  
  
WT/TPR/M/413/Add.1  
11 November 2021 
(21-8533) Page: 1/216 
Trade Policy Review Body  
22 and 24 September 2021  Original: English/anglais/inglés  
 
 
 
 
  
TRADE POLICY REVIEW  
SINGAPORE  
MINUTES  OF THE MEETING  
Addendum  
Chairperson: H.E. Dr. Athaliah Lesiba MOLOKOMME (Botswana)  
This document contains the advance written questions  and additional questions by WTO 
Members , and replies provided by  Singapore .1 
 
 
Organe d'examen des politiques commerciales  
22 et 24 septembre 2021  
EXAMEN DES POLITIQUES COMMERCIALES  
SINGAPOUR  
COMPTE RENDU DE LA REUNION  
Addendum  
Présidente : S.E.  Dr. Athaliah Lesiba MOLOKOMME (Botswana)  
Le présent document contient les questions écrites communiquées à l'avance par les 
Membres de l'OMC, leurs questions additionnelles, et les réponses  fournies par  Singapour .1 
 
 
Órgano de Examen de las Políticas Comerciales  
22 y 24 de septiembre de 2021  
EXAMEN DE LAS POLÍTICAS COMERCIALES  
SINGAPUR  
ACTA DE LA REUNIÓN  
Addendum  
Presidenta: Excma.  Dr. Athaliah Lesiba MOLOKOMME (Botswana)  
En el presente documento figuran las preguntas presentadas anticipadamente por es crito y 
las preguntas adicionales de los Miembros de la OMC,  así como las respues tas facilitadas por  
Singapur .1 
 
1 In English only./En anglais seulement./En inglés solamente.  WT/TPR/M/413/Add.1  
 
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  Contents  
CANADA  ................................ ................................ ................................ ..........................  3 
UNITED STATES  ................................ ................................ ................................ ............  11 
AUSTRALIA  ................................ ................................ ................................ ...................  21 
MEXICO  ................................ ................................ ................................ .........................  29 
KOREA,  REPUBLIC OF  ................................ ................................ ................................ .... 36 
EUROPEAN UNION  ................................ ................................ ................................ ........  41 
MALAYSIA  ................................ ................................ ................................ .....................  57 
UNITED KINGDOM  ................................ ................................ ................................ .........  82 
PHILIPPINES  ................................ ................................ ................................ ................  93 
HONG KONG, CHINA  ................................ ................................ ................................ .... 106  
COSTA RICA  ................................ ................................ ................................ ................  111  
OMAN  ................................ ................................ ................................ ..........................  120 
CHILE  ................................ ................................ ................................ ..........................  121  
CHINA  ................................ ................................ ................................ .........................  127  
ICELAND  ................................ ................................ ................................ .....................  139  
BRAZIL  ................................ ................................ ................................ ........................  140  
CHINESE TAIPEI  ................................ ................................ ................................ .........  162  
THAILAND  ................................ ................................ ................................ ...................  168  
INDIA  ................................ ................................ ................................ .........................  183  
JAPAN  ................................ ................................ ................................ .........................  199  
TURKEY  ................................ ................................ ................................ .......................  200  
BANGLADESH  ................................ ................................ ................................ ..............  203  
INDONESIA  ................................ ................................ ................................ .................  204  
SAUDI ARABIA  ................................ ................................ ................................ ............  207  
COLOMBIA  ................................ ................................ ................................ ..................  211  
KAZAKHSTAN  ................................ ................................ ................................ ..............  215  
 
__________WT/TPR/M/413/Add.1  
 
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  CANADA  
Secretariat Report – Singapore (WT/TPR/S/413)  
Page 9, paragraph 18  
The report provides that "Numerous tax and non -tax incentives are provided to assist Singapore -
based companies. Generally, incentives are aimed to encourage companies to expand production 
and investment, adopt new technologies and invest in R&D and training, or to support SMEs and 
start-ups. Some incentives are targeted to specific industr ies or activities, such as financial services, 
tourism, shipping and maritime services, and headquarters activities. Most of the incentive schemes 
reported at the time of the last Review remain in place; a few new incentives have been introduced, 
such as t he Intellectual Property Development Incentive, announced in 2017 to encourage the use 
of IP arising from R&D. The authorities conduct regular reviews of the incentive programmes. 
However, information on budgetary outlays or on the economic costs (revenue forgone) related to 
incentives is not publicly available. Singapore has notified the WTO that it does not maintain any 
subsidy notifiable under the Agreement on Subsidies and Countervailing Measures".  
Question 1: Does Singapore collect sex -disaggregated da ta on the SMEs who have 
received tax and non -tax incentives?  
Response 1:  Singapore does not collect sex -disaggregated data on the SMEs who have received 
tax and non -tax incentives.  
Question 2:  If yes, can Singapore provide the percentage of women -owned bus inesses 
who have received assistance from these incentive programmes?  
Response 2:  Singapore does not collect sex -disaggregated data on the SMEs who have received 
tax and non -tax incentives.  
Page 10, paragraph 25  
The report states that "While Singapore's to tal energy supply grew during the period under review, 
its CO2 emissions started to decline in absolute terms as at 2017. Singapore revised its energy 
efficiency legislation and standards in 2017 and introduced a tax on greenhouse gas emissions in 
2019. Bo th the industrial and the consumer electricity markets are fully liberalized and unbundled; 
during the review period, the retail electricity market was liberalized. Foreign investment is allowed 
in energy sector".  
Question 3:  Has Singapore studied whether the steps taken to revise the energy efficiency 
legislation and standards in 2017 and to introduce a tax on greenhouse gas emissions in 
2019 influenced the competitiveness of energy products in terms of costs to consumers, 
and if so, could Singapore share its analysis and methodology?  
Response 3:  We recognise the importance of considerations on cost and competitiveness. The 
revision in energy efficiency legislation and standards in 2017 under the Energy Conservation 
Act  (ECA) involved extensive public cons ultations. During these consultations, the lifecycle / energy 
cost savings arising from the introduction of Minimum Energy Efficiency Standards (MEES) for 
water -cooled chilled water systems (WCCWS), and Minimum Energy Performance Standards (MEPS) 
for appli ances were assessed/studied and explained to stakeholders. As all the measures are 
expected to bring about lifecycle cost savings for consumers, there was widespread acceptance of 
the overall benefits of these measures (i.e. both economic and environmental ). The analysis was 
straightforward and based simply on the reduced electricity consumption of switching to more 
efficient WCCWS and household appliances.  
Page 14, paragraph 1.7  
The report provides that to address certain medium -term challenges, "Singapore  embarked on a 
reform agenda of economic transformation based on the recommendations issued by the Committee 
on the Future Economy (CFE) in 2017. The goal is to build a value -creating economy that is open 
and connected to the world, by building skills and capabilities and supporting innovation and WT/TPR/M/413/Add.1  
 
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  digitalization. The new economy is expected to offer meaningful job opportunities and sustainable 
wage growth to all Singaporeans. To achieve this vision, the CFE identified seven strategies, 
including the develop ment and implementation of Industry Transformation Maps to promote growth 
and competitiveness in 23 economic sectors (manufacturing and services), which cover about 80% 
of Singapore's GDP (Section 4). In the same vein, a number of incentive schemes have be en 
implemented for individuals and businesses to promote automation and the adoption of new 
technologies".  
Question 4: Could Singapore please elaborate on how has the economic reform agenda 
provided increased employment opportunities for women, including w omen with 
disabilities?  
Response 4:  The strategies under the Committee on the Future Economy are intended to cover 
businesses owners and workers of different demographics, and aim to support them in different 
areas, such as increasing productivity and inte rnationalisation. For example, the strategy to 
help SMEs adopt digital technologies and build strong digital capabilities benefit women 
entrepreneurs and women -owned businesses, amongst others.  
Question 5:  How are the unique women entrepreneurs/women -owned businesses 
accounted for in these programs, such as building skills and capabilities to support the 
adoption of new technologies?  
Response 5:  The strategies under the Committee on the Future Economy are intended to cover 
businesse s owners and workers of different demographics, and aim to support them in different 
areas, such as increasing productivity and internationalisation. For example, the strategy to help 
SMEs adopt digital technologies and build strong digital capabilities be nefit women entrepreneurs 
and women -owned businesses, amongst others.  
Question 6: Do all of the seven strategies identified by the CFE consider women workers 
or business owners?  
Response 6:  The strategies under the Committee on the Future Economy are inten ded to cover 
businesses owners and workers of different demographics, and aim to support them in different 
areas, such as increasing productivity and internationalisation. For example, the strategy to 
help SMEs adopt digital technologies and build strong d igital capabilities benefit women 
entrepreneurs and women -owned businesses, amongst others.  
Page 55, paragraph 3.43  
The report provides that "Given the limited size of its domestic market, Singapore considers the 
expansion of overseas markets an essential element of its overall policy of encouraging enterprise 
development. Enterprise Singapore (ESG), a statutory board created in April 2018 from the merger 
of International Enterprise Singapore and SPRING Singapore, is today the sole agency responsible 
for th e promotion of Singapore -based enterprises. ESG supports all types of businesses, from start -
ups to small and medium -sized enterprises (SMEs) and high -growth companies, while at the same 
time adopting a company -centric approach tailored to individual compa nies' needs. ESG helps 
companies to upgrade capabilities, innovate, and internationalize. It also promotes the growth of 
Singapore as a global trading hub".  
Question 7: What are some of the barriers that women face when participating in overseas 
enterprise  development?  
Response 7:  As the lead government agency championing enterprise development, Enterprise 
Singapore (ESG) helps companies, including businesses owned by female entrepreneurs. Some of 
the barriers that enterprises, including those owned by fema le entrepreneurs, face when 
internationalising include the need to build up capabilities and access to:  
1) organisational/process readiness, product/service readiness and a go -to-market strategy  
2) market knowledge, including the market size, operating con ditions, 
manpower/regulatory/licensing/standards requirements  WT/TPR/M/413/Add.1  
 
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  3) talent to support internationalisation efforts  
4) financing (e.g. certain sectors/ geographical coverage of financing institutions)  
Question 8: Can Singapore provide data on the progress/achievements that Enterprise 
Singapore (ESG) has made in supporting women -owned businesses, including 
women -owned SMEs?  
Response 8:  Enterprise Singapore (ESG) helps companies of all sizes and at different stages of 
growth to upgrade, innovate, tr ansform, adopt new technologies, improve productivity and expand 
overseas, including women -owned businesses.  
In 2020, despite COVID -19, ESG supported 15,300 enterprises to raise productivity, enhance 
innovation and pursue internationalisation.  
Page 69, par agraph 3.127  
With respect to surface transport services (i.e. road and rail), the report provides that "Fares for 
public transport services (bus and railway) are regulated by the Public Transport Council to ensure 
a sustainable and affordable public transp ort system".  
Question 9: Can Singapore confirm if there are any sector -specific requirements or 
restrictions on foreign participation in the supply of passenger, or freight, surface 
transport services (road and rail)?  
Response 9:  Foreign participation in t he land transport sector is subject to prevailing laws and 
regulations, which includes the setting of licensing conditions on foreign shareholdings for operators 
of a rapid transit system.  
Question 10: Does Singapore maintain any restrictions on the abilit y of foreign entities to 
establish and provide cabotage services (i.e. transportation of goods or passengers 
between two points in the same territory) in the surface transport sector (road and rail)?  
Response 10:  Entities providing transport services are s ubject to prevailing laws and regulations, 
which includes not keeping or using foreign -registered vehicles in the provision of such services.  
Page 70, paragraph 3.135  
The report provides that "The total value of procurement contracts awarded annually by the 
Government of Singapore (excluding the classified purchases of the Ministry of Defence) ranged 
between SGD 26.6 billion and SGD 40.7 billion in the period 2015 -19, representing 5.9% to 8.5% 
of Singapore's GDP (Table 3.10). According to the authorities, during the same period, open 
tendering procedures were used for 80% of the contracts awarded each year, which made up around 
90% of total contract value. SMEs have been relatively successful in participating in government 
procurement, as they secured more than 75% of the contracts awarded in the period 2015 -19, 
accounting for around 40% of the contract value".  
Question 11: Could Singapore please indicate what percentage of SMEs participating in 
government procurement who secured contracts betwe en 2015 -19 were women -owned?  
Response 11:  We do not specifically track the gender of the owners of businesses (which includes 
SMEs) that are awarded government contracts.  
Tenders submitted by all suppliers, are evaluated against evaluation criteria stated  in tender 
documentation. Bids that are best able to meet requirements or outcomes, and offer best value for 
money, are awarded.  WT/TPR/M/413/Add.1  
 
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  Page 76, paragraph 3.157  
The Secretariat Report outlines Singapore's new SG IP Fast Track programme, which is part of IPOS' 
plan to promote innovation and intellectual property (IP) commercialization by reducing application 
pendency periods.  
Question 12: Has the Intellectual Property Office of Singapore (IPOS) gathered any 
preliminary data or received any feedback from stakeholder s on the efficacy of this 
initiative?  
Response 12 : The demand for patent acceleration under SG IP FAST is close to hitting the annual 
cap for the first year. As of July 2021, the time taken from file to grant for these requests has been 
5.8 months. This ex cludes time taken by applicant to request for certificate of grant after receiving 
a notice of eligibility from IPOS. Applicants have up to 2 months to file this request for certificate of 
grant.  
We have yet to receive any Fast Track acceleration requests for related trademark and registered 
design applications.  
Page 80, paragraph 3.180  
Per the Secretariat Report, illicit streaming devices (ISDs) are openly sold at retail outlets in 
Singapore and are subject to legal uncertainty. As such the Government inte nds to introduce 
legislation to make it an offence to sell them.  
Question 13: Can Singapore elaborate on whether the Government has made any further 
progress on its planned legislation regarding ISDs?  
Response 13:  A new right of action has been introduced to allow rights -holders to sue those who 
knowingly commercially deal in illicit streaming devices (ISDs), or with services that primarily 
facilitate access to copyright infringing works.  
The new provision can be found at clauses 150 and 445(b) of the Copyr ight Bill introduced in 
Parliament on 6 July 2021, incorporating feedback received during the public consultation exercise 
earlier in 2021 on the draft of the Bill. We expect that the new Bill will be passed and enter into force 
in November 2021.  
(https://www.parliament.gov.sg/docs/default -source/default -document -library/copyright -bill-17-
2021.pdf ) 
Page 81, paragraph 3.182  
The Secretariat Re port indicates that in 2016, IPOS launched a mediation promotion scheme in an 
effort to make it both easier and more cost -efficient to enforce IP rights and related agreements, 
and enhanced and extended that scheme in 2019.  
Question 14: Can Singapore provide more information on how it enhanced and extended 
its mediation promotion scheme in 2019 as well as any information on results achieved 
by the scheme since its launch in 2016?  
Response 14:  original mediation promotion scheme was enhanced a nd extended in 2019 in the 
following ways:  
(i) The level of funding was increased from a maximum of S$5,500 per case to a maximum of 
S$12,000 per case.  
(ii) Parties can now additionally apply the funding in respect of mediation -related agent fees and 
disbu rsements. This was not the case in the earlier scheme where the funding could only be applied 
to the mediation service provider's administration fees and the mediator fees.  
Some of the successful cases utilising the Enhance Mediation Promotion Scheme (EMPS ) are found 
at: WT/TPR/M/413/Add.1  
 
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  https://www.ipos.gov.sg/docs/default -source/protecting -your-ideas/hearings -
mediation/mediation -at-ipos-(emps). pdf. 
Page 94, paragraph 4.61 and table 4.6  
The report provides that "Table 4.6 describes the types of banking licences under the present 
Singaporean legislation".  
Question 15: Has Singapore allowed any foreign banks Qualified Full Bank privileges 
since  2018, and does Singapore have plans to revise this policy in the future?  
Response 15:  Singapore had committed to grant Qualifying Full Bank (QFB) privileges to one 
additional Chinese bank as part of the 2018 CSFTA upgrade protocol. New QFB  privileges are 
awarded under FTAs where there are substantial benefits to Singapore. The continued evolution of 
Singapore's QFB framework is aimed at allowing QFB banks to build a deeper presence and be better 
rooted in Singapore. Singapore does not precl ude further liberalisation measures in a way that 
continues to strengthen our banking sector whilst maintaining confidence and stability in the financial 
system.  
Page 97, paragraph 4.75  
The Report provides that, in terms of insurance, "There is no differe ntial treatment for foreigners in 
the licensing process and no limitation on the number of providers".  
Question 16: Does Singapore have plans to liberalize its GATS commitments regarding 
financial services?  
Response 16:  As a free and open economy, Singapor e is a strong supporter of the WTO. We will 
continue to participate actively in WTO negotiations, including working with all Members to liberalise 
their GATS financial services commitments. We are prepared to consider making meaningful 
commitments, after t aking into consideration the overall level of ambition proposed by our key 
markets.  
Page 110, paragraph 4.154  
The Report provides that "From a regulatory point of view, the regime of air transport services 
remained largely unchanged during the review perio d. The regulator of the sector is the CAAS. The 
responsibilities of the CAAS are to enable the growth of the air hub and aviation industry, oversee 
and promote aviation safety in the industry in line with ICAO Standards and Recommended Practices, 
provide a ir navigation services, and develop Singapore as a centre of excellence for aviation 
knowledge and human resource development".  
Question 17: Does Singapore allow the cross -border supply of specialty air services (i.e. 
air services whose primary purpose is not the transportation of goods or passengers), and 
if so, under what conditions?  
Response 17:  Any foreign operator who wishes to operate an aircraft into or out of Singapore for 
the purpose of aerial work (i.e specialty air services), must do so in accord ance with the conditions 
of a valid operations permit, pursuant to the Air Navigation Order, Regulation 87A.  
Government Report – Singapore (WT/TPR/G/413)  
Page 3, paragraph 1.3  
It is noted that one of the four pillars of Singapore's trade policy is promotin g an inclusive and 
sustainable trade policy.  
Question 18: Could Singapore elaborate on how it is promoting an inclusive and 
sustainable trade policy through its recently concluded and ongoing FTAs, including 
through the recently concluded Pacific Alliance -Singapore FTA?  WT/TPR/M/413/Add.1  
 
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  Response 18:  Inclusive and sustainable growth is a key objective for Singapore – our economic 
strategies must generate social mobility, raise real incomes, and improve living standards for 
Singaporeans. Domestic policies must work in tandem with an open trade policy, to help those who 
are displaced or disadvantaged to be able to move into new areas and to benefit from an evolving 
global economy.  
In this context, Singapore's network of 26 FTAs helps companies in Singapore to access regional 
markets. We have FTAs with chapters on e -commerce and SMEs. These newer provisions help to 
update rules in traditional areas and level the playing field for small companies.  
For the Pacific Alliance -Singapore Free Trade Agreement (PASFTA), it is overall an  inclusive 
agreement covering various stakeholders, fostering sustainable trade and economic relations with 
the Pacific Alliance. The PASFTA builds on the WTO and augments the rules -based multilateral 
trading system. The Agreement caters to today's busines s needs and contemporary realities. It 
enables businesses to access opportunities in our respective markets, and fosters greater 
cooperation in areas such as e -commerce, and customs and trade facilitation. There are a number 
of chapters that complement the  traditional areas of trade in goods, services, and investment. Some 
examples are the chapters relating to the promotion of SMEs, good regulatory practices for trade 
and investment, and e -commerce.  
Singapore is also looking into green economy agreements as  we believe that sustainability must be 
mainstreamed into economic activities to achieve emission reductions, while supporting prospects 
for new green capabilities like green financing, carbon services, and low -carbon solutions. In so 
doing, we believe tha t the benefits would be significant, including strengthening environmental 
governance, developing new global capacity to address climate change, as well as creating good 
jobs in green growth sectors.  
Page 10, paragraph 3.8  
It is noted that "Singapore is co mmitted to working with other countries and regions, and through 
multilateral forums, to reopen borders safely and gradually, ensuring processes and infrastructure 
meet public health requirements to safely handle air travellers, and to position Singapore a s a safe 
destination".  
Question 19: Could Singapore please elaborate on efforts, on -going or in development, 
that seek to facilitate a return to the cross -border movement of business persons?  
Response 19 : With our domestic COVID -19 situation stabilising and our vaccination rate rising, 
Singapore will progressively relax our border measures in a safe and calibrated manner to facilitate 
more inbound travel from more countries/regions. Some of these measures include: (i)  resuming 
entry approvals for work pass holders and their dependants who have been fully vaccinated; 
(ii) launching vaccinated travel lanes for vaccinated travellers without a need for quarantine from a 
few countries for a start, on a pilot basis; and (iii) allowing fully vaccinated travellers from lower -
risk cou ntries to serve shorter quarantine durations or from their choice of accommodation, subject 
to regular testing and other health protocols.  
Page 11, paragraph 3.13  
It is noted that Singapore launched the Zero Waste Masterplan in 2019 which maps out Singapor e's 
key strategies to build a sustainable, resource -efficient and climate -resilient nation.  
Question 20: Could Singapore elaborate on whether the Zero Waste Masterplan includes 
strategies related to trade and the circular economy?  
Response 20:  The Zero Wa ste Masterplan sets out Singapore's aspiration to adopt a circular 
economy approach towards a zero waste nation.  
This transition to a circular economy presents opportunities in international trade. For example, 
Singapore welcomes partnerships with differe nt stakeholders, including the international business 
community, to bring in the necessary expertise to the local market. The legitimate trade of 
recyclables also presents economic opportunities for our local recycling companies, as they are able WT/TPR/M/413/Add.1  
 
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  to import  recyclables (e.g. e -waste) and recover valuable resources from them in an 
environmentally -sound manner . 
As part of our Environmental Services Industry Transformation Map, we have set out strategies to 
help our companies internationalise and become globall y competitive and seize opportunities in 
global markets for specialised waste treatment, recycling and remanufacturing.  
Page 14, paragraph 6.4  
It is noted that Singapore is exploring Green Economy Agreements (GEAs) with like -minded trading 
partners to faci litate investment in environmental goods and services, strengthen environmental 
governance, and enhance capacity to address climate change.  
Question 21: Could Singapore please provide further information on the functioning of 
GEAs? Are GEAs eventually goin g to be merged with Singapore's traditional FTA model?  
Response 21:  The eventual form and function of the GEA will likely be dependent on the partner 
whom Singapore is negotiating the GEA with.  
Question 22: Could Singapore share a model text of a GEA?  
Resp onse 22 : Singapore is unable to share a model text as discussions on a GEA are preliminary 
at this time.  
Question 23: Could Singapore provide more information on the partners with which it is 
currently negotiating GEAs? Has there been a completed GEA negot iations?  
Response 23:  Singapore is currently exploring a Green Economy Agreement with Australia, with 
discussions at a preliminary stage.  
Page 15, paragraph 6.14  
It is stated that "Singapore also updated and upgraded four FTAs, namely: (i) the Agreement 
between New Zealand and Singapore on a Closer Economic Partnership (ANZSCEP); (ii) the 
Singapore -Australia FTA (SAFTA); (iii) the United States -Singapore FTA (USSFTA); and (iv) the 
India-Singapore Comprehensive Economic Cooperation Agreement (CEC A)". 
Question 24: Subsequent to the entry into force of the CPTPP on December 30, 2018, 
Singapore modernized trade agreements with some CPTPP Parties 
(i.e. the New Zealand -Singapore Enhanced Partnership, and Singapore -Australia FTA). 
What benefits does Sin gapore enjoy from updating these trade agreements when 
compared to the CPTPP?  
Response 24 : The upgraded Singapore -New Zealand FTA or the Agreement between New Zealand 
and Singapore on Closer Economic Partnership (ANZSCEP) entered into force on 1  January  2020, 
while the upgraded Singapore -Australia FTA (SAFTA) entered into force on 1 December 2017, before 
the CPTPP.  
The upgraded ANZSCEP improves on the CPTPP in the following areas:  
• The Sanitary and Phytosanitary Measures (SPS) chapter includes additional I mplementing 
Arrangements (IAs) that allow food exporters from both sides to further benefit from improved 
market access and expedited clearance of their exports. The IAs also enhance transparency of 
SPS regulations, which provides greater certainty for exp orters and enables them to better comply 
with the SPS requirements from both parties.  
• Under the Customs Procedures and Trade Facilitation chapter, both parties committed to have 
goods that reach Singapore and New Zealand's borders to be released within 2 4 hours or arrival and 
express consignments within 4 hours of submission of customs documentation to the respective 
customs authorities.  WT/TPR/M/413/Add.1  
 
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  • Under the ambit of the ANZSCEP, Singapore and New Zealand also concluded a Mutual 
Recognition Agreement (MRA) on Conf ormity Assessment and a MRA on Good Manufacturing Practice 
(GMP) inspections of manufacturers of medicinal products. The former MRA provides a framework 
for negotiation of other sectoral MRAs, while the latter MRA reduces duplicative GMP inspections.  
The u pgraded ANZSCEP also contains forward -looking provisions on cooperation in Logistics and E -
invoicing, specifically in the sharing of best practices in both areas, as well as and encouraging 
mutual recognition and interoperability between Singapore and New Zealand's e -invoicing systems  WT/TPR/M/413/Add.1  
 
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  UNITED STATES  
Part I. Secretariat Report (WT/TPR/S/413)  
SUMMARY  
Page 7, paragraph 3:  Reference is made here to a "sanitary crisis".  
1. Please provide additional context for what is meant by "sanitary crisis".  
Response 1 : The WTO Secretariat will change the mention of "sanitary crisis" to "health crisis" in 
the Secretariat Report.  
Page 7, paragraph 4:  In 2020, the Monetary Authority of Singapore eased monetary policy in 
response to "the crisis".  
2. Please clarify what crisis prompted this action by the Monetary Authority of 
Singapore.  
Response 2:  In 2020, following the onset COVID -19, Singapore experienced  its deepest recession 
since independence in 1965. This was notwithstanding Singapore's significant fis cal response, which 
in relation to GDP, was one of the largest in the world. Around two -thirds of the S$64.9 billion fiscal 
deficit (13.8% of GDP) was financed by reserves accumulated through past budget surpluses.  
As COVID -19 began to spread in early 2020  and eventually escalated into a global pandemic, the 
collapse in both domestic and external demand brought about a sharp contraction in the Singapore 
economy. The severe impact reflected the economy's high trade dependency, even as domestic 
consumption wa s also curtailed by public health measures. Singapore's inflation fell sharply, turning 
negative for 12 months.  
In Singapore, the monetary policy framework is centred on managing the Singapore dollar nominal 
effective exchange rate (S$NEER) within a policy  band, with the sole purpose of maintaining medium 
term price stability.  
Against the economic crisis caused by the pandemic, the S$NEER depreciated within the then -
upward sloping (appreciating) policy band in Q1 2020. Subsequently, in its April Monetary Po licy 
Statement, MAS eased its monetary policy settings by shifting to a zero per cent rate appreciation 
of the S$NEER policy band, starting from the then -prevailing level of the exchange rate. This affirmed 
that the lower level of the S$NEER was an appropr iate and necessary downward adjustment of the 
exchange rate towards its lower short -run equilibrium level, in light of the deflationary pressures in 
the economy. The measured adjustment in the monetary policy stance took into account the fact 
that fiscal p olicy, rather than monetary policy, would provide the primary support to the economy, 
given the simultaneous shock to both demand and supply posed by COVID -19. MAS kept the policy 
stance unchanged in the subsequent monetary policy statements in October 202 0 and April  2021. 
The IMF in its 2021 Article IV report on Singapore noted that the accommodative policy stance was 
appropriate, and it should remain as such until the recovery is firmly entrenched.  
The accommodative monetary policy stance had helped to prevent a sharper retraction in output, 
wages and prices in the Singapore economy. Keeping the S$NEER on a stable path, and preventing 
further sharp or sudden depreciation of the currency, had also hel ped to underpin confidence in the 
Singapore economy during the crisis.  
Page 8, paragraph 10:  The report notes that Singapore considers free trade agreements to be a 
complement to multilateral trade agreements.  
3. What expected impact will Singapore's existing  Digital Economy Agreements and 
the Regional Comprehensive Economic Partnership (RCEP) have on Singapore's trade 
regime? The United States recognizes that RCEP has not yet been ratified by all signatories 
and the digital economy agreements have all just be en recently signed or implemented  WT/TPR/M/413/Add.1  
 
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  Response 3:  Singapore's Digital Economy Agreements (DEAs) aim to augment Singapore's trade 
regime. They seek to expand as well as deepen our engagement with partners on issues related to 
digital economy including in emergi ng areas like digital identities, Artificial Intelligence as well as 
more traditional trade issues such as paperless trade. These agreements allow Singapore and our 
partners to  
(i) strengthen trade rules where they already exist; and  
(ii) explore more cust omised collaborations in emerging digital areas.  
The RCEP will broaden and deepen Singapore's economic linkages and connectivity with 
RCEP Participating Countries. The RCEP covers about 30% of global GDP (US$26 trillion) and 
connects about third of the wor ld's population. In addition to the traditional areas, the RCEP 
Agreement comprises 20 Chapters, including new areas such as Intellectual Property, Competition 
Policy, e -Commerce, Government Procurement and SMEs, all of which would benefit businesses in 
Singapore and our partners in RCEP.  
Page 9, paragraph 17: The Secretariat Report notes that under the Global Trader program, 
companies receive a reduced corporate tax rate on income from international trading activity.  
4. Please explain how Singapore implements  this program in a manner consistent with 
its obligations under the Agreement on Subsidies and Countervailing Measures (SCM 
Agreement)?  
Response 4 : The Global Trader Programme (GTP) is open to both all local and foreign companies. 
Companies which have been  awarded the GTP are from different sectors and trade a broad range of 
products. To be awarded the GTP, a company must meet the conditions established for the 
programme. Such conditions do not include the applicant's export performance or local content 
requirements.  
5. Why has Singapore not notified this program to the Committee on Subsidies and 
Countervailing Measures?  
Response 5:  Singapore does not consider the Global Trader Programme to be notifiable to the 
WTO SCM Committee, as it is available to companies in Singapore across different sectors, and open 
to both local and foreign companies. It is also not contingent on export performance or local content 
requirements.  
Page 9, paragraph 18: The Secretariat Report discusses several tax and non -tax inc entive 
programs but notes that Singapore "has notified the WTO that it does not maintain any subsidy 
notifiable under the Agreement on Subsidies and Countervailing Measures".  
6. Please explain why Singapore does not believe that these incentive programs are 
subject to notification under the SCM agreement.  
Response 6:  Singapore does not consider these programmes to be notifiable under the SCM 
Agreement. These programmes include those offered to service providers. They are not contingent 
on a company's export performance or local content requirements and they are available to 
companies in Singapore across different sectors, and open to both local and foreign companies.  
1 ECONOMIC ENVIRONMENT  
1.2 Recent Economic Developments  
1.2.1 Fiscal Policy and Debt  
Page 15, paragraph 1.9:   
7. How long does the Government of Singapore anticipate being able to maintain the 
current sustained GDP deficit?  
Response 7:  The Government incurred significant deficits in Financial Years 2020 and a smaller 
deficit in 2021. In total,  we expect to draw up to S$53.7 billion (more than 10% of WT/TPR/M/413/Add.1  
 
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  Singapore's  annual  GDP) from reserves to fund the deficits. We hope to return to running balanced 
budgets as the economy recovers and economic relief measures progressively taper.  
It is a careful balance, as the global and local economic situation is still fraught with unce rtainty. 
Virus infection is still climbing in the region.  
If the situation worsens significantly, we are prepared to draw on our Reserves to support our people 
and the economy, and will seek the President's support to do so.  
8. What are Singapore's plans for protecting its reserves for the future to maintain 
economic stability?  
Response 8 : The reserves are a strategic asset for Singapore, and provide a key defence for the 
country in times of crisis. In safeguarding our reserves, Singapore will continue to mai ntain a 
disciplined fiscal strategy and is committed to running a balanced budget over each term of 
government barring major crisis. In addition, the Constitution protects the reserves accumulated 
during previous terms of government (referred to as Past Re serves). The President's approval is 
required for a draw on Past Reserves.  
Page 15, paragraph 1.10 : With regard to fiscal policy, the report notes that the Singapore 
Government's overall balance, as a percentage of GDP, registered a small surplus during th e period 
2016-19. 
9. Why is the fiscal surplus characterized as small, given that it is still one of the 
highest in the world?  
Response 9:  Over a medium -term horizon of 20 years (Financial Years 2000 to 2019), Singapore's 
overall fiscal position averaged at 0.5% of GDP. If Financial Year 2020 was included, the overall 
fiscal position would average at 0.0% of GDP.  
Under Singapore's constitutional rules, the Government of Singapore has to maintain a balanced 
budget over a term of government. This is because as a small country with no natural resources, 
recurring deficit will erode confidence in our ability to deal with challenges and crisis.  
That said, we expect the fiscal picture to tighten considerably in coming years. Ageing population 
and rising healthcare c ost will lead to at least another 0.8% GDP or more in recurrent expenditure. 
We are also investing in significant infrastructure, especially green transport modes, leading to an 
additional 1% GDP in spending on infrastructure.  
1.2 Recent Economic Developments  
1.2.4 Balance of Payment  
Page 21, Section 1.27: The report notes that foreign official reserves held by MAS are 
USD 362 billion.  
10. What is the value of other assets managed by GIC and Temasek?  
Response 10 : As of 31 March 2021, Temasek's net portfolio value was S$381 billion. More 
information on Temasek is published online in the Temasek Review 
(http://www.temasekreview.com.sg/ ). 
GIC manages well over US$100 billion. The size of the Government's  funds managed by GIC is not 
published.  
1.2 Recent Economic Developments  
1.2.4 Balance of Payments  
Page 21, paragraph 1.27 : The United States notes the misspelling here. It should be GIC Pte 
Limited.  WT/TPR/M/413/Add.1  
 
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  2 TRADE AND INVESTMENT REGIMES  
2.3 Trade Agreements and Arrangements  
2.3.2 Regional and Preferential Agreements  
Page 36, paragraph 2.34:  The report notes that the Singapore -EU FTA includes commitments on 
the reduction of duplicative testing and certification procedures.  
11. Please elaborate on these  commitments on duplicative testing and certification 
procedures. For example, what specific products or sectors do they affect?  
Response 11 : Examples of the commitments to reduce duplicative testing and certification 
procedures under the EU -Singapore FTA are as follows:  
(i) For electronics products, Parties committed in Annex 4 -A to the use of a supplier's declaration of 
conformity and/or post -market surveillance mechanisms instead of mandatory third -party 
conformity assessments for a selected list of elec tronics products.  
(ii) For motor vehicles and parts, Singapore committed in Annex 2 -B to accept new EU vehicles 
which have never been registered before worldwide, as complying with our domestic technical 
regulations and conformity assessment procedures, wi thout further testing or marking requirements 
to verify or attest compliance with requirements covered by an EU or United Nations Economic 
Commission for Europe (UNECE) type -approval.  
(iii) In the Chapter on SPS (Articles 5.8 and 5.9) and Annex 5B (Require ments and Provisions for 
Approval of Establishments for Products of Animal Origin), both the EU and Singapore committed to 
verify the exporting Party's inspection and certification system for meat -producing establishments, 
so that inspection of individual abattoir / food processing plants for companies to export their goods 
will not be required.  
3 TRADE POLICIES AND PRACTICES BY MEASURE  
3.1 Measures Directly Affecting Exports  
3.1.1.2 Trade Facilitation  
Page 42, paragraph 3.6: The Secretariat Report states t hat Singapore notified all the 
TFA provisions under its Category A commitments, meaning that it has implemented them since the 
entry into force of the TFA (22 February 2017). Singapore's transparency notifications have not been 
updated since entry into for ce of the agreement, and many of the links meant to provide key 
information to domestic and foreign exporters no longer lead to the correct page.  
12. We ask Singapore to review its TFA transparency notifications (articles 1.4, 10.4.3, 
10.6.2 and 12.2.2) submi ssions for broken links. By when will Singapore do this, and 
provide updated notifications with accurate links?  
Response 12:  Singapore has submitted a revised notification (G/TFA/N/SGP/1/Rev.1) containing 
the updated website links.  
3.3 Measures Affecting Production and Trade  
3.3.3 Sanitary and phytosanitary (SPS) requirements  
3.3.3.4 Food Labelling  
Page 66, paragraph 3.109: Singapore states, "Apart from the above general requirements, 
specific labelling requirements may apply to certain prepacked foods. That is the case, for example, 
of 19 groups of food products included in the Second Schedule of the Food Regulations, which mus t 
bear the expiry dates on their labels. In another example, labels for bottled natural mineral water 
and spring water are required to indicate the source of the water, the analytical composition giving 
the water its characteristics, and advisory statement s relating to sulphate and fluoride content".  
13. Please confirm that these labeling  requirements are consistent with existing criteria 
and guidelines of international standard setting bodies, such as OIE, IPPC and Codex 
Alimentarius.  WT/TPR/M/413/Add.1  
 
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  Response 13 : When reviewing the labelling requirements for prepacked food, Singapore takes 
reference from  the international food standards established by the Codex Alimentarius Commission 
("Codex").  
The list of food products under the Second Schedule of the Food Regulations must bear date marking, 
were identified on the basis that the lack of date marking may  compromise food safety.  
This principle is consistent with Codex's principles on food to be date marked. Singapore is in the 
process of reviewing the list following Codex's amendments on date marking which were adopted 
by the CAC in 2018.  
3.3.2 Standards a nd other technical requirements  
3.3.2.3 Conformity Assessment  
Page 61, paragraph 3.80:  This paragraph addresses designation of conformity assessment bodies 
by ESG.  
14. Can foreign conformity assessment bodies operate in the Singapore market?  
Response 14 : Forei gn conformity assessment bodies can apply to operate in Singapore, as long as 
they have been accredited by Enterprise Singapore (ESG) as either a product certification body 
(ISO/IEC 17065) or a product testing body (ISO/IEC 17025).  
3.3.7 Intellectual Prope rty Rights  
3.3.7.9 Copyright  
Page 79, paragraph 3.175:  The Secretariat Report notes that the Ministry of Law and IPOS issued 
a comprehensive review of Singapore's copyright regime in 2019, and that the report recommended 
significant changes and that the dr aft bill was released for public feedback in February 2021.  
15. The United States understands that the bill is currently with Parliament. Please 
provide additional information on next steps.  
Response 15:  The next steps will involve Parliament debating and voti ng on the Bill in 
September  2021. If it is passed, it will be sent for Presidential assent. Thereafter, most of the 
provisions of the Bill are planned to take effect in November 2021.  
4 TRADE POLICIES BY SECTOR  
4.4 Services  
4.4.3 Air Transport  
Page  111, Overview of airlines 2019 -20, Table 4.17   
16. Is 2021 data available for currently operating city -pairs (destinations) by airlines 
serviced?  
Response 16 : For the week starting from 16 August 2021 to 22 August 2021, Singapore was 
connected to 72 cities by 73 airlines operating scheduled services.  
Part II. U.S. Questions based on the Government Report (WT/TPR/G/413)  
2 RESPONDING TO THE COVID -19 PANDEMIC  
Impact of COVID -19 on Singapore's Economy  
Page 4, paragraph 2.8:  This section of the report explains the econ omic impact of the COVID -19 
pandemic on Singapore's economy.  WT/TPR/M/413/Add.1  
 
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  17. What is the projected economic impact of the COVID -19 pandemic for CY 2021 Q2 
given that increased health measures will continue to limit in -person business activities 
and consumption?  
Response 1 7: The tightening of public health measures in the second quarter of 2021 had adversely 
affected the recovery of sectors such as retail trade, food and beverage services, land transport, and 
arts, entertainment and recreation.  
However, the overall impact of t he tightened measures on GDP was modest, since most economic 
activities were able to continue to operate with safe management measures in place.  
3 ECONOMIC OUTLOOK AND NAVIGATING RECOVERY  
3.3 Becoming a Bright Green Spark  
Page 11, paragraph 3.12:  This para graph describes Singapore's efforts to create a green finance 
ecosystem.  
18. Please elaborate on Singapore's plans to measure the "impact of green and 
sustainable projects" under Project Greenprint.  
Response 18:  Project Greenprint aims to work with the industr y to identify horizontal industry -wide 
enablers and vertical sector -specific use cases where technology can help to mobilise capital for 
green projects, monitor commitments to emissions reductions, and quantify the impact of abatement 
efforts. Recognising financial institutions' need for accurate, granular data to assess and manage 
the environmental risks in their portfolios, Project Greenprint is exploring technology solutions that 
can help address existing data challenges and facilitate efficient, trusted  flows of ESG data from a 
variety of sources to improve disclosures and risk management.  
3.3 Becoming a Bright Green Spark  
Page 11, paragraph 3.13: This paragraph references Singapore's strategies to "build a 
sustainable, resource -efficient and climate -resilient nation", including through shifting toward more 
"sustainable production and consumption".  
19. Please explain how Singapore defines "sustainable production and consumption" in 
this context, and how this might impact trade.  
Response 19 : Sustainable produc tion involves managing resources better and reducing waste 
generated from conducting business.  
To encourage the shift to sustainable production, Singapore passed the Resource Sustainability Act 
in 2019, which takes a systems -level approach that mandates ke y responsibilities for producers, to 
encourage waste reduction and enable re -use and recycling nation -wide.  
In addition to regulatory interventions, we are also collaborating with the industry to build 
capabilities in sustainable production. For example, t he National Environment Agency (NEA) and the 
Singapore Manufacturing Federation launched the Packaging Partnership Programme in March  2021, 
an industry -led programme that will support companies to build capabilities in sustainable packaging 
waste managemen t. 
Sustainable consumption  refers to adopting sustainable habits of reducing, reusing and recycling. 
To encourage a mindset shift towards a more resource conscious Singapore, NEA is rallying the 
population through a nation -wide "Say YES to Waste Less" camp aign. This campaign aims to increase 
awareness and spur the public to take action to reduce food waste and excessive consumption of 
disposables. We have also worked with citizens to develop ways to reduce excessive consumption 
of disposables, and to promote the right recycling practices.  
Collectively, these efforts to promote sustainable production and consumption will catalyse 
Singapore's transition to a circular economy, and facilitate the creation of sustainable supply chains.  WT/TPR/M/413/Add.1  
 
