium income
increases. Presently, ASEAN
Rewrites arelatively small
amount ofbusiness.Topromote greater cooperation
among ASEAN inthe
reinsurance sector
Banking andother
financial servicesUnder acurrency inter-
changeability agreement between
Singapore andBrunei, the
currency-issuing authorities of
Singapore andBrunei would:Brunei Indefinite, until either country
terminates theagreementThecurrency inter-changeability
agreement wasentered into
in1967 arising from special
historical andeconomic ties
between Singapore andBrunei
1 Supplementary information provided fortransparency
TheStock Exchange ofSingapore (SES) andtheSingapore International Monetary Exchange (SIMEX) have established trading linkages withtheexchanges ofsome
countries tofacilitate thetrading ofsecurities andfutures. Theestablishment oftrading linkages isacommercial decision oftheSESandSIMEX.
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Sector orsubsector Description ofmeasure
indicating itsinconsistency
with Article IICountries towhich the
measure appliesIntended duration Conditions creating theneed
fortheexemption
-accept from banks, notes and
coins issued bytheother
issuing authority, atparand
without charge andto
exchange such notes andcoins
intothecurrency ofthe
country concerned; and
-arrange forrepatriation atthe
expense oftherespective
currency issuing authority, the
notes andcoins issued bythe
other currency issuing
authority andtoreceive atpar
theequivalent inanyagreed
currency.SINGAPORE (continued)
Sector orsubsector Description ofmeasure
indicating itsinconsistency
with Article IICountries towhich the
measure appliesIntended duration Conditions creating theneed
fortheexemption
Financial services Treatment withrespect tothe
granting ofapproval toestablish
offshore banks andmerchant
banks, toexpand existing
operations andconduct new
activities inthefinancial services
sector maybeaccorded to
service suppliers ofanother
Member inadifferentiated
manner oronthebasis of
reciprocity andatthediscretion
oftheMonetary Authority of
Singapore ortherelevant
authorityAllcountries Indefinite Toaccord differentiated
treatment toanother Member
which accords favourable
treatment toSingapore financial
institutions
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