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  For specific measures that have implications to trade, Sing apore will notify WTO members through 
the appropriate WTO processes.  
20. Please provide more detail on how JTC Corporation is working to build a more 
sustainable Jurong Island?  
Response 20:  JTC is working with companies and other government agencies to pilot n ew 
sustainability innovations and seize opportunities in a circular economy on Jurong Islandto transform 
Jurong Island into a sustainable energy and chemicals park. JTC recently made two innovation calls 
to improve sustainability on Jurong Island. The firs t innovation call, the Jurong Island Innovation 
Challenge, will crowdsource innovative ideas from start -ups and SMEs to enhance the sustainability 
and circularity of resources. The second innovation call, the Jurong Island Renewable Energy 
Request -for-Proposals, will focus on test -bedding innovative energy solutions including renewable 
energy and energy storage systems to reduce Singapore's carbon footprint. These innovation calls 
will bring together industry, technology partners and academia to develop, te stbed and scale -up 
new sustainability solutions on Jurong Island for the first time.  
21. What requirements exist for domestic and international enterprises, and how will 
this contribute to Singapore's and the region's climate change and other environmental 
goals? 
Response 21 : The Energy Conservation Act (ECA) was introduced in 2013 and enhanced in 2017. 
ECA mandates energy intensive companies in the industry sector whose business activity exceeds 
the energy use threshold of 54 terajoule per calendar year, to re gister with the National 
Environmental Agency and implement energy management practices, including the following:  
• Appoint an energy manager;  
• Monitor and report energy use and greenhouse gases annually;  
• Submit an energy efficiency improvement plan annually;   
• Conduct regular energy efficiency opportunities assessment;  
• Implement a structured Energy Management System; and  
• Conform to the Minimum Energy Efficiency Standards for common industrial equipment and 
systems such as motors and chilled water systems.  
In 2019, Singapore also passed the Resource Sustainability Act, which takes a systems -level 
approach that mandates key responsibilities to encourage reduction and enable re -use and recycling 
nation -wide, contributing towards our vision of a Zero Waste nation. This includes an Extended 
Producer Responsibility (EPR) Framework for e -waste, mandatory reporting of packaging data as 
well as plans to reduce, reuse or recycle packaging, including plastics, and mandatory food waste 
segregation and treatment for commerci al and industrial premises. Under an EPR approach, 
producers of regulated products are required to pay for the collection and recycling of their products 
at end -of-life. Such upstream regulations will signal to producers that they should account for the 
cost of environmental externalities, and redesign products to require less materials and be more 
easily recycled.  
Singapore also adopts other sector -specific and cross -sectoral measures to drive comprehensive 
climate action across multiple sectors. For examp le, Singapore implemented a carbon tax, the first 
carbon pricing scheme in Southeast Asia in 2019. The tax applies to direct emissions from facilities 
emitting 25 ktCO2e or more in a year. To maintain a transparent, fair, and consistent price signal 
across  the economy, the carbon tax is applied uniformly to all sectors without exemption. The carbon 
tax covers around 80% of our total emissions, which is one of the highest carbon tax coverage 
globally, and sends a fair, uniform and transparent price signal to  incentivise emissions reduction. 
Sector -specific measures include enhancing the energy efficiency of buildings and accelerating solar 
deployment, among others.  WT/TPR/M/413/Add.1  
 
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  6 REGIONAL AND BILATERAL TRADE COOPERATION  
Green Economy Agreements  
Page 14, paragraph 6.4:  The report notes that Singapore may negotiate green economy 
agreements.  
22. Would these green economy agreements be with existing FTA partners?  
Response 22:  Singapore is keen to explore mutually beneficial Green Economy Agreements (GEA) 
with like -minded partners who are ready and keen to pursue an ambitious and comprehensive 
agreement. For existing FTA partners, GEAs can complement and further strengthen ongo ing 
cooperation. The existence of an FTA with a potential GEA partner would help inform the eventual 
structure and coverage of the GEA.  
23. What are the anticipated impacts of green economy agreements, and who would 
determine the environmental standards for su ch agreements?  
Response 23:  Singapore envisions that green economy agreements (GEAs) and the ensuing 
bilateral and industry collaborations would contribute to strengthening environmental governance, 
developing new global capacity to address climate change,  as well as create good jobs in green 
growth sectors. These GEAs negotiated with like -minded trading partners would also look to foster 
regulatory convergence and setting common rules and standards especially in newer sectors such 
as green financing, carbo n services, and low -carbon solutions.  
Other Regional and Bilateral FTAs and Economic Partnerships  
Page 15, paragraph 6.13:  The report notes that the trade agreement between the United Kingdom 
and Singapore goes beyond the requirements of the WTO Agreement on Technical Barriers to Trade 
and the WTO Agreement on the Application of Sanitary and Phytosanitary Measures.  
24. Please el aborate in what ways the FTA "goes beyond" each of these agreements in 
terms of commitments made.  
Response 24:  The UK -Singapore FTA incorporates the TBT and SPS chapters of the EU -Singapore 
FTA. In addition to the commitments to reduce duplicative testing and certification procedures, there 
are other commitments that "go beyond" the WTO Agreements. One example is Article 4.10 of the 
Chapter on TBT which contains disciplines on marking and labelling such as Parties' commitment to 
generally not require prior approval or certification of labels and markings as a precondition for sale 
of the products on its market. Further details on the Chapters on TBT and SPS can be found in the 
Factual Presentation of the Singapore -EU FTA (WT/REG402/1).  
FOLLOW -UP 
Part I. Unit ed States follow -up questions based on the WTO Secretariat Report (WT/TPR/S/413)  
3 TRADE POLICIES AND PRACTICES BY MEASURE  
3.1 Measures Directly Affecting Imports  
3.1.1 Customs procedures, valuation, and requirements  
3.1.1.1 Customs procedures  
Page 41, paragraph 3.3:  With regard to customs procedures, mention is made that all trade 
declarations are submitted and processed through TradeNet.  
1. Is TradeNet an entity of the Government of Singapore, or is it a private company?  If 
a private company, what da ta contracts or requirements cover the data collected by 
TradeNet?  
Response 1:  Singapore Customs oversees the administration of TradeNet, which is an electronic 
portal, where any data collected is safeguarded by the Regulation of Imports and Exports Act (R IEA). WT/TPR/M/413/Add.1  
 
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  Page 41, paragraph 3.4:  Reference is made to the Networked Trade Platform (NTP), a one -stop 
next-generation trade and logistics ecosystem that connects players across the trade value chain 
in Singapore and abroad.  
2. Is NTP an entity of the Government o f Singapore, or is it a private company?  If a 
private company, what data contracts or requirements cover the data collected through 
the NTP?  
Response 2:  Singapore Customs oversees the administration of NTP, which is an electronic portal 
where data exchange d is governed by a set of platform Terms & Conditions that all users agree to. 
In addition, data furnished by users to Singapore Customs for regulatory purposes spelt out under 
the Regulation of Imports and Exports Act (RIEA) is also safeguarded by the RIE A. 
Page 41, paragraph 3.5:  This paragraph describes documentation requirements for conventional 
import cargo.  
3. Are there any plans to implement paperless clearance for other categories of imports 
besides containerized cargo via sea?  
Response 3:  Yes. Singapore Customs and the relevant government agencies have plans to extend 
paperless clearance to conventional cargo via all modes of transport.  
3.1.1.3 Customs valuation  
Page 44, paragraph 3.12:  This paragraph explains the current practice on advan ce rulings ruling 
on customs valuation.  
4. Is Singapore Customs evaluating whether to expand the range of topics and 
questions it covers under its Advance Ruling program?  
Response 4:  In addition to advance rulings on customs valuation, importers may presently also 
apply for advance rulings on goods ' classification and country of origin.  
3.1.2 Rules of origin  
Page 45, paragraph 3.16:  The report notes that under the Singapore -China FTA,  the customs 
authorities of both parties agreed to establish the Electronic Origin Data Exchange System  (EODES) 
to allow for the electronic transmission of preferential certificates of origin and certificates on non -
manipulation between Singapore and China .  
5. What kind of data security and protection measures are in place for the EODES 
system?  Are any other electronic data exchanges contemplated with China, either 
through EODES or through another IT system?  
Response 5:  The purpose of the EODES is to allow for the digital transmission of Preferential 
Certificates of Origin (PCO) and Certificates of Non -Manipulation (CNM), in place of transmission of 
the paper format. This is to better facilitate paperless trading, which Singapore has sought to achieve 
with all its trading partners.  
The EODES is governed by data security and protection measures in accordance with the Singapore 
Government's data security and protection policies and guidelines, with strict adherence to ensure 
end-to-end confidentiality of data exchanged at all times between identified environments. Only 
electronic PCOs and CNMs are transmitted through the EODES. This is the only way that they can 
be transmitted to China.  Therefore, there is no difference in the type of information submitted  as 
part of the necessary customs procedures, only the modality of submission.  
5 Appendix Tables  
Page 125, Table A3.1 on Selected tax and non -tax incentives, and SME support, 2020: The 
table details selected tax and non -tax incentives, and SME support.  WT/TPR/M/413/Add.1  
 
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  6. Does the LIS program, Enterprise Singapore, or any Singaporean entity provide 
medium and long term (MLT) export credit support?  
Response 6:  There are no Singapore Government entities providing medium and long term (MLT) 
export credit support . 
The Loan Insuran ce Scheme (LIS) ceased from 31 March 2021 and did not provide any medium and 
long term MTL export credit support when it was in operation.  
Part II. United States follow -up questions based on the Singapore Government Report 
(WT/TPR/G/413)  
4 OPEN, FACILITATIVE AND INCLUSIVE TRADE INFRASTRUCTURE  
Helping SMEs adapt to the digital economy  
Page 12, paragraph 4.5:  The report indicates that PayNow Corporate enables SMEs to not only 
accept real -time account -to-account payments with low to no fees u sing only a proxy identifier 
with their Unique Entity Number (UEN), but also facilitates seamless vendor -supplier payments 
across the supplier value chain.  
7. Is PayNow integrated or connected in any way to Singapore Customs or the ASEAN 
Single Window?   
Respo nse 7:  No. PayNow is not integrated or connected in any way to Singapore Customs or the 
ASEAN Single Window.  
 WT/TPR/M/413/Add.1  
 
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  AUSTRALIA  
Report by the Secretariat (WT/TPR/S/413)  
3 Trade Policies and Practices by Measure  
3.3 Measures Affecting Production and Trade  
3.3.1 Taxation and incentives  
3.3.1.2 Tax and non -tax incentives  
Page 59, Paragraph 3.66  
The report states that "information about the economic costs (i.e. tax revenue forgone) of the 
incentive schemes is not publicly available, which  prevents carrying out a cost -benefit analysis of 
the incentives. It has been suggested that enhancing transparency in this regard would be 
desirable".  
Question 1  
Given Singapore regularly notifies the WTO that it does not provide any notifiable 
subsidies under WTO rules, could Singapore please make available the additional 
information identified by the Secretariat.  
Response 1:  Information on these schemes is available online, in the English language, and can be 
accessed on the website of the administering agencies. For example:  
• Information on the Budgets of 2020 and Budget 2021 can be accessed via 
<https://www.mof.gov.sg/singapore -budget/budget -2020> and 
<https://www.mof.gov.sg/singaporebudget > respectively.  
• Information on the Productivity Solutions Grant can be accessed via 
<https://www.enterprisesg.gov.sg/financial -assistance/grants/for -local-
companies/enterprise -development -grant/overview > 
• Information on the Enterprise Development Grant can be accessed via 
<https://www.enterprisesg.gov.sg/financial -assistance/grants/for -local-
companies/productivity -solutions -grant > 
3 Trade Policies and Pr actices by Measure  
3.3 Measures Affecting Production and Trade  
3.3.3 Sanitary and phytosanitary (SPS) requirements  
3.3.3.1 Overview  
Page 63, Paragraph 3.93  
The Report states that Singapore ensures that its SPS measures are consistent with the international  
standards, guidelines, and recommendations of the Codex, OIE and IPPC, and that where 
international/regional standards are not available, Singapore conducts its own risk assessment and 
makes risk -management decisions, taking into account economic, technic al, and other relevant 
factors.  
Question 2  
Could Singapore please provide weblinks of the relevant Ministry websites where its risk 
assessments are published? If these are not currently publicly available, will Singapore 
undertake to make publicly availabl e risk assessments to further enhance transparency 
measures in accordance with WTO SPS principles?  
Response 2:  The outcomes of these risk assessments and explanations of which can be found on 
our regulatory agencies' websites or upon request.  WT/TPR/M/413/Add.1  
 
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  3 Trade Polic ies and Practices by Measure  
3.3 Measures Affecting Production and Trade  
3.3.3 Sanitary and phytosanitary (SPS) requirements  
3.3.3.2 Food products  
Page 64, Paragraph 3.95  
The report states that, with respect to the import of food products "the SFA and NP arks inspect 
import consignments to assess whether they are free from disease, contaminants, and spoilage, by 
implementing inspections, samplings, and laboratory tests".  
Question 3  
Given the rise in SMEs that offer direct import groceries (i.e.  importing small 
consignments of food products for individual online purchasers), can Singapore provide 
details on its sampling regime, including sampling size requirements for small import 
consignments.  
Response 3:  The Singapore Food Agency (SFA) adopts a  risk-based approach to food safety and 
has in place an integrated food safety system to ensure that food is safe for consumption.  
Imports of food into Singapore for sale and distribution, regardless of the quantity imported, are 
deemed commercial imports and require an importer's licence and/or registration with SFA, 
depending on the commodity. In addition, such importers are required to fulfil SFA's import 
requirements and apply for import permits for each food consignment. Commercial imports will be 
subjected to SFA's inspection and testing regime. SFA adopts a risk -based approach where food 
imports of higher risks are inspected and sampled. Subsequently, samples are tested to check if 
they meet SFA's regulatory requirements. Generally, food products, suc h as ready -to-eat meat and 
seafood, which poses higher inherent food safety risk will be subjected to continuous testing. For 
food consignments with poor or no food safety records, SFA will subject subsequent consignments 
originating from the same source t o continuous testing. Only upon three consecutive passes, will 
SFA transit to routine testing at a lower frequency. In both scenarios, these high -risk foods will be 
subjected to hold -and-test where the consignments cannot be distributed or sold until the l aboratory 
results have been released and the sample is found compliant with Singapore food laws.  
3 Trade Policies and Practices by Measure  
3.3 Measures Affecting Production and Trade  
3.3.3 Sanitary and phytosanitary (SPS) requirements  
3.3.3.4 Food labelling  
Page 66, Paragraph 3.109  
The Report states that apart from the general requirements (referred to in 3.108), specific labelling 
requirements may apply to certain pre -packaged food.  
Question 4  
Could Singapore please clarify whether it would conside r avenues for exemptions from 
mandatory nutritional labelling requirements and health advisory labelling, outside of 
predefined parameters around fat and sugar contents, to allow for review and a more 
holistic assessment of a product's key nutritional role  in a balanced diet (for example, to 
account for the nutritional benefits of products such as full -fat milk) and to minimise the 
potential to impact trade.  
Response 4:  The World Health Organization (WHO) has called on countries to take action to reduce 
individuals' intake of sugar to as low as possible, stating that "nutritionally, people do not need any 
sugar in their diet". Diabetes is a serious public health problem in Singapore and a high intake of 
sugar is linked to increased risk of diabetes. More tha n half of Singaporeans' daily sugar intake 
comes from beverages.  WT/TPR/M/413/Add.1  
 
- 23 - 
 
  In addition to sugar, Singapore recommends that adults and children after the age of two should opt 
for low -fat over full -fat milk and that full -fat milk is a source of saturated fat, which one should 
reduce intake of. This is aligned with WHO recommendations to reduce intake of all free sugars and 
saturated fat, and to opt for low -fat options.  
Hence, Singapore intends to introduce labelling requirements for certain beverages, as part of a 
suite of measures that are aimed at helping consumers identify beverages that are higher in sugar 
and saturated fat and make more informed, healthier choices, and to reduce the influence from 
advertising on consumer preferences, and spur industry reformulat ion. This decision was made after 
carefully considering the feedback received from public, industry and expert stakeholders, and 
reviewing existing overseas and local evidence.  
The measures do not detract from our ability to recognise the important and ben eficial nutrients for 
targeted population segments in individual beverages. In this regard, we recognise the nutritional 
benefits of full -fat milk as a good source of nutrients and energy to aid the development of young 
children, and intend to highlight th ese benefits as part of our public education efforts to help 
consumers understand the new measures. Furthermore, milk and other beverages may also continue 
to display positive nutrition and health claims (e.g. "source of protein" or "source of calcium") on  
the product packaging, subject to Singapore's prevailing laws and regulations.  
We have balanced between the benefits of bringing the measures to fruition as soon as possible and 
ensuring that our stakeholders have sufficient time to adapt to the new requi rements.  
Question 5  
Could Singapore please indicate what transition timeframes are provided to exporters of 
goods destined for Singapore when new labelling requirements are introduced.  
Response 5:  The new labelling requirements will come into effect 12 mo nths after the amendment 
regulations are published in the Government Gazette.  
3 Trade Policies and Practices by Measure  
3.3 Measures Affecting Production and Trade  
3.3.6 Government procurement  
Page 72, Paragraph 3.141  
The Report states that the core princi ples of government procurement in Singapore are open and 
fair competition and transparency.  
Question 6  
Could Singapore please explain if it is permissible for procuring entities to require foreign 
suppliers to obtain a local bank account in order to provid e a financial guarantee prior to 
submitting a bid? If so, what is the rationale? This type of requirement can make tendering 
prohibitively costly for foreign suppliers, and may not be essential to ensure that a 
supplier has the financial capabilities to un dertake the relevant procurement.  
Response 6:  Procuring entities generally do not require tenderers to provide a financial guarantee 
prior to submitting a bid. The practice is only adopted for a very small number of high -value tenders 
when procuring entiti es deem it a necessary measure to ensure that tenderers are serious and have 
the financial capacity to undertake the project. Procuring entities recognise that it is not in their 
interest to unnecessarily limit the number of tenderers who can participate. The financial guarantee 
requirement would apply equally to local and foreign suppliers, and financial guarantees from any 
financial institution licensed by the Monetary Authority of Singapore are accepted, not just local 
banks.  
3 Trade Policies and Practices by Measure  
3.3 Measures Affecting Production and Trade  
3.3.7.2 Policies on promotion and commercialization of innovation  WT/TPR/M/413/Add.1  
 
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  Page 75 -76, Paragraph 3.156  
The report states that IPOS transitioned during the review period from a registration and regulatory 
agency into an "innovation agency" and broadened its focus to include the commercialization of IP. 
To this end IPOS has undertaken a variety of initiatives , outlined in the report.  
Question 7  
Which of IPOS' initiatives as an innovation agency have been most successful and has 
there been a marked increase in IP commercialisation and a subsequent increase in 
spinout companies, licensing agreements etc.?  
Respo nse 7:  Achieving better innovation outcomes, e.g., through intellectual property (IP) 
commercialisation activities such as licensing, is a national objective under Singapore's Research, 
Innovation and Enterprise 2025 plan.  
IP commercialisation is a multi -faceted effort that requires IPOS to work closely with multiple 
Government agencies, to support the translation of research outcomes into products and services 
that generate economic and societal benefits for Singapore.  
Some key initiatives undertaken by IPOS together with relevant Government agencies include the 
National IP Protocol, which streamlines and facilitates the transfer of IP generated from publicly -
funded research & development (R&D) to industry. IPOS also works closely with other public 
agenci es, as well as industry and enterprises, to build IP management capabilities, which is critical 
for effective IP commercialisation. Notably, the Singapore IP Strategy 2030 
(www.ipo s.gov.sg/manage -ip/singapore -ip-strategy -2030) sets out the nation's plans to improve IP 
commercialisation outcomes.  
As a proxy for IP commercialisation outcomes, we note that the sales revenue from commercialised 
products and processes attributed to R&D performed in Singapore increased from S$25.2billion in 
2014 to S$29.3billion in 2019  
3 Trade Policies and Practices by Measure  
3.3 Measures Affecting Production and Trade  
3.3.7.2 Policies on promotion and commercialization of innovation  
Page 76, Paragraph 3.157  
The report states that IPOS has also promoted innovation and IP commercialization by reducing 
application pendency periods with fast -track or acceleration programmes. Initially reserved for 
financial technology and artificial intelligence (AI) patent s, SG IP FAST provides that patent 
applications first filed in Singapore can be granted in as few as six months, and applicants who have 
successfully requested patent acceleration can also request accelerated review of related trademark 
and registered desi gn applications . 
Question 8  
Has Singapore undertaken any initiatives (current or planned) which have explored the 
impact of AI systems on IP?  
Response 8:  IPOS is reviewing the local intangible assets (IA)/intellectual property (IP) regime to 
ensure that it  supports the development and use of AI technologies. As part of this review, IPOS has 
embarked on a research collaboration with the Singapore Management University Centre for Artificial 
Intelligence (AI) and Data Governance and Singapore Infocomm Media De velopment Authority to 
gather views from key stakeholders in the AI field. The review will consider important concepts in IP 
which have come under increasing scrutiny with the advent of AI technologies.  
Question 9  
What does Singapore consider to be the key  features, benefits and detriments of patenting 
AI-generated inventions?  WT/TPR/M/413/Add.1  
 
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  Response 9:  The patenting of AI -generated inventions is being considered in the aforementioned 
study.  
4 Trade Policies by Sector  
4.3 Manufacturing  
Page 88, Paragraph 4.37  
Page 89, Paragraph 4.43  
The report states (4.37), Singapore is looking at taking advantage of Industry 4.0 and at moving 
into high tech capabilities for a number of their ITMs (4.43).  
As Australia begins its journey into supporting our manufacturing industry to scale up, build 
competitiveness and capability, we are also looking at incorporating Industry 4.0 and the new 
opportunities with technologies such as AI, IIoT, and EV.  
Question 10 
Can Singapore share any plans on how they are intended to build Industry 4.0 capability 
in their ITMs and how they are intending to take advantage of these technologies in their 
clean energy ITM?  
Response 10:  Singapore does not have a clean energy ITM.  
Singapore has established the Smart Industry Readiness Index (SIRI) to provide a data -backed 
snapshot of Industry 4.0 maturity levels, which firms can benchmark against peers. In addition, 
Singapore is proliferating this standard globally through the World  Economic Forum -Economic 
Development Board SIRI Internationalisation Collaboration initiative. Our industries are also 
supported in their Industry 4.0 journey by national initiatives such as the Advanced Remanufacturing 
and Technology Centre, the Industry 4.0 Human Capital Initiative, and the Advanced Manufacturing 
Centre in one of our Institutes of Higher Learning.  
4 Trade Policies by Sector  
4.3 Manufacturing  
Page 89, Paragraph 4.43  
We also note the report states (4.43) that Singapore is looking at emphasi sing upskilling and 
reskilling to meet your manufacturing industry needs.  
Again, Australia is following a similar path in developing our manufacturing industry by upskilling 
and reskilling our workforce to assist industry growth and we note Singapore's IT Ms closely match 
Australia's National Manufacturing Priorities . 
Question 11  
Can Singapore share any insight s into how they are engaging with industry on how to best 
provide the correct skills to the workforce? And if industry is engaged, what skills have 
been identified as imperative to grow each ITM?  
Response 11:  The Future Economy Council has seven subcommitt ees, with each subcommittee 
overseeing a group of Industry Transformation Maps (ITMs) within the same broad cluster of 
industries. These subcommittees comprise a diversity of stakeholders, including employers, trade 
associations and chambers, unions, and a cademia that co -create the ITMs with the government 
agencies. These stakeholders also provide insights on emerging trends on jobs and skills in the 
respective sectors.  
Under the ITMs, manpower and economic agencies in Singapore work together to adopt stra tegies 
to retain senior workers in their sectors and create new jobs for senior workers where possible. The WT/TPR/M/413/Add.1  
 
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  ITM were launched in 2016 as road maps to drive transformation for 23 industries across 
manufacturing, built environment, trade and connectivity, es sential domestic services, modern 
services, and lifestyle. To address the systemic shifts and seize new opportunities brought about by 
COVID -19, each of the 23 ITMs will be refreshed over the next 5 years through ITM 2025, by 
reviewing the existing ITMs an d updating the sectoral strategies, to meet the accelerated changes 
arising from the changing operating environment.  
The Skills Framework is an integral component of the ITMs, that crystallises the new jobs and skills, 
as well as changes to existing jobs a nd skills, that would support the ITM strategies. The Skills 
Framework aims to create a common skills language for individuals, employers, Institutes of Higher 
Learning (IHLs) and training providers, to facilitate skills recognition and support the develop ment 
of training programmes. Each Skills Framework provides key information on the sector, career 
pathways, occupations and job roles, as well as existing and emerging skills required for the sector. 
A list of training programmes for skills upgrading and m astery are also provided in relation to the 
Skills Framework. The Skills Frameworks are available at: https://www.skillsfuture.gov.sg/skills -
framework   
Question 12  
Can Singapore share the funding models, uptake, outcomes and future plans for the 
mentioned Professional Conversion Programme, the Career Support Programme, and the 
Re-Skilling for Jobs program for the manufacturing sector? We would be interested to 
know h ow successful these programs have been.  
Response 12 : Visit the following websites for information on the programmes:  
1. Professional Conversion Programmes: www.wsg.gov.sg/pcp  
2. Career Trial: www.wsg.gov.sg/programmes -and-initatives/career -trial-jobseekers.html  
• The previous Reskilling for Jobs – Work Trial has been enhanced and renamed Career Trial 
with effect from 1 April 2018.  
3. Career Support Programme: Ceased with effect from 1 Sep 2020 with the announcement of 
the Jobs Growth Incentive.  
4. Jobs Growth Incentive: https://www.iras.gov.sg /irashome/Schemes/Businesses/Jobs -Growth -
Incentive --JGI-/ 
The cumulative outcomes of the programmes are appended.  
Report by Singapore (WT/TPR/G/413)  
3 Economic Outlook and Navigating Recovery  
3.1 Transforming the Singapore economy  
Page 9, Paragraph 3.3  
The report states that building on the RIE2015 and RIE2020 plans, RIE2025 supports strengthening 
capabilities in strategic and emerging areas (e.g. climate change, food resilience, human potential) 
and key technologies (e.g. artifici al intelligence (AI), cybersecurity). SGD 3.75 billion, or 15% of the 
budget, has been set aside as 'White Space' for greater agility in responding to emergent priorities 
and breakthroughs.  
Question 13  
Australia would welcome further information from Singa pore regarding how the RIE2025 
will build upon the previous plans, particularly in response to climate change and ongoing 
advances in key technologies, and whether the research grants are available to 
international parties.  WT/TPR/M/413/Add.1  
 
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  Response 13:  Singapore's RIE202 5 plan has three broad strategic foci to build on the progress 
from previous RIE plans:  
(i) Expand the coverage of RIE domains to tackle a broader spectrum of national needs  
(ii) Enrich our scientific base, maintaining our strong support for basic research  
(iii) Scale up platforms to drive technology translation and strengthen the innovation capabilities of 
our enterprises  
More information on the RIE2025 plan and its coverage, which includes climate change and other 
areas of technology, can be found at: https://www.nrf.gov.sg/rie2025 -plan. 
Singapore has collaborations with international partners in various RIE areas of interest. Usually, 
such collaborations will bring together the relevant parties from both  countries to explore areas of 
mutual research and innovation interest, including discussion on suitable and equitable funding 
modalities (e.g. joint research projects with each country funding its own researchers).  
Question 14  
Australia would welcome furt her information from Singapore about how the 'White Space' 
would work regarding funding and functions. Australia understands that $3.75B2 has been 
set aside for agility and to support new programmes, and we would be grateful for 
additional detail on, and explanation of this funding.  
Response 14:  The 'White Space' budget allocation is intended to enable Singapore to support new 
cross-domain initiatives and to nimbly address new priorities that may emerge over the course of 
the 5 -year RIE plan due to technol ogical, international or domestic developments. This enables 
Singapore to continually invest in new ideas and support high -quality exploratory research to seed 
future innovation. The 'White Space' budget is therefore not pre -allocated upfront to any specif ic 
domain, and public sector agencies can raise proposals to tap on this budget.  
3 Economic Outlook and Navigating Recovery  
3.3 Becoming a 'Bright Green Spark'  
Page 10 -11, Paragraph 3.11  
The report states that 'As a small island city -state, Singapore has limited natural resources to 
generate alternative energy. Nonetheless, we will meet our commitments under the Paris Agreement 
and aspire to achieve net -zero emissions as soon as viable in the second half of the century. To 
achieve this, we are investing in  low-carbon technologies, tapping on renewable energy at home and 
from the region and electrifying our vehicles. We are also developing Singapore into a carbon trading 
and services hub for the region and reviewing our carbon tax to encourage companies to b ecome 
more carbon efficient.'  
Question 15  
Australia understands that the Singaporean Government plans to review the current 
carbon tax, post -2023, in consultation with industry and expert groups3. Up until 2023, 
Australia understands that the carbon tax level in Singapore will be maintained 
at  $5/tCO2e as previously announced by the Singaporean Government. Australia would 
welcome advice if there is a chance for countries to be updated on the Sing aporean 
Government's review of the carbon tax, and for Australian businesses and the Government 
to provide input into the review.  
 
2 https://www.nrf.gov.sg/rie2025 -plan 
3 https://www.nccs.gov.sg/singapores -climate -action/carbon -tax/ WT/TPR/M/413/Add.1  
 
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  Response 15:  The Government will consult the industry and expert groups as part of the review, 
and welcome Australian business es' views as part of the industry consultations. We will announce 
the outcome of our carbon tax review in 2022.  
Question 16  
Through the Singaporean Government carbon tax review and intentions to become more 
carbon efficient, Australia would also welcome ad vice on whether the Singapore 
Government collects revenue or offers (or is considering) any tax credits, refunds, or 
other financial incentives for companies to export carbon waste overseas.  
Response 16:  Singapore faces challenges in deploying carbon capture and storage domestically, 
including a lack of any known geological formations that are suitable for the permanent storage of 
carbon dioxide underground. The Government is therefore exploring partnerships with companies 
and other countries with suit able geological formations to enable carbon dioxide storage 
opportunities. We will also explore how to support companies in carbon capture and storage 
initiatives.  
5 Supporting a Multilateral Trading System Fit for the Future  
Page 12, Paragraph 5.2  
The rep ort states that Singapore strongly supports efforts to reform the WTO, including adoption of 
innovative pathways to ensure it is fit -for-purpose in the 21st century. In this regard, Singapore 
supports the Joint Statement Initiatives (JSIs) as a means to ad dress key emerging issues such as 
electronic commerce (E -Commerce), and trade and environmental sustainability.  
Question 17  
Given its leading role in supporting plurilateral pathways on emerging issues in the WTO, 
has Singapore decided to join the Service s Domestic Regulation Joint Statement Initiative, 
which would further support efforts to reform the WTO?   
Response 17:  Singapore remains open -minded regarding our participation. We are in the final 
stages of internal consultations and hope to come to a decision soon. In general, Singapore is open 
to the disciplines and the legal structure. We have undertaken good DR disci plines in our existing 
FTAs with major services trading partners. We note that the initiative has progressed well, and we 
are hopeful for broader participation among WTO Members.  
 WT/TPR/M/413/Add.1  
 
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  MEXICO  
Secretariat Report  
Trade Policies and Practices, by measure  
Page 62  
3.53. The Inland Revenue Authority of Singapore (IRAS) administers the Major Exporters Scheme 
(MES), which aims to alleviate the cash flow situation of companies that re -export a substantial 
amount of what they import. Companies authorized under the MES benefit from GST suspension in 
respect of non -duty-paid goods imported into Singapore and goods withdrawn from a warehouse 
with zero GST.  
Question:  
1. Could Singapore please indicate whether there are specific guidelines or 
methodologies for det ermining whether a company re -exports a substantial part of what 
it imports?  
Response 1:  Under Singapore's Goods and Services Tax (GST) rules, businesses have to pay GST 
upfront for the inputs used in the processing and manufacturing of their final goods ( i.e. when such 
inputs are purchased or imported). Given that GST is a consumption tax that is levied on goods 
consumed domestically in Singapore, it is not imposed or collected for inputs used to process and 
manufacture final goods that are ultimately expo rted (i.e. zero -rated supplies). For these zero -rated 
supplies, businesses can claim a refund of the GST that was paid upfront for these inputs.  
The Major Exporter Scheme (MES) is a scheme intended to ease the cash flow of businesses that 
have substantial imports of inputs, which are used in further processing and manufacturing into final 
goods that are exported. This is done through a GST suspension on non -dutiable goods imported 
into Singapore, which will reduce the need for businesses to seek subsequent refunds that would 
take time to process. The MES is also applicable for businesses that import goods for the primary 
purpose of re -exports.  
State Owned Enterprises  
Page 76 (paragraph 3.130)  
3.130 As of March 31, 2020, Temasek's net portfolio value amounte d to SGD 306 billion 
(USD  214 billion), up from SGD 242 billion at the end of March 2016. Its investments are diversified 
across various economic sectors: financial services (23%); telecommunications, media and 
technology (21%); consumer goods and real est ate (17%); transportation and industrial activities 
(16%); life sciences and agribusiness (8%); multi -sector funds (8%); energy and natural resources 
(2%); and others (5%). Two -thirds of Temasek's underlying exposure is concentrated in Asia 
(including Sing apore at 24%), although there has been a rebalancing towards North America and 
Europe in recent years  
Question:  
2. Further information is requested on TEMASEK's shareholding in the banking sector 
and, if so, are there any special rules due to having the Mini stry of Finance as its sole 
shareholder?  
Response 2: Temasek provides a list of major portfolio companies in their Annual Report (see 
https://www.temasek.com.sg/en/our -financials/library/temasek -review ). 
Temasek invests on a commercial basis and is treated the same as any other private sector investor. 
Temasek does not enjoy any special consideration or exemptions from Government on the basis of 
its ownership by Government.  WT/TPR/M/413/Add.1  
 
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  Page 102 (paragraph 4.57)  
4.57 The Singapore banking system consists of four domestically owned banks and 128 foreign 
banks with various forms of legal nature. The following banking groups have been designated as 
domestic systemically important banks: DBS  Bank, Oversea -Chinese Banking Corporation, United 
Overseas Bank, Citibank, Maybank, Standard Chartered Bank, and Hongkong and Shanghai Banking 
Corporation.  
Comment:  
3. It is recommended that domestic banks be differentiated from banks that have 
government p articipation, so as to then be able to know how their development banking 
works in comparison with their private banking and not only the latter in comparison with 
foreign banking . 
Response 3:  All four domestic banks in Singapore are private -sector banks. Aside from Bank of 
Singapore (which is owned by OCBC, one of the other three banks), the other three banks are 
publicly listed on the Singapore Exchange.  
Page 103 (paragraph 4.62)  
4.62 On 28 June 2019, MAS announced that it would issue up to two full digital banking licences and 
three wholesale digital banking licences to non -bank applicants through a competitive process. The 
application deadline opened on August 29, 2019, and succe ssful applicants were announced in 
December 2020.  
Question:  
4. Is the licensing process voluntary, and does MAS, mandate when and how many new 
banks can be added to the system?  
Response 4:  A bank licence and written authorisation from MAS is required to con duct banking 
business in Singapore. The MAS had announced that we would award up to two digital Full Bank and 
up to three digital Wholesale Banks. The application process which began in August 2019 was held 
open to enable non -bank digital players with stro ng value propositions to apply for a bank licence 
voluntarily. MAS will review whether to grant more digital Wholesale Banks in the future.  
Page 104 Table 4.6 Types of bank licenses.  
Questions:  
On the number of fully licensed banks:  
5. Are these banks owned by the government or by Singaporean individuals and 
corporations? If yes, are there any development banks in Singapore?  
Response 5 : All four domestic banks in Singapore are private -sector banks. Aside from Bank of 
Singapore (which is owned by OCBC, one of the other three banks), the other three banks are 
publicly listed on the Singapore Exchange.  
On privileges for fully licensed banks/full licensed foreign banks:  
6. What about domestic banks?  
Response 6:  The four domestic banks in Singapore are stated as incl uded in the second row of the 
table for "Qualifying Full Banks" and have the same privileges, except that they do not have any 
quotas on the number of locations that they can operate.  
Regarding the provision of services through the EFTPOS network:  WT/TPR/M/413/Add.1  
 
- 31 - 
 
  7. Do you m ean Electronic Funds Transfer at Point of Sale?  
Response 7 : Yes.  
On MAS's ability to grant fully -licensed banks substantially bonded in Singapore:  
8. Does the term "Singapore -guaranteed" refer to guaranteed by the Singapore 
government?  
Response 8:  The report  and Table 4.6 do not mention the term "Singapore -guarantee"  
On MAS's ability to grant an additional full banking license to a fully -licensed bank that is 
substantially over -collateralized and substantially exceeds the benchmarks:  
9. Are these licenses cumulative and what is the advantage of having an additional full 
license?  
Response 9:  MAS's ability to grant an additional full banking license to a fully -licensed bank that is 
substantially over -collateralized and substantially exceed s the benchmarks.  
Page 113 (Paragraph 4.109)  
4.109 Electronic payments are increasingly popular in Singapore, and the adoption of alternative 
solutions to cash in the form of e -wallets and mobile banking applications has been steadily 
increasing. For exam ple, about 80% of Singapore residents and businesses are registered on the 
PayNow and PayNow Corporate platforms, respectively, allowing users to transfer money instantly 
between bank accounts and e -wallets using their cell phone numbers.  
Question:  
10. Pleas e elaborate on the explanation of the PayNow system.  
Response 10:  PayNow  is a central addressing scheme that rides on our faster payments system 
FAST. More information on PayNow is on this page which is hosted by the Association of Banks in 
Singapore that is the scheme owner for PayNow.  
https://www.abs.org.sg/consumer -banking/pay -now 
Competition Policy  
Page 73 (paragraph 3.113)  
3.113. Competition law applies to all enterprises, i.e., all natural or legal persons capable of engaging 
in commercial or economic activi ty, regardless of whether they are owned by foreigners or Singapore 
nationals, or by the Government or its official agencies. However, some sectors are excluded from 
the scope of application of this legislation due to public interest considerations (e.g., national security 
and defense) or because they already have sectoral competition frameworks. Examples of the latter 
are the energy, telecommunications and postal services, media and airport services sectors.  
Questions:  
11. Considering the sectoral competition framework applicable to the 
telecommunications sector are cooperation mechanisms required or already in place 
between the Competition and Consumer Commission of Singapore (CCCS) and the 
Infocommunications Media Development Authority (IMDA)?  
Response 11:  A formal cooperation mechanism is not required for CCCS and IMDA to cooperate or 
coordinate on competition issues within the telecommunications sector. For cross -sectoral issues, 
both agencies would work together to resolve the issues and where necessary to prevent double 
jeopardy and minimise regulatory burden.  WT/TPR/M/413/Add.1  
 
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  12. How does the CCCS interact with regulators in sectors exempted from the 
Competition Act?  
Response 12:  CCCS will engage regulators directly as and when issues that relate to competition 
in excluded sec tors arise. CCCS has also established a Community of Practice for Competition and 
Economic Regulations (COPCOMER) which serves as an inter -agency platform for government 
agencies to learn about latest local and overseas competition developments and share b est practices 
and experiences on competition, consumer protection and regulatory issues. The platform 
encourages adoption of harmonised and effective competition, consumer protection and regulatory 
policies based on the shared best practices and experience s 
13. How are cases of anticompetitive conduct involving more than one regulated sector 
handled?  
Response 13:  The authority vested with jurisdiction over the specific sector will take the lead in 
investigating conduct for the specific sector/activity, in consu ltation with other relevant sector 
regulators.  
Page 73 (paragraph 3.114)  
Footnote 59: As set out in its Guidelines on Substantive Assessment of Mergers, the CCCS generally 
considers that a merger situation is unlikely to give rise to competition concerns u nless the merged 
entity has (a) a market share of 40% or more; or (b) a market share of between 20% and 40%, 
and the combined post -merger market share of the three largest firms is 70% or more]. Mergers 
are not required to be notified in Singapore; however , parties to a merger may choose to notify their 
merger to the CCCS and request a decision on the present or future conformity of the situation 
resulting from the merger with the prohibition set forth in Article 54.  
Questions:  
14. In view of the competition co ncerns identified by the Guidelines on Substantive 
Merger Assessment, has the need to prevent concentrations for anti -competitive purposes 
(killer acquisitions) in sectors such as pharmaceuticals or digital markets been analyzed?  
Response 14:  Yes. Onus is on the party relying on the failing firm defense to provide CCCS with 
the necessary evidence.  
15. Is it possible to resort to failing firm defense  for those concentrations that give rise 
to competition concerns, according to the assumptions set out in the Guidelines on 
Substantive Merger Assessment?  
Response 15:  Yes. Onus is on the party relying on the failing firm defense to provide CCCS with 
the necessary evidence.  
16. Is there a time limit for the CCCS to conduct ex post analysis of the competitive 
effects of completed mergers?  
Response 16 : No. 
Page 74 (paragraph 3.120)  
3.120 To deter potential infringers and punish violations, the Competition Act empowers the CCCS 
to impose sanctions for intentional or negligent violations. The CCCS determines at its discretion the 
amount of the financial penalty to be imposed. However, the Competition Act sets the maximum 
amount at 10% of the company's turnover in Singapore per year of infringement, up to a maximum 
of three years.  
Question:  WT/TPR/M/413/Add.1  
 
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  17. Is the figure of negligence under the Competition Act applicable only in merger 
control matters o r does it also apply to conduct involving abuse of market power and 
cartels?  
Response 17:  CCCS may impose a financial penalty for an infringement of any prohibition under 
the Act provided that infringement has been committed intentionally or negligently.  
Page 119 (paragraph 4.135)  
4.135 Another important regulatory development is the ongoing development of a Code of Conduct 
on Competition in the Provision of Telecommunications and Media Services. The Code will replace 
the existing competition codes for the telecommunications and media sectors (respectively, the Code 
of Conduct on Competition in the Provision of Telecommunications Services (2012) and the Code of 
Market Conduct in the Provision of Media Services). The Code aims to promote fair and efficient 
competition, safeguard consumer protection, improve regulatory clarity by harmonizing 
IMDA's  regulatory requirements, and keep pace with technological advances and market 
developments. IMDA held two public consultations to this effect, in February 2019 and J anuary  2021. 
Notable changes to the Code include the adoption of a common regulatory approach to the 
classification of dominance and a threshold to be used for the initial assessment of significant market 
power in both the telecommunications and media markets, pr ohibiting telecommunications licensees 
from making unfavorable or detrimental changes during the term of the contract, and requiring all 
licensees to provide a list of minimum billing information in order to better protect the interests of 
consumers.  
Quest ions: 
18. In relation to the Code of Conduct on Competition in the Provision of 
Telecommunications and Media Services currently being drafted, what were the main 
outcomes of the public consultations held February 2019 and January 2021?  
Response 18:  IMDA is cu rrently reviewing responses from the second consultation. The individual 
responses can be found in the link: http://www.imda.gov.sg/regulations -and-
licensing/Regulations/consultations/Consultation -Papers/2019/consultation -for-converged -
competition -code 
19. Has there been any collaboration for the development of this Code of Conduct 
between IMDA and CCCS?  
Response 19 : While IMDA is the regulatory authority for competition matters in the telecom and 
media sectors, IMDA has consulted with CCCS on the drafting of the Code of Practice for Competition 
in the Provision of Telecommunication and Media Services.  
Technical Barriers to Trade (TBT)  
Page 66 (paragraph 3.75)  
3.75. The CPSR regulates specific categories of household appliances, electronics and gas appliances 
included in a list of "controlled products". Such products must meet applicable safety requirement s 
through pre -market testing, certification and registration, and must bear the safety mark in order 
to be supplied, displayed and/or advertised in Singapore. A supplier's declaration of conformity may 
be accepted for certain categories of controlled produ cts that are considered to be relatively low risk. 
Under an amendment to the CPSR, which came into effect on  15 January 2018, obsolete products 
were removed from the list of controlled products, bringing the number of product categories from 
45 to 33. The list is reviewed every three to five years.  
Question:  
20. How are the categories of low -risk products that are eligible to submit a supplier's 
declaration of conformity defined?  WT/TPR/M/413/Add.1  
 
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  Response 20 : Reviews on the risk -level of the product categories are conducted o n a regular basis. 
Factors that are considered include the hazards posed, the likelihood of incidents occurring, and the 
availability of the product.  
Singapore Report  
Questions on State -Owned Enterprises  
Page 13 (paragraph 4.5)  
4.5 In August 2018, the Sing apore Association of Banks, in close collaboration with MAS, launched 
the PayNow Corporate platform, which extends the capabilities of PayNow. PayNow Corporate 
enables SMEs to not only accept real -time, no - or low -fee account -to-account payments using only  
a surrogate identifier with their unique entity number (UEN), but also facilitates seamless payments 
between vendors and suppliers across the entire supplier value chain.  
Question:  
21. Is this in reference to "commissions"?  
Response 21: Assuming that commis sions in this question refer to PayNow fees, please note that 
each PayNow participant (bank or non bank financial institution) is entitled to impose fees for its 
PayNow services, which differ among service providers.  
More information on PayNow is on this page which is hosted by the Association of Banks in Singapore 
that is the scheme owner for PayNow.  
https://www.abs.org.sg/consumer -banking/pay -now 
Page 13 (paragraph 4.7)  
4.7 Singapore's broader national digital identity infrastructure has enabled greater online 
convenience and security of transactions between government agencies, citizens and businesses. 
Since 2016, businesses and other entities in Singa pore have transacted online with government 
agencies using Corppass, a corporate digital identity for accessing digital services that is based on 
corporate -assigned rights and roles.  
Question:  
22. We would appreciate to know how this digital platform works . 
Response 22:  Singapore's National Digital Identity initiative (NDI) was introduced to provide better 
convenience and security for citizens when transacting online with both public and private sector 
digital services. With secure and efficient authentication process and digital authorisation capability, 
NDI's suite of products empowers private and public sectors to develop value -added services based 
on a universal trust framework. More details can be found at:  
https://api.singpass.gov.sg/library/myinfo/business/implementation -key-principles   
Corppass (or Singapore Corporate Access) is an identity and authorisation system for business 
entities to access and manage d igital service access of employees/individuals who transact in a 
business capacity with the Government. In the future, these digital services will include corporate 
digital signing and login access for B2B transactions.  
The extension of Corppass identity and authentication services forms a corporate digital identity 
initiative, further enabling business entities to capture economic opportunities presented by the 
digital economy.  WT/TPR/M/413/Add.1  
 
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  Page 13 (paragraph 4.8)  
4.8 To make it more convenient for users to conduct on line transactions with government agencies, 
Myinfo was introduced in 2016 with the aim of minimizing the need to provide and verify the same 
personal data repeatedly.  
Question:  
23. Is Myinfo a limited -use or public personal and business data cell?  
Response 2 3: Myinfo is comprised of personal data while Myinfo business  can retrieve corporate 
and personal data  
Myinfo  enables citizens and residents to manage the use of their personal data for simpler online 
transactions. Users can share their data by providing c onsent via Singpass and organisations no 
longer have to deal with manual data management. This results in less form filling and higher data 
quality, as the data comes from Government sources.  
Myinfo business  is a service that enables businesses to manage the use of its corporate and 
applicant's personal data for simpler online transactions. Business users leveraging on Singpass can 
control and consent to share their data securely with participating businesses for more seamless 
digital transactions. Similar ly, businesses can enjoy less form -filling and a reduced need for providing 
supporting document for verifications.  
 WT/TPR/M/413/Add.1  
 
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  KOREA, REPUBLIC OF  
PART I: Questions Regarding the Secretariat Report   
Page 8 (Para 1.15, Para 3.19)  
1.15. Under Singapore's applied MFN tariff schedule, all products are zero -rated, except for four 
tariff lines corresponding to two product categories (stout or porter; and other beer made from malt, 
including ale). Some 30% of all tariff lines are unbound , which could impart some degree of 
unpredictability to traders . A consumption tax (Goods and Services Tax) is levied on imported and 
domestically supplied goods at a rate of 7%. Excise duties are levied on local and imported alcohol 
beverages, tobacco and  tobacco products, motor vehicles and motor fuels; the duties on tobacco 
products and motor fuels increased during the review period. Import prohibitions and import 
WT/TPR/S/413 • Singapore - 9 - licensing requirements (mostly non -automatic) are applied ma inly 
for health, safety, security, and environmental purposes, or to comply with international 
agreements. The overall framework for import controls remained fundamentally unaltered.  
3.19. As part of its Uruguay Round market access commitments, Singapore b ound 69.6% of its tariff 
lines (100% of the tariffs on agricultural products and 65.1% of the tariffs on non -agricultural 
products).  The fact that some 30% of tariff lines remain unbound could impart some degree of 
unpredictability to trade operators. Most  bound tariffs are ad valorem, and range from 0% to 10%. 
The simple average bound rate is 6.6% (Table 3.3).  
Question 1  
As indicated in para 1.15, and para 3.19 of the Secretariat's report, some 30% of all tariff 
lines are unbound. Could the authorities of Singapore explain whether there have been 
any developments regarding its level of tariff bindings as well as the differ ential between 
bound and applied rates since the last trade policy review?  
Response 1:  There have been no changes to Singapore's tariff bindings since the last trade policy 
review. However, Singapore has temporarily eliminated the applied import tariff ra tes for 4 tariff 
lines on samsu, in accordance with the Declaration on Trade in Essential Goods for Combating the 
COVID -19 Pandemic between Singapore and New Zealand.  
Page 25 (Para 1.39)  
1.39. In terms of sectoral composition, financial and insurance servi ces remain by far the largest 
recipient of FDI, with 50% of total inflows in 2019, followed by manufacturing (29%) and wholesale 
and retail trade (15%). The share of the professional, scientific and technical, administrative, and 
support services notably d ecreased from 20.4% in 2015 to 1.4% in 2019.  
Question 2  
Are there any areas that Singapore restricts foreign direct investment (FDI)? If so, could 
Singapore please specify which areas they are and the reasons for such restrictions?  
Response 2:  Singapore ha s an open and transparent investment regime with minimal restrictions 
that is facilitative to businesses and investors. Sectors that may have national security 
considerations, e.g., in telecommunications, may have restrictions in place. Existing restrictio ns as 
well as relevant laws and regulations they derive from are clearly inscribed in the FTAs Singapore 
has concluded with WTO Members, including ROK.  
Page 46 (Para 3.22)  
3.22. The GST is a consumption tax levied on both imported and domestically supplied  goods and 
services at the standard rate of 7%, which has remained unchanged since the previous Review. A 
zero-rate applies to the export of goods and the supply of international services.15 On imports of 
goods, the GST is collected by Singapore Customs at  the point of entry and is based on the c.i.f.  value 
of the goods, plus import duty and any other applicable charges, such as excise duty. 
Since  January  2020, GST has been extended to imported services, with the tax levied on imported WT/TPR/M/413/Add.1  
 
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  business -to-business  services and business -to-consumer digital services via a reverse charge 
mechanism and an overseas vendor registration mechanism, respectively. Supplies exempt from 
GST include most financial services, the sale or lease of residential property, investment -grade gold 
and precious metals, and since 1 January 2020, digital payment tokens that are exchanged for other 
tokens or for currency  
Question 3  
Could Singapore please explain why digital payment tokens( DPT) have been exempt from 
the GST since 1 January 2020? Please provide additional information on how such 
exemptions as financial services, the sale or lease of residential property, and DPT from 
GST were identified.  
Response 3:  We review periodically ou r GST treatment, taking into account the treatment in other 
jurisdictions which also have value -added taxes.  
For instance, Singapore's GST treatment of financial services is similar to that in many jurisdictions 
such as Canada, Australia, New Zealand, and  the United Kingdom. Supplies of financial services, are 
typically exempt from value -added tax as the value -added component of the service cannot be easily 
segregated. For example, interest imposed on a loan may include elements reflecting the risk of the 
loan and the real cost of capital. There can also be possible tax cascading due to the multiple times 
a financial instrument is traded. GST is still levied where there are explicit fees for financial services 
(e.g. brokerage fees).  
In the case of digital p ayment tokens (DPTs), the GST exemption of DPTs with effect from 
1 January 2020 reflects the characteristics of DPT i.e. that they are or are intended to serve as 
medium of exchange.  
Page 58 (Paras. 3.59 -3.64)  
3.59. Singapore has regularly notified the WTO  that it does not grant or maintain any subsidy 
notifiable under Article XVI:1 of the GATT 1994 and Article 25.2 of the Agreement on Subsidies and 
Countervailing Measures.[…]  
3.61. The main legal basis for the granting of tax incentives are the Income Tax  Act and the Economic 
Expansion Incentives Act. Tax incentives usually provide some kind of relief from corporate income 
tax and/or withholding tax, and can take the form of tax exemptions, tax breaks, rebates and 
concessionary rates, deductions of eligibl e expenses from taxable income, and allowances on 
qualifying costs incurred. Non -tax incentives include financial assistance programmes, co -funding, 
and grants.  
3.62. Some incentives schemes are targeted to specific industries or activities, such as financ ial 
services, tourism, shipping and maritime services, processing services, R&D, headquarters activities, 
legal services, e -commerce, and events organization. Depending on the type of incentive, the 
schemes are administered by various government agencies, including ESG, the Singapore Economic 
Development Board (EDB), the IRAS, the Monetary Authority of Singapore (MAS), and the Maritime 
and Port Authority of Singapore (MPA).  
3.63. Certain tax incentives require no prior approval (such as the tax deduction fo r R&D), so 
companies may avail themselves of these incentives when they file their annual tax returns, as long 
as they engage in qualifying activities. […]  
Question 4  
Could Singapore please elaborate in more detail on (i) Singapore's subsidy schemes 
(inclu ding tax incentives per para. 3.61) in terms of their beneficiaries and types and level 
of subsidization, and (ii) on which grounds Singapore considered they fall outside the SCM 
Agreement (e.g. lack of subject matter jurisdiction per para. 3.62, or lack o f specificity 
under Article 2.1(b) of the SCM Agreement in light of para. 3.63)?  WT/TPR/M/413/Add.1  
 
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  Response 4:  The information on these schemes is readily available online, in the English language, 
and can be accessed on the website of the following administering agencies:  
<https://www.mof.gov.sg/policies/taxes/corporate -income -tax > 
<https://www.enterprisesg.gov.sg/financial -assistance/grant >  
< https://www.edb.gov.sg/en/how -we-help/incentives -and-schemes.html > 
Singapore does not consider these schemes to be notifiable unde r the SCM Agreement as they are 
available to companies based in Singapore across different sectors, and open to both local and 
foreign companies. They are also not contingent on the company's export performance or local 
content requirements.  
Page 87 (Para 4.35)  
4.35. The contribution of manufacturing to GDP increased to 21.5% in 2020, up from 18.0% in 2015. 
Overall employment in manufacturing declined by 8.4% from 400,173 persons in 2015 to 366,579 
in 2020, while total output and total value added grew by 9 .7% and 27.5%, respectively, during the 
same period, showing a marked productivity improvement (Table 4.2).  
Question 5  
According to Table 4.2, total output has been increased from SGD 28.3 billion in 2015 to 
SGD 310.34 billion in 2020, which is described as a 9.7% growth rate in para 4.35. 
Statistical check is required . 
Response 5:  There was a typographical error in the data on total output in 2015 in Table 4.2. It 
should be S$283.0 billion instead of S$28.3 billion, which will then result in the  9.7% growth in 
output in 2020 over 2015.  
In addition, the 2015 figures for "Printing" and "Food, beverages & tobacco" in Table 4.2 were 
swapped. For instance, the output share of "Printing" in 2015 should have been 0.8% rather than 
3.7%, and vice versa fo r "Food, beverages and tobacco". Moreover, under the ITM sector remarks, 
"Yes (except for tobacco)" should refer to "Food, beverages & tobacco" instead of "Miscellaneous 
industries", as food & beverage manufacturing (and not tobacco) is one of the Industry  
Transformation Maps (ITMs) sectors.  
The 2015 figures cited in Table 4.2 were based on preliminary 2015 data (which were published in 
the Annual Economic Survey of Singapore 2015) and have since been revised.  
Page 90 (Para 4.44)  
4.44. The precision enginee ring sector, with its 2,700 companies, remains the largest manufacturing 
employer, with over 93,000 jobs in 2019 (up from 2,000 in 2015). While the sector's relative shares 
in both total manufacturing output and total manufacturing value declined during th e review period, 
they grew in absolute terms. The sector plays a crucial role in improving manufacturing processes 
and providing critical support to a wide range of businesses, such as the semiconductors, marine 
and offshore, aerospace, and medical technol ogy industries. Its ITM was one of the first to be 
launched, in October 2016, with the objective of creating 3,000 additional jobs and a value added 
of SGD  14 billion by 2020.)  
Question 6  
It states that the employment of the precision engineering sector in creased from 2,000 in 
2015 to 93,000 in 2019, even though the share of the precision engineering sector in the 
manufacturing sector decreased in terms of total production and added value during the 
review period.  
1) According to Table 4.2, the share of th e precision engineering sector has not 
decreased. Statistical check is required.  WT/TPR/M/413/Add.1  
 
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  2) Could Singapore please elaborate on the background of such large -scale increase in 
employment of the precision engineering sector?  
Response 6:  The employment in 2010 was u p by (not from) 2,000 compared to 2015 levels. We 
have requested for the Secretariat to update the Secretariat Report with the correct number.  
Pages 10 -11 (Para 3.11)  
3.11. As a small island city -state, Singapore has limited natural resources to generate alternative 
energy. Nonetheless, we will meet our commitments under the Paris Agreement and aspire to 
achieve net -zero emissions as soon as viable in the second half of the century. To achieve this, we 
are investing in low -carbon technologies, tapping on r enewable energy at home and from the region 
and electrifying our vehicles. We are also developing Singapore into a carbon trading and services 
hub for the region, and reviewing our carbon tax to encourage companies to become more carbon 
efficient  
Question 7 
Please elaborate on the revisions currently being considered concerning the carbon tax 
including its level and on the related procedures for the implementation of those revisions. 
In addition, could Singapore provide details about the sectors or projects  being funded by 
the carbon tax revenue?  
Response 7:  Recognising that the effects of climate change have intensified and global momentum 
to address climate change has accelerated significantly, the Government is reviewing the level and 
trajectory of the ca rbon tax post -2023. As part of the review, we will take into account international 
climate change developments, the progress of our domestic mitigation efforts in meeting our climate 
change targets, the impact on households and businesses, our economic com petitiveness, and the 
role of the carbon tax in stimulating the development of our green economy.  
To support our industries in improving energy and carbon efficiency, the Government has been using 
the carbon tax revenue collected to support companies to i mprove energy efficiency improvement 
opportunities and reduce emissions. These include schemes such as the Resource Efficiency Grant 
for Energy and the Energy Efficiency Fund for the manufacturing sector and data centres, as well as 
the Genco Energy Effici ency Grant Call for power generation companies.  
Page 11 (Para 4.4)  
4.4. Launched in April 2017, the SMEs Go Digital programme by the Infocomm Media Development 
Authority (IMDA) made going digital simpler for SMEs, with more than 63,000 adopting digital 
solutions from the programme as of March 2021. As part of the programme, sector -specific Industry 
Digital Plans, which are aligned with their respective ITMs, have provided SMEs with a step -by-step 
guide on digital solutions and relevant employee training at different stages of their growth. 
In June 2020, the programme was expanded to include Grow Digital, which helps businesses 
participate in Business -to-Business (B2B) and Business -to-Consumer (B2C) e -commerce platforms 
to sell overseas without a need for in -market physical presence.  
Page 12 (Para 4.6)  
4.6. To develop a global digital infrastructure for seamless trade and digital business services 
connectivity between SMEs, businesses and ecosystems worldwide, MAS and IMDA launched 
Business sans Borders (BSB).  BSB leverages on machine learning to seamlessly integrate trade 
discovery, financing and key business services across regions, enabling SMEs' access to available 
financing/financial services and logistics support to complete trades. BSB was operationalize d as 
Proxtera in late 2020 and has rapidly grown to connect with numerous SME ecosystems and B2B 
platforms in ASEAN, South Asia and Africa. More specifically, in the financial services sector, the 
MAS-supported API9 Exchange (APIX) is the world's first cro ss-border, open -architecture platform 
which enables financial institutions and FinTech firms to (i) connect to one another through an 
international marketplace; (ii) conduct collaborative experiments in a bespoke sandbox amongst 
financial industry particip ants; and (iii) drive adoption of APIs for digital transformation and financial 
inclusion across the Asia -Pacific.  WT/TPR/M/413/Add.1  
 
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  Question 8  
Could Singapore please provide more detailed information on the Go Digital programme 
and Business sans Borders? Or is there any we bsite or materials to which we can refer to 
know more about these best policy practices?  
Response 8 : Go Digital programme  
The Singapore government provides various forms of targeted support to SMEs thrive in an 
increasingly digitalised economy. We support  and encourage the digital transformation of businesses 
with a range of initiatives that reduce the complexity of evolving technologies, through the SMEs Go 
Digital programme. SMEs can tap on the following:  
• Pre-approved digital solutions with up to 80% o f the costs defrayed by the Productivity Solutions 
Grant (PSG). The pre -approval of digital solutions for government co -funding support are guided by 
the Industry Digital Plans, and include business capability solutions (e.g. accounting, HR/payroll, 
cybers ecurity) that benefit SMEs from all sectors;  
• Foundational digital solutions in Start Digital Packs for newly incorporated SMEs at no cost for at 
least 6 months;  
• Grow Digital solutions, with up to 70% grant support; and  
• Advanced Digital Solutions (ADS) initiative that was introduced amidst COVID -19 to enable SMEs 
to strengthen business continuity and build resilience with advanced and integrated digital solutio ns 
with up to 80% grant support.  
These digital solutions are brought together to address SMEs' needs in the different sectors, as 
defined under the Industry Digital Plans that are developed and launched with the respective sector 
lead agencies and industry  partners. For more information on the SMEs Go Digital programme, 
please visit www.imda.gov.sg/SMEsGoDigital.  
Business sans Borders (BSB)  
Business sans Borders (BSB) is a joint initiative by MAS and Infocomm Media Development Authority 
to provide an open and global digital infrastructure for seamless trade discovery, financial services 
and digital business services connectivity. Further information is available at 
https://www.imda.gov.sg/programme -listing/BSB ---Trade -without -Barriers.  WT/TPR/M/413/Add.1  
 
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  EUROPEAN UNION  
WT/TPR/S/413 – WTO Secretariat's Report  
SUMMARY SECTION  
Paragraph 11, page 8  
The Secretariat 's report states: "There have been no major changes to Singapore's investment 
regime since its last Review. The general policy is to attract foreign investment, and local and foreign 
investors are subject to the same basic laws. There are, however, some li mitations on foreign 
ownership and on business scope, and certain residency restrictions on sectors considered as 
strategic and/or critical for national security, such as broadcasting, domestic news media, retail 
banking, legal and accounting services, por ts and airports, and residential property ownership".  
EU Question N°1: According to the Secretariat report (§11), Singapore maintains some 
investment restrictions. Could Singapore explain what is the nature and the justification 
for these restrictions? Doe s the Government have any plans to liberalise these sectors, 
particularly retail banking or legal and accounting services?  
Response 1:  Singapore has an open and transparent investment regime with minimal restrictions 
that is facilitative to businesses and  investors. Sectors that may have national security 
considerations, e.g., in telecommunications, may have restrictions in place. Existing restrictions as 
well as relevant laws and regulations they derive from are clearly inscribed in the FTAs Singapore 
has concluded with WTO Members, including with the EU.  
In financial services, the Monetary Authority of Singapore (MAS) introduced the Qualifying Full Banks 
(QFBs) in 1999 which are able to access the retail banking market. New QFBs have since been 
awarded un der FTAs where there are substantial benefits to Singapore. The continued evolution of 
Singapore's QFB framework is aimed at allowing QFB banks to build a deeper presence and be better 
rooted in Singapore. Singapore does not preclude further liberalisation  measures in a way that 
continues to strengthen our banking sector whilst maintaining confidence and stability in the financial 
system.  
Singapore has one of the most liberal regimes for the practice of foreign and international law and 
international arbitr ation in the region.  
Foreign law practices (FLPs) with licensed offices in Singapore may offer the full range of legal 
services in foreign law and international law which they are qualified to provide through registered 
lawyers, and in international arbit ration. Licenced FLPs in Singapore can be fully foreign -owned.  
FLPs accorded a Qualifying Foreign Law Practice (QFLP) licence may offer the full range of foreign -
law-related legal services, and may practise Singapore law in permitted areas of legal practic e 
(essentially commercial areas of law) through Singapore -qualified Lawyers, or Foreign Lawyers who 
have obtained a Foreign Practitioner Certificate (FPC).  
A FLP may also apply to the Legal Services Regulatory Authority to enter into Joint Law Ventures 
(JLV) with a Singapore Law Practice (SLP), creating a new legal entity in which the constituent 
foreign law practice may hold a profit/equity stake. A JLV may practise Singapore law in the same 
permitted areas of legal practice as QFLPs through employing the ir own Singapore -qualified Lawyers, 
or Foreign Lawyers who have obtained a FPC.  
SLPs, which primarily provide Singapore law -related services, are generally required to be 
majority -owned by Singapore lawyers. However, registered foreign lawyers and foreign law practices 
can hold up to one -third of the total value of equity interests in a SLP. Non -lawyer employees 
registered with the Legal Services Regulatory Authority as regulated non -practitioners (RNPs), who 
can be foreign nationals, may also hold up to 25 % profit/equity share in SLPs. Together, foreign 
lawyers, foreign law practice entities and RNPs can hold up to 35% in an SLP.  
For accounting services, the barriers of entry into Singapore faced by foreign professionals today 
are low. The ownership and res idency restrictions in place for public accountants and public WT/TPR/M/413/Add.1  
 
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  accounting firms are necessary to preserve the professional standards and accountability of the audit 
industry.  
1 ECONOMIC ENVIRONMENT  
Paragraph 1.7, page 14  
The Secretariat's report states: "T o address these medium -term challenges, Singapore embarked 
on a reform agenda of economic transformation based on the recommendations issued by the 
Committee on the Future Economy (CFE) in 2017. The goal is to build a value -creating economy 
that is open an d connected to the world, by building skills and capabilities and supporting innovation 
and digitalization. The new economy is expected to offer meaningful job opportunities and 
sustainable wage growth to all Singaporeans. To achieve this vision, the CFE i dentified seven 
strategies8, including the development and implementation of Industry Transformation Maps to 
promote growth and competitiveness in 23 economic sectors (manufacturing and services), which 
cover about 80% of Singapore's GDP (Section 4). In th e same vein, a number of incentive schemes 
have been implemented for individuals and businesses to promote automation and the adoption of 
new technologies".  
Singapore's work within the CFE leading to the ITM seems to adopt an approach similar to the EU 
with its transition pathways announced by the update of the industrial policy strategy in March 2021. 
Singapore's ITM are aimed to roll out actions in 23 specific sectors to support their growth and 
competitiveness, as well as deepen and intensify internation al connections. Seen the possible 
parallelism with the EU ongoing work and to step up cooperation with Singapore on industrial policy, 
it would be useful to learn more about how Singapore aims to implement them, which KPIs will be 
used to monitor them, and  how "deepening and intensification of international connections" were 
determined (and for which sectors more specifically).  
EU Question N°2: Could Singapore detail more precisely how it intends to implement and 
monitor the actions included in the ITMs? In  addition to growth and competitiveness will 
these look also at the digital/green transition of the specific sectors? In addition, could 
Singapore clarify in which sectors CFE is specifically looking to "deepen and intensify 
international connections" and how are these intended to be implemented?  
Response 2:  The Future Economy Council (FEC) was set up in 2017 to drive the growth and 
transformation of Singapore's economy for the future. It also oversees the implementation of the 
recommendations put forth by the Committee on the Future Economy (CFE). The FEC comprises 
stakeholders from the Government, businesses, trade associations and chambers, unions, and 
academia.  
As part of its work, the FEC oversees development and implementation of the Industry 
Transfor mation Maps (ITMs), including monitoring the strategies under each ITM. Building strong 
digital capabilities is one of the strategies identified by the CFE, and is a key part of all the ITMs. 
Arising from COVID -19, there has been an increased focus on sust ainability, and the FEC is also 
looking at seizing growth opportunities from sustainability.  
Deepening and diversifying our international connections is one of the seven strategies 
recommended by the CFE. As a small and open economy, the CFE recommended th at Singapore 
must resist protectionism and forge ahead to deepen linkages with our overseas partners and seek 
opportunities in new markets. This applies to all the ITM sectors. Singapore's public officers, 
businesses, and individuals should build strong ti es with our overseas counterparts, and strengthen 
economic cooperation with other countries and regions. For example, Singapore has established 
Digital Economy Agreements that seek to shape international rules and establish digital economy 
collaborations, with countries such as Australia, Chile, and New Zealand.  
Paragraph 1.8, page 14  
The Secretariat's report states: "As part of its structural reform agenda, the Government intends to 
gradually increase its local workforce, especially in areas where there are skills shortages, while 
maintaining "a measured dependence" on lower -skilled foreign labour. In the budgets for the most 
recent three fiscal years, a plan for reducing reliance on foreign workers at the lower - and mid -WT/TPR/M/413/Add.1  
 
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  skilled levels was announced , which is being implemented in phases from 2020 to 2023. At the same 
time, the policy with respect to the foreign workforce was adjusted in FY 2020 to support the inflow 
of higher -skilled foreigners".  
EU Question N°3: In the recent months, Singapore intro duced measures aiming at 
increasing employment opportunities for Singaporeans and limiting reliance on foreign 
workers. However, not in all sectors, there is sufficient talent pool with the necessary 
skills. At the same time, Singapore wants to maintain it s role as regional hub open for 
business and to international talent. How is Singapore going to ensure that with the 
introduction of new approach to employment passes approvals (including for all different 
kind of visas, in particular those for mid -income foreign workers) the more restrictive 
approach does not result in shortages on the employment market and negatively impact 
Singapore's hub status? Is Singapore planning to introduce any other reforms of the 
employment pass system to make it more flexible i n addressing the employment market 
needs in order not to hamper innovation/sectors requiring specific skills not easily found 
locally?  
Response 3:  Singapore is committed to remain an open and connected hub for international 
businesses. Singapore's foreign workforce policies have always strived to ensure that the foreign 
workforce complements the local workforce. We regularly update our work pass criteria to keep 
them current and responsive. The work pass salary criteria is updated from time to time in the l ight 
of prevailing conditions. We also strengthened the Fair Consideration Framework, which encourages 
fair employment practices that are open, merit -based, and non -discriminatory. The changes are 
meant to promote greater awareness in mid -skilled jobs to l ocal jobseekers, and give more time for 
local jobseekers to respond to job openings.  
We constantly review our policies, taking into account feedback from stakeholders so as to achieve 
our objectives of a strong local workforce, complemented by a diverse f oreign workforce.  
Paragraph 1.35, page 24  
The Secretariat's report states: "After six years of posting deficits in the trade in services balance, 
in 2018 Singapore became a net exporter of services, recording a surplus of SGD 8.9 billion. The 
surplus widen ed the two following years to reach SGD 20.5 billion in 2020. However, the positive 
balance in 2020 was due to a smaller fall in services exports than in imports, rather than to an 
expansion in exports. Reflecting the restrictions on international mobility  associated with the COVID -
19 pandemic, in 2020 services exports actually declined by nearly 13% on account of a sharp 
contraction in exports of travel services, transport services, and other business services, which more 
than offset moderate increases in exports of financial services and insurance services. Services 
imports saw a bigger contraction ( -16%) in 2020, which was also attributable to significant decreases 
in imports of travel services, transport services, and other business services".  
EU Questio n N°4: How does Singapore address certain restrictions in terms of researcher 
mobility, which sometimes result in discontinuation of exchanges/cooperation? How have 
restrictions of international mobility affected scientists coming to Singapore (e.g. in ter ms 
of total number of visas issues vs. total number of applications)?  
Response 4:  In view of the global COVID -19 situation all travellers are also subjected to prevailing 
border health measures upon entry into Singapore. These measures protect Singapore re sidents 
(including foreign scientists and researching residing in Singapore) from the heightened risk of 
importation of COVID -19 cases into Singapore.  
Entry approval requirements are applied across all industries, and are not intended to impede 
internatio nal exchanges and cooperation, which remain important to Singapore.  
3 TRADE POLICIES AND PRACTICES BY MEASURE  
Paragraph 3.45, page 56  
The Secretariat's report states: "ESG's broad -based assistance also includes financial support 
programmes operated in coll aboration with private financial institutions (Section 3.2.5), as well as WT/TPR/M/413/Add.1  
 
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  tax incentives schemes (Section 3.3.1). Among the financial support programmes, the Market 
Readiness Assistance scheme is specifically targeted to companies' internationalization eff orts: it 
provides financial assistance to companies embarking on promotional activities and identifying 
business partners in new overseas markets (Table A3.1)".  
EU Question N°5: What is the total amount of the Market Readiness Assistance Grant and 
the leve l of non -reimbursable funds involved?  
Response 5:  The amount of Market Readiness Assistance provided for CY2020 is S$14 million.  
The grant support is provided on a reimbursement basis, where companies are supported at 
70%/80% of eligible expenses, and co mpanies will incur the remaining expenses. This is a cost -
sharing model to ensure that the companies demonstrate strong commitment to the projects.  
Paragraph 3.59, page 58  
The Secretariat's report states: "Singapore has regularly notified the WTO that it d oes not grant or 
maintain any subsidy notifiable under Article XVI:1 of the GATT 1994 and Article 25.2 of the 
Agreement on Subsidies and Countervailing Measures".  
EU Question N°6: Is that because Singapore considers that it does not grant any subsidy 
withi n the meaning of Article 1(1) ASCM, or because these subsidies are not considered 
specific within the meaning of Article 2 ASCM?  
Response 6:  Singapore does not grant or maintain any notifiable subsidies as they are available to 
companies in Singapore acro ss different sectors, and open to both local and foreign companies. They 
are also not contingent on the company's export performance or local content requirements.  
Paragraph 3.70, page 59  
The Secretariat's report states: "As at the end of December 2020, Si ngapore had a total of 821 
standards, of which 448 were adopted from international standards".  
EU Question N°7: As the definitions of what is an international standard differ among 
countries, could Singapore elaborate on which international standardisation  bodies are 
meant in paragraph 3.70? How many of the 270 Singapore Standards made mandatory in 
Singapore by making them Technical Regulations result from adoptions of international 
standards, and how many are purely national standards? Could you please bre ak them 
down by sectors? Which international standardisation bodies have developed the 
international standards adopted by Singapore and made Technical Regulations in the 
country?  
Response 7:  Alignment of national standards to international standards remain s a core principle of 
Singapore's standardisation policy. Singapore encourages the adoption of international standards 
whenever possible.  
International standardisation bodies refer to international standards bodies recognised by WTO such 
as ISO and IEC. En terprise Singapore is the member body from Singapore in the ISO and IEC.  
As the national standards body, Enterprise Singapore facilitates the adoption and development of 
international and Singapore standards, and industry -related technical references. The se are based 
on the needs of the industry and government, and guidelines set by international standards bodies.  
270 national standards are referred in technical regulations in Singapore, of which 60% are 
adoptions of international and overseas standards. T he estimated breakdown by sectors of these 
270 national standards are as follows:  
• Building and construction: 55%  
• Manufacturing: 40%  WT/TPR/M/413/Add.1  
 
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  • Services: 5%  
Paragraph 3.76, page 61  
The Secretariat's report states: "The CGSR regulates many other general consumer goods, such as 
toys, children's products, apparel, sports and recreation products, furniture, mattresses and 
bedding, and "do -it-yourself" tools. For these products, compliance with specified safety 
requirements is verified through post -market sur veillance activities. Prior testing, certification, or 
approval is not required".  
EU Question N°8: Could Singapore elaborate on their Market Surveillance Regime (i.e. 
legal basis, authorities) and how it is organized in practice?  
Response 8:  With reference  to paragraph 3.76 of the Secretariat's Report, Enterprise Singapore 
conducts post -market surveillance on consumer goods regulated under the Consumer Protection 
(Consumer Goods Safety Requirements) Regulations. Goods are sampled from the market and 
tested to applicable international or regional safety standards to verify their compliance.  
Suppliers of goods that are found to be unsafe are notified and given the opportunity to rectify the 
safety issues. Suppliers who do not do so are directed to cease the su pply of such goods.  
Paragraph 3.79, page 61  
The Secretariat's report in footnote 45 states: "The Enterprise Singapore Board (Conformity 
Assessment) Regulations were amended in 2018 to allow ESG to accept a certificate of conformity 
issued by a designated c onformity assessment body located in countries that are parties to the 
European Union -Singapore FTA for the registration of Controlled Goods".  
EU Question N°9: Could Singapore provide information on the designated (accredited) 
foreign owned Conformity Assessment bodies, as well as Testing and Inspection service 
providers? Please provide such information in general terms and in particular regardin g 
EU member states.  
Response 9:  With reference to paragraph 3.79 of the Secretariat's Report, most of the designated 
Conformity Assessment Bodies (CABs) have overseas headquarters. The European based 
headquarters of such CABs are:  
• TUV SUD – Germany  
• Intertek – UK  
• SGS – Switzerland  
In addition, designated CABs that are able to conduct testing can be located in territories such as 
Germany, China, Korea, New Zealand and Italy.  
Paragraphs 3.101 to 3.107, page 65  
EU Question N°10: Can Singapore specify by  when the terrestrial health code of the OIE 
will be implemented with regard to the removal of Specified Risk Material from bovine 
carcasses?  
Response 10:  Singapore is conducting a review of the import conditions for beef and beef products. 
Singapore will issue a WTO notification on the revised import conditions once the review has been 
completed. The target date for completion of the review is end 2021.  
Table 3.9, page 68  
EU Question N°11: Based on the data provided in Table 3.9 on competition statistics a nd 
data from the website of the Competition Commission of Singapore (CCS), there seem to WT/TPR/M/413/Add.1  
 
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  be a significant level of preliminary enquiries, investigations and leniency applications. 
Still, there seems to be very few infringement decisions by the CCS in the a rea of 
restrictive agreements and abuse of dominance. Could Singapore please elaborate on the 
reasons for this low number of infringement decisions?  
Response 11:  Between financial year 2015 and 2019, CCCS issued six infringement decisions, 
averaging over o ne a year, and closed some of its biggest cases to date. This included an 
international cartel on ball bearings, a local case involving fresh chicken distributors where the total 
turnover of the parties amounted to half a billion dollars annually, as well as a significant case on 
the substantial lessening of completion due to a merger in the ride -hailing industry.  
CCCS closed several abuse of dominance cases by way of commitments offered by the undertakings. 
These include four cases relating to lift mainten ance and repair, one relating to the practice of 
supplying draught beer to retail outlets solely on an exclusive basis, as well as a case relating to the 
supply of cord blood bank services.  
Paragraph 3.176, page 79 and Table 3.5, page 48  
The Secretariat's report states: "Singapore's ports remain leading transit points for global trade in 
counterfeit goods. The OECD and the European Union Intellectual Property Office (EUIPO) ranked 
Singapore 25th as a provenance economy in terms of its propensity to export c ounterfeit products. 
In 2017, the International Chamber of Commerce estimated the value of counterfeit goods in 
Singapore at USD 269.3 million".  
EU Question N°12:  Due to the deficiencies encountered by certain e -commerce platforms in the 
region in the figh t against counterfeiting (reinforced by the role of free zones in the transit of these 
goods, which makes Singapore one of the main crossing points to Europe), what measures does the 
city-state intend to take to strengthen the protection of intellectual pr operty rights on the internet 
and to lower the number of counterfeit goods that are sold to consumers in Singapore via e -
commerce platforms?  
Response 12:  Singapore takes regular enforcement action against the sale of counterfeit goods, 
regardless of whethe r it is in stores or online. We also support the development of industry self -
regulation and the dissemination of best practices to tackle the sale of counterfeit goods through e -
commerce platforms. Cooperation between rights -holders and e -commerce platfor ms to identify and 
delist sales of counterfeits, and to ban sellers of counterfeit goods, offers a simpler, faster, and 
cheaper alternative to conventional enforcement through the legal system and the Courts.  
Singapore takes a strong stance against all fo rms of illicit trade in our free trade zones, and disagrees 
with the characterisation of its free trade zones. Singapore adopts a risk -based approach towards IP 
border enforcement due to the rapid turnaround time for transhipped cargo, and works with right s-
holders and overseas customs authorities who provide actionable information to identify and seize 
infringing and counterfeit goods. Where infringing and counterfeit goods are consigned to a local 
party, Singapore will take ex officio enforcement action t o seize the goods without the need for a 
search warrant and notify the rights -holders. Where there is no local consignee, Singapore will pass 
the information to its counterparts at the destination country so that effective enforcement can be 
undertaken the re. 
EU Question N°13: To combat counterfeiting, improve traceability and increase consumer 
protection, will legislation be introduced to mandate the use of lot/batch codes for 
alcoholic beverages which can only be affixed by the manufacturer/brand owner an d to 
make it illegal to tamper with the original manufacturer's lot code on labels/bottles?  
Response 13:  Singapore has plans to mandate lot identification for all prepacked food for sale in 
Singapore. During our preliminary industry consultation in 2020, the industry was generally 
supportive of this requirement. The responses to comments received from the pu blic consultation 
can be found on SFA's website: https://www.sfa.gov.sg/docs/default -source/legislation/sale -of-
food-act/responses -to-comments -on-public -consultation -of-general -labelling -requirements.pdf . 
Singapore does not intend to specify the parties responsible for affixing the lot identification or any 
formats for the lot identificati on. This is in line with the current recommendation under the Codex WT/TPR/M/413/Add.1  
 
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  General Standard for Labelling of Pre -packaged Foods (CXS 1 -1985). However, the lot identification 
must allow the local food businesses to identify the producing establishment and/or the p roduction 
lot for the product, so that businesses and consumers can identify the exact lot of products that are 
affected in the event of a food safety incident.  
We expect to issue a WTO SPS notification on mandating lot identification as part of the amendm ents 
to the Food Regulations on labelling requirements for prepacked food, by end of 2021/early 2022.  
To combat counterfeit issues, the Sale of Food Act prohibits the sale of unsafe and unsuitable food 
and specifies food safety standards for food (e.g. max imum levels for food additives and maximum 
limits for contaminants etc. as specified in the Food Regulations)  
The food legislation also prohibits labelling that is false, misleading, or deceptive or is likely to create 
an erroneous impression regarding its  value, merit, or safety; or food that is not of quality as 
demanded by the purchaser.  
EU Question N°14: Will the Government of Singapore consider addressing the very high 
rate of excise tax applicable to spirits (and wines) as part of its strategy against  illicit 
trade & counterfeiting, improving legitimate trade & consumer protection and protecting 
its own tax revenues in the process?  
Response 14:  Singapore's excise duties aim to mitigate the excessive consumption of liquor and 
associated social costs. Su ch duties also apply to locally produced liquor. As part of Singapore's 
efforts to combat illicit liquor trade and production, we conduct regular enforcement operations to 
interdict manufacturing, supply, and distribution of illicit liquor. We also regular ly review our liquor 
excise rates to keep pace with the changing social and economic trends.  
Paragraph 3.3.7.9, page 79  
The Secretariat's Report refers to the new draft Copyright Act and that a draft bill was released for 
public feedback in February 2021. Article 10.6 of the EU -Singapore FTA establishes that each Party 
shall provide producers of phonograms with the right to a single equitable remuneration if a 
phonogram published for commercial purposes, or a reproduction of such phonogram, is used for 
broadcasting by wireless means or for public performance and that Singapore shall fully implement 
the obligations of this Article within two years of the entry into force of this Agreement (by 21 
November 2021).  
EU Question N°15: How does the draft Copyright B ill, tabled in Parliament on 6 July 2021, 
ensure that the provisions and obligations under Article 10.6 of the EU -Singapore FTA are 
fully covered? When is the new Copyright Bill expected to enter into force?  
Response 15:  The provisions and obligations und er Article 10.6 of the EUSFTA are implemented in 
clause 121(a)(iv) and (b) of the Copyright Bill, which cover the broadcasting by wireless means and 
public performance of commercially published sound recordings respectively. The new Copyright Bill 
is expec ted to enter into force in Nov ember 2021.  
Paragraph 3.3.7.10 (more precisely 3.177), page 80  
According to Article 10.49 of the EU -Singapore FTA, Singapore needs to fully implement its 
obligations on border measures with respect to counterfeit geographical indication goods and pirated 
design goods ideally within two but no later than three years of the entry into force 
(21 November  2022) of the Agreement. The Secretariat's Report indicates that similar rights will 
enter into force for design and GI right hol ders by the end of 2022.  
EU Question N°16: Could Singapore indicate more precisely when it intends to implement 
the provisions in relation to enhanced border measures for both pirated design goods in 
the Registered Designs Act and counterfeit geographical indication goods in the 
Geographical Indications Act?  WT/TPR/M/413/Add.1  
 
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  Response 16:  The enhanced border measures for pirated design goods in the Registered Designs 
Act and counterfeit geographical indication goods in the Geographical Indications Act will be 
implemented by 21 Nov ember 2022.  
4 TRADE POLICIES BY SECTOR  
Paragraph 4.36, page 87  
The Secretariat's report states: "The manufacturing sector continues to provide skilled jobs and to 
have positive spill -over effects on the rest of the economy. Between 2015 and 2020, t he relative 
shares in total manufacturing employment of the biomedical manufacturing, precision engineering, 
chemicals and food, beverages, and tobacco subsectors increased, while the relative shares of 
electronics, transport engineering, and printing decl ined. In terms of total output and value added, 
the situation is slightly different. The biomedical and electronics (in particular semiconductors) 
subsectors saw an increase of their relative share in total output and value added, while other sectors 
showe d a decline".  
EU Question N°17: The report indicates that between 2015 and 2020, the relative share 
of transport engineering declined both in total manufacturing employment as well as in 
total output and value added. Could you please elaborate on the reaso ns for the decline 
in these shares of transport engineering?  
Response 17:  The decline in the transport engineering cluster's shares of employment, output and 
value -added within the manufacturing sector can be explained by (i) the weak performance of the 
cluster in 2020 due to the COVID -19 pandemic, and (ii) structural headwinds in the marine and 
offshore engineering (M&OE) segment in recent years.  
In 2020, output in the transport engineering cluster shrank by 26%, worse than the performance of 
the other cl usters in the manufacturing sector. The fall in output was largely due to the marine and 
offshore engineering (M&OE), and aerospace segments, which were in turn badly affected by the 
COVID -19 pandemic.  
Output in the M&OE segment contracted by 33% in 2020 due to a lower level of work done in 
shipyards. This was because of the following factors: (i) the suspension of most activities at 
shipyards during the Circuit Breaker period in the second quarter of 2020; (ii) manpower shortages 
due to the outbreak of ca ses in our migrant worker dormitories and the requirement to implement 
safe management measures had weighed on activities at shipyards; and (iii) lacklustre order books 
due to the weak oil and gas market globally.  
As for the aerospace segment, its output contracted by 26% in 2020 due to weak demand for repair 
and maintenance work from commercial airlines amidst the imposition of global travel restrictions 
which had led to the widespread grounding of aircraft globally.  
In the years prior to the pandemic (i. e., 2015 -2019), the main factor driving the decline in the 
transport engineering cluster's shares of employment, output and value -added within the 
manufacturing sector was the relatively weak performance of the M&OE segment. Between 2015 
and 2019, the outp ut of the M&OE segment fell by 48% as firms in the segment grappled with 
structural headwinds caused in part by the fall in oil prices. However, in recent years, firms in the 
segment have started to adapt by pivoting away from traditional oil and gas activ ities to pursue new 
growth areas such as offshore wind and renewables, ocean living and green vessels, nearshore 
infrastructure, and smart systems. This will position the firms well to capture mid - to longer -term 
global opportunities.  
Paragraph 4.43, page 89 
The Secretariat's report states: "Electronics is the largest industrial sector of the economy, and its 
relative shares of output and value added increased during the review period. Starting out with a 
labour -intensive system for the assembly of consumer  products in the 1960s, Singapore's electronic 
industry has moved towards the production of high -value components, such as radio -frequency 
filters, semiconductors, and integrated circuits. The sector's ITM was launched in September  2017 
with the objective of creating 2,100 additional jobs and a value added of SGD 22.2 billion by 2020. WT/TPR/M/413/Add.1  
 
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  The electronics sector had grown its value -added contribution to SGD 39.4 billion by 2019. The 
sector also added 1,094 net jobs in 2019 – the higher growth subsectors of semic onductors and 
electronic modules and components added 3,136 jobs, exceeding the target of 2,100 jobs, but this 
growth was offset by a decline of 2,042 jobs in two lower growth subsectors: data storage and 
computer peripherals, and infocomm and consumer ele ctronics. The ITMs' aim is to encourage new 
opportunities and markets, such as artificial intelligence (AI), healthcare, the Internet of Things, and 
autonomous vehicles, and foster the development of start -ups by providing them with ready -made 
equipment in  business incubators. The Electronics ITM also aims to increase productivity by 
anchoring high value -added activities and capturing niche new technologies, such as silicon 
photonics, robotics, and automation. The Government also emphasizes a focus on upski lling to 
ensure that workers' skills match job requirements and that Singapore is able to capture the new 
growth areas through Adapt and Grow initiatives subsidized by the State, such as the Professional 
Conversion Programme, the Career Support Programme, and Re -Skilling for Jobs".  
EU Question N°18: Is there a roadmap/timeline for the deployment of autonomous 
vehicles? Furthermore, could Singapore clarify whether the reference to vehicles in this 
part of the report relates only to cars/road vehicles, or it also includes other vehicles such 
as trains, ships, drones?  
Response 18:  We have developed a three -phase roadmap for the deployment of autonomous 
vehicles (AVs) in Singapore:  
 
Paragraph 4.136, page 108  
The Secretariat's report states "Apart from the changes described above, the telecommunication 
regulatory framework of Singapore has not undergone other significant changes, notably regarding 
licensing, the fixed and mobile and interconnection regime, loca l loop unbundling, and facility 
sharing".  
EU Question N°19: When will the Code of Practice for Competition in the Provision of 
Telecommunication and Media Services start to apply?  
Response 19:  The Code of Practice for Competition in the Provision of Teleco mmunication and 
Media Services is still in the midst of being drafted by Singapore's Infocomm Media Development 
Authority.  
i) Phase 1 (2015 -2019).   Trials at test beds such as one -north, National University of 
Singapore, Science Park, Sentosa, Nanyang Technological University, and Jurong 
Island.   These trials enable the developers to improve their te chnology and provide the 
government with insights on town/transport planning, as well as standards and 
regulations needed.  
 
ii) Phase 2 (2020 -2030).   Limited deployment of AVs as public transport in some towns, 
which will be progressively expanded across the island.   Such deployments will provide 
important insights, such as on public acceptability, concepts of operations (including 
measures to address service disruptions) and business models, into how we can further 
scale up the deployment of AVs across Singap ore.  
 
iii) Phase 3 (2030 onwards).   Full operational deployment island -wide.  
 
 
The reference to autonomous vehicles in this part of the report refers to cars/road vehicles.  WT/TPR/M/413/Add.1  
 
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  WT/TPR/G/413 – Government's Report  
2 RESPONDING TO THE COVID -19 PANDEMIC  
EU Question N°20: Singapore is undergoing a strong recovery from the pandemic shock. 
During the second quarter of 2021, the economy expanded at the fastest pace since 2010. 
What are the main factors driving such a strong recovery? How does Singapore assess the 
strength of the current economic momentum as we move to  the second half of 2021?  
Response 20:  The strong GDP growth in the second quarter of 2021 was largely due to the low 
base in the same period in 2020 when GDP fell by 13.3% as a result of the Circuit Breaker measures 
implemented from 7 April to 1 June 2020 , as well as the sharp fall in external demand amidst the 
COVID -19 pandemic. In absolute terms, GDP remained around 0.6% below its pre -pandemic level 
in the second quarter of 2019.  
At the sector level, with the exception of the manufacturing, finance and insurance, and information 
and communications sectors, the value -added of all the other sectors in the second quarter of 2021 
remained lower than their respective levels in the same period in 2019.  
For the manufacturing sector, its strong performance in t he second quarter was supported by robust 
global demand for semiconductors and semiconductor equipment. As for the finance and insurance 
sector, its good performance during the quarter was led by the banking segment, which grew due 
to the continued increas e in net fees and commissions and interest income from loans, as well as 
the insurance segment, which expanded due to sustained demand for life insurance products. 
Similarly, the information and communications recorded strong growth in the second quarter 
because of robust enterprise and consumer demand for digital solutions and services, and games 
and software publishing activities.  
For the second half of 2021, MTI expects the pace of GDP growth in year -on-year terms to be slower 
than that achieved in the f irst half of 2021 (7.7% year -on-year) as base effects fade. On a quarter -
on-quarter seasonally -adjusted basis, MTI anticipates a gradual recovery in the remaining two 
quarters of the year on the back of a progressive easing of domestic restrictions as our vaccination 
rate continues to rise, as well as a pickup in economic recovery in some of the major economies as 
they continue to re -open. For the full year, the GDP growth for Singapore is projected to come in at 
6.0% to 7.0%.  
EU Question N°21: Singapore ha s remained resilient in the wake of the pandemic due to 
very efficient way of handling the pandemic, even though some sectors like tourism, 
hospitality, aviation were heavily impacted and experienced sharp decline. Yet, many 
ASEAN countries are currently b attling a new wave of rising infections, in the context of 
renewed social distancing measures and low vaccination rates. Given Singapore's 
exposure to the region and the importance of regional trade to the economy, how do you 
assess the impact of the recen t evolution of the pandemic in Southeast Asia on the 
Singaporean economy?  
Response 21:  The resurgence in COVID -19 cases in some of our Southeast Asian neighbours has 
led to the implementation of social and mobility restrictions in these countries to limit the spread of 
the virus, which will likely weigh on their economic recovery.  
The Singapore Government is closely monitoring the impact of these restrictions on our imports of 
essential supplies. Thus far, the flow of goods and supplies from our neighbours  remains stable. 
Overall merchandise trade between Singapore and our Southeast Asian neighbours also continues 
to grow. In the second quarter of 2021, total merchandise trade between Singapore and the other 
Southeast Asian countries was $68.9 billion, an i ncrease of 30.3% compared to the same period last 
year. 
On the other hand, tight border controls, along with relatively low vaccination rates in some of our 
neighbours, have adversely affected business travel and tourism between Singapore and our 
neighbour s.  WT/TPR/M/413/Add.1  
 
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  Notwithstanding the ongoing impact of the pandemic on our neighbours, the overall GDP growth 
forecast for the region this year remains positive. The region's underlying economic fundamentals 
also remain strong and compelling.  
Against this backdrop, Si ngapore's economic recovery this year remains on track. GDP expanded by 
14.7% year -on-year in the second quarter of 2021, albeit from a low base. GDP is likely to continue 
to recover gradually over the course of the year in tandem with the economic recover y globally and 
in the region.  
Paragraph 2.10, page 7  
The Government's report states: "On the other hand, the performance of the manufacturing sector 
remained robust, with the sector expanding by 7.3% in 2020 compared to an average annual growth 
rate of 4. 9% from 2016 to 2019. This was mainly driven by the electronics and precision engineering 
clusters, which saw output climb due to buoyant demand for semiconductors from 5G markets, data 
centres and cloud services, as well as semiconductor equipment. In con trast, the performance of 
the transport engineering cluster was weighed down by manpower disruptions and weak demand".  
EU Question N°22: The report indicates that the performance of the transport engineering 
cluster was weighed down by manpower disruptions  and weak demand. Are any measures 
being considered to support the transport engineering cluster? If yes, are those part of 
the measures indicated under paragraphs 2.4 and 2.5?  
Response 22: Yes, the support measures have been indicated under paragraphs 2. 4 and 2.5.  
3 ECONOMIC OUTLOOK AND NAVIGATING RECOVERY  
Paragraph 3.9, page 10  
The Government's report states: "Digitalization makes the exchange of goods and services more 
efficient, opens up new possibilities, and strengthens Singapore's value proposition  as a trading 
node. In this regard, initiatives such as the AfA on Supply Chain Digitalisation5, refreshing the ITMs 
in the Advanced Manufacturing and Trade (AMT) and Connectivity Clusters, and Digital Economy 
Agreements have been undertaken to enhance acc ess to new markets and opportunities for 
businesses. In February 2021, Singapore's Electronic Transactions Act was enhanced to adopt the 
United Nations Commission on International Trade Law (UNCITRAL) Model Law on Electronic 
Transferable Records (MLETR). T his facilitates the use of electronic transferable instruments such as 
Bills of Lading, enabling trade including the shipping, finance and legal sectors to benefit from faster 
transactions, cost savings, and lowered fraud risks".  
EU Question N°23: Could Si ngapore provide more information on the common data 
infrastructure (CDI) mentioned in footnote 5 and on how it will enable trusted and secure 
data sharing between industry players?  
Response 23 : Singapore Trade Data Exchange (SGTraDex) is a digital infrastr ucture that facilitates 
trusted and secure sharing of data between supply chain ecosystem partners. SGTraDex, created as 
a result of the Singapore Together Alliance for Action (AfA) on Supply Chain Digitalisation, aims to 
streamline information flows acros s the fragmented global ecosystem through a common data 
highway.  
SGTraDex represents a new type of public and neutral infrastructure in a digital era. SGTraDex 
allows for data connections to be made to a wide range of data contributors and data users acros s 
the world.  
The system is designed to be trusted and secure, scalable  and interoperable, timely and accessible. 
This is to ensure legitimate and valuable interactions between contributors and consumers of data 
across systems, and strong data governance. By being able to connect to local and global data 
systems, SGTraDex aim s to become an end -to-end enabler of supply chain ecosystems in Singapore 
and globally. For easier accessibility, all parties across the supply chain should be able to "plug and 
play" through their existing systems to be connected to SGTraDex.  WT/TPR/M/413/Add.1  
 
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  Paragraph 3. 11, page 10  
The Government's report refers to the intention to become a green spark and the commitment to 
the Paris Agreement. However, the reference to the green transition is largely missing in the report. 
In particular for SMEs, both the digital and the  green transition will come at a price. Hence it would 
be interesting to better understand how Singapore is intending to support the economic recovery in 
delivering on its sustainability commitments towards the UN and the international community.  
EU Questi on N°24: In view of delivering its climate targets, Singapore will need to support 
business – in particular SMEs – to transform its business models. Could Singapore specify 
if and if so which instruments are envisaged to accelerate the green transition whi le at 
the same time ensuring competitiveness of its businesses?  
Response 24:  Enterprise Singapore (ESG) will be launching a programme to help businesses, in 
particular SMEs, to develop sustainability as a capability. Support provided under the programme 
will include access to training programmes for enterprises to raise awareness and understanding of 
sustainability, and support for sustainability capability development to capture opportunities in the 
green economy.  
ESG and other government agencies will als o take efforts to develop other key enablers, such as 
promotion of relevant sustainability standards and accreditations, improving access to sustainable 
financing, and building of skills and human capital for sustainability, to facilitate the green transit ion. 
Paragraph 3.13, page 11  
The Government's report states: "Under the Sustainable Living pillar of the Green Plan, Singapore 
hopes to encourage a greener citizenry that consumes and wastes less. The inaugural Zero Waste 
Masterplan launched in 2019 maps o ut Singapore's key strategies to build a sustainable, resource -
efficient and climate -resilient nation. This includes adopting a circular economy approach to waste 
and resource management practices and shifting towards more sustainable production and 
consum ption. The plan supports businesses in turning "trash to treasure" – namely, to recycle or 
transform waste into useful inputs for production. Notably, JTC Corporation, the government agency 
which champions industrial development, is working with companies on Jurong Island to build a 
more sustainable Jurong Island".  
EU Question N°25: Is Singapore considering to develop a sustainable business model to 
reduce its carbon footprint?  
Response 25:  As part of the Singapore Green Plan 2030, we have laid out ambitio ns for developing 
sustainable business models. Singapore is taking several approaches to help individual businesses 
improve sustainability of their business practices, which will help to reduce Singapore's carbon 
footprint.  
For example, we aim to green ou r industries' production and energy usage. This includes 
transforming our energy and chemicals park, Jurong Island, into a sustainable park, through 
initiatives such as the Jurong Island Circular Economy Study conducted with the industry, which 
identified key opportunities to manage water, energy, emissions and waste, as well as to harness 
the potential of low -carbon technologies such as carbon capture, storage and utilisation. We are also 
improving industries' energy efficiency through targeted incentives.  
Another example is to transform our resort island, Sentosa, into a sustainable, carbon neutral island 
destination by 2030. We seek to achieve this firstly through an island wide carbon profiling effort, 
while tackling major emission areas by exploring wit h technology partners green infrastructure such 
as waste -to-energy and renewables. We are also developing precinct -wide partnerships to reduce 
consumption and waste profile. As a final step, the Sentosa business eco -system will also explore 
clean energy pu rchase and credible offsets for remnant footprint that cannot be avoided or further 
reduced.  
EU Question N°26: what steps does Singapore intend to undertake to address the issue of 
plastics and its recycling and marine plastics pollution?  WT/TPR/M/413/Add.1  
 
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  Response 26:  Singapore takes a system -wide approach to addressing plastic waste, from 
encouraging upstream reduction in excessive consumption, to ensuring proper end -of-life waste 
management.  
To drive upstream waste reduction and recycling of packaging, including plastic s, we introduced the 
Mandatory Packaging Reporting (MPR) framework. This requires businesses that place packaging on 
the Singapore market to report on the types and amounts of packaging materials they are placing 
on the market, and submit their 3R plans (i .e. plans to reduce, reuse or recycle packaging). The 
MPR framework will also lay the foundation for an Extended Producer Responsibility (EPR) framework 
for managing packaging waste, including plastics. As the first phase of the EPR framework, we will 
put in place a beverage containers return scheme.  
These upcoming regulatory measures will help to aggregate packaging waste, including plastics for 
treatment and recycling. As such, we are concurrently building up our local plastics recycling 
capability to be tter extract resources from plastic waste.  
Collectively, these efforts will help to reduce plastic waste disposed of and improve its recycling rate.  
On Marine Plastics Pollution  
Singapore takes an integrated approach to addressing marine litter through a  comprehensive 
framework of waste management policies and regulations. This includes the prevention and 
reduction of marine pollution through management of waste from land -based sources, and 
management of water pollution and quality in inland water bodies and coastal areas. For example, 
Singapore has an integrated solid waste management system to minimise waste at the source and 
collect all waste for proper disposal so that waste will not be washed into the ocean. Recyclables 
which are segregated at source from non -recyclables, including plastics, are sorted, baled and sent 
for recycling. Litter that enters our waterways is trapped by litter traps installed at appropriate 
locations and expediently removed by flotsam removal craft. There are also measures to control 
discharge of polluting matters intro drains and inland waters, regular water quality monitoring to 
meet international standards, strict anti -littering and water way clean -ups. 
 Singapore also actively contributes to regional and international effor ts to address marine litter 
through various engagements. For example, in June 2019, Singapore together with other ASEAN 
members adopted the Bangkok Declaration on Combating Marine Debris and welcomed the ASEAN 
Framework of Action on Marine Debris to protec t the marine environment and strengthen regional 
cooperation on marine debris issues. In May 2021, Singapore also endorsed and adopted the ASEAN 
Regional Action Plan on Combating Marine Debris, a key deliverable of the ASEAN Framework of 
Action.  
Furthermor e, Singapore also works with other countries in combatting marine litter, as part of our 
voluntary commitments at the UN Ocean Conference 2017 in support of Sustainable Development 
Goal (SDG) 14. These include partnering Japan to organise the MFA -JICA JSPP 21 Training 
Programme on "Management of Waste and Reduction of Marine Litter" in March 2021; partnering 
the UAE to conduct capacity building workshops on integrated waste management as a means to 
reduce marine litter; and organising a Virtual Urban Solid W aste Management Training Programme 
for ASEAN Member States on from 18 to 20 November 2020.  
6 REGIONAL AND BILATERAL TRADE COOPERATION  
Paragraphs 6.2, 6.3 and 6.4, pages 13 -14 
The Government's report states: "Digital Economy Agreements (DEAs) anchor Singapo re's 
engagement with like minded partners in wide -ranging and critical aspects of the digital economy…" 
and that "Singapore has concluded two DEAs…".  
EU Question/Comment N°27: Insofar as the agreements on the digital economy and the 
green economy also incl ude subjects related to trade policy, it would be desirable for 
Singapore to clarify the linkage between these agreements and the bilateral trade 
agreements negotiated by Singapore, which also tend to cover these two areas.  WT/TPR/M/413/Add.1  
 
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  Response 27:  Singapore's Digital  Economy Agreements (DEAs) and Green Economy Agreements 
(GEAs) complement our bilateral Free Trade Agreements (FTAs), and multilateral agreements or 
initiatives, such as the on -going negotiations at the WTO JSI on E -Commerce. Where there is an 
existing bil ateral trade agreement, we may look to upgrade relevant sections of the FTA where it 
makes sense to.  
Our DEAs and GEAs also cover more depth and breadth on digital and green issues respectively as 
compared our traditional FTAs. These may go beyond conventi onal trade issues and include 
cooperative projects. For the GEAs, this could include areas such as green financing, carbon services, 
and low -carbon solutions. Through these agreements Singapore and our partners will thus be able 
to: 
(i) strengthen trade ru les where they already exist; and  
(ii) explore more customised collaborations in emerging issues.  
EU Question N°28: With which countries is Singapore negotiating new DEAs? What is the 
timeline for negotiations of the MoUs envisaged by the DEAs in order to fully implement 
them? Which points are being negotiating under the new ones (i.e. the same as in t he 
existing ones or are there any major differences)? Are they dealing with vertical digital 
sectors or are they focusing more on data, including data centres locations, data flow and 
data protection ?  
Response 28:  Singapore is currently negotiating DEAs w ith Korea and the United Kingdom. More 
details can be found in the URLs below:  
Korea -Singapore Digital Partnership Agreement (KSDPA):  
https://www.mti.gov.sg/ -/media/MTI/Newsroom/Press -Releases/2020/06/22 -Jun-2020-
Singapore -and-the-Republic -of-Korea -launch -negotiations -on-Digital -Partnership -Agreement.pd  f 
EU Question N°29: Have any of the projects envisaged under Singapore's DEA been put 
into place already/fully implemented? If so, which ones and how do the y benefit business 
engaged in cross -border trade?  
Response 29: As part of the Singapore -Australia DEA, Singapore signed Memorandum of 
Understandings (MOUs) relating to:  
(i) trade facilitation (linking up single windows and a blockchain trial using Singapo re's Trade 
Trust framework)  
(ii) exchange of e -certs for agricultural products  
(iii) digital identity (pilot project on digital IDs to facilitate student visas and potentially opening 
bank accounts, working towards mutual recognition)  
(iv) personal data pr otection (joint promotion and adoption of APEC Cross Border Privacy Rules 
system)  
(v) E-invoicing (promoting adoption of PEPPOL and cross border e -invoicing use cases)  
(vi) A.I (proof of concept on AI governance frameworks to show compatibility, based on A I models 
developed by industry)  
(vii) Data Innovation (identifying cross border data sharing use -cases)  
The projects initiated under these MOUs are at various stages of implementation and are aimed at 
enabling businesses to (i) operate more seamlessly usin g common and interoperable standards (e.g. 
for paperless trading); (ii) facilitate access to data and (iii) provide assurance of transacting in a 
trusted digital environment.  WT/TPR/M/413/Add.1  
 
- 55 - 
 
  Under the MOU on trade facilitation, Singapore and Australia recently concluded a blockchain trial 
using Singapore's Trade Trust framework, to prove trade documents can be issued and verified 
digitally across two independent systems. This was a trial that was conducted together with 
businesses which have given positive feedback on tim e and cost savings.  
More information can be found here:  
https://www.imd a.gov.sg/news -and-events/Media -Room/Media -Releases/2021/Australia -and-
Singapores -blockchain -trial-shows -promising -results -for-reducing -transaction -costs. 
Under the DEPA, the following projects have been initiated:  
(i) The National Single Window project at APEC initiated by Chile, which aims to connect national 
single windows to facilitate the exchange of trade data. Chile has invited Singapore and New Zealand 
to participate in the project.  
(ii) The International Connectivity System (ICS) between Singapore and New Zealand that will 
include the exchange of electronic trade certificates for animal products, plants and plant products.  
The digital exchange of trade data and documents will improve the efficiency of businesses 
operations and enhance data accuracy,  making trade faster and cheaper for businesses.  
Paragraph 6.13, page 15  
The UK -Singapore FTA was signed on 10 December 2020 and entered into force on 
11 February  2021. A DEA is already being negotiated between the UK and Singapore.  
EU Question N°30: What  aspects are being included in this bilateral DEA? What is the 
timeline for the negotiations? By when the new DEA between UK and Singapore is 
expected to be agreed?  
Response 30:  Like Singapore's Digital Economy Agreements with Chile, New Zealand (Digital 
Economy Partnership Agreement), and Australia (Singapore - Australia Digital Economy Agreement), 
the DEA between Singapore and the UK aims to:  
(i) Align digital rules and standards and facilitate interoperability between digital systems;  
(ii) Support cross border data flows and safeguard personal data and consumer rights; and  
(iii) Encourage cooperation between Singapore's economic partners in nascent areas such as digital 
identities, artificial intelligence, and data innovation.  
As negotiations with the UK are still ongoing, the scope and timeline for the UK -Singapore DEA have 
yet to be finalised  
Additional questions on issues not mentioned in the reports  
EU Question N°31: The Singapore Food Safety Agency is consulting on a propo sal to 
remove most standards of identity for spirits from the Food Regulations. Are there plans 
to replace these standards elsewhere in legislation? If not, how does Singapore intend to 
ensure that high quality products respecting strict standards, such as  EU spirits, can 
compete on a level -playing field with products that are not bound by the same strict 
standards?  
Response 31:  
Singapore's intended approach is for the industry to take responsibility in ensuring that the naming 
or product descriptor as lab elled is accurate and sufficient to reflect the true nature and contents of 
the prepacked food and beverages products; and to ensure that the food or beverage do not carry 
claims or suggestions that are false, misleading or deceptive, or are likely to crea te an erroneous WT/TPR/M/413/Add.1  
 
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  impression regarding the value, merit or safety of the food. For products which have a special quality, 
a reputation or other characteristics by virtue of its geographical location and origin, they can be 
protected under the Geographical In dications Act.  
As the public consultation has just closed on 20 August 2021, the submissions are still being 
considered. Any decision will be made known in due course.  
FOLLOW -UP 
SINGAPORE TRADE POLICY REVIEW, 22 and 24 September 2021  
EU follow -up question  
Question 25  
Is Singapore considering to develop a sustainable business model to reduce its carbon footprint?  
Answer  
As part of the Singapore Green Plan 2030, we have laid out ambitions for developing sustainable 
business models. Singapore is taking several approaches to help individual businesses improve 
sustainability of their business practices, which will help to red uce Singapore's carbon footprint.  
For example, we aim to green our industries' production and energy usage. This includes 
transforming our energy and chemicals park, Jurong Island, into a sustainable park, through 
initiatives such as the Jurong Island Cir cular Economy Study conducted with the industry, which 
identified key opportunities to manage water, energy, emissions and waste, as well as to harness 
the potential of low -carbon technologies such as carbon capture, storage and utilisation. We are also 
improving industries' energy efficiency through targeted incentives.  
Another example is to transform our resort island, Sentosa, into a sustainable, carbon neutral island 
destination by 2030. We seek to achieve this firstly through an island wide carbon pro filing effort, 
while tackling major emission areas by exploring with technology partners green infrastructure such 
as waste -to-energy and renewables. We are also developing precinct -wide partnerships to reduce 
consumption and waste profile. As a final step , the Sentosa business eco -system will also explore 
clean energy purchase and credible offsets for remnant footprint that cannot be avoided or further 
reduced.  
EU follow -up to question 25:  
As a follow -up, we would like to ask whether there are any specifi c measures planned for 
transport.  
Response:  Singapore 's vision is for all vehicles to run on cleaner energy by 2040. To incentivise 
the adoption of cleaner energy vehicles, particularly electric vehicles (EVs), we have introduced an 
EV Early Adoption Incentive (EEAI) and enhanced the Vehicular Emissions Scheme (VES). The EEAI 
is a rebate scheme for the purchase of EVs, to bridge the upfront cost gap between EVs and internal 
combustion engine cars, while the VES adopts a rebate/surcharge mechan ism to incentivise the 
purchase of cleaner vehicles, based on vehicular emissions/pollutants. Businesses can enjoy these 
incentives when they adopt EVs.  We are also expanding our national EV charging network, with a 
target to deploy 60,000 charging points island -wide by 2030. This charger roll -out will further 
support businesses ' adoption of EVs.  
As we spur EV adoption, we will also build a healthy and vibrant EV ecosystem in partnership with 
industry and other stakeholders, and grow new EV -related activit ies such as provision of charging 
services and EV/component R&D.  
 WT/TPR/M/413/Add.1  
 
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  MALAYSIA  
GOVERNMENT REPORT  
Page 3  
2 RESPONDING TO THE COVID -19 PANDEMIC  
2.5. Considering the global and domestic economic situations, and heightened uncertainties 
especially arising from the trajectory of the COVID -19 pandemic, the Ministry of Trade and Industry 
expects GDP growth for 2021 to come in at 4.0 to 6.0%. Performance and outlook for different 
economic sectors continue to be highly uneven. In  this regard, the SGD 107 billion Emerging 
Stronger Budget announced in February 2021 focused on continued support for businesses and 
individuals as well as accelerating structural adaptations to equip businesses and workers with deep 
and future -ready capa bilities. For example, the Emerging Technology Programme was introduced to 
co-fund costs of trials and adoption of frontier technologies like 5G, Artificial Intelligence and trust 
technologies.  
Question:  
1. As Singapore's GDP growth is projected to gradually  recover and expand by 4.0 to 
6.0% this year, appreciate if Singapore could share the list of sectors that are most likely 
to contribute to the expansion?  
Response 1:  The GDP growth forecast for Singapore for 2021 has been upgraded to 6.0% to 7.0%. 
Nonethe less, the recovery of the various sectors of the economy over the course of the year is 
expected to remain uneven.  
First, the growth prospects for outward -oriented sectors (e.g., manufacturing and wholesale trade) 
are strong given the rebound in global dem and. In particular, the manufacturing sector is projected 
to see robust growth, driven largely by the electronics and precision engineering clusters on the 
back of strong semiconductor and semiconductor equipment demand. At the same time, the growth 
outloo k for the finance and insurance, and information and communications sectors is positive. The 
former will be supported in part by an expected increase in domestic and foreign credit demand 
alongside the broader economic recovery in Singapore and the region.  Meanwhile, the latter will be 
bolstered by healthy enterprise and consumer demand for digital solutions and services, as well as 
games and software publishing activities.  
Second, the aviation - and tourism -related sectors (e.g., air transport and arts, en tertainment and 
recreation) are projected to see a slow and protracted recovery. Even though domestic border 
restrictions are expected to be eased gradually, especially for travellers from countries that have 
managed to control the pandemic and vaccinate a  large part of their populations, demand is not 
expected to return quickly as travel restrictions globally are likely to be lifted cautiously and global 
travel demand may also remain sluggish amidst the spread of more contagious strains of the virus. 
As su ch, activity in these sectors is expected to remain significantly below pre -COVID levels even 
by the end of the year.  
Third, while consumer -facing sectors (e.g., retail trade and food and beverage services) have been 
adversely affected by ongoing domestic  restrictions (e.g., dining -in limits), they should start to 
recover as the restrictions are eased over the course of the year and consumer sentiments improve 
in tandem with better labour market conditions. Nonetheless, these sectors are not expected to 
return to pre -COVID levels by year -end, in part due to the subdued tourism outlook.  
Fourth, the construction and marine and offshore engineering sectors are projected to see some 
recovery from the low base last year. However, labour shortages arising from prevailing border 
restrictions on the entry of migrant workers, especially from South Asia, are likely to continue to 
weigh on the recovery of activities at worksites and shipyards. The output of these sectors is thus 
expected to remain substantially below pre -COVID levels even at the end of the year.  
2. Are there any sectors that are seen to be at a slow pace of recovery? How about 
tourism, aviation or even construction?  WT/TPR/M/413/Add.1  
 
- 58 - 
 
  Response 2:  The GDP growth forecast for Singapore for 2021 has been upgraded to 6.0%  to 7.0%. 
Nonetheless, the recovery of the various sectors of the economy over the course of the year is 
expected to remain uneven.  
First, the growth prospects for outward -oriented sectors (e.g., manufacturing and wholesale trade) 
are strong given the rebo und in global demand. In particular, the manufacturing sector is projected 
to see robust growth, driven largely by the electronics and precision engineering clusters on the 
back of strong semiconductor and semiconductor equipment demand. At the same time, the growth 
outlook for the finance and insurance and information and communications sectors is positive. The 
former will be supported in part by an expected increase in domestic and foreign credit demand 
alongside the broader economic recovery in Singapore  and the region. Meanwhile, the latter will be 
bolstered by healthy enterprise and consumer demand for digital solutions and services, as well as 
games and software publishing activities.  
Second, the aviation - and tourism -related sectors (e.g., air transpo rt and arts, entertainment and 
recreation) are projected to see a slow and protracted recovery. Even though domestic border 
restrictions are expected to be eased gradually, especially for travellers from countries that have 
managed to control the pandemic and vaccinate a large part of their populations, demand is not 
expected to return quickly as travel restrictions globally are likely to be lifted cautiously and global 
travel demand may also remain sluggish amidst the spread of more contagious strains of t he virus. 
As such, activity in these sectors is expected to remain significantly below pre -COVID levels even 
by the end of the year.  
Third, while consumer -facing sectors (e.g., retail trade and food and beverage services) have been 
adversely affected by o ngoing domestic restrictions (e.g., dining -in limits), they should start to 
recover as the restrictions are eased over the course of the year and consumer sentiments improve 
in tandem with better labour market conditions. Nonetheless, these sectors are not  expected to 
return to pre -COVID levels by year -end, in part due to the subdued tourism outlook.  
Fourth, the construction ,and marine and offshore engineering sectors are projected to see some 
recovery from the low base last year. However, labour shortage s arising from prevailing border 
restrictions on the entry of migrant workers, especially from South Asia, are likely to continue to 
weigh on the recovery of activities at worksites and shipyards. The output of these sectors is thus 
expected to remain subs tantially below pre -COVID levels even at the end of the year.  
Page 8 -9  
3 ECONOMIC OUTLOOK AND NAVIGATING RECOVERY  
3.1. Singapore's positioning as a global business hub is borne of its strategies to develop and 
maintain a business -friendly environment, str ong rule of law, skilled and diverse workforce, 
advanced infrastructure, and a globally competitive ecosystem of financial and professional services. 
Despite the uncertainties brought about by the COVID -19 pandemic, the above factors have allowed 
Singapore  to remain an attractive investment destination for many global companies in a diverse 
range of sectors. Singapore topped the World Economic Forum's Global Competitiveness rankings in 
2019, and INSEAD's Global Talent Competitiveness Index 2020 ranked Singa pore top in the Asia 
Pacific and third globally for talent competitiveness. The Economist Intelligence Unit's Business 
Environment Rankings forecasted for 2020 to 2024 have also placed Singapore first in the world for 
doing business.  
Question:  
3. As a global  business hub, could Singapore please share with Malaysia the challenges 
faced or are badly affected due to travel restrictions during COVID -19? How did Singapore 
overcome the obstacles and achieve tremendous successes i.e., the World Economic 
Forum's Glob al Competitiveness rankings in 2019 and INSEAD's Global Talent 
Competitiveness Index 2020?  
Response 3 : Singapore remains committed to staying open amidst the COVID -19 pandemic. 
Throughout the pandemic, we have kept our supply lines open, and the operations  at Port of 
Singapore and Changi remain uninterrupted.  WT/TPR/M/413/Add.1  
 
- 59 - 
 
  Manufacturers in Singapore (i) continued to have access to raw materials and components; (ii) were 
able to export freely to overseas markets, (iii) and managed to honour deliveries to global clients.  
We have also facilitated essential and business travel in and out of Singapore while ensuring that 
public health remained a priority. With our domestic COVID -19 situation stabilising and our 
vaccination rate rising, Singapore will progressively relax our b order measures in a safe and 
calibrated manner to facilitate more inbound travel from more countries/regions. Some of these 
measures include: (i) resuming entry approvals for work pass holders and their dependants who 
have been fully vaccinated; (ii) launc hing vaccinated travel lanes for vaccinated travellers without a 
need for quarantine from a few countries for a start, on a pilot basis; and (iii) allowing fully 
vaccinated travellers from lower -risk countries to serve shorter quarantine durations or from their 
choice of accommodation, subject to regular testing and other health protocols.  
Singapore continues to strengthen our trade connectivity with the world, through buttressing and 
expanding our network of free trade agreements. Singapore has also been w orking with like -minded 
partners to establish common frameworks and rules for digital trade that will enable businesses to 
connect digitally with overseas partners more seamlessly through digital economy agreements.  
4. Malaysia commends the great effort under taken by Singapore on the approaches 
and initiatives in maintaining its position as an investment destination. Appreciate if 
Singapore could share any other initiatives undertaken besides the ones listed above that 
contributed to Singapore remaining attrac tive to global companies.  
Response 4 : As the global environment becomes increasingly competitive for investments, the 
Singapore Economic Development Board continues to strengthen the fundamentals which have been 
driving business interest in Singapore, such  as our connectivity to the region, high levels of 
digitalisation and innovation, dense local ecosystem of suppliers, and the deep skills of our 
workforce. Singapore recognises the need to constantly reinvent ourselves to embrace new 
opportunities. For ins tance, we recently launched the Singapore Green Plan 2030, as part of our 
efforts to tackle climate change and seize opportunities in the green economy.  
Page 9  
3.1 Transforming the Singapore economy  
3.3. National strategy to develop a knowledge -based and innovation -driven economy and society. 
Research, Innovation and Enterprise (RIE) are cornerstones of Singapore's broader national strategy 
to develop a knowledge -based innovation -driven economy and society. Building on the RIE2015 and 
RIE2020 plans, RIE2025 supports strengthening capabilities in strategic and emerging areas (e.g. 
climate change, food resilience, human potential) and key technologies (e.g. artificial intelligence 
(AI), cybersecurity). SGD 3.75 billion, or 15% of the budge t, has been set aside as 'White Space' 
for greater agility in responding to emergent priorities and breakthroughs.  
Question:  
5. Appreciate it if Singapore could explain the strategic framework to develop a 
knowledge -based and innovation -driven economy and so ciety, and how it was 
implemented.  
Response 5 : Singapore's strategies to develop a knowledge -based and innovation -driven economy 
are underpinned by our national research, innovation and enterprise (RIE) plans. More information 
on the evolution of our RIE l andscape, our latest RIE2025 plan and its implementation, can be found 
at: https://www.nrf.gov.sg/rie2025 -plan. 
6. What are the challenges identified and how did Singapore position/overcome the 
challenges?  
Response 6 : Singapore's research, innovation and enterprise 2025 plan has three broad strategic 
foci to build on the progress from previous RIE plans:  
(i) Expand the coverage of RIE domains to tackle a broader spectrum of national needs  WT/TPR/M/413/Add.1  
 
- 60 - 
 
  (ii) Enrich our sci entific base, maintaining our strong support for basic research  
(iii) Scale up platforms to drive technology translation and strengthen the innovation capabilities 
of our enterprises  
More information can be found at: https://www.nrf.gov.sg/rie2025 -plan. 
Page 10  
3.2 Strengthening our position as a critical node in the global value chain  
3.7. Position Singapore as a key and trusted node in global supply chains . Global supply 
chains were disrupted as a result of border and movement control during the COVID -19 pandemic. 
These had implications on pandemic response and economic recovery. Throughout the pandemic, 
Singapore has continued to keep its borders and conne ctivity channels open to facilitate the efficient 
flow of goods, including through facilitating crew change for ships in a safe manner. In March  2020, 
Singapore and New Zealand initiated a Joint Ministerial Statement to affirm our shared commitment 
to main taining open supply chains amidst the pandemic, which has since been joined by ten other 
countries. Singapore has also committed to the timely and efficient distribution of COVID -19 
vaccines. To this end, Singapore has partnered leading vaccine manufacture rs to establish local 
facilities to produce vaccines and therapeutics, which are capable of reaching the regional and global 
markets. 4 Beyond supporting the critical supply chains during the pandemic, Singapore remains 
committed to further strengthen its trade and physical connectivity to help businesses build resilient, 
agile and sustainable supply chains.  
Question:  
7. Appreciate if Singapore can outline the efforts currently undertaken by the Republic 
to achieve this goal.  
Response 7 : Singapore is committed  to keeping our supply chains and connectivity channels open 
to facilitate global trade through our borders. We demonstrated this during the pandemic, as we did 
not impose export controls on any goods produced or transhipped here, and we kept our sea and 
air links open to facilitate the regional distribution of essential goods and vaccines. We also signalled 
our strong commitment to maintain open and connected supply chains amidst the COVID -19 
pandemic by signing the Joint Ministerial Statement on Supply Ch ain Resilience.  
We will continue to work with global partners to promote global integration and cooperation. As we 
transition out of the COVID -19 pandemic and into the new normal, Singapore will continue our efforts 
to remain a trusted trade hub. For insta nce, we are pursuing new trade facilitation initiatives to 
support businesses in trading efficiently and seamlessly across borders by:  
o Strengthening our regulatory connectivity with foreign trading partners, such as through Mutual 
Recognition Agreements  relating to product standards.  
o Enhancing our digital connectivity through initiatives such as the recently launched SGTraDex 
platform, which will help to improve efficiency in the fragmented global supply chains through a 
common data highway and facilit ate the movement of goods across borders.  
Page 10 -11  
3.3 Becoming a 'Bright Green Spark'  
3.11 As a small island city -state, Singapore has limited natural resources to generate alternative 
energy. Nonetheless, we will meet our commitments under the Paris A greement and aspire to 
achieve net -zero emissions as soon as viable in the second half of the century. To achieve this, we 
are investing in low -carbon technologies, tapping on renewable energy at home and from the region 
and electrifying our vehicles. We a re also developing Singapore into a carbon trading and services 
hub for the region, and reviewing our carbon tax to encourage companies to become more carbon 
efficient.  WT/TPR/M/413/Add.1  
 
- 61 - 
 
  Question:  
8. What are Singapore's specific investment strategies in low carbon technologie s? 
Response 8:  Singapore's research, innovation  and enterprise 2025 plan has three broad strategic 
foci to build on the progress from previous RIE plans:  
(i) Expand the coverage of RIE domains to tackle a broader spectrum of national needs  
(ii) Enrich our scientific base, maintaining our strong support  for basic research  
(iii) Scale up platforms to drive technology translation and strengthen the innovation capabilities 
of our enterprises  
More information can be found at: https://www.nrf.gov.sg/rie2025 -plan. 
9. How is Singapore developing into a carbon trading and services hub for the region? 
What is the plan to achieve this?  
Response 9 : Singapore is working with international organisations and professional services firms 
to embark on capacity building prog rammes and initiatives for businesses in Singapore and the 
region to raise their awareness of sustainability, and carbon services and markets.  
Today, Singapore is home to more than 70 organisations providing carbon services. We are 
interested to anchor tal ent and expertise in services such as carbon trading, project development, 
project financing, and measurement, reporting and verification to help support businesses and 
governments to advance their decarbonisation agenda in the region.  
For instance, we are  supporting the establishment of the Climate Impact X (CIX), which seeks to 
establish a global exchange and marketplace for high -quality carbon credits. The CIX will connect 
an ecosystem of partners, empowering businesses to take effective action and compl ement carbon 
reduction efforts as part of a holistic climate mitigation strategy.  
We are supporting research in natured -based solutions (NBS) through our maritime climate change 
science research programme which focuses on areas including blue carbon, and r esearch by the 
National University of Singapore Centre for nature -based climate solutions which focus on improving 
the environmental integrity and project credibility of NBS in the tropical context. We are also working 
closely with the World Bank and the I nternational Emissions Trading Association to advance the 
Climate Warehouse initiative which aims to address issues such as double counting and inadequate 
transparency, and hope to anchor this in Singapore.  
10. What were the challenges faced when introducing t he carbon tax especially the 
commitments towards compliance?  
Response 10 : In 2013, we put in place the Energy Conservation Act (ECA) that requires large 
facilities in the industry sector to appoint an energy manager, monitor and report their energy use 
and greenhouse gas emissions annually, and submit energy efficiency improvement plans annually. 
Compliance for the measurement, reporting and verification (MRV) requirements for the carbon tax 
builds on the forms and templates used under the ECA, which compan ies were already familiar with. 
This helps companies comply with the carbon tax requirements with minimal ease.  
To minimise compliance burden, we developed our MRV system using the following design principles:  
• Aligning with international practices in key  carbon pricing jurisdictions such as the European 
Union, South Korea, Australia, California/Quebec;  
• Aligning with international guidelines, e.g. Intergovernmental Panel on Climate Change 
Guidelines, GHG Protocol, ISO 14064 -65; and  WT/TPR/M/413/Add.1  
 
- 62 - 
 
  • Building on existing  legislative requirements such as data reporting requirements under the 
ECA – same level of granularity for data submissions.  
As the carbon tax has direct impact on businesses and households, we started conversations on 
carbon pricing early and consulted widely. Singapore's carbon tax was implemented in 2019, at an 
initial rate of $5/tCO2e, to provide a transition period for companies and households to adjust to the 
impacts of carbon tax, by changing their emission pattern. Transitional assistance is also provided 
to lower - and middle -income households to help mitigate the impact of utilities price increase due 
to carbon tax from 2019 to 2021. Carbon tax revenue is also used to help emitters reduce emissions, 
through the various schemes that emitters can ap ply for.  
11. How is the Emission Trading Scheme being implemented in Singapore?  
Response 11 : Instead of an emission trading scheme, Singapore has implemented a uniform carbon 
tax since 2019 on large direct emitters with no exemptions for any sectors. The carbon tax covers 
about 80% of our emissions. This provides a transparent, fair, and consist ent price signal across the 
economy to incentivise emission reductions.  
Singapore is currently reviewing its post -2023 carbon tax levels and trajectories, as an appropriate 
carbon tax level is one of the key levers to spur reduction of our carbon footprin t, promote industry 
innovation and green growth. The outcome of the review will be announced in 2022.  
Page 11  
3.12. Creating a green finance ecosystem. Under the Green Economy pillar of the Singapore 
Green Plan 2030, Singapore seeks to grow as a leading c entre for green finance in Asia. The Green 
Finance Action Plan was developed by the MAS in 2019 to  (i) strengthen the financial sector's 
resilience to environmental risks;  (ii) develop green finance solutions;  (iii) build knowledge and 
capabilities;  (iv) s upport green FinTech innovation; and (v) enhance data and disclosures. Some 
initiatives include a USD 2 billion Green Investment Programme to place funds with asset managers 
committed to deepen green finance activities and capabilities in Singapore, and Pr oject Greenprint, 
a technology platform aimed at promoting a green financial ecosystem through mobilizing capital, 
monitoring commitment and measuring impact of green and sustainable projects.  
Question:  
12. How can Singapore assist the Asian countries in enhan cing green finance ecosystem 
in the region?  
Response 12 : Monetary Authority of Singapore (MAS) is actively involved in the sustainable finance 
related work in the ASEAN Finance Cooperation track and the ASEAN Taxonomy Board, to develop 
a multi -tiered ASEAN  sustainable finance taxonomy and incorporate an effective pathway to enable 
an orderly transition for the region. In addition, the Sustainable Finance Institute Asia (SFIA) in 
Singapore will catalyse and support the implementation of sustainable finance p olicy ideas in ASEAN, 
through advocacy and engagement activities.  
Singapore also seeks to support the mobilisation of capital to facilitate Asia's transition to a green 
economy. For instance, the Sustainable Bond Grant Scheme (SBGS) and Green & Sustainability -
Linked Loan Grant Scheme (GSLS) is available to all issuers who meet the eligibility criteria, which 
do not differentiate the country domicile of the issuer or the country the proceeds are eventually 
applied.  
3.13. Towards a zero waste natio n. Under the Sustainable Living pillar of the Green Plan, Singapore 
hopes to encourage a greener citizenry that consumes and wastes less. The inaugural Zero Waste 
Masterplan launched in 2019 maps out Singapore's key strategies to build a sustainable, resou rce-
efficient and climate -resilient nation. This includes adopting a circular economy approach to waste 
and resource management practices and shifting towards more sustainable production and 
consumption. The plan supports businesses in turning "trash to tr easure" – namely, to recycle or 
transform waste into useful inputs for production. Notably, JTC Corporation, the government agency 
which champions industrial development, is working with companies on Jurong Island to build a 
more sustainable Jurong Island.  WT/TPR/M/413/Add.1  
 
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  Question:  
13. Could Singapore share initiatives and policies undertaken to reduce waste exports 
while enhancing recyclables in the recent years? What are the enforcement measures 
meted out by Singapore to ensure exported waste are meant for recycling?  
Respon se 13 : Singapore has domestic regulations in place to ensure that all incinerable and non -
incinerable waste are sent to the waste -to-energy plants and Semakau Landfill respectively for 
disposal, and recyclable waste is sent to recycling facilities for proc essing.  
Singapore is a Party to the Basel Convention on the Control of Transboundary Movement of 
Hazardous Wastes and Their Disposal ("Basel Convention"), and has implemented domestic 
measures to comply with our obligations. Recyclables that are contaminat ed with hazardous wastes, 
or are classified as other wastes, are subject to Prior Informed Consent (PIC) procedure for their 
transboundary movement (i.e. export can only take place with consent from the importing and in -
transit countries). Any company or i ndividual that falsely declare such wastes, or export such wastes 
without a valid permit, may face fines and/or imprisonment.  
Page 11  
4 OPEN, FACILITATIVE AND INCLUSIVE TRADE INFRASTRUCTURE  
Helping SMEs adapt to the digital economy  
4.3. Small and medium en terprises (SMEs) are at the heart of Singapore's economy, employing two -
thirds of the workforce and contributing to nearly half of GDP. With digital technology transforming 
every sector of Singapore's economy, Singapore supported its SMEs to capitalize on digital 
technologies to thrive and seize growth opportunities.  
Question:  
14. Appreciate it if Singapore could explain how the government ensured the 
sustainability of the SMEs especially during the pandemic.  
Response 14 : The Singapore Government ensured the sustainability of SMEs with COVID -19 
support measures across various areas such as digitalisation. These support measures have enabled 
our SMEs to ride through the pandemic, sustain their operations, and retain as many jobs as possible.  
For example, we sup port and encourage the digital transformation of businesses with a range of 
initiatives that reduce the complexity of evolving technologies, through the SMEs Go Digital 
Programme. During the period of COVID -19 pandemic in 2020, digital solutions were pre -approved 
to ensure business continuity during the pandemic. These COVID -19 solutions included remote 
working solutions such as laptop bundles, collaboration software; temperature screening solutions; 
visitor management solutions; and healthcare teleconsulta tion solutions.  
For more information on the SMEs Go Digital programme, please visit 
www.imda.gov.sg/SMEsGoDigital.  
15. What measures have been taken and how were they implemented?  
Response 15 : The Singapore Government ensured the sustainability of SMEs with CO VID-19 
support measures across various areas such as digitalisation. These support measures have enabled 
our SMEs to ride through the pandemic, sustain their operations, and retain as many jobs as possible.  
For example, we support and encourage the digital  transformation of businesses with a range of 
initiatives that reduce the complexity of evolving technologies, through the SMEs Go Digital 
Programme. During the period of COVID -19 pandemic in 2020, digital solutions were pre -approved 
to ensure business con tinuity during the pandemic. These COVID -19 solutions included remote 
working solutions such as laptop bundles, collaboration software; temperature screening solutions; 
visitor management solutions; and healthcare teleconsultation solutions.  WT/TPR/M/413/Add.1  
 
- 64 - 
 
  For more infor mation on the SMEs Go Digital programme, please visit 
www.imda.gov.sg/SMEsGoDigital . 
4.4. Launched in April 2017, the SMEs Go Digital programme by the Infocomm Media Development 
Authority (IMDA) made goi ng digital simpler for SMEs, with more than 63,000 adopting digital 
solutions from the programme as of March 2021. As part of the programme, sector -specific Industry 
Digital Plans, which are aligned with their respective ITMs, have provided SMEs with a ste p-by-step 
guide on digital solutions and relevant employee training at different stages of their growth. 
In June 2020, the programme was expanded to include Grow Digital, which helps businesses 
participate in Business -to-Business (B2B) and Business -to-Consumer (B2C) e -commerce platforms 
to sell overseas without a need for in -market physical presence.   
Question : 
16. Malaysia commends Singapore on the e -commerce platforms to facilitate B2B and 
B2C. In this regard could Singapore please share the E -Commerce Progra mme and the 
implementation process?  
Response 16:  Through the Grow Digital initiative under the SMEs Go Digital programme, SMEs can 
participate in Business -to-Business (B2B) and Business -to-Consumer (B2C) e -commerce platforms 
that enable them to access regi onal or global markets, so that they can sell abroad without an 
overseas physical presence. SMEs on these platforms will benefit from:  
• Smart matching to connect SME suppliers with potential overseas clients.  
• Optimised listings on overseas e -marketplace s. 
• Prompt access to financing offers facilitated via the platforms.  
• Cross -border e -payment facilities that alleviate currency risks.  
• Strong partners network such as with logistics companies to facilitate last mile delivery.  
• Training and support to build competencies for cross -border e -commerce.  
SMEs who are willing and ready to seize business opportunities in overseas markets can tap on these 
Grow Digital solutions, provided by the appointed B2B and B2C e -commerce platform partners who 
can facilitate the onboarding of SMEs to list and sell their products.  
17. What are the actions related to administrative procedures and achievements related 
to cross -border trade measures?  
Response 17 : Under the Grow Digital initiative, we pre -approve B2B and B 2C e-commerce platform 
partners who are able to provide digital platform services to enable SMEs to access overseas markets 
and support cross -border trade functions such as cross -border e -payment involving currencies 
exchange and access to logistics servic e providers. Interested and qualified SMEs only need to sign -
up with the platform partners to enjoy the supported packages.  
SMEs are able to  list products/services, receive/process/track orders, process payments/collections 
and exchange trade document digitally with their business partners overseas through these e -
commerce platforms almost real -time.  
Page 13  
5 SUPPORTING A MULTILATERAL TRADIN G SYSTEM FIT FOR THE FUTURE  
5.5. Singapore is committed to helping developing Members integrate into and benefit from the 
multilateral trading system through technical assistance and capacity building activities. Under the 
Singapore -WTO Third Country Train ing Programme (TCTP), Singapore has collaborated closely with 
the WTO Secretariat to organize a variety of programmes for developing Members in the Asia -Pacific WT/TPR/M/413/Add.1  
 
- 65 - 
 
  region. These include the WTO -Singapore Trade Policy Dialogue, which brings together senior tra de 
officials for strategic discussions ahead of Ministerial Conferences, short trade policy courses, and 
courses on specific issues of interest, such as trade in services, food supply chains and dispute 
settlement. To date, Singapore and the WTO have joint ly conducted 43 courses for over 900 officials.  
Question:  
18. Malaysia commends Singapore on the recent TCTP held in June this year on 
WTO  dispute settlement. Appreciate if Singapore could share the other TCTP, the 
upcoming courses available for year 2022 -2023 , if any, on specific issues of interest, trade 
in services, food supply chains and dispute settlement.  
Response 18 : Singapore has a longstanding partnership with the WTO to deliver training and 
technical assistance on international trade issues through ou r Third Country Training Programmes 
(TCTP) since 1996. To date, Singapore and WTO have jointly conducted 45 programmes for over  900 
government officials from the Asia -Pacific, Africa and Latin America regions.  
In 2021, Singapore and the WTO worked togethe r to conduct two virtual TCTP workshops on (a) 
Food Supply Chains and WTO Rules; and (b) Advanced Dispute Settlement, which were well -
attended and received positive feedback from the participants. Singapore will be organising one 
more programme in 2021, na mely, the WTO -Singapore 5th Trade Policy Dialogue for Senior Officials 
from the Asia -Pacific Region, which will take place on 11 -14 October 2021. Singapore looks forward 
to the high -level participation of our fellow Asia -Pacific Members in the upcoming Tra de Policy 
Dialogue, which will facilitate strategic discussions among senior trade officials on key issues in the 
lead-up to the 12th WTO Ministerial Conference. Together with the WTO Secretariat, we will be 
planning more courses in 2022 -2023 covering topi cs of interest to WTO Members. We will 
disseminate the information in due course.  
Page 13  
6 REGIONAL AND BILATERAL TRADE COOPERATION  
6.1. Singapore sees bilateral and plurilateral Free Trade Agreements (FTAs) as a practical way for 
like-minded parties to  work towards a more ambitious level of trade liberalization, and therefore 
complement multilateralism. In total, Singapore has 26 FTAs that represent over 85% of global GDP. 
However, current trade rules and policies do not adequately address the needs of the future economy 
- specifically for the digital economy and the green economy. Therefore, Singapore has also sought 
to drive ambitious agreements in these two areas with like -minded and progressive countries. These 
agreements can forge the pathway for ne w multilateral agreements at the WTO.  
Question:  
19. Are there any other areas apart from digital economy and green economy that 
Singapore wishes to explore in future FTAs?  
Response 19 : While Singapore is pursuing digital and green economy agreements with our t rade 
partners as new avenues for collaboration, we are also continuing to push forward with traditional 
forms of collaboration, such as improving physical connectivity and reducing barriers to trade.  
We are also enhancing regulatory connectivity, so that s tandards established in Singapore are 
recognised overseas. There are opportunities for Singapore to work with like -minded partners to 
connect different systems and standards across the world, and promote integration.  
Page 14  
Green Economy Agreements  
6.4. Singapore is also exploring Green Economy Agreements (GEAs) with like -minded trading 
partners, that seek to (i) facilitate trade and investment in environmental goods and services, (ii) 
strengthen environmental governance, and (iii) enhance capacity t o address climate change. Some 
areas of cooperation could include carbon trading, green financing and clean energy solutions.  WT/TPR/M/413/Add.1  
 
- 66 - 
 
  Question:  
20. What will be the scope and coverage as well as technical and other certification 
requirements to be met (if any) of this proposed elements in the GEAs?  
Response 20:  The scope and coverage of a GEA would be discussed with the bilateral partner. 
Nevertheless , Singapore envisages that the GEA would cover a broad scope of issues, including 
green financing, carbon services, and low -carbon solutions.  
The commitments under the Green Economy Agreement would be discussed with the bilateral 
partner.  
21. What are the para meters and mechanism for facilitating trade and investment in 
environmental goods and service under this Green Economy Agreement?  Any programmes 
and incentives planned by Singapore for companies from countries that facilitate trade 
and investment in enviro nmental goods and services?  
Response 21 : Singapore envisages that the Green Economy Agreement would support 
internationally -recognised initiatives by fostering regulatory convergence onto common rules, 
principles and standards through close collaboration w ith industry stakeholders. This would also 
depend on discussions with the GEA partner.  
Singapore is looking to build on international efforts to address tariff and non -tariff barriers on 
environmental goods and services, including the APEC List of 54 envir onmental goods.  
22. Could Singapore please explain how this agreement is different from the 
Environment Chapter adopted by Singapore based on the Free Trade Agreements (FTA) 
that Singapore has implemented in particular the CPTPP?  
Response 22 : Singapore envisio ns the GEA to contribute to developing  new global capacity to 
address climate change and create good jobs in green growth sectors. It would cover a broad scope 
of issues, including in areas such as green financing, carbon services, and low -carbon solutions . It 
would also include cooperative projects on areas of mutual interest.  
23. In addition to question no.22, how does the proposed Green Economy Agreements 
complement, support and align to existing environmental or 'green' commitments such as 
the Paris Agreeme nt and Sustainable Development Goals that the trading partners have 
signed at the international level as well as other regional agreements such as the AEC, 
ASEAN Climate Change commitments or other cross boundary environmental initiatives?  
Response 23 : Singapore envisages that the Green Economy Agreement would complement these 
efforts by fostering regulatory convergence onto international standards where relevant, and 
enhancing parties' capacity to meet such commitments, for example by developing green fina ncing, 
carbon services, and low -carbon solutions.  
24. Is Singapore planning to prioritise its engagement with like -minded trading partners 
for collaboration in this area including the potential signing of the GEAs at the regional 
level (ASEAN) first? Or is it with any like -minded nations, beyond the region?  
Response 24 : Singapore is keen to explore mutually beneficial Green Economy Agreements (GEA) 
with like -minded partners who are ready and keen to pursue an ambitious and comprehensive 
agreement. This can i nclude ASEAN partners as well as like -minded nations beyond the region.  
25. Will the Green Financing facilities be extended to exporters from trading partners 
too, under the Green Economy Agreement?  
Response 25 : Discussions on a Green Economy Agreement are pre liminary at this time. Singapore 
is keen to boost cross -border green finance flows and mobilise private capital into investments in 
green technologies, infrastructure, goods and services, as well as catalysing innovative and efficient 
ways to meet emission s reductions objectives.  WT/TPR/M/413/Add.1  
 
- 67 - 
 
  26. Will the provisions or targets under the Green Economy Agreements be used as a 
condition or a requirement to be fulfilled by the exporters from the trading partners before 
undertaking any projects, investments or exporting products  and services into Singapore  
Response 26 : The commitments under the Green Economy Agreement would be discussed with 
the bilateral partner.  
SECRETARIAT REPORT  
Page 14  
1 ECONOMIC ENVIRONMENT  
1.1 Main Features of the Economy  
1.8. As part of its structural ref orm agenda, the Government intends to gradually increase its local 
workforce, especially in areas where there are skills shortages, while maintaining "a measured 
dependence" on lower -skilled foreign labour. In the budgets for the most recent three fiscal y ears, 
a plan for reducing reliance on foreign workers at the lower - and mid -skilled levels was announced, 
which is being implemented in phases from 2020 to 2023. At the same time, the policy with respect 
to the foreign workforce was adjusted in FY 2020 to support the inflow of higher -skilled foreigners.  
Question:  
27. Is the information on foreign workforce statistics based on their nationalities and 
sectors involved publicly available?  
Response 27 : Foreign workforce statistics based on nationality are not publicly available.  
Statistics on Singapore's foreign workforce  by pass types, as well as by broad sectors are available 
on the Ministry of Manpower's website: https://stats.mom.gov.sg/Pages/employment -Summary -
Table.aspx . 
28. If yes, could Singap ore please share the link for reference?  
Response 28 : Foreign workforce statistics based on nationality are not publicly available.  
Statistics on Singapore's foreign workforce by pass types, as well as by broad sectors on the Ministry 
of Manpower's websit e: https://stats.mom.gov.sg/Pages/employment -Summary -Table.aspx . 
Page 19  
1.2 Recent Economic Developments  
1.2.3 Response to the COVID -19 pandemic  
1.23 To complement the Government 's efforts to ensure access to affordable credit for businesses, 
especially SMEs, the MAS set up a new SGD Facility to provide very low -cost funding to financial 
institutions lending to firms under the Enterprise Singapore schemes.28 The MAS also adjusted banks' 
capital and liquidity requirements, on a temporary basis, to enhance their ability to lend. Also, in 
collaboration with the financial industry, the MAS put in place credit and insurance relief measures 
for individuals and SMEs , such as deferrals and flexible terms for payments of loans and insurance 
premiums.29 
Question:  
29. Appreciate it if Singapore could explain the implementation of this initiative, 
especially to ensure the sustainability of the industries.  
Response 29:  MAS int roduced the MAS SGD Facility for ESG Loans, a funding -for-lending scheme, 
in April 2020. This aimed to support financial institutions (FIs) in providing loans to small and 
medium enterprises, in tandem with the Government's loan guarantee schemes. Under th e loan 
guarantee schemes, the Government shared up to 90% of the risk on loans extended by FIs to WT/TPR/M/413/Add.1  
 
- 68 - 
 
  SMEs, reducing the risk premium charged by FIs. MAS' facility complemented this by providing low -
cost SGD funding to FIs for a tenor of two years, at a rate o f 0.1% p.a. This translated to lower cost 
of funding for SMEs, including in the longer tenors. As at 31 March 2021, the facility lent S$11  billion 
to FIs, catalysing around S$17 billion of loans, and benefitting more than 22,000 companies. MAS 
has extended  the facility twice, in line with the Government's extensions of its loan guarantee 
schemes. This was in response to continued economic uncertainty due to the spread of the COVID -19 
variants in both Singapore and our major trading partners.  
In March 2020, with COVID -19 intensifying and containment measures introduced globally severely 
curtailing economic activity, MAS and the financial industry were cognisant that broad relief 
measures had to be rolled out promptly to affected SMEs and individuals. Financia l institutions also 
recognised their social responsibility to help affected customers recover as soon as possible. MAS 
therefore worked closely with the financial industry to design and announce the terms of the first 
relief package.  
As part of the relief package, banks and finance companies granted payment deferrals to individuals 
and SMEs who faced short term challenges in servicing their loan instalments as a result of COVID -
19. Life insurers granted premium deferrals of up to 6 months and general insure rs provided interest -
free instalment plans to individuals and SMEs who similarly faced short -term challenges in servicing 
their policies.  
To mitigate the risk that SMEs would accumulate more debt from these payment deferrals, SMEs 
were only allowed to defe r principal repayments but not interest repayments.  
Ahead of the expiry of the first relief package, MAS worked with the financial industry on a set of 
extended support measures to help individuals and businesses transition to full loan repayments. 
The ext ended support measures provided further cashflow relief while requiring borrowers to make 
partial principal repayments. For example, under the extended support measures, SMEs were 
allowed to defer a reduced amount of 80% of principal payments.  
As Singapore  progresses in its vaccination efforts and transits to an endemic COVID -19 situation, 
loan repayments must start normalising so as to minimise debt accumulation. MAS hence does not 
expect a further extension of industry -wide support measures. Instead, borr owers and policyholders 
who are unlikely to be able to resume full loan instalment repayments and premium payments by 
the end of the relief periods are encouraged to approach their lenders and insurers early to work out 
longer term repayment solutions.  
Further details on these measures can be found on MAS' website, at the following link: 
https://www.mas.gov.sg/regulation/covid -19. 
Page 27  
1.3 Developments in Trade and Investment  
1.3.2 Trends and pat terns in FDI  
1.41. Attracting foreign investment, by ensuring an enabling business environment, is a key 
component of Singapore's economic policy. The country's trade openness, simple regulatory 
framework, competitive tax system, and numerous incentive sch emes, as well as its modern 
transport infrastructure, make Singapore an attractive destination for foreign investment. In the 
World Bank's Ease of Doing Business ranking, Singapore consistently maintained the first position, 
until 2018. In 2019 and 2020, S ingapore retained the second position. According to the 2020 
ranking, Singapore has one of the world's best regulatory regimes for starting a business, protecting 
minority investors, enforcing contracts, dealing with construction permits, and paying taxes.40 
Political stability and lack of corruption are other advantages attracting FDI to Singapore; on the 
other hand, it should be mentioned that government -owned enterprises continue to play a 
predominant role in some key sectors of the economy, and thus in investment (Section 3.3.5).  
Question:  WT/TPR/M/413/Add.1  
 
- 69 - 
 
  30. Appreciate it if Singapore could explain how they position themselves as a trading 
country while battling Covid -19. What approach is used to safeguard trade/investment 
outflow?  
Response 30 : Singapore remains committed to staying open amidst the COVID -19 pandemic. 
Throughout the pandemic, we have kept our supply lines open, and the operations at Port of 
Singapore and Changi remain uninterrupted.  
Singapore will continue to provide value as a trade and business h ub. We remain committed to 
upholding an inclusive and stable trading environment, and have continued pursuing partnerships 
with other economies throughout the pandemic. For example, we just concluded FTA negotiations 
with the Pacific Alliance comprising Ch ile, Colombia, Mexico and Peru.  
We will continue working with like -minded WTO members to uphold and strengthen the open and 
rules-based multilateral trading system.  
31. What current incentive schemes are being offered primarily to entice foreign 
investors during this COVID -19 pandemic?  
Response 31 : We have not introduced any new incentive scheme specifically to entice new foreign 
investors during COVID -19. Investment promotion and attraction is a continuous effort for 
Singapore, which predated COV ID-19 and continued during COVID -19. 
Page 41 -42  
3 TRADE POLICIES AND PRACTICES BY MEASURE  
3.1 Measures Directly Affecting Imports  
3.1.1 Customs procedures, valuation, and requirements  
3.1.1.1 Customs procedures  
3.5. For conventional import cargo, the good s and a printed copy of the customs permit and 
supporting documentation (i.e. invoice, bill of lading/airway bill, and packaging list) must be 
presented to the clearance officials from the Immigration and Checkpoint Authority (ICA) at the time 
of cargo cle arance. For containerized cargo by air or land, importers are required to produce the 
customs permit and said documents to checkpoint officers, whereas for containerized cargo by sea 
there is no such requirement due to the implementation of paperless clear ance.5 Other documents 
that may be required include import licences for controlled goods, phytosanitary certificates, health 
certificates, certificates of conformity, certificates of analysis, and certificates of origin. Importers 
are required to keep the relevant documents for five years from the date of approval of the permit 
application approval. The ICA conducts physical examination of imports based on risk assessment. 
Information on the annual percentage of import cargos that is subject to physical exa mination or on 
documentary examination (or both) is not published. Post -clearance audits may be carried out for 
past shipments.  
Question:  
32. Could Singapore please explain the details and requirement of phytosanitary 
certificates, health certificates, certif icates of conformity, certificates of analysis, and 
certificates of origin.  
Response 32 : In general, if documents are required for cargo clearance at the checkpoints, these 
certificates would form part of the supporting documents presented to the checkpoin t officers. For 
more information, please refer to Singapore Customs' website at: 
www.customs.gov.sg/businesses/importing -goods/import -procedures/documents -for-clearance -of-
goods . 
33. Do Malaysian exporters have to provide test reports on Formaldehyde Emission for 
panel products?  
Response 33 : Singapore does not require foreign exporters to provide or submit formaldehyde 
emission test reports fo r wooden panel products when they export these products into Singapore. WT/TPR/M/413/Add.1  
 
- 70 - 
 
  Although we do not presently regulate the level of formaldehyde emissions from wooden panel 
products, the National Environment Agency recommends the use of indoor building products wit h 
low-formaldehyde emissions, such as building products certified under the Singapore Green Building 
Product label and the Singapore Green Label. Further information on these schemes can be found 
at https://www.sgbc.sg/sgbc -certifications/sgbp -certification  and https://sgls.sec.org.sg/ . 
Page 42  
3.1.1.2 Trade facilitation  
3.7. For over a de cade, Singapore has operated several programmes to facilitate trade, while at the 
same time making it more secure. Its Trade Facilitation and Integrated Risk -based System 
(TradeFIRST), in place since 2011, provides an integrated framework to assess compani es applying 
for a Singapore Customs scheme and determine the level of trade facilitation to be accorded. Under 
TradeFIRST criteria, companies are assessed and classified into five tiers: basic, standard, 
intermediate, enhanced, and premium. The higher a co mpany's tier classification, the greater the 
level of trade facilitation it enjoys (Table 3.1). A company that obtains a premium classification will 
enjoy the facilitation measures pertaining to its tier, as well as the ones accorded to all the lower 
tiers. All registered companies are accorded the facilities available under the basic tier  
Question:  
34. Malaysia commends Singapore on its achievement for TradeFIRST since it was in 
place in 2011. Could Singapore please share the challenges faced when it started t o build 
up the Programme and how did Singapore overcome the challenges?  
Response 34:  In Singapore, meat, eggs, and their products must be imported from approved 
sources in accredited countries or regions that meet the SFA's food safety and animal health 
standards and requirements. Accreditation is necessary as these products can carry food safety risks 
and animal diseases of public health and trade importance.  
SFA's accreditation procedure is a two -stage process. The first stage involves country accreditat ion, 
where the country is assessed for regulatory oversight and freedom from animal diseases of 
important trade and public health concerns (e.g. Foot -and-Mouth Disease (FMD), Bovine spongiform 
encephalopathy (BSE), etc). The second stage involves the indiv idual establishment accreditation, 
where the food safety and quality programmes and operational hygiene practices of the export meat 
processing plants are evaluated. This involves submission of a documentary dossier, followed by an 
inspection.  
We thank Ind ia for its interest and welcome further discussion with our SPS competent authority for 
food safety, the Singapore Food Agency (SFA).  
3.8. The Secure Trade Partnership Programme (STP), which has been operated by Singapore 
Customs since 2007, is a voluntary  certification programme that encourages companies to adopt 
strong security measures using a risk -based approach in their trading operations in order to enhance 
global supply chain security.7 All supply chain stakeholders, such as importers, exporters, 
manufacturers, freight forwarders, warehouse operators, transporters, and terminal operators, can 
participate in the programme. Certified companies are considered trusted partners and enjoy 
benefits. Companies with high security standards can be awarded STP -Plus status (the highest tier 
of the certification programme), meaning that their cargos will be considered to be low -risk and 
subject to less frequent customs inspections, resulting in time -saving benefits at the border. In 
addition, STP -Plus companies may have their certified status recognized under the Mutual 
Recognition Agreements (MRAs) signed by Singapore Customs with other customs administrations. 
Since its previous Review, Singapore has  signed new MRAs with Thailand (2018), Australia (2018), 
and New Zealand (2019). It also has MRAs with Canada; China; Hong Kong, China; Japan; 
the Republic of Korea; Chinese Taipei; and the United States. In August 2020, there were 108  STP 
and 88 STP -Plus certified companies (compared with 72 and 77, respectively, in January  2016)  
Question:  
35. Could Singapore please share the possibilities of developing a new MRA with 
Malaysia on the STP in the near future?  WT/TPR/M/413/Add.1  
 
- 71 - 
 
  Response 35 : We would like to thank Malaysia for expressing interest in an AEO -MRA with 
Singapore. To facilitate separate discussions on this matt er, we welcome Malaysia Customs to get 
in touch with the International Relations Branch of Singapore Customs.  
Page 50  
3.1.5 Import prohibitions, restrictions, and licensing  
Table 3.6 Goods Subject to import prohibitions or non -automatic licensing  
Type of r estriction / product  Legal basis  Administering agency  
Animals and animal products 
(including ornamental fish and 
livestock), eggs and veterinary 
biologics / vaccines, animal 
feed Animals and Birds Act (1965); 
Feeding Stuffs Act  NParks  
Singapore Food Agency (SFA)  
 
Page 64  
3.3 Measures Affecting Production and Trade  
3.3.3 Sanitary and phytosanitary (SPS) requirements  
3.3.3.2 Food products  
3.94. The main focus  of Singapore's food import policy is to ensure and secure a steady and sufficient 
supply of safe food from a large number of sources. Imports of food are regulated by the Control of 
Plants Act (fresh fruits and vegetables), the Animals and Birds Act (live  animals and fresh eggs), the 
Wholesome Meat and Fish Act (meat and fish products), and the Sale of Food Act (all other foods).  
3.95 Operators wishing to import food products or food contact articles (i.e., food appliances) must 
obtain a trader's license a nd / or register with the SFA.  
3.98. Fresh eggs are imported only from accredited farms in Australia, Denmark, Finland, Japan, 
Malaysia, the Netherlands, New Zealand, Poland, the Republic of Korea, Sweden, Thailand, Ukraine, 
and the United States.  
Questio n 
36. Paragraph 3.98 states that fresh eggs are imported only from accredited farms as 
listed above. In this regard, Malaysia would like to know, whether there are any licence 
or conditions imposed on importers to limit the quantity of fresh eggs importation f rom 
the listed country mentioned in paragraph 3.98?  
Response 36:  The Singapore Food Agency does not limit the quantity of fresh eggs imported from 
accredited farms in the source countries.  
37. Malaysia would also like to know how many accredited farms mentioned in 
paragraph 3.98 have been suspended and how many newly accredited farms from 2019 -
2021?  
Response 37 : 
 2019  2020  2021  
( as at 18 August)  
Newly accredited/reinstated 
farms  24 77 34 
Suspended farms  5 4 3 
Page 52  
3.1.6 Anti -dumping, countervailing, and safeguard measures  WT/TPR/M/413/Add.1  
 
- 72 - 
 
  3.33. There have been no changes to the legal framework governing the application of anti -dumping 
and countervailing measures since the previous Review. The relevant legislation remains the 
Countervailing and Anti -Dumping Duties Act, under which the Ministry of Trade and Industry (MTI) 
may initiate an investigation to determine whether goods are being dumped or whether a 
countervailable subsidy is being granted. Singapore has no anti -dumping or countervailing measures 
in force. It does not have any safeguard legislation.  
Question:  
38. How does Singapore's legislation respond to the spill -over effect from the US -China 
Trade War where dumping of goods and trade circumvention cases increased in Southeast 
Asia countries?  
Response 38 : Singapore remains committed to staying open amidst the COVID -19 pandemic. 
Throughout the pandemic, we have kept our supply lines open, and the operations at Port of 
Singapore and Changi remain uninterrupted.  
Manufacturers in Singapo re (i) continued to have access to raw materials and components; (ii) were 
able to export freely to overseas markets, (iii) and managed to honour deliveries to global clients.  
We have also facilitated essential and business travel in and out of Singapore while ensuring that 
public health remained a priority. With our domestic COVID -19 situation stabilising and our 
vaccination rate rising, Singapore will progressively relax our border measures in a safe and 
calibrated manner to facilitate more inbound trave l from more countries/regions. Some of these 
measures include: (i) resuming entry approvals for work pass holders and their dependants who 
have been fully vaccinated; (ii) launching vaccinated travel lanes for vaccinated travellers without a 
need for quara ntine from a few countries for a start, on a pilot basis; and (iii) allowing fully 
vaccinated travellers from lower -risk countries to serve shorter quarantine durations or from their 
choice of accommodation, subject to regular testing and other health prot ocols.  
Singapore continues to strengthen our trade connectivity with the world, through buttressing and 
expanding our network of free trade agreements. Singapore has also been working with like -minded 
partners to establish common frameworks and rules for d igital trade that will enable businesses to 
connect digitally with overseas  partners  
Page 58  
3.3.1 Taxation and incentives  
3.3.1.2 Tax and non -tax incentives  
3.60. A variety of tax and non -tax incentives are provided to support companies of all sizes, if their 
activities are deemed beneficial to the country's economic development (Table A3.1). Incentives are 
mostly aimed at: encouraging companies to expand production and invest in training and research 
and development (R&D); promoting investment in and adoption of new technologies; and supporting 
the development of SMEs31 and start -up companies. Some incentives are also intended to promote 
the use of Singapore as a base from which to implement regional growth strategies and the 
internationalizatio n of companies (Section 3.2.4.1).  
3.61. The main legal basis for the granting of tax incentives are the Income Tax Act and the Economic 
Expansion Incentives Act. Tax incentives usually provide some kind of relief from corporate income 
tax and/or withholdin g tax, and can take the form of tax exemptions, tax breaks, rebates and 
concessionary rates, deductions of eligible expenses from taxable income, and allowances on 
qualifying costs incurred. Non -tax incentives include financial assistance programmes, co -funding, 
and grants.  
Question  
39. The Income Tax Act and the Economic Expansion Incentives Act provides the legal 
provisions/ macro guidelines on the incentives that could be accorded to an investor and 
Table A3.1 also highlights some of the incentive schemes wi th the general eligibility 
criteria. In this regard we would like to seek from Singapore, whether information on WT/TPR/M/413/Add.1  
 
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  criteria for all available incentive schemes are publicly available, which could facilitate 
investors to undertake self -assessment on criteria fulfillment before tendering any 
application for available incentive schemes.  
Response 39 : Information on eligibility criteria for our incentive schemes is available on the 
websites of the respective administering agencies, such as those listed in paragrap h 3.62 of the 
Secretariat Report.  
40. Does Singapore maintain any incentive schemes that are "tailor -made" (e.g. land 
lease) and whether Singapore can share their experience in attracting FDI in specific 
sectors?  
Response 40 : A key component of Singapore's eco nomic policy is to attract foreign investment by 
ensuring an enabling business environment. Singapore's trade openness, a relatively stable political 
environment, strong anti -corruption laws, a simple regulatory framework, incentive schemes, as 
well as its  modern transport infrastructure, make Singapore an attractive destination for foreign 
investment.  
41. Are the incentives provided by Singapore published annually to all investors?  
Response 41 : Information on Singapore's incentive programmes is publicly available, including on 
the websites of the respective administering agencies, such as those listed in paragraph 3.62 of the 
Secretariat Report.  Legislative text can also be assessed at sso.agc.gov.sg.  
Page 65  
3.3.3.3 Animal and Plant Health  
3.106. Operators wishing to import plants must obtain a prior import permit from NParks. All plant 
consignments must be accompanied by phytosanitary certificates issued by the competent 
authorities of the country of origin. Additional documentation may be requ ired for the importation 
of some plants, including, for example, a declaration of freedom from an endemic plant disease, 
where applicable.  
Question  
42. Could Singapore please share if it is allowable to import primary wooden products, 
i.e., logs or sawntimber, into Singapore without treatment being done at the source 
country, provided that the source country and the product are deemed as 'low risk'?  
Respo nse 42 : Singapore allows the import of primary wooden products without treatment being 
done at the source country.  
43. What are the actions taken (e.g. compound) if the consignment is found to be non -
compliant?  
Response 43 : We will take appropriate actions for  non-compliance as stipulated in our legislation 
under the Control of Plants Act. Our legislation stipulates a penalty structure for fine not exceeding 
$10,000 or imprisonment for a term not exceeding 3 years or both.  
3.107. NParks and the SFA are the auth orities in charge of issuing SPS certificates for Singaporean 
exports of food, animals, and plants, in accordance with the requirements of importing countries. 
Moreover, NParks manages export accreditation schemes for plants and ornamental fish, in order t o 
ensure the quality of the products for export. Under these schemes, traders set up quality assurance 
systems to ensure the health and quality of their exports. NParks conducts regular audits of the 
participants in the accreditation schemes.  
Question:  
44. What will be the mechanism of the audits? For example, any quality testing 
conducted for the export of Singapore's sawntimber or logs (sourced from Malaysia)?  WT/TPR/M/413/Add.1  
 
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  Response 44 : With respect to the export accreditation scheme mentioned in paragraph 3.1 07, 
participating exporters are subjected to regular audits by the National Plant Protection Organisation 
(NPPO) to ensure that the requirements of the management system are in place to assure the 
phytosanitary status of the plants (and their products) for  export. The export accreditation scheme 
currently does not apply to sawn timber or logs.  
Singapore also has a Treatment Provider Scheme (TPS) for the export of wood products. Under the 
scheme, we have a list of registered treatment providers authorised to  perform ISPM No. 15 
treatments on wood packaging material that is bound for export or re -export. The TPS has a system 
in place and framework for audits aimed at assessing the member's compliance to the phytosanitary 
aspects of the scheme and ISPM No. 15 s tandard.  
Page 71  
3.3.6 Government procurement  
3.140. The procurement function in Singapore is largely decentralized, meaning that procurement 
activities are generally carried out by individual ministries, agencies, and statutory boards. 
Nevertheless, some  centralized purchasing is carried out by the Ministry of Finance and other lead 
agencies.  
Question:  
45. Appreciate if Singapore could elaborate if there is a central monitoring system to 
oversee this format of decentralized procurement?  
Response 45 : Governmen t agencies are required to follow the legal framework for procurement. 
The legal framework is supplemented by orders and guidelines issued by the Ministry of Finance as 
explained in paragraph 3.138 of the Secretariat Report.  
In addition, as highlighted in paragraph 3.149, agencies are subject to regular independent audits 
on their compliance with these procurement orders and guidelines.  
Page 72  
3.142. Procurement procedures have remained generally unchanged since 2016. Depending on the 
estimated procuremen t value, procurement may be carried out by "small value purchase" or through 
quotations or tenders. For procurement of an estimated value not exceeding SGD 6,00077, procuring 
entities can buy off the shelf or directly from known suppliers. For procurement with a value above 
SGD 6,000 but below SGD 90,00078, open quotations are used. In this process, at least two officials 
are responsible for the purchase: one to invite, receive, and evaluate offers, and recommend a 
supplier; and the other to approve the rec ommendation. For procurement with an estimated value 
above SGD 90,000, open tenders should be used by default. However, in certain circumstances, 
such as when there is a national security consideration, a need to protect public health and safety, 
or a sing le supplier in the market for a good or service, procuring entities may call for limited 
quotations or limited tenders.  
Question:  
46. Appreciate if Singapore could further explain on the implementation of limited 
quotations or limited tenders for national secu rity consideration procurement.  
Response 46:  The implementation of such quotations or tenders is based on the "Security and 
General Exemptions" provision under Article III in the Government Procurement Agreement and 
similar exceptions contained in Singapor e's FTAs.  
3.143. Tenders may be carried out by using open, selective, or limited tendering procedures:  WT/TPR/M/413/Add.1  
 
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  • Open tendering: All interested suppliers may participate and submit a bid in response to an 
invitation to tender. This procedure must be used for all procurements with an estimated 
value above SGD 90,000.  
• Selective tendering: This is a two -stage procedure  that may be used for complex projects. 
In the first stage, interested suppliers are shortlisted based on their capabilities through an 
open pre -qualification exercise. In the second stage, only shortlisted suppliers are invited to  
submit their bids. Suppl iers who did not participate at the first stage are given an opportunity 
to qualify in order to take part in the second stage. There is no threshold for using selective 
tendering.  
• Limited tendering: Under this procedure, only one or a few selected supplier s are invited to 
bid. It is permitted under the following circumstances (regardless of the procurement value): 
(i) when there has been no response to previous open or selective calls for tender; (ii) when 
there is only one supplier (in cases of works of ar t, or to protect intellectual property rights); 
(iii) to ensure compatibility with existing equipment; (iv) in cases of extreme urgency 
brought about by unforeseeable circumstances;(v) for the development of prototypes for 
research; (vi) for goods purchase d on a commodity market;(vii) when there are 
exceptionally advantageous conditions that only arise in the very short term; and (viii) for a 
design contest. A procuring entity shall not carry out limited tendering to avoid competition, 
protect suppliers est ablished in Singapore, or otherwise discriminate against any applicable 
supplier.  
Question:  
47. Appreciate if Singapore could explain the reasons why the suppliers who did not 
participate in the first stage are given an opportunity to qualify in order to take part in 
the second stage.  
Response 47 : Pursuant to Article IX:5 of the revised Government Procurement Agreement, 
suppliers that are not pre -qualified will only be eligible for the second stage where there is no 
limitation on the number of suppliers that ca n be pre -qualified and provided they meet the criteria 
for selecting the limited number of suppliers.  
The rationale for this practice is to have competition from increased participation and is aligned to 
the principle of achieving value -for-money as stated  in paragraph 3.141 of the Secretariat Report.  
48. How does Singapore choose suppliers who did not participate in the first stage to 
qualify to take part in the second stage to submit their bid?  
Response 48 : Pursuant to Article IX:5 of the revised Government Procurement Agreement, 
suppliers that are not pre -qualified will only be eligible for the second stage where there is no 
limitation on the number of suppliers that can be pre -qualified and provided they meet the criteria 
for selecting the limited number of suppliers.  
The rationale for this practice is to have competition from increased participation and is aligned to 
the principle of achieving value -for-money as stated in paragraph 3.141 of the Secretari at Report.  
3.144. Demand aggregation is allowed and may be carried out by the procuring entity for its own 
needs or on behalf of other entities. Usually, such contracts are signed as a result of open tendering 
or a quotation process. Demand aggregation can  take the form of a so -called period contract or a 
framework agreement. Period contracts are used when the procurement subject and the unit price 
are fixed for the entire duration of the contract. Framework agreements can be signed where the 
price of the p rocurement subject is prone to fluctuation. Contracts under framework agreement 
schemes are awarded after requesting quotations from all eligible suppliers.  
Question:  WT/TPR/M/413/Add.1  
 
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  49. Appreciate it if Singapore could explain further on the implementation of demand 
aggregat ion and give an example of type of procurement that uses demand aggregation 
method.  
Response 49 : To achieve better value -for-money through economies of scale, demand for goods 
or services within an agency or across agencies can be aggregated into a demand  aggregation (DA) 
contract.  
As highlighted in paragraph 3.144 of the Secretariat Report, these DA contracts are usually 
established through an open tender or quotation process, and remain in effect for a fixed period of 
time. 
Once the DA contract has been  established, the appointed supplier(s) will provide the goods or 
services at the contracted rate for the duration of the contract. As and when such goods or services 
are required by an agency, the agency will issue a Purchase Order against the DA contract .  
We have established DA contracts for a range of goods or services, such as office equipment, 
electrical appliances and provision of event management services.  
Page 73  
3.148. Complaints about alleged non -compliance cases are handled by the Government Pr ocurement 
Adjudication Tribunal. The Minister of Finance appoints the Commissioner and Deputy 
Commissioners of the Tribunal. A tenderer may challenge the award decision on grounds of the 
procuring entity's breach of duty, which has resulted in loss or dama ge. The onus of proving that 
the procuring entity is in breach of duty is on the unsuccessful tenderer. A challenge must be 
submitted to the Tribunal within 15 days of the date on which the facts constituting the basis of the 
challenge first took place. A copy of the notice of challenge must be transmitted to the relevant 
procuring entity. The authorities indicate that, to date, there has been no case that went through 
the entire review process before the Tribunal, and that no cases were initiated during th e period 
2015-19. Challenges regarding government procurement decisions by way of court proceedings are 
not allowed; all such challenges must be dealt with within the framework of the Government 
Procurement Act and its subsidiary legislation.  
Question:  
50. Could Singapore please elaborate further on the duration involved in the overall 
process of complaints and challenges.  
Response 50 : We strongly encourage suppliers to first seek resolution with the government agency 
involved in the procurement. If a formal b id challenge is initiated to bring the issue before the 
Government Procurement Adjudication Tribunal, a Notice of Challenge has to be lodged with the 
Registrar of the Tribunal. The process is stated in the Government Procurement Act (Cap. 120) and 
the Gove rnment Procurement (Challenge Proceedings) Regulations which can be found respectively 
at the following hyperlinks:  
https://sso.agc.gov.sg/Act/GPA1997   
https://sso.agc.gov.sg/SL/GPA1997 -RG1?DocDate=20040229   
The Government Procurement Act states that the Government Procurement Adjudication Tribunal 
shall issue its determination on a chal lenge within 45 days from the date of lodgement of the Notice 
of Challenge unless there are exceptional circumstance justifying an extension of time.  
51. Will the procurement processes be suspended during the review process?  
Response 51: Please refer to sectio n 16 of the Government Procurement Act which can be found at 
the following hyperlink ( https://sso.agc.gov.sg/Act/GPA1997 ). 
52. Can Singapore share the remedies available in addressing the complaints about 
alleged non -compliance cases?  WT/TPR/M/413/Add.1  
 
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  Response 52 : Please refer to section 18 of the Government Procurement Act which can be found 
at the following hyperlink ( https://sso.agc.gov.sg/Act/GPA1997 ). 
53. Appreciate if Sin gapore could share if there is any reference available for cases that 
have been brought up to the Tribunal.  
Response 53 : As highlighted in paragraph 3.148 of the Secretariat Report, to date, there has been 
no case that has gone through the entire review pr ocess before the Tribunal, and no case has been 
initiated since 2015.  
Page 81  
3.3.7 Intellectual Property Rights  
3.3.7.11 IP matters relating to COVID -19 
3.183. To further community -driven COVID -19 contact tracing, the Government developed and then 
made fr eely available, via an open -source licence, a software protocol for Bluetooth devices, which 
formed the basis for its pioneering TraceTogether app. The technology was subsequently adopted 
by Australia, which incorporated it into its own COVIDSafe app.  
Ques tion:  
54. Appreciate it if Singapore could provide further information on the TraceTogether 
technology as part of best -practice sharing amongst member countries.  
Response 54 : TraceTogether, and the integrated SafeEntry feature, has significantly improved the 
time to identify close contacts of COVID -19 patients or clusters. TraceTogether uses Bluetooth 
technology to exchange connections with nearby TraceTogether devices, App or Token, to record 
proximity data of close contacts.  
On average, contact tracing time has been reduced from 4 to 1.5 days. This has sped up the manual 
interview process for contact tracers. As of end July, 99% of the population in Singapore has adopted 
TraceTogether.  View the public source codes and whitepaper here: https://bluetrace.io  
Page 83  
4 TRADE POLICIES BY SECTOR  
4.2 Mining and Energy  
4.6. From 2015 to 2018, total energy supply grew by 19%. Chart 4.2 details Singapore's energy 
supply by source. Oil accounts for more than two thirds of the total energy supply, and its relative 
share increased during the period 2015 -18. The increase in oil -based energy supply may reflect an 
increase in the production of the petroleum and/or petrochemicals sectors, driven by external market 
demand. Natural gas  provides about a quarter of the energy supply, while the share of coal and 
renewables remains marginal; solar energy supply grew five -fold during the period, from a very low 
base.  
4.7. In the framework of the Paris Agreement, Singapore submitted its enhan ced Nationally 
Determined Contribution in March 2018 and its Long -Term Low Emissions Development Strategy 
in March 2020 to the secretariat of the United Nations Framework Convention on Climate Change. 
Singapore committed to peak emissions at 65 million ton nes of carbon -dioxide equivalent  (MtCO2e) 
around 2030; it aspires to halve emissions from the peak to 33 MtCO2e by 2050 and to achieve net -
zero emissions as soon as viable in the second half of the century.  
Question:  
55. Singapore's share of renewable in the t otal energy supply decreased during the 
period 2015 -2018. In achieving Singapore's enhanced Nationally Determined 
Contribution and Long -Term Low Emissions Development Strategy, what is the country's 
plan to increase their share of renewables in the total e nergy supply?  WT/TPR/M/413/Add.1  
 
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  Response 55 : Singapore is an alternative energy disadvantaged country. We lack the land area 
and climatic conditions necessary for large -scale deployment of renewable energy sources such as 
hydropower, tidal and wind based on current technologies. Nonetheless, we are  facilitating the 
adoption of renewable energy where it is technically and economically feasible to do so.  
Singapore is accelerating our efforts to grow solar energy, which is our most promising renewable 
energy option. We are advancing our solar deployme nt target to 1.5 gigawatt -peak (GWp) by 2025, 
which will be an almost four -fold increase from our current solar capacity. By 2030, we aim to deploy 
at least 2 GWp of solar. To do so in land -scarce Singapore, we have been seeking innovative 
deployment sites  such as floating photovoltaics (PV) on reservoirs and offshore sea space. For 
example, in July 2021, Singapore officially opened the large -scale 60 megawatt -peak (MWp) floating 
photovoltaic system at Singapore's Tengeh Reservoir, which is about the size o f 45 football fields.  
Aside from reservoirs and offshore sea space, rooftops have also been largely used as deployment 
sites. The SolarNova programme was launched in 2014. It is a Whole -Of-Government effort led by 
the Economic Development Board (EDB) and t he Housing Development Board (HDB) to accelerate 
the deployment of solar PV systems in Singapore, with a capacity target of 540 MWp on HDB public 
housing blocks by 2030. The solar energy harnessed is used to power common services in the HDB 
estates such as  elevators and lighting in common areas.  
The development of regional power grids can provide greater resilience and stability for the entire 
system across the region, and also allow countries with abundance of hydropower and other 
renewable energy to expor t electricity to other countries. Singapore is keen to work with various 
countries in the region to develop a regional grid to facilitate this.  
As a start, the Energy Market Authority of Singapore (EMA) is working towards a two -year trial to 
import up to 1 00 megawatts (MW) of electricity from Malaysia. The trial aims to test the technical 
and regulatory frameworks for electricity imports, paving the way for larger -scale imports from the 
region in the future.  
At the same time, we are working closely with Lao  PDR, Thailand and Malaysia to achieve multilateral 
electricity trading through the Lao PDR -Thailand -Malaysia -Singapore Power Integration Project 
(LTMS -PIP). This will help to promote greater infrastructural connectivity, resilience and stability for 
the entire system in the ASEAN region and contribute to ASEAN's sustainable energy goals.  
4.8. Singapore introduced a carbon tax on greenhouse gas (GHG) emissions through the Carbon 
Pricing Act that came into force on 1 January 2019. The carbon tax forms part o f Singapore's 
comprehensive suite of mitigation measures to reduce emissions; the tax rate is currently set at 
SGD 5 per tonne of carbon -dioxide equivalent (tCO2e) from 2019 to 2023. The tax is applied 
uniformly to emissions from all sectors, including tho se from the manufacturing, power generation, 
and water and waste management sectors, with direct reckonable GHG emissions of 25,000  tCO2e 
or more annually. This covers around 80% of national emissions.  
Question:  
56. Is there an analysis done on the impact of the carbon tax on the emission level 
reduction?  
Response 56 : Computable General Equilibrium model is used to study and understand the impact 
of carbon tax on emissions. However, it is more useful to consider its interactions with other policies 
and measures as the carbon tax is a cross -sectoral measure.  
57. Where will the proceeds from the carbon tax be spent on by the government?  
Response 57 : As a general principle, the carbon tax revenue will not be earmarked for specific 
purposes to retain flexibil ity. That said, the Government is prepared to spend more than the 
estimated S$1 billion in carbon tax revenues collected in the first five years, to help companies invest 
in energy - and carbon -efficient technologies. We have also earmarked funds under the Research, 
Innovation and Enterprise 2025 plan for the research, development and demonstration of 
sustainable urban solutions, as well as emerging low -carbon technologies that can drive deeper 
decarbonisation.  WT/TPR/M/413/Add.1  
 
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  Page 85  
4.2.3 Renewables  
4.18. Due to natural conditions (absence of rivers, low average wind speeds, nature of the subsoil, 
and size and use of the territory), it is not viable to develop hydro -power, tidal energy, nuclear 
energy, wind energy, or geothermal energy based on current technologies. As a result, solar, 
biomass, and biofuels are the only feasible options for Singapore's renewable energy supply. 
Renewable energies are essentially used for electricity generation.  
Question:  
58. In increasing share of biomass and biofuels in the Singapore's renewa ble energy 
supply, what is Singapore's plan for feedstock use? Will Singapore be interested in using 
palm biomass and palm -based biodiesel?  
Response 58: Singapore has an 80:20 coal -biomass co -firing plant that uses Palm Kernel Shells 
(PKS) as part of its f uel mix. For power generation, Singapore is open to exploring different biomass 
options that are cost competitive, environmentally sustainable and have a reliable supply source. 
Biomass -fired power generation in Singapore is limited due to a lack of viable  solutions to repurpose 
the large amount of waste ash generated from the combustion of solid biomass such as PKS. We will 
continue to monitor developments that could help address the waste issue and hence, enable the 
use of biomass for large -scale power ge neration.  
On palm biomass, palm -based waste and residues such as palm fatty acid distillate is already being 
used by industry (a portion of which is sourced from Malaysia), and we will be keen to increase the 
use of palm biomass subject to its cost, decar bonisation potential, and availability of feedstock.  
59. Will Singapore push for higher share of renewable energies in sectors other than 
electricity generation? For example, transportation and industrial sector via biodiesel and 
ethanol mandate.  
Response 59 : As part of Singapore's energy transition, Singapore will leverage Four "Switches" 
(i.e. natural gas, solar energy, regional power grids, and emerging low -carbon alternatives such as 
hydrogen and carbon capture, utilisation and storage (CCUS)) to help decar bonise our power sector.  
Besides our power sector, we are also exploring the use of more sustainable energies in industry 
(e.g. through the use of low -carbon hydrogen and biofuels). For instance, Keppel Data Centres, 
Kawasaki, Linde, MOL, and Vopak LNG ha ve entered into a MOU earlier in this year to jointly explore 
the concept development of a supply infrastructure to bring liquefied hydrogen into Singapore to 
power Keppel's data centres. We will continue to work with the industry to evaluate the applicati ons 
of these sustainable energies, pending better visibility of future cost reductions and availability of 
supply. Companies are also embarking on biofuel trial projects, such as the biofuel bunkering trial 
this year by Olderndorff Carriers, BHP and Goodfu els with the support of the Maritime and Port 
Authority of Singapore.  
As we push for a higher share of renewables in the power sector, this will also translate to a higher 
share of renewables in sectors with increased electrification. For instance, we are  electrifying the 
transport sector, and have a 2040 target to phase out internal combustion engine (ICE) vehicles and 
have all vehicles run on cleaner energy. We will also be requiring that all new car and taxi 
registrations be of cleaner -energy models by 2030. To do so, we will make it easier to buy and own 
Electric Vehicles (EVs) by building up the EV charging infrastructure, including having 60,000 EV 
charging points by 2030, and reducing road tax for mass -market EVs.  
Page 85 -86  
4.2.4 Electricity  
4.19. Since the early 2000s, Singapore has progressively switched from fuel oil to natural gas. 
Today, 95% of Singapore's electricity is generated using natural gas. In addition to accelerating 
solar deployment, Singapore is also studying emerg ing technologies such as hydrogen for power WT/TPR/M/413/Add.1  
 
- 80 - 
 
  generation in the longer term. Due to the lack of alternative energy options, Singapore is also looking 
into leveraging regional power grids to overcome geographical constraints and access other clean 
energy sour ces. Chart 4.4 provides the energy sources mix for the generation of electricity.  
4.23. The remainder of the electricity comes from refuse/biomass, coal, petroleum products, and 
solar, but none of these sources accounts for more than 3%, even though Singap ore has set targets 
for 2030 for solar capacity (2 GWp) and storage (200 megawatts).  
Question:  
60. Singapore's share of refuse/biomass in the energy sources mix for the generation 
of electricity decreased during the period 2015 -2019. Going forward, what is Si ngapore's 
plan to increase its share of clean energy sources in the mix?  
Response 60 : In February 2021, Singapore launched our Singapore Green Plan 2030, which charts 
ambitious and concrete targets over the next ten years to advance our national agenda on 
sustainable development. We have set out ambitious plans under the Plan, in support of the energy 
transition and green economy.  
As part of Singapore's energy transition, Singapore will leverage Four "Switches" (i.e. natural gas, 
solar energy, regional pow er grids, and emerging low -carbon alternatives such as hydrogen and 
carbon capture, utilisation and storage (CCUS)) to help decarbonise our power grid.  
About 95% of Singapore's electricity is generated using natural gas, the cleanest form of fossil fuel. 
It will continue to be a dominant fuel not just in Singapore but also in the energy transition for 
various countries, especially those which are alternative energy disadvantaged. Hence, we are 
working with our industry stakeholders to increase the efficien cy of gas -fired power plants to reduce 
carbon emissions.  
Singapore is accelerating our efforts to grow solar energy, which is our most promising renewable 
energy option. We are advancing our solar deployment target to 1.5 gigawatt -peak (GWp) by 2025, 
which  will be an almost four -fold increase from our current solar capacity. By 2030, we aim to deploy 
at least 2 GWp of solar.  
To do so in land -scarce Singapore, aside from rooftops, we have been seeking innovative deployment 
sites such as floating photovoltaic s (PVs) on reservoirs and offshore sea space. For example, in 
July 2021, Singapore officially opened the large -scale 60 megawatt -peak floating photovoltaic 
system at Singapore's Tengah Reservoir, which is about the size of 45 football fields. To address 
intermittency of solar power and to keep our grid stable, we also aim to deploy 200 megawatts of 
energy storage systems (ESS) by 2025. However, there are limits to solar deployment in Singapore 
due to our land constraints, and it is necessary for us to explo re low -carbon alternatives such as 
hydrogen, CCUS  technologies, and regional power grids.  
The development of regional power grids can provide greater resilience and stability for the entire 
system across the region, and also allow countries with an abunda nce of hydropower and other 
renewable energy to export electricity to other countries. Singapore is keen to work with various 
countries in the region to develop a regional grid to facilitate this.  
As a start, the Energy Market Authority of Singapore (EMA) is working towards a two -year trial to 
import up to 100 megawatts (MW) of electricity from Malaysia. The trial aims to test the technical 
and regulatory frameworks for electricity imports, paving the way for larger -scale imports from the 
region in the futu re. 
At the same time, we are working closely with Lao PDR, Thailand and Malaysia to achieve multilateral 
electricity trading through the Lao PDR -Thailand -Malaysia -Singapore Power Integration Project 
(LTMS -PIP). This will help to promote greater infrastruct ural connectivity, resilience and stability for 
the entire system in the ASEAN region and contribute to ASEAN's sustainable energy goals.  
Singapore will also explore emerging low -carbon technologies such as hydrogen and CCUS. Low -
carbon hydrogen, when eco nomically viable, is expected to play a major role in decarbonising the 
power sector in Singapore, as it can generate carbon -free electricity. It can also be used as feedstock WT/TPR/M/413/Add.1  
 
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  for our petrochemical industry and in heavy goods vehicles (using hydrogen fuel cells) and the 
maritime sector.   
61. In increasing share of clean energy sources in Singapore's energy sources mix, what 
is the country's plan for feedstock use? Will Singapore be interested in using palm 
biomass?  
Response 61 : Singapore has an 80:20 coal -bioma ss co-firing plant that uses Palm Kernel Shells 
(PKS) as part of its fuel mix. For power generation, Singapore is open to exploring different biomass 
options that are cost competitive, environmentally sustainable and have a reliable supply source. 
Biomass -fired power generation in Singapore is limited due to a lack of viable solutions to repurpose 
the large amount of waste ash generated from the combustion of solid biomass such as PKS. We will 
continue to monitor developments that could help address the was te issue and hence, enable the 
use of biomass for large -scale power generation.  
On palm biomass, palm -based waste and residues such as palm fatty acid distillate is already being 
used by industry (a portion of which is sourced from Malaysia), and we will be keen to increase the 
use of palm biomass subject to its cost, decarbonisation potential, and availability of feedstock.  
 WT/TPR/M/413/Add.1  
 
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  UNITED KINGDOM  
Secretariat Report (S413)  
SUMMARY   
Paragraph 19   
UK Question 1:  The report makes mention of 13 new MRAs being concluded since 2016, 
who were these MRAs agreed with and through what mechanism were they processed?  
Response 1:  The 13 new MRAs are for the accreditation of conformity assessment, covering areas 
such as environmental, energy, information, occupational healthand safety management systems 
certifications; personnel certification and proficiency testing providers under the MRA recognition 
frameworks of the Asia Pacific Accreditation Cooperation (APAC), the International Laboratory 
Accreditation  Cooperation (ILAC) and International Accreditation Forum (IAF).  
These MRAs are established through the mechanism of peer evaluations conducted by overseas 
accreditation experts. The recognition of our accreditation schemes is based on demonstrated 
complia nce to international standards such as ISO/IEC 17011 and relevant standards for conformity 
assessment bodies.  
1. ECONOMIC ENVIRONMENT   
1.1.1 Main Features of the Economy   
Paragraph 1.8   
UK Question 2: Going forward, what will Singapore be doing to support the inflow of 
higher -skilled foreigners?  
Response 2 : Singapore's foreign workforce policies have always strived to ensure that the foreign 
workforce complements the local workforce. We constantly review our policies, taking into account  
feedback from stakeholders so as to achieve our objectives of a strong local workforce, 
complemented by a diverse foreign workforce.  
3. ECONOMIC ENVIRONMENT   
1.1.1 Main Features of the Economy   
Paragraph 1.8   
UK Question 3: Could Singapore provide more de tail on what is meant by a "measured 
dependence" on lower -skilled foreign labour?  
Response 3:  Singapore is a small country with limited land and infrastructural constraints. Hence, 
Singapore cannot sustain an unrestrained growth in lower -skilled foreign la bour. The Government 
therefore seeks to calibrate its policies so that companies will continue to invest in productivity 
improvements, improve the skills of their workers and reduce their reliance on manpower additions 
to achieve business growth.  
We regula rly adjust our policies to encourage a more sustainable and resilient workforce at the lower -
skilled level, in tandem with industry transformation efforts to encourage businesses to adopt 
automation and raise productivity.  
3 TRADE POLICIES AND PRACTICES BY  MEASURE   
3.3.1.2 Tax and non -tax incentives   
Paragraph 3.59   WT/TPR/M/413/Add.1  
 
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  UK Question 4: Could Singapore explain why it considers that the co -funding provided to 
the manufacturing sector by the Resource Efficient Grant for Energy (REG(E)) is not 
considered a subsidy within the meaning of the Agreement on Subsidies and 
Countervailing Measures (ASCM)?  
Response 4:  Singapore does not consider the Resource Efficient Grant for Energy (REG(E)) to be 
notifiable under the SCM Agreement as it is available to all Singapo re-based companies with 
manufacturing and data centre activities, and open to both local and foreign companies. The grants 
are designed to provide support to eligible companies to improve their energy efficiency or other 
forms of specific emissions reducti on, and not meant to promote any enterprise or industry. The 
grants are also not contingent on the company's export performance or local content requirements.  
3 TRADE POLICIES AND PRACTICES BY MEASURE  
3.1 Measures Directly Affecting Imports  
3.1.4 Other cha rges affecting imports  
3.1.4.3 Excise duties  
Paragraph 3.26.  
Table 3.5 Excise duty rates and changes, 2016 -21 
UK Question 5: Will Singapore consider reducing significantly the very high rate of excise 
tax applicable to spirits (and wines), with a view to r edirecting trade from illicit to 
legitimate channels, thereby boosting legitimate businesses and potentially increasing its 
revenue from taxation?  
Response 5:  Singapore's excise duties aim to mitigate the excessive consumption of liquor and 
associated social costs. Such duties also apply to locally produced liquor. As part of Singapore's 
efforts to combat illicit liquor trade and production, we conduct regular enforcement operations to 
interdict manufacturing, supply, and distribution of illi cit liquor. We also regularly review its liquor 
excise rates to keep pace with the changing social and economic trends.  
UK Question 6: Will Singapore also consider equalising the rates per litre of pure alcohol 
(lpa) for beer on the one hand and, on the ot her, wines and spirits, at a rate equal to or 
lower than that for beer (S$62 per  lpa)?  
Response 6 : Singapore's excise duties aim to mitigate the excessive consumption of liquor and 
associated social costs. The current excise duty rates are $60 per litre of  alcohol for beer, and $88 
per litre of alcohol for wine and spirits.  
We regularly review our liquor excise rates to keep pace with the changing social and economic 
trends.  
3 TRADE POLICIES AND PRACTICES BY MEASURE   
3.3 Measures Affecting Production and Trade   
3.3.3 Sanitary and phytosanitary (SPS) requirements   
3.3.3.1 Overview   
Table 3.8 Main amendments to SPS legislation, 2016 -August 2020   
UK Question 7: In addition to the phytosanitary requirements of the legislation listed in 
Table 3.8 , are there any marketing requirements (such as quality standards, labelling 
requirements, registration of operators etc) for seeds, plants or plant propagating 
material, and if  so is there a website or other publication providing guidance on these 
require ments?  
Response 7 : Under the Control of Plants Act and its subsidiary legislations, there is currently no 
marketing requirement for seeds, plants, or plant propagating materials in Singapore.  
3 TRADE POLICIES AND PRACTICES BY MEASURE   
3.3 Measures Affectin g Production and Trade   WT/TPR/M/413/Add.1  
 
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  3.3.3 Sanitary and phytosanitary (SPS) requirements   
Paragraph 3.93   
UK Question 8: There is an assurance that SPS measures are consistent with international 
standards,  guidelines  and recommendations. Does this extend to quality and  registration 
standards for seeds,  plants  or plant propagating material, such as those of the 
International Seed Testing Association (ISTA), the OECD Seed Schemes or the 
International Union for the Protection of New Varieties of Plants (UPOV)?  
Response 8:  The registration of new plant varieties is in accordance with the Singapore Plant Variety 
Protection Act (see: https://sso.agc.gov.sg/Act/PVPA2004 ), which is modelled after the UPOV 
Convention, and Rules (see: https://sso.agc.gov.sg/SL/PVPA2004 -R1). Singapore has been a 
member of the UPOV since 30 July 2004.  
Singapore does not impose quality and registration requirements on the importation of seeds, pla nts 
or plant propagating material – including those of the ISTA or the OECD Seed Scheme that are 
mentioned in the question.  
3 TRADE POLICIES AND PRACTICES BY MEASURE   
3.3 Measure Affecting Production and Trade   
3.3.5 State trading, state -owned enterprises (SOEs), and privatization  
UK Question 9: How many SOEs does Singapore maintain, and which sectors do they 
operate in? And what is the contribution of government -linked companies to GDP?  
Response 9 : The Singapore government has two investment en tities, GIC and Temasek. GIC is a 
professional fund management organisation that manages Government assets. It has a globally 
diversified portfolio spread across various asset classes. As a rule, GIC does not invest in Singapore 
companies.  
Temasek is an in vestment company managed on commercial principles to create and deliver 
sustainable long -term value for its stakeholders. Information on Temasek's major portfolio 
companies is in its annual report.  
https://www.temasek.com.sg/en/our -financials/library/temasek -review . 
The Singapore Government does not specifically track the GDP contribution of Temasek portfolio 
companies.  
UK Question 10: How do the borrowing costs of governmen t linked  companies in 
Singapore (i.e.  those Singaporean companies majority owned by Temasek) compare with 
the borrowing costs of non -government linked companies?  
Response 10 : The Government maintains an arms -length relationship with Temasek and its 
portfolio companies.  
Accordingly, the Government is not privy to their borrowing costs beyond what is already publicly 
available.  
UK Question 11: In the event of serious losses incurred by one of Temasek's Singapore -
based portfolio companies, what levers d oes Temasek have to mitigate the extent of the 
loss? Are these levers commonly used?  
Response 11 : Temasek operates and invests on a commercial basis. It is treated the same as any 
other private sector investor. Temasek has the same rights and recourse to i ts investments like any 
other shareholder.  
UK Question 12: We understand that up to 50% of net returns from reserves managed by 
GIC flow back to the Singapore budget. What share of the Singapore budget is made up WT/TPR/M/413/Add.1  
 
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  of these returns? What effect would a signi ficant drop in these returns have on the fiscal 
situation of Singapore?  
Response 12: The Net Investment Returns Contribution (NIRC) supplement our annual Budget. 
The NIRC comprises:  
• Net Investment Returns. Up to 50% of the expected long -term real returns  on the net assets 
invested by GIC, MAS and Temasek.; and  
• Net Investment Income. Up to 50% of the net investment income derived from the past 
reserves from the Government's remaining financial assets.  
The NIRC is estimated to be S$19.6 billion in Financi al Year (FY) 2021.  
3 TRADE POLICIES AND PRACTICES BY MEASURE   
3.3.7.3 International context   
Paragraph 3.158.   
UK Question13: Are there ongoing plans to increase counterfeit and anti -piracy measures?  
Response 13:  We are in regular contact with stakeholders, and routinely update our laws and take 
appropriate action to tackle piracy and the sale and distribution of counterfeit goods.  
One immediate plan is to raise public awareness regarding the new provisions against those who 
knowingly commercial ly deal in illicit streaming devices (ISDs), or with services that primarily 
facilitate access to copyright infringing works.  
4 TRADE POLICIES BY SECTOR  
Paragraphs 4.7 4.8 4.9  
UK Question 14: How does Singapore plan to develop its current carbon tax policy  to help 
it achieve 'peak emissions around 2030 and net -zero emissions as soon as viable', whilst 
mitigating any potential leakage risk?  
Response 14:  We are in the process of reviewing the carbon tax, and will take into account  several 
factors, including the progress of our domestic mitigation efforts in meeting our climate change 
targets as well as the impact on our economic competitiveness, relative to our key competitors and 
over time. As part of the review, we will consult t he industry and expert groups.  
Our carbon tax is not a standalone measure and is a part of a comprehensive suite of mitigation 
measures to reduce emissions, create green growth opportunities, and transit to an energy -efficient 
low-carbon economy. These mea sures include enhancing energy efficiency, phasing out internal 
combustion engine vehicles, and accelerating solar deployment, among others.  
4. TRADE POLICIES BY SECTOR  
4.2 Mining and Energy  
Paragraph 4.7  
UK Question 15: How (if at all) is Singapore greeni ng the supply of its financial services 
and FDI (mode 3?) to support the transition to Net Zero (i.e.  how are they testing that for 
compliance with Paris Agreement?) [Note EU Carbon Border Adjustment Mechanism 
covers goods and services but is a bilateral t rade mechanism].  
Response 15:  Consistent definitions of what constitutes green activities are key to facilitating cross -
border capital flows towards sustainable outcomes.  MAS is actively involved in international forums 
developing green taxonomies, as a me mber of the International Platform for Sustainable Finance WT/TPR/M/413/Add.1  
 
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  and working with fellow ASEAN regulators to develop an ASEAN taxonomy aligned with international 
benchmarks while taking account of the regional context.  
Singapore is also developing a green and t ransition taxonomy to guide Singapore -based financial 
institutions in their financing activities in Singapore and the region. Referencing international best 
practices and taking into consideration the regional context, the proposed taxonomy sets out a 
"traffic light" system to classify green, yellow (transition) and red activities according to their level 
of alignment with environmental objectives.  
As outlined under the Singapore Green Plan 2030, we will also ensure that new carbon -intensive 
investments br ought into Singapore are among the best -in-class in terms of carbon and/or energy 
efficiency.  
In addition, MAS is supporting the development of green finance solutions and markets, including 
through grant schemes to defray the costs of engaging independent sustainability advisory and 
assessment service providers to validate the green and sustainability credentials of bonds and loans 
in line with international standards.  
UK Question 16: How (if at all) is Singapore looking at trade policy measures  to increase 
the availability of technology and components, including imported goods and services, to 
support its renewable energy transition?  
Response 16:  Singapore recognises the importance of the use of environmental goods and services 
in supporting cli mate protection goals, including the transition to low -carbon energy sources. To this 
end, Singapore continues to maintain an open and near tariff -free regime, as well as clear and 
transparent import requirements where relevant, to facilitate the import of  environmental goods and 
technologies for use by businesses and households alike.  
UK Question 17: There are recognisably high opportunities for ASEAN energy grid 
integration in supporting an energy transition, does Singapore support the removal of 
trade ba rriers to the efficient adoption of renewable energy in the region following the 
recent consideration of this subject by WTO and WEC?  
Response 17 : The development of regional power grids can provide greater resilience and stability 
for the entire system ac ross the region, and also allow countries with an abundance of hydropower 
and other renewable energy to export electricity to other countries. Singapore is keen to work with 
various countries in the region to develop a regional grid to facilitate this. In line with global efforts 
to reduce greenhouse gas emissions, Singapore supports efforts to promote, develop and increase 
power generation from low -carbon energy sources, particularly through facilitating trade and 
investment. We also cooperate regionally w ith countries who are similarly keen towards removing 
or reducing tariffs as well as non -tariff barriers and fostering regulatory convergence with or towards 
regional and international standards to promote trade and investment in renewable energy 
(e.g. solar energy). In the case of solar energy, which is our most promising renewable energy 
option, we do not apply any import tariffs on solar cells and modules.  
We have recently launched a request for proposal to trial 100 MW of small -scale electricity import s 
from Malaysia. The experience from small -scale trials will act as a pathfinder for us to explore 
electricity imports projects that are of larger scale.  
4 TRADE POLICIES BY SECTOR   
4.4 Services   
4.4.1 Financial Services   
4.4.1.1 Banking Services   
Paragrap h 4.62 (digital Wholesale Bank licences)  
UK Question 18: The UK welcomes the initial success of the digital Wholesale Bank and 
digital Full Bank licence pilot scheme conducted in 2019. Can Singapore please expand 
upon:  WT/TPR/M/413/Add.1  
 
- 87 - 
 
  a. How Singapore will be reviewing the  pilot and which factors it will consider  to 
determine  whether or not  it is a success?   
b. If and when  an expansion of the pilot scheme will take place, noting that the 
announcement of the first round of licences was announced in 2020?   
c. What step s Singapore will take to ensure the application process and selection 
criteria are clear to all applicants from around the world?   
d. What steps Singapore will take to ensure meaningful engagement with firms on 
the regulatory issues surrounding the award of t he above licences?   
Response 18 : MAS has set out the assessment criteria for the digital bank licence applications 
clearly and publicly. The applicants were assessed for their  
• Value proposition of their business model, incorporating the innovative use o f technology to 
serve customer needs and reach under -served segments;  
• Ability to manage a prudent and sustainable digital banking business ; and  
• Growth prospects and other contributions to Singapore's financial centre  
Relevant information regarding th e assessment criteria and application process are easily accessible 
on MAS' website.  
In the immediate term, MAS is engaging closely with the digital banks on their progress to commence 
operations, including on regulatory and supervisory issues. After which , MAS will observe how the 
digital banks complement the existing financial institutions in serving business needs, and whether 
MAS' policy objectives are met. As MAS gains more experience with the digital banks and taking into 
consideration industry feedba ck, MAS will review whether to grant more of such digital Wholesale 
Bank licences in the future.  
4 TRADE POLICIES BY SECTOR   
4.4 Services   
4.4.1 Financial Services   
4.4.1.3 Securities, asset management, and stock market services   
Paragraph  4.85 (Variable Capital Companies Act 2018)   
UK Question 19: The UK welcomes Singapore's efforts to offer asset managers greater 
operational flexibility and economies of scale, such as through the Variable Capital 
Companies (VCC) Act 2018, which c ame into force  on January 2020. In this spirit, will 
Singapore support global norms – such as portfolio delegation – which offer similar 
flexibility to the sector?  
Response 19 : Singapore will continue to monitor and respond to developments in the global as set 
management industry, including developments relating to portfolio delegation.  
4 TRADE POLICIES BY SECTOR   
4.4 Services   
4.4.1 Financial Services   
4.4.1.4 Financial Technology (fintech), e -payments and cryptocurrency regimes   
4.4.1.4.2 E - payments   
Para graph  4.110   
UK Question 20: The UK welcomes Singapore's ongoing work to develop its e -payment's 
ecosystem. Can Singapore please expand upon how the current review of the cap on e -
wallets supports this agenda ?  WT/TPR/M/413/Add.1  
 
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  Response 20 : The intent of the e -wallet caps is to focus the use of e -wallets on users' day -to-day 
transactions, and maintain the distinction between e -money and bank deposits. They were calibrated 
after an extensive public consultation, starting from 2018, over two years before the Payment 
Services Act came into force in 2020. We have commenced a data -driven review of the e -wallet caps 
in view of potential changes in consumer behaviour and usage of e -wallets in Singapore, and will 
also consider the impact to the stability of the Singapore financial s ystem and the need to protect 
consumers from losses to their e -wallets.  
4 TRADE POLICIES BY SECTOR   
4.4 Services   
4.4.1 Financial Services   
4.4.1.4 Financial Technology (fintech), e -payments and cryptocurrency regimes   
4.4.1.4.2 E - payments   
Paragraph  4.111   
UK Question 21: Can Singapore please detail how the proposed "modular", "risk based" 
and custom fitted regulation of retail payment services will encourage growth in the 
market for payment service providers ?  
Response 21:  Under the Payment  Services Act, payment services are regulated for four key risks 
– money laundering and terrorism financing, user protection, interoperability and technology risks. 
A payment service provider needs to hold one of the three classes of licences (i) money -changing; 
(ii) standard payment institution; or (iii) major payment institution.  
Each of the licence classes entitle the payment service provider to provide a different scope and 
scale of payment services. Accordingly, the regulatory requirements for each cl ass of licence are 
calibrated based on the risks posed by the services provided.  
(i) Money -changing licensees can provide only money -changing services. As these are over -the-
counter services typically offered by small businesses with limited risks, the reg ulatory requirements 
are primarily focused on addressing money laundering and terrorism financing risk.  
(ii) Standard payment institutions can provide any of the seven regulated payment services, capped 
at specified size thresholds. These entities thus ope rate at a smaller scale. Correspondingly, certain 
requirements such as safeguarding of funds are not imposed but replaced with disclosures. This 
allows new players to innovate and provide small scale regulated payment services in a lighter 
regulatory envir onment.  
(iii) Major payment institutions can go above the specified size thresholds. As the scale of their 
operations are larger, they pose more risks and are thus subject to the full scope of regulations. 
Standard payment institutions can apply to upgrade  to this licence class as they grow in size.  
This licensing approach thus allows both small and large payment service providers to operate and 
grow in Singapore with risk -appropriate requirements.  
Government Report (G413)  
2 RESPONDING TO THE COVID -19 PANDEMIC  
Paragraphs 2.9, 2.11, and 2.12  
UK Question 22: Recognising the important role that trade plays for sustainable 
development, does Singapore foresee any domestic initiatives or reforms in the labour 
rights  area in the near future?  
Response 22:  We constantly review our labour regulations, policies and measures to ensure they 
remain relevant. For instance, as Singaporeans are living for longer and in better health, many of 
them want the option to continue working to stay meaningfully engaged and to build up more savings 
for retirement. Singapore has thus accepted the recommendations of the Tripartite Workgroup on 
Older Workers in 2019 to raise the minimum statutory retirement age and re -employment age, from WT/TPR/M/413/Add.1  
 
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  62 to 63, and 67 to 68 respe ctively with effect from 1 July 2022, as well as to 65 and 70 respectively 
by 2030, depending on economic conditions.  
3 ECONOMIC  OUTLOOK  AND NAVIGATING RECOVERY  
3.1 Transforming the Singapore economy   
Paragraph 3.5   
UK Question 23: Does a private -public pa rtnership have any implications on government 
subsidies policy?   
Response 23 : The public -private partnerships have no implications on any government subsidies 
policy.  
3. ECONOMIC OUTLOOK AND NAVIGATING RECOVERY   
3.3 Becoming a 'Bright Green Spark'   
Paragra ph 3.1.1   
UK Question 24: Can Singapore provide more detail on their plans to develop renewable 
energy at home?   
Response 24:  Singapore lacks energy resources and imports most of our energy. In addition, 
Singapore does not have the land area and climatic c onditions necessary for large -scale deployment 
of renewable energy sources such as hydropower, tidal and wind based on current technologies. 
Nonetheless, we are facilitating the adoption of renewable energy where it is technically and 
economically feasible  to do so.  
Singapore is accelerating our efforts to grow solar energy, which is our most promising renewable 
energy option. We are advancing our solar deployment target to 1.5 gigawatt -peak (GWp) by 2025, 
which will be an almost four -fold increase from our  current solar capacity. By 2030, we aim to deploy 
at least 2 GWp of solar. To do so in land -scarce Singapore, we have been seeking innovative 
deployment sites such as floating photovoltaics (PV) on reservoirs and offshore sea space. For 
example, in July 2 021, Singapore officially opened the large -scale 60 megawatt -peak (MWp) floating 
photovoltaic system at Singapore's Tengeh Reservoir, which is about the size of 45 football fields.  
Aside from reservoirs and offshore sea space, rooftops have also been large ly used as deployment 
sites. The SolarNova programme was launched in 2014. It is a Whole -Of-Government effort led by 
the Economic Development Board (EDB) and the Housing Development Board (HDB) to accelerate 
the deployment of solar PV systems in Singapore,  with a capacity target of 540 MWp on HDB public 
housing blocks by 2030. The solar energy harnessed is used to power common services in the HDB 
estates such as elevators and lighting in common areas.  
3 ECONOMIC OUTLOOK AND NAVIGATING RECOVERY   
3.3 Becoming a 'Bright Green Spark'   
Paragraph  3.1.1   
UK Question 25: Is Singapore considering setting a target date for reaching net -zero 
emissions?   
Response 25:  Every country has a unique path to net -zero. As a small city -state with limited land 
and alterna tive energy sources, Singapore's trade -offs are much starker than what most countries 
face. Nonetheless, Singapore is committed to doing our part to contribute meaningfully to the global 
fight against climate change. For example, we strive to maximise the deployment of solar panels, 
including one of the world's floating largest floating solar farms in Tengah reservoir. We have also 
put in place a broad -based carbon tax to help companies internalise the cost of carbon, and we are 
reviewing the post -2023 carb on tax trajectory and level to spur the reduction of our carbon footprint, 
promote green growth whilst maintaining overall economic competitiveness.  WT/TPR/M/413/Add.1  
 
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  How soon Singapore can achieve net -zero emissions will depend on factors such as global 
advancement in low -carbon technologies, feasibility of clean energy imports, and the establishment 
of well -functioning carbon markets. These will require technological advances, as well as regional 
and international cooperation, which are not always within our control.  
We w ill press ahead to implement our programmes such as the Singapore Green Plan 2030, and 
continue to review our climate goals with the aim of achieving net -zero emissions as soon as viable.  
3 ECONOMIC OUTLOOK AND NAVIGATING RECOVERY   
3.3 Becoming a 'Bright Green Spark'   
Paragraph  3.13. Towards a  zero waste  nation   
UK Question 26:  The Zero Waste Masterplan details  Singapore's  aim to adopt a circular 
economy approach and to turn waste into inputs for production. Will this initiative look 
further afield at international supply chains and consider how trade rules can be amended 
to help increase the success of this initiative?   
Response 26 : The Zero Waste Masterplan focuses on domestic waste management strategies and 
sets out Singapore's aspiration t o adopt a circular economy approach towards a zero waste nation. 
At the international level, Singapore will continue working with partners, including through 
multilateral and bilateral partnerships, to promote circular economy approaches for environmental 
and resource sustainability, and facilitate trade and investment in environmentally sustainable goods 
and services.  
4 OPEN, FACILITATIVE AND INCLUSIVE TRADE INFRASTRUCTURE   
Helping SMEs adapt to the digital economy   
Paragraph  4.3 
UK Question 27: Of the fun ds the Singapore Government has committed to supporting 
businesses in services and the digital economy, are these only open to Singaporean or 
Singapore -based industries? If so, are there any funding or assistance options open to 
foreign businesses that do not require a local presence but are looking to break into the 
Singapore market?  
Response 27 : A variety of incentives are provided to support companies of all sizes, including SMEs . 
Generally, to be eligible, companies are required to carry out substantive  operations in Singapore 
and commit to certain levels of investment, expenditure, and skilled employment.  
For funding or assistance available for foreign businesses, please refer to the Economic Development 
Board or Ministry of Trade and Industry.  
4 OPEN,  FACILITATIVE AND INCLUSIVE TRADE INFRASTRUCTURE   
Helping SMEs adapt to the digital economy   
Paragraph  4.4  
UK Question 28: The Go Digital programme launched by the  Infocomm  Media 
Development Authority in April 2017 to support SMEs currently has  a number 
of restrictions for a business to apply for assistance under this scheme (on business 
registration, shareholding for businesses, turnover in Singapore, etc.).  What 
consideration has been given to relaxing these rules so a company based abroad could 
access t his assistance when moving into the Singapore market?   
Response 28 : Singapore remains an open and connected hub for business. We will constantly 
enhance our support for building up local SMEs and capabilities, while also tapping on global 
companies to bring in complementary business.  WT/TPR/M/413/Add.1  
 
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  Companies that are based abroad and looking to move into the Singapore market can explore 
relevant support provided by the Economic Development Board.  
4. OPEN, FACILITATIVE AND INCLUSIVE TRADE INFRASTRUCTURE   
Helping SMEs adapt to the digital economy   
Paragraph  4.5 
UK Question 29: Recognising that more than 80% of residents and businesses are 
on PayNow:   
a. What protections for consumers are integrated into this system?  
b. The PayNow  system is a direct transfer from a  person's account to another 
individual or business, so what kind of guarantees does a consumer have 
against a fraudulent transaction?  
c. How would consumers go about disputing a transaction on  PayNow  (as a 
person could with MasterCard chargeback, PayPal Acco unt dispute mechanism, 
etc.)?   
Response 29 : PayNow is a central addressing scheme that links a unique identifier (e.g. mobile 
number) to a bank account or an electronic wallet (e -wallet) offered by licensed payment service 
providers (PSPs). After a consume r initiates a PayNow transaction, the payment would be processed 
by his or her bank or PSP no differently from other fund transfers from a bank account or an e -
wallet. Thus, the same protection measures and dispute resolution processes provided by banks an d 
PSPs will apply to PayNow transactions. This includes controls, such as multi -factor authentication 
using one -time passwords, to keep online banking transactions secure. The E -payments User 
Protection Guidelines issued by MAS also sets out expectations f or these financial institutions to 
provide baseline protection to consumers from losses arising from unauthorised or erroneous 
transactions.  
4 OPEN FACILITATIVE AND INCLUSIVE TRADE INFASTRUCTURE   
Paragraph  4.6 Helping SMEs adapt to the digital economy   
UK Question 30: The UK welcomes the development of government supported B2B 
platforms such as the MAS supported API Exchange. Such projects will help to support 
the global FinTech ecosystem. How does Singapore plan to engage regularly with 
international regulators to ensure high quality and harmonised global FinTech regulation?  
Response 30 : The APIX Platform runs hackathons focused on emerging areas such as Green 
FinTech and Central Bank Digital Currency. Through these hackatons, we aim to e ngage Financial 
Institutions and FinTechs as well as the global regulatory community to better understand the 
opportunity and risk for new emerging technology. This aims to support the global development 
efforts on this front.  
6. REGIONAL AND BILATERAL TRA DE COOPERATION   
6.4 Green Economy Agreements   
Paragraph  6.4 Green Economy Agreements  
UK Question 31: Can Singapore provide more detail on their plans to explore Green 
Economy Agreements (GEAs)? Could  these  be used to trade renewable energy and 
technology w ith other countries, and would this involve liberalisation of trade in 
renewable energy and technology?   
Response 31 : Singapore believes that sustainability must be mainstreamed into economic activities 
to achieve emission reductions, while building new gr een capabilities to do so. Some of these can 
only take off in a big way if countries come together and agree on common rules and standards, 
which we hope the GEA would contribute to. Facilitating trade and other collaboration in low -carbon WT/TPR/M/413/Add.1  
 
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  solutions are li kely to feature in the GEAs, though the final scope would depend on the bilateral 
partner.  
6 REGIONAL AND BILATERAL TRADE COOPERATION   
Paragraph  6.4 Green Economy Agreements   
UK Question 32:  The report describes the importance of Green Economy Agreements. Are 
there insights that Singapore has gleaned from its experience of these Agreements that 
could provide an example for other countries to follow?  
Response 32 : Singapore is currently exploring a Green Economy Agreement with Australia. 
Discussions are at a preliminary stage.  
6 REGIONAL AND BILATERAL TRADE COOPERATION   
Paragraph  6.4 Green Economy Agreements  
UK Question 33: The UK welcomes the announcement of Singapore's planned Green 
Economy Agreements. It would be helpful to understand what types of measures and 
initiatives Singapore intends to include in these agreements.  In particular it  would be 
helpful to know if they will include reference to any of the following initiatives:   
a. The Taskforce for Scaling the Voluntary Carbon Market   
b. The UK's Volunt ary Carbon Markets Integrity Initiative   
c. Mandatory Climate Related Financial Disclosures, as aligned with the  Task 
Force for the Climate -related Financial Disclosures (TCFD) recommendations   
d. The Glasgow Financial Alliance for Net Zero   
e. The work of the  International Financial Reporting Standards (IFRS) 
Foundation to establish an International Sustainability Standards Board 
(ISSB)  
Response 33:  Singapore envisages that the Green Economy Agreement would support 
internationally -recognised initiatives by fosterin g regulatory convergence onto common rules, 
principles and standards through close collaboration with industry stakeholders. This would also 
depend on discussions with the GEA partner.  
 WT/TPR/M/413/Add.1  
 
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  PHILIPPINES  
PART I: QUESTIONS REGARDING THE SECRETARIAT REPORT  
I. ECONOMIC ENVIRONMENT  
Para 1.33. (Page 23)  
Most of Singapore's merchandise trade is carried out with economies in Asia and Oceania, reflecting 
the country's participation in regional value chains and economic integration schemes; nonetheless, 
the shares of some trading partners outside this region have seen slight increases in the last few 
years. In 2020, 73.0% of Singapore's merchandise exports were shipped to markets in Asia and 
Oceania (compared with 77.6% in 2015). The  share of the Association of Southeast Asian Nations 
(ASEAN) was 25.1% (a decrease from 30.1% in 2015), with Malaysia and Indonesia receiving more 
than half of Singapore's exports to that group. China maintained its position as Singapore's largest 
individu al market, accounting for 13.7% of total exports in 2020, followed by Hong Kong, China with 
12.4%. The shares of the United States and the EU -27 increased during the review period and were 
10.8% and 8.5%, respectively, in 2020 (Chart 1.2 and Table A1.2).  
Question:  
1. What were the reasons for the increased shares of total merchandise trade of 
Singapore with the United States and the EU -27 in 2020 amid the COVID -19 pandemic?  
Response 1:  Total merchandise trade fell in 2020 mainly due to the decline in oil trad e amid lower 
oil prices while non -oil trade grew.  
Against this backdrop, the increased share of Singapore's total trade with the US and EU -27 was 
mainly reflected in exports – especially non -oil exports which formed the bulk of Singapore's exports 
to the U S and EU -27 – while import shares remained broadly similar. Electronics, a key export to 
both the US and EU -27, grew by around 20% year -on-year amid the robust global semiconductor 
demand in 2020. Growth was largely driven by integrated circuits, parts of PCs and 
telecommunication equipment.  
III. TRADE POLICIES AND PRACTICES BY MEASURE  
Para 3.18 (Page 45)  
In 2021, Singapore's applied MFN tariff consists of 10,813 tariff lines at the 8 -digit level. All tariff 
lines are zero -rated, except for two product cate gories (comprising four tariff lines): stout or porter, 
and other beer made from malt, including ale. These products are subject to specific and bound 
tariffs (Table 3.2). On 15 April 2020, medicated samsu and other samsu were exempted from import 
duties i n accordance with the Declaration on Trade in Essential Goods for Combating the COVID -19 
Pandemic.  
Question:  
2. What other tariff policies were implemented by Singapore, if any, to facilitate or 
restrict trade in goods amid the COVID -19 pandemic?  
Response 2:  Under the Singapore -New Zealand Declaration on Trade in Essential Goods for 
Combating the COVID -19 Pandemic, in addition to exempting medicated samsu and other samsu 
from import duties, Singapore also committed to refrain from imposing export prohibitions or 
restrictions, as well as to expedite the movement through air and sea ports, for a list of essential 
goods including medical, hygiene, pharmaceutical and agricultural products.  
Beyond the Declaration, Singapore also implemented other trade facilitative  measures, including 
providing businesses with free viewing access to a number of international and Singapore standards 
and temporarily relaxing import licensing requirements for critical medical equipment such as 
thermometers and protective gear. Singapor e did not implement any tariff or non -tariff measures to 
restrict trade in goods amid the COVID -19 pandemic.  WT/TPR/M/413/Add.1  
 
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  Para 3.32 (Page 52)  
Rice, a key staple in Singapore, remains a controlled item for food security and price stability 
purposes, given that there is no local production of the crop. Import licences are required for all rice 
imports. In addition, import permits must be obtained for every import (and re -export) consignment 
of rice. There are different licences depending on the type of rice and purpose of  the import. A 
"stockpile licence" is needed for imports of stockpile -grade rice (white rice, basmati rice, ponni rice, 
and parboiled rice) to be sold for local consumption, and importers of stockpile rice are required to 
participate in the Rice Stockpile Scheme (RSS). Under the RSS, importers have to pre -commit to 
importing a monthly quantity destined for the local market, and keep a prescribed stockpile quantity 
in a government -designated warehouse. There is no maximum quota for the importation of rice.  
Question:  
3. Aside from licenses, what are the best practices of Singapore when it comes to 
importation of rice?  
Response 3 : Singapore has found licensing to be a key tool in building food resiliency as it allows 
sufficient in -country rice stock. It also provi des the government a platform to engage importers on 
rice import issues and to seek feedback on supply chain issues. In addition to licensing, we also 
encourage importers to import widely from a variety of sources and put in place business continuity 
plans  to address any disruption to their main import sources.  
Para 3.33 (Page 52)  
There have been no changes to the legal framework governing the application of anti -dumping and 
countervailing measures since the previous Review. The relevant legislation remains  the 
Countervailing and Anti -Dumping Duties Act, under which the Ministry of Trade and Industry (MTI) 
may initiate an investigation to determine whether goods are being dumped or whether a 
countervailable subsidy is being granted. Singapore has no anti -dumping or countervailing measures 
in force. It does not have any safeguard legislation.  
Question:  
4. What is Singapore's rationale for not having any safeguard legislation?  
Response 4 : As a firm supporter of free trade and the rules -based multilateral trading s ystem, 
Singapore seeks to minimise the use of trade remedy actions. Safeguard measures are typically 
taken to protect a specific domestic industry from an increase in imports which threaten to cause 
serious injury to the industry. Singapore has not imposed  any safeguard measures to -date and does 
not foresee the need to do so through enacting a safeguard legislation.  
Para 3.44 (Pages 55 -56) 
In the area of export promotion and marketing assistance, no new schemes have been introduced 
since the previous Review. Like its predecessor, ESG organizes business missions and other outreach 
events to help Singapore -based companies explore opportunities in foreign markets, establish 
networks with potential business partners, and build market knowledge. Th e assistance provided by 
ESG includes advisory services, information resources, and seminars and workshops to support 
companies' internationalization efforts. ESG is also engaged in promoting the use of Singapore's 
FTAs by locally based companies, through outreach events and one -to-one consultations, to raise 
awareness about market access opportunities and potential benefits under the agreements. The 
authorities indicate that, during the review period, ESG worked on expanding its reach to more 
companies, in cluding through closer cooperation with partners such as chambers of commerce and 
business federations.  
Question:  
5. Among the approaches used by Singapore in promoting the utilization of its FTAs, 
what has been the most effective in terms of recognizable imp act? Further, it is noted that WT/TPR/M/413/Add.1  
 
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  Singapore has a network of 27 FTAs. Does the Ministry of Industry and Trade have a 
separate undertaking/approach from the ESG in the promotion of Singapore's FTAs?  
Response 5 : Enterprise Singapore (ESG) is the primary Singapo re Government agency promoting 
the use of Singapore's FTAs to the Singapore business community. As a statutory board under the 
Ministry of Trade and Industry (MTI), ESG works closely with MTI for FTA promotion activities. Such 
activities involve Trade Asso ciations and Chambers, which collaborate with ESG on outreach events 
and one -to-one consultations to raise awareness about market access opportunities and potential 
benefits under the agreements. The outreach events are the most effective in driving awaren ess of 
FTAs while the one -to-one consultations with individual companies are targeted at increasing the 
usage of the agreements.  
Para 3.100 (Page 64)  
Between October 2015 and August 2020, Singapore notified 11 changes to SPS requirements 
regarding food pro ducts, of which 10 entered into force within that period, and 1 is to become 
effective in June 2021. The amendments relate to the Food Regulations (concerning, inter alia , 
partially hydrogenated oils, food additives, preservatives, and maximum residue limi ts), subsidiary 
legislation under the Sale of Food Act, and changes to veterinary import conditions for several meat 
and egg products.  
Question:  
6. One of the latest amendments to Singapore SPS requirements on food products is 
the prohibition on importation a nd use of partially hydrogenated oils as ingredient in all 
fats, oils and re -packaged foods sold in Singapore which took into force in June 2021. Can 
Singapore expound on the context of how this regulation was developed and the 
initiatives implemented to s upport Singapore -based manufacturers in reformulating their 
existing products affected by this regulation?  
Response 6 : In 2013, Singapore introduced a limit on the trans fat content of fats (i.e. margarines 
and shortenings) and oil products (i.e. cooking o ils) to no more than 2%, or 2 grams of trans -fat 
per 100 grams of product, to reduce Singapore consumers' trans fat intake from freshly -prepared 
foods. Trans fat levels must also be declared on the product packaging. These regulations apply to 
fats and oil s that are supplied to local food service establishments and food manufacturers; and sold 
in retail outlets (e.g. supermarkets).  
Since its introduction, the regulations have helped to reduce the average daily trans fat intake among 
Singapore consumers from  2.1g in 2010 to 1.0g in 2018. However, the regulations did not apply to 
pre-packaged food products, which has become the major source of artificial trans fat in our local 
diet. 
Therefore, Singapore introduced the ban on partially hydrogenated oils (PHO) a s an ingredient in all 
foods, which is the major source of artificial trans fat in our current food supply, to eliminate artificial 
trans fat in Singapore consumers' diets. This took effect in June 2021. This also follows WHO's call 
for countries to take s teps to eliminate artificial trans fat in our diets by 2023.  
Singapore consulted a diverse range of stakeholders, including importers, distributors, 
manufacturers, and retailers of products, on the ban on PHOs. Based on consultations with the 
industry, th e ban is feasible with the use of alternatives such as sunflower and canola oil, which are 
unsaturated and healthier. All stakeholders Singapore consulted were supportive of the proposed 
ban. 
The ban was announced in June 2019, to allow the industry time t o reformulate their products or to 
find new product sources. To support reformulation efforts by manufacturers, Singapore has a 
Healthier Ingredient Development Scheme (HIDS), where manufacturers can apply for grants worth 
up to $200,000 to assist in their  research and development efforts.  
Para 3.157 (Page 76)  WT/TPR/M/413/Add.1  
 
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  IPOS has also undertaken to promote innovation and IP commercialization by reducing application 
pendency periods with fast -track or acceleration programmes. Initially reserved for financial 
technology  and artificial intelligence (AI) patents, IPOS unveiled a new sector - and IP -neutral 
programme in 2020. Under SG IP Fast Track (SG IP FAST), patent applications that are first filed in 
Singapore can be granted in as few as six months. Applicants who have successfully requested 
patent acceleration under SG IP FAST can also request accelerated review of related trademark and 
registered design applications: a straightforward trademark application can be registered in as few 
as three months, and a straightforw ard industrial design application can be registered in just one 
month. The initiative seeks to give innovators and enterprises certainty about the scope of their 
rights, which can be leveraged into funding and used as a springboard into global markets.  
Question:  
7. What is the reckoning point of the six -month period for the granting of the patent 
application? Are there qualifications for an application to be accepted under the SG IP 
Fast Track?  
Response 7 : The six -month period is the time taken from filing of  the patent application to the 
grant of the patent. This excludes the time taken by applicant to request for certificate of grant after 
receiving a notice of eligibility from IPOS. Applicants have up to two months to file this request for 
certificate of gr ant. 
The qualifying criteria for applications to be placed under the SG IP Fast Track can be found in the 
following URL.  
https://www.ipos.gov.sg/docs/default -source/resources -library/patents/circulars/(2020) -circular -
no-2-launch -of-sg-patent -fast-track-programme -on-4-may-2020-(final).pdf  and  
https://www.ipos.gov.sg/docs/default -source/resources -library/patents/c irculars/(2020) -circular -
no-6---expansion -of-sg-patent -fast-track-programme -on-1-september -2020.pdf .  
Para 3.173 (Page 79)  
The Geographical Indications Act 2014 entered into force in 2019, in tandem with the general 
ratification timeline for the EUSFTA. Th e Geographical Indications Rules 2019 were promulgated to 
provide operational guidance for the new registration system. The Act and Rules were amended in 
2020 to provide greater clarity for traders and producers in light of lessons learned during the first  
year of implementation. The amendments specify the treatment of variants of an indication 
constituting a GI, clarify the requirements for filing a qualification of rights request, and replace the 
post-registration qualification of rights procedure with a new post -registration limitation of scope of 
rights procedure. As at August 2020, 141 GIs, out of 143 applications, had been registered; all 
except 1 originate from the European Union. More than half were for wines or spirits.  
Question:  
8. Are the registered GIs from EU covered in the list of GI products under EUSFTA? If 
so, did each of the product go through an application process to be a registered GI in 
Singapore ? 
Response 8 : Most of the registered EU GIs in Singapore are covered in the list of GIs products  
under EUSFTA.  
All the registered EU GIs in Singapore underwent the three -step process of application, substantive 
examination, and publication before registration was granted, as this is the legal requirement for all 
applications for the registration of GIs in Singapore.  
Para 3.179 (Page 80)  
Singapore has increased its anti -piracy efforts and has provided regional leadership on the issue. A 
2012 study ranked Singapore 4th among 18 Asian countries and 12th out of 38 countries globally in 
the number of illegal downloads per person. Singapore subsequently amended the Copyright Act in WT/TPR/M/413/Add.1  
 
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  2014 to allow right holders to petition the High Court to order Internet service providers (ISPs) to 
block online locations that "clearly and flagrantly infringe"  copyright. The first such orders were 
issued in 2016 and have since included "dynamic" injunctions, which require ISPs to also block 
infringing websites' successor URLs and domain names.  
Question:  
9. Is the amendment, which allow right holders to petition th e High Court, effective in 
curbing piracy in Singapore?  
Response 9:  Since its introduction, the judicial site blocking mechanism has been used by rights -
holders to block a significant number of websites that have been deemed to be flagrantly infringing 
online locations. The Ministry of Law has received positive feedback from industry stakeholders on 
the effectiveness of the judicial site blocking mechanism in tackling online piracy in Singapore.  
IV. TRADE POLICIES BY SECTOR  
Para 4.29 (Page 87)  
During the re view period, Singapore liberalized the retail electricity market with the so -called Open 
Electricity Market, which was implemented in phases beginning in April 2018 and completed in 
May 2019. This liberalization has given all 1.4 million households and sma ll businesses a chance to 
select their electricity retailer. So far, 14 retailers (including 2 that partnered with telecom providers) 
have been authorized by EMA to retail electricity to households and small businesses with an average 
monthly electricity c onsumption of less than 2,000 kWh. As at June 2020, 47% of residential 
consumers had switched from regulated electricity tariff to buying electricity from a retailer. 
Consumers who switched have benefited from savings of up to 30%, compared with the regula ted 
electricity tariff.  
Question:  
10. As of June 2020, 47% of residential consumers had switched from regulated 
electricity tariff to buying electricity from a retailer. What is the effect of this strategy to 
the economy? What are the promotional initiatives/o ffers that encouraged consumers to 
switch and achieve almost 30% of savings? Further, what approach did Singapore take to 
encourage electricity retailers to participate in the initiative and in doing so, did 
government provide any form of support to these retailers?  
Response 10 : Singapore does not provide any form of support for retailers, who make their own 
commercial decision on whether to participate in the Open Electricity Market.  
One reason why electricity retailers were able to offer a discounted rate  off the regulated tariffs is 
due to oversupply of electricity and gas which has depressed electricity prices in the spot electricity 
market. Retailers can also vary their prices and business strategies (e.g. impose contract lock -in 
periods, early terminat ion charges, cut down on overhead costs by shifting operations online) to 
adapt to current market conditions, and can also select their target consumer groups, like businesses 
or families.  
With a fully liberalised electricity market, the retailers compete with one another and this has 
resulted in variations of promotions and incentives available in the market. Consumers benefit from 
more competitive pricing options, and a wider range of services.  
Para 4.42 (Page 89)  
In the manufacturing cluster, five ITMs h ave been developed. The energy and chemicals sector ITM 
was launched in October 2017 and aims to achieve a value added of SGD 12.7 billion and create 
1,400 new jobs by 2025. The strategy is two pronged. First, it aims to transform the existing base 
of refi neries and crackers through the adoption of innovation technologies. Second, it plans to 
diversify into new growth markets, such as specialty chemicals for both: (i) end -markets in consumer 
care, agricultural chemicals, and animal nutrition and health; and  (ii) functional segments in 
polymers, surfactants, and industrial biotechnology and synthetic biology.  WT/TPR/M/413/Add.1  
 
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  Question:  
11. How did Singapore select the industries for development of Industry Transformation 
Maps (ITMs) under the Manufacturing Cluster? Are these same  industries also considered 
as priority industries for investment promotion?  
Response 11:  These industries are key contributors to Singapore's GDP, and areas where there is 
potential for significant transformation and growth.  
Para 4.50 (Page 91)  
Singapore also has a significant food manufacturing sector, which exports a large part of its 
production, mainly to Oceania and Southeast Asia. This sector grew from SGD 3.8 billion in 2016 to 
SGD 3.9 billion in 2018 and contributes to around 1.3% of GDP. It launche d its ITM 
in November  2016, with the goal of positioning Singapore as a food and nutrition hub in Asia. Its 
targets were to drive exports, scale innovation, and create good jobs. Initiatives supported include 
encouraging R&D and product development via pla tforms such as FoodInnovate; increasing channel 
partnerships; enhancing capabilities in automation; shelf life extension, branding, and packaging; 
using productivity diagnostics and "walk -through" programmes; and reskilling the workforce.  
Question:  
12. Since t he launching of the Industry Transformation Map (ITM) in the food 
manufacturing sector in November 2016, can Singapore discuss the impact of enhancing 
capabilities in automation within the sector on job/employment generation? At what 
stage has Singapore im plemented its ITM in food manufacturing and what are the key 
accomplishments/milestones? Are there opportunities for information exchange and 
sharing of best practices with the Philippines as to the successes in the implementation 
of the ITM in food manufa cturing?  
Response 12:  Since the launch of the Food Manufacturing ITM, Enterprise Singapore (ESG) has led 
efforts on the adoption of automation and digital solutions for food manufacturing. COVID -19 
challenged our companies to remain competitive and resilie nt with uncertainty in markets and supply 
chains. Companies have been propelled to embrace digitalisation, streamline operations, and find 
new revenue channels to remain competitive. Food manufacturers that had adopted automation or 
digital solutions were better positioned to realise gains in the form of greater flexibility, visibility and 
efficiency across operations. We welcome information exchange and sharing of best practices with 
the Philippines through Philippines -Singapore Action Plan (PSAP).  
Para 4. 52 (Pages 91 -92) 
The share of financial and insurance services in gross value added grew from 12.5% to 14.1% 
between 2015 and 2019, a phenomenon common to both insurance services (from 2.1% to 2.3%) 
and to banking and other financial services (from 10.4% t o 11.7%). This ratio rose to 15.7% in 
2020 (of which insurance: 2.8%), as financial and insurance services were less impacted by the 
COVID -19 pandemic compared with other sectors in the economy. Banking and other financial 
services continued to expand in 2 020, albeit at a slower pace, as growth of non -bank loans to the 
region eased and domestic non -bank lending contracted. Meanwhile, growth in insurance services 
picked up in 2020, buoyed by strong demand for single premium life insurance products during the  
pandemic. The share of financial and insurance services in the overall economy could normalize 
in 2021, as the sectors severely hit by the pandemic are expected to gradually recover. The 
contribution of financial services to GDP is one of the highest in t he world, highlighting the 
importance of the sector for Singapore's economy and the role of Singapore as a regional, and even 
global, financial services hub.  
Question:  
13. What were the measures implemented to cushion the COVID -19 pandemic's impact 
on the financial services sector? How did fintech play a role in this and which particular 
sub-sectors (i.e. banking, insurance, and capital markets) benefitted the most?  WT/TPR/M/413/Add.1  
 
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  Response 13 : At the peak of the crisis in March 2020, MAS ensured that there was ample USD a nd 
SGD liquidity in Singapore's banking system. As USD funding markets came under stress, MAS 
immediately increased the amount of USD liquidity provided through our money market operations. 
Up to US$1 billion of additional USD funding a day was injected, a  25% increase from pre -crisis 
levels. On 26 March 2020, MAS launched the MAS USD Facility on the back of the Federal Reserve's 
US$60 billion temporary swap line. The facility has provided a total of US$25 billion of USD funding 
to banks in Singapore since its inception. In the SGD funding markets, market functionality remained 
intact during the Covid -19 crisis as financial institutions had healthy buffers going into the crisis. 
Nevertheless, MAS left a significantly higher amount of SGD liquidity in the ban king system to ensure 
the smooth functioning of the SGD funding markets.  
Measures implemented by the MAS were primarily aimed at ensuring that financial institutions (FIs) 
were able to provide support and extend credit to their customers who were impacted by the 
COVID -19 crisis, particularly individuals and small and medium enterprises.  
The measures included the MAS SGD Facility for ESG Loans, a funding -for-lending scheme. This 
aimed to support financial institutions (FIs) in providing loans to small and me dium enterprises 
(SMEs), in tandem with the Government's loan guarantee schemes. Under the loan guarantee 
schemes, the Government shared up to 90% of the risk on loans extended by FIs to SMEs, thereby 
reducing the risk premium charged by FIs. MAS' facility  complemented this by providing low -cost 
SGD funding to FIs for a tenor of two years, at a rate of 0.1% p.a. through the facility. Together, 
these measures translated to lower cost of funding for SMEs, including in the longer tenors. As at 
31 March 2021, t he facility lent S$11 billion to FIs, catalysing around S$17 billion of loans, and 
benefitting more than 22,000 companies.  
In March 2020, MAS collaborated with the financial services sector to roll out a package of measures 
for individuals and SMEs. Indiv iduals were able to apply to their banks and insurers to defer 
repayments for mortgages, motor vehicle and student loans among others, as well as life and health 
insurance premiums. They also had the option to convert their outstanding credit card balances  to 
lower -interest term loans. Meanwhile, corporates were similarly able to seek moratoriums on the 
repayment of their secured loans and to pay their general insurance policies in instalments. The 
package eased cashflow pressures on individuals and busines ses, and helped MAS and FIs to gain 
better visibility of the Covid -19 situation before developing more targeted support measures.  
MAS also adjusted several regulatory requirements and supervisory programmes. For instance, 
banks were allowed to recognise mo re of their regulatory loss allowance reserves as capital and take 
into account the government's fiscal assistance and other relief measures in setting accounting loan 
loss allowances. The implementation of the final set of Basel III reforms and other non -urgent 
industry projects were also deferred so as to reduce operational demands on banks and other FIs, 
allowing them to divert their resources to meet urgent needs of their customers.  
While the Government did not introduce any targeted fiscal support for the financial sector, FIs were 
able to benefit from economy -wide support measures in place, particularly the Jobs Support Scheme 
(a wage subsidy). In total, the financial services sector received S$1.8 billion of grants in 2020, or 
S$2.8 per dollar of valu e-added.  
Singapore's FinTech ecosystem has continued to grow despite the challenges faced due to the 
COVID -19 pandemic. The number of FinTech firms in Singapore has grown rapidly from 50 FinTech 
firms in 2015 to more than 1,400 in 2020, and we have anchor ed more than 40 innovation labs, 
across major banks and insurers, in Singapore. In terms of private investment made in FinTechs, 
the Singapore FinTech sector attracted equity funding and M&A amounting to S$1.4 billion in 2020, 
which is 34% higher than in 2 019. This has continued into Q1 2021 with FinTech companies raising 
about S$656 million, which is 355% higher from the same period a year before. This is a strong 
testament to the vibrancy of the FinTech ecosystem in Singapore.  
Para 4.60 (Page 94)  
The Bank ing Act and its subsidiary legislation constitute the main legal framework governing the 
licensing and operation of commercial banks in Singapore. Commercial banks may undertake 
universal banking, which, besides deposit taking, cheque services, and lending , includes any other 
business regulated or authorized by MAS, including financial advisory services, insurance broking, WT/TPR/M/413/Add.1  
 
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  and capital market services. Banks providing investment banking and financial advisory services 
must comply with the relevant provisions  of the Securities and Futures Act and the Financial Advisers 
Act. 
Question:  
14. In terms of commercial banking activities, is there a provision under Singapore's 
domestic laws and regulations that limits the number of non -Singaporean resident 
incorporators fo r entry through investing in a new banking subsidiary? What are these 
provisions?  
Response 14 : Since 1999, MAS has lifted foreign shareholding limits on the domestic banks in 
Singapore. However, pursuant to sections 15A to 15C of the Banking Act, prior app roval from the 
Minister -in-charge of MAS is required before any individual shareholder or group of associated 
shareholders can increase shareholding in a bank incorporated in Singapore at the thresholds of 5%, 
12%, and 20%. This applies to both resident an d non -resident shareholders  
Para 4.75 (Pages 97 -98) 
There were no changes to the licensing regime during the review period. An entity can still hold both 
life and non -life insurance licences. There is no differential treatment for foreigners in the licensi ng 
process and no limitation on the number of providers. MAS is the licensing authority. The maximum 
processing time for applications of the licences is six to eight weeks. There is no limitation on the 
period of validity for a licence except for insurance  representative offices.16 The Insurance Act does 
not provide for transfer of insurance licences. All companies seeking to conduct insurance business 
in Singapore must apply for and obtain an insurance licence. Singapore continues to recognize home 
regulat or's supervision of the foreign insurance group operating in Singapore.  
Question:  
15. For the entry of foreign insurance and reinsurance firms, what are the specific 
prudential requirements (i.e. qualifying capital in respect of insurance liabilities and risks ; 
risk identification and management; and reporting and disclosure) needed to open a 
branch in Singapore?  
Response 15:  
1. Qualifying Capital in respect of Insurance Liabilities and Risks  
The Insurance (Valuation and Capital) Regulations 2004 and MAS Notice  133 (Valuation and Capital 
Framework for Insurers) set out the requirements under the risk -based capital framework for all 
licensed insurers (including reinsurers), including the way in which assets and liabilities are to be 
valued.  
If the proposed insur er wishes to carry on direct insurance business in Singapore, the paid -up capital 
of the Head Office must be at least SGD 10 million (unless the proposed insurer is only intending to 
write investment -linked policies, or short -term accident and health polic ies only, in which case the 
paid-up capital is SGD 5 million). If the proposed insurer wishes to carry on only reinsurance business 
in Singapore, the paid -up capital of the Head Office must be at least SGD 25 million.  
Under Section 17 of the Insurance Act , every licensed insurer shall establish and maintain separate 
insurance funds relating to Singapore policies and offshore policies. In addition, for direct life 
insurance business, the licensed insurer shall also establish separate insurance funds for inv estment -
linked policies, participating policies, and non -participating policies.  
The fund solvency requirement in respect of an insurance fund is that the total assets of the fund 
must not at any time be less than the total liabilities of the fund. The fu nd solvency requirement of 
an adjusted fund is that the financial resources of each adjusted fund must be, at all times, not less 
than the total risk requirement of the adjusted fund.  WT/TPR/M/413/Add.1  
 
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  The capital adequacy requirement of a licensed insurer is that the fina ncial resources of the insurer 
must be, at all times, not less than the higher of:  
(a) the total risk requirement of the licensed insurer; and  
(b) SGD 5 million.  
In addition to the fund solvency requirements and capital adequacy requirement stated above, the 
licensed insurer must also satisfy that its Common Equity Tier 1 ("CET1") capital and Tier 1 capital 
are able to meet the total risk requirement of the insurer.  
Consistent with international standards, MAS has set out two solvency intervention l evels, the higher 
of which MAS would not intervene on solvency grounds unless not met by the insurer, and the lower 
of which MAS may take its strongest actions such as stopping new business or revoking licence if 
not met.  
It is to be noted that the offsho re insurance fund of a foreign reinsurance branches is not subject to 
Risk-Based Capital 2 ("RBC 2"). As for a foreign -headquartered subsidiary, the offshore insurance 
fund is subject to a simplified non risk -based solvency margin. Only locally -headquarter ed subsidiary 
are subject to RBC 2 for its offshore insurance fund.  
2. Risk Identification and Management  
MAS Notice 126 (Enterprise Risk Management ("ERM") for Insurers) sets out the ERM requirements 
and guidelines on how insurers are to identify and mana ge interdependencies between key risks, 
and how these are translated into management actions related to strategic and capital planning 
matters.  
Insurers are required to establish an ERM framework which:  
(a) provides for the identification and quantificatio n of risks using techniques appropriate to the 
nature, scale and complexity of the risks the insurer bears;  
(b) addresses risk, solvency and capital management; and  
(c) identifies and addresses all reasonably foreseeable and relevant material risks to whi ch the 
insurer is, or is likely to become, exposed.  
Insurers are also required to have a risk management policy which outlines how all relevant and 
material categories of risk are managed, both in the insurer's business strategy and its day -to-day 
operatio ns. 
3. Reporting and Disclosure  
Licensed insurers are required to report to MAS on their financial position, financial performance, 
risk exposures, reinsurance arrangements and other related information under the following MAS 
notices:  
• MAS Notice 114 (Re insurance Management)  
• MAS Notice 122 (Asset & Liability Exposures for Insurers)  
• MAS Notice 129 (Insurance Returns (Accounts and Statements))  
In addition, licensed insurers are required under MAS Notice 124 (Public Disclosure Requirements) 
to publicly  disclose relevant, comprehensive and adequate information in order to give a clear view 
of their business activities, performance and financial position. These disclosures include quantitative 
and qualitative information on the insurer's profile, governan ce and controls, financial position, 
technical performance and risks to which the insurer is subject.  WT/TPR/M/413/Add.1  
 
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  16. Is there an acquisition requirement of the voting stock of an existing domestic 
insurance company? Is there a limitation in the participation of a non -Singaporean 
resident in the Board of Directors of a locally incorporated insurance company? What are 
these?  
Response 16 : Sections 28 and 29 of the Insurance Act (Cap. 142) states that MAS' prior approval 
is required before a person can obtain effective contro l or become a substantial shareholder of a 
licensed insurer incorporated in Singapore.  
MAS may approve an applicant to obtain control or be a substantial shareholder of a licensed insurer 
if MAS is satisfied that the applicant is fit and proper and the li censed insurer will continue to conduct 
its business prudently and comply with the Insurance Act.  
The Insurance (Corporate Governance) Regulations 2013 (Regulations) set out the corporate 
governance requirements for locally -incorporated insurers. The Regu lations do not impose 
nationality or residency requirements for the board of directors.  
Para 4.93 (Page 100)  
Asset managers that conduct business in the regulated activity of fund management under the 
Securities and Futures Act are required to hold a CMS licence, unless an exemption applies, such as 
where the asset manager manages only moneys belonging to its related corporations, or if it 
manages only proprietary moneys. The admission criteria for a CMS licence for fund management 
include a minimum re quirement ranging from SGD 250,000 for companies serving only accredited 
and institutional investors to SGD 1 million for companies serving retail investors and residency 
requirements for one director and two full -time relevant professionals or representat ives. 
Question:  
17. Are there rulings that restrict foreign nationals to obtain a professional license to 
conduct business under Mode 3? What are these? Does a license to operate include other 
services under asset management, such as portfolio management, coll ective investment 
management, as well as custodial, depository, and trust services? If so, what are the 
minimum capital and prudential capital ratios applicable as prescribed under prevailing 
regulations?  
Response 17 : The activities of portfolio management , and the management of collective investment 
schemes are regulated under the Securities and Futures Act (SFA) as fund management. Persons 
that seek to conduct fund management in Singapore are required to obtain a Capital Markets 
Service  (CMS) licence. The  CMS licence for fund management does not permit the licence holder to 
carry out custodial, depository and trust services. Persons seeking to provide custodial and trust 
services are required to be separately licensed and regulated for these other activiti es, which are 
also regulated by MAS.  
The admission criteria for a CMS licence does not include any nationality -based requirements, and 
there are no restrictions on foreign nationals seeking to obtain a CMS licence, so long as they satisfy 
the admission criteria which include the applicant bei ng a fit and proper person with no prior adverse 
records, and demonstrating the ability to conduct substantive activities in Singapore. On an on -
going basis, CMS licence holders are required to comply with minimum capital and financial 
requirements. For fu nd management companies, they are required to meet base capital threshold 
which ranges from S$250,000 and S$1 million, depending on the types of investors.  
Para 4.98 (Page 101)  
Singapore plans to foster innovation in fintech and e -payments, and MAS will co ntinue to enhance 
its regulatory approach to support enterprise and innovation while maintaining financial  
soundness. Singapore's fintech sector has grown exponentially, from 50 fintech firms in 2015 to  
more than 1,000 in 2020. It also has 40 innovation la bs across major banks and insurers. In 2019, 
fintech firms attracted SGD 1 billion of investment. For the first half of 2020, despite the COVID -19 WT/TPR/M/413/Add.1  
 
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  pandemic, the fintech sector continued to attract equity funding and mergers and acquisitions 
amounting to SG D 650 million. According to the authorities, the sector has also been a powerful 
creator of jobs, with an estimated 10,000 people employed by fintech firms.  
Questions:  
18. In terms of expanding fintech adoption, what safeguard measures has the Singapore 
govern ment set in place to preserve data collection and processing, privacy preferences, 
and intellectual property data to meet regulatory requirements?  
Response 18 : Singapore enacted its Personal Data Protection Act in 2012, which acts as a baseline 
law that se ts out the rules and standards of protection on the collection, use, and disclosure of 
personal data. It recognises the right of consumers to protect their data, and the need of 
organisations to collect personal data. All organisations in Singapore, includ ing companies adopting 
or offering FinTech solutions, will need to abide by the Personal Data Protection Act when collecting, 
using, or disclosing personal data.  
19. In terms of speculative assets such as cryptocurrencies, what has Singapore been 
doing to regu late blockchain technology? Furthermore, are there any measures in place 
for initial coin offerings (ICOs) as well as smart contracts such as licensing requirements, 
IT compliance checks, and regulations about KYC?  
Response 19:  Offers or issues of digital tokens (including ICOs) may be regulated by MAS if the 
digital tokens are capital markets products under the Securities and Futures Act (SFA). A person 
may only make an offer of digital tokens which constitute securities, securities -based derivatives 
contracts or units in a collective investment scheme if the offer complies with the requirements in 
the SFA (e.g. requirement to register a prospectus with MAS), unless an exemption applies. 
Intermediaries that conduct regulated activities in respect of such to kens would also be subject to 
licensing requirements under the SFA and Financial Advisers Act and the applicable AML/CFT 
requirements (under MAS Notice SFA04 -N02 and FAA -N06, respectively). These requirements 
include the need to conduct risk assessments, p erform customer due diligence measures and monitor 
and report suspicious transaction, as well as, putting in place internal policies, compliance, audit, 
and training. Further information can be found in our Guide to Digital Token Offerings.  
Para 4.128 (Pag e 106)  
The development of the sector is directed by Infocomm Media 2025, a 10 -year master plan adopted 
in 2015. It is an integrated development plan for the telecommunication and media sector to foster 
the digital economy. In this context, the Government i ssued in June 2018 a digital government 
blueprint, which aims to make all government services available online by 2023. IMDA launched a 
digital signature system for business and legal documents in November 2020. In October 2020, 
supported by IMDA and Enter prise Singapore, CapitaLand opened the Smart Urban Co -Innovation 
Lab to bring together players in the smart cities space to co -create and test innovations with locally 
built technology enterprises in a live environment at CapitalLand's 5G -enabled facility.  
Questions:  
20. In the Philippines, telecommunications is considered a public utility. Thus, telecom 
carriers are subject to the 60 -40 rule, wherein foreign ownership is limited to only 40 
percent. Meanwhile, the case of Singapore is different, in that all tel ecom services are 
offered openly on the market.  
a. Based on the experience of Singapore, how did the liberalization of the 
telecommunications market affect the overall service quality and competitiveness in the 
sector? In addition, what measures is being u ndertaken by government to ensure a level 
playing field in the sector and prevent the possibility of predatory pricing?  
b. In view of the development of its telecommunications sector, how does Singapore 
address national security, noting the infrastructure  required to support a wide range of 
digital transactions and services?  WT/TPR/M/413/Add.1  
 
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  Response 20:  Singapore fully liberalised the telecommunications market on 1 Apr il 2000, and 
removed numerical limits on licences to be issued (unless there are resource constraints, li ke radio -
frequency) and limits on foreign ownership. The opening up of the market has resulted in more 
investments and a competitive and vibrant telecommunications market, with consumers and 
businesses benefitting from more choices of service providers, in novative and good quality services, 
at competitive prices, and high adoption of mobile and broadband services.  
IMDA introduced the Code of Practice for Competition in the Provision of Telecommunication Services 
in 2000 to provide a level playing field and ensure fair market conduct amongst the licensees. The 
Code imposes ex -ante regulation (such as tariff filing) on the dominant licensee Singtel, facilitates 
interconnection agreements between new licensees and Singtel, and allows IMDA to take 
enforcement ac tion against any anti -competitive behaviour, including predatory pricing.  
Singapore passed the Cybersecurity Act (the Act) in 2018, which establishes a legal framework for 
the oversight and maintenance of national cybersecurity, including the proactive pro tection of Critical 
Information Infrastructure (CII), such as info -communications, against cyber -attacks. CII owners 
are required to implement mandatory cybersecurity measures, report cybersecurity incidents, 
conduct regular risk assessments and audits, an d participate in cybersecurity exercises to ensure 
that they are ready to respond swiftly and effectively in the event of a cyber incident. The Act also 
authorises the Cyber Security Agency of Singapore (CSA) to investigate and respond to cybersecurity 
threats and incidents.  
PART II: QUESTIONS REGARDING THE GOVERNMENT REPORT  
III. ECONOMIC OUTLOOK AND NAVIGATING RECOVERY  
Para 3.11 (Page 10)  
As a small island city -state, Singapore has limited natural resources to generate alternative energy. 
Nonetheless, we w ill meet our commitments under the Paris Agreement and aspire to achieve net -
zero emissions as soon as viable in the second half of the century. To achieve this, we are investing 
in low -carbon technologies, tapping on renewable energy at home and from the region and 
electrifying our vehicles. We are also developing Singapore into a carbon trading and services hub 
for the region, and reviewing our carbon tax to encourage companies to become more carbon 
efficient.  
Question:  
21. In what specific ways does the regi onal power grid help Singapore reduce its carbon 
emissions and achieve its commitments under the Paris Agreement?  
Response 21:  On 31 March 2020, Singapore submitted its enhanced Nationally Determined 
Contribution (NDC) and Long -Term Low -Emissions Developme nt Strategy (LEDS) documents to the 
United Nations Framework Convention on Climate Change (UNFCCC). Under the enhanced NDC, we 
aim to peak emissions at 65 metric tons of carbon dioxide equivalent (MtCO2e) around 2030. 
Singapore's LEDS, which builds on the enhanced NDC, aspires to halve emissions from its peak to 
33 MtCO2e by 2050 and to achieve net -zero emissions as soon as viable in the second half of the 
century.  
Singapore is an alternative energy disadvantaged country. We lack the land area and climatic 
conditions necessary for large -scale deployment of renewable energy sources such as hydropower, 
tidal and wind based on current technologies. Solar is our most pro mising renewable energy option, 
and even then there are limits to solar deployment due to our land constraints. The development of 
regional power grids can provide greater resilience and stability for the entire system across the 
region, and also allow cou ntries with an abundance of hydropower and other renewable energy to 
export electricity to other countries. Singapore is keen to work with various countries in the region 
to develop a regional grid to facilitate this.  
As a start, the Energy Market Authorit y of Singapore (EMA) is working towards a two -year trial to 
import up to 100 megawatts (MW) of electricity from Malaysia. The trial aims to test the technical WT/TPR/M/413/Add.1  
 
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  and regulatory frameworks for electricity imports, paving the way for larger -scale imports from t he 
region in the future.  
At the same time, we are working closely with Lao PDR, Thailand and Malaysia to achieve multilateral 
electricity trading through the Lao PDR -Thailand -Malaysia -Singapore Power Integration Project 
(LTMS -PIP). This will help to promo te greater infrastructural connectivity, resilience and stability for 
the entire system in the ASEAN region and contribute to ASEAN's sustainable energy goals.  
IV. OPEN, FACILITATIVE AND INCLUSIVE TRADE INFRASTRUCTURE  
Para 4.4 (Page 11)  
Launched in April 2 017, the SMEs Go Digital programme by the Infocomm Media Development 
Authority (IMDA) made going digital simpler for SMEs, with more than 63,000 adopting digital 
solutions from the programme as of March 2021. As part of the programme, sector -specific Indus try 
Digital Plans, which are aligned with their respective ITMs, have provided SMEs with a step -by-step 
guide on digital solutions and relevant employee training at different stages of their growth. 
In  June 2020, the programme was expanded to include Grow  Digital, which helps businesses 
participate in Business -to-Business (B2B) and Business -to-Consumer (B2C) e -commerce platforms 
to sell overseas without a need for in -market physical presence.  
Question:  
22. We would appreciate if Singapore would share how it en courages MSMEs to go 
digital. Does the government provide incentives to these digitalized MSMEs? If yes, what 
are these incentives?  
Response 22:  The Singapore government provides various forms of targeted support to SMEs to 
thrive in an increasingly digita lised economy. For example, we support and encourage the digital 
transformation of businesses with a range of initiatives that reduce the complexity of evolving 
technologies, through the SMEs Go Digital Programme.  
For more information on the SMEs Go Digit al programme, please visit 
www.imda.gov.sg/SMEsGoDigital . 
23. Does the Singapore have a matrix measuring how digitalized an MSME is? If yes, 
would Singapore share this matrix?  
Response 23 : To embark on their  digitalisation journeys, SMEs can make use of an online self -
assessment checklist to help them better understand their digital maturity and readiness, as well as 
identify gaps in their digital capabilities. The checklist takes into consideration factors s uch as the 
SME's current business operations, level of digitalisation and business expansion plans.  
These checklists are accessible at https://smedigitalisationstudy.experian.c om.sg/self -assessment . 
To further help companies understand where they are in their digital transformation journey and 
provide actionable insights, IMDA partnered the Boston Consulting Group to develop the IMDA Digital 
Acceleration Index (DAI) Service.  
The DAI Service, an online portal, enables companies to self -assess their digital strengths and 
weaknesses across multiple aspects of the business. The digital maturity insights provided by the 
DAI Service help companies benchmark their state of digitalisati on with local and international peers 
to identify opportunities and close gaps by leveraging digital technologies. This can help them 
develop their digitalisation strategies and plans in a more targeted manner.  
 WT/TPR/M/413/Add.1  
 
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  HONG KONG, CHINA  
QUESTIONS REGARDING THE SECRETARIAT REPORT  
Trade Policies and Practices by Measure  
Price controls  
(WT/TPR/S/413: Page 69, para 3.127)  
Generally, Singapore does not regulate or control the prices of goods or services. However, the Price 
Control Act (1990) allows for the exceptional imposition of a maximum price for gazetted goods or 
services to curb profiteering during times of crisis, subject to the approval of the Minister of Trade 
and Industry.  
Question:  
1. Has Singapore ever imposed a maximum price for any goods or services under the 
Price Control Act? If yes, what kinds of goods or services are involved and what are the 
circumstances that led to the imposition of the maximum prices?  
Response 1:  To date, Singapore has not imposed a maximum price for any goods or services under 
the Price Control Act (PCA).  
Intellectual property rights (WT/TPR/S/413: Pages 74 -75, para 3.152)  
In 2013, the Singapore Government launched its 10 -year Intellectual Property Hub Master Plan 
("Master Plan") with the aim of leveragin g Singapore's strong intellectual property (IP) protection 
regime, legal and financial infrastructure, educated workforce, global interconnectedness, and pro -
enterprise culture to attract IP assets and become a hub for: (i) IP transactions and management; 
(ii) quality IP filings; and (iii) IP dispute resolution. A 2017 update to the Master Plan incorporated 
recommendations from the Committee on the Future Economy, namely, to strengthen enterprise 
capabilities to innovate and scale up by building greater cap acity for IP commercialization. Several 
Government initiatives observed during the review period can be traced to this Master Plan.  
Question:  
2. In relation to the 2017 update to the Master Plan, we note from the "Update to the 
Intellectual Property Master Pl an" ("Update to IP Master Plan") that one of the 
recommendations adopted was to "develop expertise in technology forecasting and 
patent analytics" (paras 5.2.2 – 5.2.3 of the Update to IP Master Plan). We also note that 
IPOS has since 2014 published variou s patent landscape reports and patent analytics 
reports on different technology areas. Could Singapore share with Members its experience 
in developing the capabilities in the area of patent analytics over the review period?  
Response 2:  In building its pate nt analytics capability, Singapore tapped on its ready talent pool of 
patent examiners who had deep technical expertise and skills in the search and analysis of patent 
documents. Over the years, IPOS had worked with innovation ecosystem players in Singapor e to 
produce analysis reports at the industry, enterprise and technology domain levels. Through these 
efforts, Singapore hopes to drive awareness and further grow its capability in patent analytics with 
the goal of informing and supporting decision -making around strategic investments and utilisation 
of research & development (R&D) resources.  
(WT/TPR/S/413: Page 75, para 3.156)  
The Intellectual Property Office of Singapore (IPOS) transitioned during the review period from a 
registration and regulatory agency  into an "innovation agency", and broadened its focus to include 
the commercialization of IP. To this end, it has undertaken, often in collaboration with others, a 
number of initiatives, including a new national skills framework to build the local IP talen t pool; IP 
audit and strategy consultancy services; and programmes to improve IP disclosures, IP valuation, 
and access to finance and insurance for IP -rich start -ups and other enterprises.  WT/TPR/M/413/Add.1  
 
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  Question:  
3. Could Singapore share with Members more details about the  initiatives IPOS has 
undertaken to promote IP commercialization during the review period, in particular the 
new national skills framework to build the local IP talent pool mentioned in para 3.156 of 
the Secretariat Report?  
Response 3 : The Skills Framework  for Intellectual Property contains information on industry trends, 
career pathways, occupations, job roles, skills and competencies, and training programmes. It can 
be used by individuals looking to join or progress within the intellectual property (IP) s ector, 
employers who wish to invest in employee training for career development and skills upgrading, and 
training providers to design programmes that meet industry needs. The Skills Framework covers 
career pathways relating to IP Legal, Patent Prosecution , IP Strategy, IP Management, and 
IP Commercialisation. More information can be found at: www.skillsfuture.gov.sg/skills -
framework/intellectual -property . 
Other initiative s include: (i) the National IP Protocol which streamlines and facilitates the transfer of 
intangible assets (IA)/IP from publicly -funded R&D to the private sector, (ii) the Workforce for 
IP-Savvy Enterprises programme which is a structured initiative to he lp enterprises build their 
foundational IA/IP knowledge and access preliminary IA/IP advice, and (iii) the Intangible Disclosure 
Evaluation and Audit Scheme pilot programme which helps companies identify and communicate the 
value of their IA to stakeholder s. 
(WT/TPR/S/413: Page 76, para 3.157)  
IPOS unveiled a new sector - and IP -neutral programme in 2020. Under SG IP Fast Track (SG IP 
FAST), patent applications that are first filed in Singapore can be granted in as few as six months. 
Applicants who have succ essfully requested patent acceleration under SG IP FAST can also request 
accelerated review of related trademark and registered design applications: a straightforward 
trademark application can be registered in as few as three months, and a straightforward industrial 
design application can be registered in just one month. The initiative seeks to give innovators and 
enterprises certainty about the scope of their rights, which can be leveraged into funding and used 
as a springboard into global markets.  
Questio n: 
4. We understand that the SG IP Fast Track is a pilot programme that was launched in 
4 May  2020 and will end on 29 April 2022. Since the introduction of the programme, what 
has been the reception or feedback amongst the IP community? Is the programme like ly 
to be continued, and if so, will any changes/ refinements be made to the programme? 
Could Singapore share with Members relevant statistics on the use of the fast track 
program since its launch?  
Response 4 : The demand for patent acceleration under SG IP FAST is close to hitting the annual 
cap for the first year. As of July 2021, the time taken from file to grant for these requests has been 
5.8 months. This excludes the time taken by applicant to request for certificate of grant after 
receiving a notice of  eligibility from IPOS. Applicants have up to two months to file this request for 
certificate of grant.  
We have yet to receive any Fast Track acceleration requests for related trademark and registered 
design applications.  
We will be reviewing the programme  and possibly consider refining the qualifying requirements for 
related trademark and registered design applications to benefit the enterprises.  
(WT/TPR/S/413: Page 77, para 3.165)  
The Patents Act and related rules were amended during the review period. Su ch amendments 
include, inter alia, a transition towards a system in which all applications are substantively examined 
under local law, as done in the largest patent jurisdictions.  WT/TPR/M/413/Add.1  
 
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  Question:  
5. We understand that one of the means to effect the above -mentioned amendments 
to Singapore's patent law (which came into force on 1 January 2020) was by way of 
closure of the "foreign route" for patent applicants to rely on the search and examination 
results of a corresponding foreign patent application in lieu of local s ubstantive search 
and examination. Has the closure of the "foreign route" had any impact on the system 
e.g. on the number of patent applications, the number of Patent Prosecution Highway 
requests, etc.?  
Response 5:  The closure of the foreign route with eff ect from 1 January 2020 did not negatively 
impact the number of patent applications filed with IPOS. We received 13,265 patent applications 
in 2020, a 23% increase in the number of patent applications over the last 5 years.  
Trade Policies by Sector  
Banking services  
(WT/TPR/S/413: Page 94, para 4.63)  
The Monetary Authority of Singapore (MAS) took several prudential measures during the review 
period to strengthen the banking supervision framework, the most important of which being a 
framework issued in  April 2015 for identifying and supervising Domestic Systemically Important 
Banks (D -SIBs) in Singapore. MAS will apply additional supervisory measures on banks designated 
as D-SIBs, such as incorporation of retail operations for foreign bank branches with  a significant 
retail presence, higher loss absorbency, recovery and resolution planning, and liquidity coverage 
ratio requirements.  
Question:  
6. Please share with us the details of the prudential measures implemented during the 
review period. Are there any d ifferences in the supervisory measures applied on the local 
and foreign D -SIBs?  
Response 6: The D -SIB policy measures are published in MAS' Framework for Impact and Risk 
Assessment of Financial Institutions (page 25 -27), split by measures imposed on a loca lly-
incorporated bank group, foreign bank group, and foreign bank branch.  
Locally -incorporated bank group will be subject to higher loss absorbency, enhanced disclosure, 
recovery and resolution planning, effective risk data aggregation and risk reporting, and liquidity 
coverage ratio (LCR).  
For foreign bank group, the following applies:  
- Locally incorporated foreign bank: Policy measures will apply per locally -incorporated bank 
group as highlighted in the preceding paragraph.  
- Sister branch: Recovery and resolution planning, effective risk data aggregation and risk 
reporting, and LCR apply.  
For foreign bank branch, local incorporation requirement of the retail operations for foreign bank 
branches that have a significant retail presence in Singapore, and po licy measures for branches 
above apply.  
Telecommunication services  
(WT/TPR/S/413: Page 106, paras 4.119 -4.120 and 4.125)  
There were three mobile network operators at the beginning of the review period: (i) the incumbent 
Singtel; (ii) Starhub (both majority  owned via Temasek Holdings and publicly listed for the rest of WT/TPR/M/413/Add.1  
 
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  the shares); and (iii) M1 (majority owned by Keppel Corp.). TPG Telecom, a private operator from 
Australia, won a fourth licence in December 2016.  
Singtel has a market share of over 50%, follo wed by Starhub and M1. TPG Telecom is still operating 
largely on a trial basis (first a one -year free -trial service launched in January 2019, and then a 
mobile plan in March 2020 of 50 GB for SGD 10 without contractual obligations). The share of mobile 
virtual network operators is marginal (less than 1%).  
Singtel is the dominant provider of fixed telephony services, followed by Starhub. Other operators 
include M1 and MyRepublic.  
Question:  
7. With the domination of local network operators in Singapore's telecom  market, we 
are interested to know if there is any plan to increase the participation of other foreign 
network operators in the market, and whether there are any hurdles to such plan.  
Response 7 : Any foreign or domestic company registered with the Accounti ng and Corporate 
Regulatory Authority may apply for a Facilities Based Operations (FBO) or Services Based Operator 
(SBO) licence to offer telecom services in Singapore. There are no numerical limits on the number 
of licences that may be granted.  
(WT/TPR/S/ 413: Pages 107 -108, para 4.135)  
Another significant regulatory development is the ongoing drafting of a Code of Practice for 
Competition in the Provision of Telecommunication and Media Services. The Code is to replace the 
existing competition codes for the  telecommunication and media sectors (respectively, the Code of 
Practice for Competition in the Provision of Telecommunication Services (2012) and the Code of 
Practice for Market Conduct in the Provision of Media Services). The Code aims to promote fair an d 
efficient competition,  safeguard consumer protection, improve regulatory clarity by harmonizing the 
Infocomm Media Development Authority (IMDA)'s regulatory requirements, and keep pace with 
technological advancements and market developments. IMDA held tw o public consultations to that 
effect, in February 2019 and January 2021. Notable changes to the Code include adopting a common 
regulatory approach for dominance classification and a threshold to be used for the initial assessment 
of Significant Market Pow er in both telecommunication and media markets, prohibiting 
telecommunication licensees from making disadvantageous or detrimental changes during the 
contract term, and requiring all licensees to provide a list of minimum billing information, to better 
protect consumer interests.  
Question:  
8. We are interested to know the current progress of the drafting of the Code, as well 
as the major comments and advice from the industry and the public after conducting the 
two public consultations.  
Response 8 : IMDA held tw o public consultations for the ongoing drafting of a "Code of Practice for 
Competition in the Provision of Telecommunication and Media Services", in February 2019 and 
January  2021, respectively. Notable proposed changes to the Code include adopting a commo n 
regulatory approach for dominance classification and a threshold to be used for the initial assessment 
of Significant Market Power in both telecommunication and media markets, prohibiting 
telecommunication licensees from making disadvantageous or detrime ntal changes during the 
contract term, and requiring all licensees to provide a list of minimum billing information, to better 
protect consumer interests.  
All the comments received from the two public consultations can be found in the website below:  
https://www.imda.gov.sg/regulations -and-licensing/Regulations/consultations/Consultation -
Papers/2019/ consultation -for-converged -competition -code. 
Maritime transport  WT/TPR/M/413/Add.1  
 
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  (WT/TPR/S/413: Page 117, paras 4.182 -4.183)  
On 26 August 2020, the block exemption for liner shipping agreements under the Competition Act 
was further extended in its current form for one year until 31 December 2021 due to the highly 
uncertain times brought about by the COVID -19 pandemic. The Compet ition and Consumer 
Commission of Singapore (CCCS), which administers the block exemption, plans to assess it and 
make a recommendation prior to the expiry of the Block Exemption Order on 31 December 2021.  
Question:  
9. What is the current progress of the as sessment on the block exemption? What are 
the key factors and considerations that have been/would be taken into account in the 
assessment?  If the assessment has been completed, we are interested to know the 
recommendations by the CCCS . 
Response 9 : From 14 July 2021 to 4 August 2021, CCCS conducted a public consultation on its 
proposed recommendation to extend the Competition (Block Exemption for Liner Shipping 
Agreements) Order (BEO) for three years from 1 January 2022 to 31 December 2024, in respect of:  
(i) Vessel sharing agreements for liner shipping services; and  
(ii) Price discussion agreements for feeder services.  
CCCS's proposed recommendation is based on its assessment that such agreements will generate 
net economic benefit for Singapore. Vessel shari ng agreements among liners improve Singapore's 
port connectivity and thus contribute to Singapore's status as a major transhipment hub with 
consequent broader benefits to the economy. Vessel sharing agreements also enhance competition 
among liners, by enab ling smaller liners to provide services that compete with larger liners or with 
another alliance of liners. Feeders may discuss the recommended surcharges (e.g. fuel surcharge) 
charged to their main line customers to improve their position in commercial ne gotiations with main 
line customers. Feeders attract and anchor main lines to Singapore and thus expand Singapore's 
shipping network to support its transhipment hub. Further, anti -competitive effects arising from the 
use of such price discussion agreements  by feeders appear to be limited. Main lines are generally 
not concerned with such discussions as surcharges imposed by feeders are still subject to negotiation 
with main lines who are likely to possess bargaining power.  
For further information on CCCS's p roposed recommendation and assessment, please refer to 
CCCS's media release on the public consultation which can be found at the following hyperlink: 
https://www.cccs.gov.sg/media -and-consultation/newsroom/media -releases/cccs -consults -on-
proposed -recommendation -for--block-exemption -order -for-liner-shipping -agreem ents-14-july-
2021  
CCCS is reviewing the feedback from the public consultation and will make a recommendation to the 
Minister for Trade and Industry in due course.  
 WT/TPR/M/413/Add.1  
 
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  COSTA RICA  
Report of the Secretariat  
Page 10, paragraph 20  
20. Some change s were made to the competition legislation and guidelines, mainly to strengthen 
the competition authority's enforcement powers and to enhance the transparency and clarity of the 
regime. In addition, in 2018, additional responsibility for administering cons umer protection 
legislation was assigned to the authority, which was renamed the Competition and Consumer 
Commission of Singapore (CCCS). During the period under review, the CCCS indulged in its 
enforcement activities, and issued several decisions on infri ngements related to anti -competitive 
practices in sectors such as manufacturing, transportation and food distribution.  
Page 73, paragraph 3.112  
3.112 In 2005, the Competition Commission of Singapore (CCS) was established to oversee the 
administration and e nforcement of the Competition Act. In 2018, it was given the additional 
responsibility of administering the Consumer Protection (Fair Trading) Act and renamed the 
Competition and Consumer Commission of Singapore (CCCS). The CCCS is funded by a grant for th e 
conduct of its business provided by the Ministry of Trade and Industry.  
Questions:  
1. Why was the decision made to give the competition authority responsibility for 
administering consumer protection legislation?   
Response 1 : Competition and consumer protect ion share a close and complementary 
relationship.  Measures to enhance competition in markets can bring about benefits for consumers in 
the form of more choices, lower prices or improved quality, whilst enforcement against errant 
retailers for unfair trade practices will ensure that the playing field is level for law -abiding 
suppliers.  Recognising this relationship, the government included the responsibility to administer the 
consumer protection legislation to CCCS in 2018 to harness the synergies of enforci ng both the 
Competition Act and the Consumer Protection (Fair Trading) Act (CPFTA).  
2. Did you make any changes to the structure of the authority as a result of this 
decision?  
Response 2:  The Consumer Protection Division was formed to take the lead in the administration 
of the CPFTA and to provide CCCS with the necessary enforcement and intelligence capability.  
3. How does the authority prioritize both issues to ensure that they are properly  
addressed?  
Response 3 : In terms of manpower, there are separate teams looking at the matters which ensure 
that both competition and consumer protection matters are looked into. CCCS's view is that 
competition and consumer protection share a close and comp lementary relationship. The 
enforcement of the Competition Act and Consumer Protection (Fair Trading) Act ultimately brings 
about , in different ways, a vibrant economy with well -functioning and innovative markets, resulting 
in benefits for consumers. In t erms of outcomes, CCCS also measures the impact of its interventions 
(cost-benefit ratio) for both competition and consumer protection. CCCS also utilises a prioritisation 
framework to prioritise its cases.  
4. Being funded by a grant from the Ministry of Trade and Industry, how do you ensure 
the political independence of the competition authority's decisions? Are there legal 
barriers that protect the authority from political interference from the 
Government/Ministry of Trade and Industry?  
Response 4:  CCCS was established as an independent statutory body with the ability to both 
investigate and adjudicate possible infringements of the Competition Act and has the powers to 
administer the Consumer Protection (Fair Trading) Act.  WT/TPR/M/413/Add.1  
 
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  The Competition Act and its subs idiary legislation are fully administered and enforced by CCCS. Case 
decisions in CCCS are made by its Commission, which is an independent non -executive decision -
making body. The Commission comprises members from the public and private sectors and bring 
with them expertise in legal, economic and financial domains.  Appeals of CCCS's decisions can be 
filed with the Competition Appeal Board, which is chaired by a person who is qualified to be a 
Supreme Court Judge.  
Page 11, paragraph 30  
30. Singapore is also a  regional and global shipping hub. It has one of the highest concentrations of 
international shipping groups and offers a wide range of maritime services (e.g., ship broking, ship 
management, insurance and legal services). Almost all traffic indicators inc reased between 2015 
and 2019, but recorded a slight decrease in 2020 due to the COVID -19 pandemic. The port of 
Singapore remained open for operations throughout the pandemic. During the period under review, 
both Singapore -owned and Singapore -flagged fleets  grew. During this period, several foreign 
shipping companies entered into joint venture agreements with the Port of Singapore Authority, 
while the regulatory regime in the maritime sector remained largely unchanged with respect to 
market access and compet ition issues.  
Questions:  
5. How do the joint venture agreements work from a competition standpoint, and did 
they have any scrutiny by the competition authority?  
Response 5 : A joint venture falls within the definition of a merger under Section 54 of the 
Compet ition Act if it is subject to joint control, it performs all the functions of an autonomous entity, 
and it does so on a lasting basis. CCCS has investigative powers that can be exercised in event that 
a merger which may substantially lessen competition com es to CCCS's attention.  In addition,  CCCS 
can impose financial penalties on the merging entities if the merger is found to have substantially 
lessen competition, and CCCS may also impose directions to mitigate or eliminate the adverse effects 
arising from the merger.  
Page 41, paragraph 2.48  
2.48. More specifically, investment in the local free -to-air and cable broadcasting sectors is partially 
restricted for foreign companies, as Section 44 of the Broadcasting Act limits foreign equity 
ownership in companie s broadcasting in Singapore to a maximum of 49%, although the Act provides 
for exceptions. Individuals may not own shares representing more than 5% of the total voting power 
in a broadcasting company without prior approval from the Government.  
Question:  
6. Could Singapore please provide further information on what exceptions its 
legislation provides for foreign equity ownership in broadcasting companies?  
Response 6 : Ownership controls under the Broadcasting Act only apply to a narrowly defined type 
of "broadca sting company". This is defined in section 32(2) of the Broadcasting Act as a company 
incorporated or registered under Singapore's Companies Act, which holds a "relevant licence" i.e. 
any free -to-air licence; or any broadcasting licence under which a subsc ription broadcasting service 
may be provided, which permits broadcast which is capable of being received in 50,000 dwelling -
houses or more, but does not include any class licence. For companies have more than 49% foreign 
equity ownership, approval from the  Minister for Communications and Information would be needed 
to hold a "relevant licence".  
Page 73, paragraph 3.113  
3.113.  Competition law applies to all enterprises, i.e., all natural or legal persons capable of engaging 
in commercial or economic activiti es, regardless of whether they are owned by foreign or 
Singaporean nationals, or by the Government or its official agencies. However, some sectors are 
excluded from the scope of application of this legislation due to public interest considerations (e.g., 
national security and defense) or because they already have sectoral competition frameworks. WT/TPR/M/413/Add.1  
 
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  Examples of the latter are the energy, telecommunications and postal services, media and airport 
services sectors.  
Questions:  
7. Is there by law any monitoring mechan ism to periodically review the relevance and 
necessity of maintaining exceptions to competition law?  
Response 7 : One of CCCS's strategic thrust is to enhance the competition and consumer protection 
regulatory and enforcement regime to ensure they remain re levant and robust. To this end, it 
reviews and updates the competition law (including the exceptions to the competition law) 
periodically even though there is no requirement by law.  
8. Regarding sectoral competition frameworks, are the regulators the ones tha t also 
enforce competition law in those sectors? How do they resolve conflicts that may arise as 
a result of this "double hat" of the authority (as regulator and as competition authority)?  
Response 8:  The regulators enforce the competition law in their res pective sectors as they have 
more suitable tools to ensure compliance or to address the particular competition concern.  The 
regulators can approach CCCS for advice on competition matters or conduct joint market studies to 
understand the competitive landsca pe of a particular industry better.  CCCS and the regulators will 
work closely together to resolve the conflicts that may arise to achieve the best outcome for 
competition and their sectors.  
Page 73, paragraph 3.114  
3.114. The Competition Act prohibits anti competitive activities that unduly prevent, restrict or distort 
competition. The three main prohibited activities are anticompetitive agreements, decisions and 
practices (prohibited by Section 34)57; abuse of dominant market position (prohibited by Section  
47)58; and mergers and acquisitions that substantially lessen competition (prohibited by Section 
54).59 Merger notification is not mandatory in Singapore; however, merging parties may choose to 
notify their merger to the CCCS and request a decision on the  present or future conformity of the 
situation resulting from the merger with the prohibition set out in Section 54.  
Questions:  
9. Is there any law initiative to implement an ex ante merger control regime?  
Response 9 : There are no plans to implement an ex a nte merger regime. Merger parties are 
strongly encouraged to do a self -assessment to check whether they run the risk of infringing Section 
54 of the Competition Act. Where merger parties choose to implement their merger without first 
notifying and obtainin g necessary clearances from CCCS despite potential competition concerns, 
they bear the risk of infringing Section 54 (anti -competitive merger) of the Competition Act.  
10. In case the competition authority determines that a merger or acquisition 
substantially l essens competition, could they request the dissolution of the merger or 
acquisition?  
Response 10 : Yes. To remedy, mitigate or eliminate any adverse effects, CCCS may require the 
merger to be dissolved or direct it to be modified.  
In general, should CCCS find that a merger has or is likely to result in an substantial lessening of 
competition ("SLC") in a market in Singapore, CCCS can consider the presence of any economic 
efficiencies in markets in Singapore that could outweigh the S LC arising from the merger. Any net 
economic efficiencies resulting from the merger would be considered under the exclusion for 
mergers. If net economic efficiencies are not sufficient to offset the adverse effects of an SLC arising 
from the merger, CCCS m ay consider possible merger remedies that could remedy, mitigate or 
prevent the SLC or any adverse effects resulting from the SLC.  WT/TPR/M/413/Add.1  
 
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  Furthermore, CCCS may consider any remedies that are offered by the merger parties at any time 
during the merger review proce ss. Merger parties may submit remedy proposals that could seek to 
mitigate the SLC or ensure that adequate efficiencies materialise post -merger.  
Page 73, paragraph 3.115  
3.115 . The Minister of Trade and Industry, based on a recommendation of the CCCS, may make a 
block exemption order to exempt certain categories of agreements from the prohibition under 
section  34. Exemptions may be granted to agreements that contribute to the promotion of technical 
or economic progress or to the improvement of production an d distribution.  
Questions:  
11. Is the exemption processed at the request of a party? what is the analysis procedure 
to be followed by the authority, to determine whether the exemption proceeds? What 
criteria do they use to make the decision?  
Response 11 : The exemption is made by the Minister (Trade and Industry) based on the 
recommendation of CCCS.  
Before making the recommendation, CCCS will publish details of the proposed recommendation and 
bring it to the attention of those likely affected, e.g. public consu ltation, and consider representations 
made regarding the proposed recommendation.  
In general, CCCS may recommend a block exemption if a particular category of agreements 
contributes to improving production or distribution, or promoting technical or economi c progress, 
without imposing undue restrictions, or possibly eliminating competition in respect of a substantial 
part of the goods or services in question.  
Page 74, paragraph 3.118  
3.118 In November 2016, a review of the Guidelines was completed and several reforms were 
introduced, including a new expedited procedure that allows companies under investigation to settle 
with the CCCS if they admit liability at an early stage and acknow ledge their involvement in 
anticompetitive activity, in exchange for a reduced financial penalty. Among other reforms, the 
reference year used to determine relevant turnover was changed, guidance was established on how 
the Commission would calculate financ ial penalties, and simplified procedures were adopted to help 
companies save time.  
Questions:  
12. Does the figure of early termination with acknowledgment of infringement proceed 
in any case of anticompetitive conduct?  
Response 12 : As a matter of principle, CCCS considers the Fast Track Procedure to be suitable for 
a case when CCCS is reasonably satisfied, based on information and evidence available to CCCS that 
the standard of proof has been met such that CCCS would be prepared to issue a Proposed 
Infringeme nt Decision or Infringement Decision. Under the Fast Track Procedure, businesses enter 
into an agreement with the CCCS where they admit their liability early by acknowledging their 
participation in an anti -competitive activity, in return for a reduction of  the financial penalty.  
13. What is the negotiation procedure for early termination? Which officials are involved 
in the negotiation?  
Response 13: The Fast Track Procedure consists of the following stages: (i) initiation, which may be 
by CCCS or the parties u nder investigation; (ii) discussion; (iii) agreement; and (iv) acceptance. 
Throughout the process, CCCS retains a broad margin of discretion as to whether to continue with 
the Fast Track Procedure.  
The investigation team in CCCS in charge of the investigat ion is involved in the Fast Track Procedure.  WT/TPR/M/413/Add.1  
 
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  Page 74, Table 3.9  
 
Question:  
14. Why is it that the number of investigations has been cut in half as of 2016?  
Response 14 : The number of cases that CCCS handles each financial year has remained fairly 
consistent i n the past five years, and the type of cases it concludes each year may differ slightly. 
The length of time taken for each case will vary depending on complexity and other factors.  
 
In 2017, CCCS issued an infringement decision on an international cartel o n ball bearings for 
engaging in anti -competitive agreements, and in 2018, CCCS issued an infringement decision 
against fresh chicken distributors for price coordination and market sharing. These are among the 
largest cases that CCCS had closed in terms of financial penalties levied.  
Page 75, paragraph 3.127  
3.127. In general, Singapore does not regulate or control the prices of goods or services. However, 
the Price Control Act (1990) allows for the exceptional imposition of a maximum price for certain 
goods  or services published in the National Gazette to combat speculation during periods of crisis, 
subject to the approval of the Minister for Trade and Industry. Price controls may also be imposed 
on certain operators considered "dominant" and who may abuse t heir market position and engage 
in anti -competitive practices, or to protect the public interest. For example, dominant operators 
must submit the price of any telecommunications service to the Infocommunications Media 
Development Authority (IMDA) for prior  approval. Also, since 2009, the Civil Aviation Authority of 
Singapore has established a regulatory framework to control the pricing of aeronautical facilities and 
services provided by monopoly airport operators. The Public Transport Board regulates fares for 
public transport services (bus and rail) to ensure a sustainable and affordable public transport 
system.  
Question:  
15. How many cases are there currently in which conditions have been set to the 
dominant economic agent?  
Response 15 : The obligations and conditions imposed on dominant licensees can be found in the 
Code of Practice for Competition in the Provision of Telecommunication Services, such as the duty 
to publish tariffs.  
For example, the list of tariffs offered by one of IMD A's dominant licensee is published at the 
following link: https://www.singtel.com/about -us/sustainability/tariff -filings . 
WT/TPR/M/413/Add.1  
 
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  Page 113, paragraph 4.108  
4.108 At the international level, MAS has been organizing the Singapore TechnoFinancial Festival 
every year since 2016 as a connecting and collaborative platform for the global technofinancial 
community. As of March 2021, MAS had signed 35 financial techno logy cooperation agreements with 
counterparts around the world. These agreements provide a framework for closer collaboration in 
the techno -financial sphere and promote innovation in financial services in the respective markets. 
According to MAS, the agree ments21 have yielded tangible results, including the internationalization 
of Singapore's fintech companies, the establishment of foreign fintech companies in Singapore, and 
the launch of joint innovation projects between MAS and its international counterpa rts. 
21 MAS, FinTech Cooperation Agreements. Retrieved from:  
https://www.mas.gov.sg/development/fintech/fintech -cooperation -agreements . 
Questions:  
16. Could Singapore ple ase provide more information on how the FinTech Cooperation 
Agreements have been structured?  
Response 16 : In general, FinTech Cooperation Agreements between MAS and its regulatory 
counterparts include the following provisions:  
i. a referral mechanism to help  FinTech firms from Singapore and the counterpart jurisdiction 
to access each other's markets;  
ii. a commitment to exchange views on emerging market trends and developments in 
FinTech, as well as regulatory issues on financial services innovation; and  
iii. a commi tment to facilitate joint innovation projects between MAS and the respective 
regulatory counterpart  
17. Could Singapore please provide more information on what provisions it believes 
have been key to achieving tangible results from these agreements?  
Response 17 : The key provisions would be the commitment to exchange views on emerging 
developments, as well as the commitment to facilitate joint innovation projects. As an example, MAS 
has collaborated on various Central Bank Digital Currency projects wit h the respective regulatory 
counterparts which MAS has entered into a FinTech Cooperation Agreement with.  
Government Report  
Page 12, paragraph 3.13  
3.13. Towards a Waste -Free Nation. Under the sustainable living pillar of the Green Plan, Singapore 
hopes to  encourage its citizens to be greener by reducing consumption and generating less waste. 
The first Zero Waste Master Plan, launched in 2019, outlines Singapore's key strategies to be a 
sustainable, resource -efficient, and climate -resilient nation. It envis ages adopting a circular 
economy -based approach to resource and waste management practices, as well as activities to 
achieve greater sustainability in production and consumption. The Plan provides support for 
companies to "turn waste into treasure", i.e., to recycle or transform waste into useful inputs for 
production. As an example, JTC Corporation, a government agency for the promotion of industrial 
development, is working with companies on Jurong Island7 to make it a more sustainable place.  
Question:  
18. Could Singapore please elaborate on the content of Green Plan in the sense of 
whether it includes any specific action lines for the service sector?  
Response 18:  For the tourism sector, when global tourism rebounds, we expect that tourists will 
have a great er interest in sustainable travel options such as eco -friendly hotels and attractions. To WT/TPR/M/413/Add.1  
 
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  prepare ourselves for these opportunities, we are strengthening Singapore as an innovative 
sustainable destination.  
The Singapore Tourism Board intends to work with t ourism industry players to set sustainability 
standards and is also exploring the feasibility of benchmarking these standards with Global 
Sustainable Tourism Council standards.  
We see opportunities for Singapore be a great location for companies to launch  sustainable products 
and experiences (e.g. net zero -carbon hotel or eco -friendly entertainment events), and also a great 
location for companies to test -bed sustainable tourism solutions (e.g. waste management systems).  
For the retail sector, Enterprise Si ngapore will be working with key enterprises and partnering our 
industry associations such as Singapore Furniture Industries Council and Textile & Fashion 
Federation to build collaborations in the sustainability ecosystem and drive capability development 
for our enterprises, to meet rising consumer awareness and demands in sustainable products. These 
capabilities will include sustainability in the areas of product development, materials, packaging, 
supply chain, and waste management.  
For the food services s ector, as we see more sustainability -conscious consumers, Enterprise 
Singapore aims to improve our companies' green branding and seek more collaborations in the area 
of sustainability.  
Page 15, paragraph 6.2  
Agreements on digital economy  
6.2. Digital econo my agreements consolidate Singapore's engagement with like -minded trading 
partners on a wide range of key aspects of the digital economy. Complementing Singapore's network 
of FTAs, such agreements aim to set international standards, define benchmarks and h armonize 
rules that will enable or expand digital trade, particularly with respect to newer digital issues (such 
as e-invoicing, e -payments, artificial intelligence governance and ethics, and digital identities) that 
have not yet been included in existing FTAs.  
Question:  
19. Could Singapore please provide more information on the experience of 
implementing agreements related to digital economy?  
Response 19:  Singapore looks for win -win outcomes in negotiating and implementing Digital 
Economy Agreements. Our DEA s are more focused than our traditional bilateral FTAs, and dive 
deeper into issues related to the digital economy, allowing Singapore and our close partners to:  
(i) strengthen digital trade rules where they already exist; and  
(ii) explore more customised collaborations in emerging digital areas.  
For the customised collaborations in emerging areas (such as Artificial Intelligence and digital 
identities), Singapore hopes to initiate concrete and tangible projects on possible business use cases.  
For example, as part of the Singapore -Australia DEA, Singapore has signed several Memorandum of 
Understandings (MOUs) ranging from trade facilitation, to digital identities and Artificial Intelligence. 
Likewise, Singapore is participating in several projects as part of  the Digital Economy Partnership 
Agreement (DEPA), including projects on the National Single Window project at APEC with Chile, and 
the International Connectivity System (ICS) with New Zealand.  
Page 15, paragraph 6.3  
Singapore has signed two digital econo my agreements: (i) the Digital Economy Partnership 
Agreement (DEPA) between Singapore, Chile and New Zealand, and (ii) the Singapore -Australia 
Digital Economy Agreement (SADEA). The digital economy agreements establish a framework for 
collaboration on digi tal trade issues, promote interoperability between different regimes, and WT/TPR/M/413/Add.1  
 
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  address emerging trade policy issues arising from digitization. They are also complemented by 
tangible projects implemented by different government agencies. For example, the Singapo re-
Australia Digital Economy Agreement includes seven Memoranda of Understanding to implement 
some of the standards covered in the Agreement by identifying or identifying collaborative projects, 
specifically in the areas of artificial intelligence, data in novation, digital identities, personal 
information protection, e -invoicing, trade facilitation, and electronic certification of agricultural 
products. The Digital Economy Partnership Agreement also contains projects on linking national 
single window, e -invoicing and an international connectivity system. Singapore is negotiating its 
third digital economy agreement with Korea and hopes to conclude more agreements with other 
like-minded economies in the future.  
Questions:  
20. Could Singapore please share what hav e been the biggest challenges in 
implementing these types of agreements?  
Response 20 : The most challenging issues in negotiating DEAs relate to the fast -evolving nature 
of digital economy matters. Emerging digital areas, such as Artificial Intelligence and  digital 
identities, are rapidly transforming consumer behaviour and business models. These are digital areas 
which are still developing, but which will benefit from international dialogue and alignment to avoid 
divergent domestic frameworks that are not i nteroperable.  
Singapore has thus taken a collaborative approach to our DEAs. For example, as part of the 
Singapore -Australia DEA, Singapore has signed several Memorandum of Understandings (MOUs) 
ranging from trade facilitation, to digital identities and Ar tificial Intelligence. Likewise, Singapore is 
participating in several projects as part of the Digital Economy Partnership Agreement (DEPA), 
including projects on the National Single Window project at APEC with Chile, and the International 
Connectivity Sys tem (ICS) with New Zealand.  
21. Could Singapore please share what elements have been key to achieving the 
objectives of these agreements?  
Response 21: There are 3 key objectives we aim to achieve in our DEAs:  
(i) Aligning digital rules and standards and facil itate interoperability between digital systems;  
(ii) Supporting cross border data flows and safeguard personal data and consumer rights; and  
(iii) Encouraging cooperation between Singapore's economic partners in nascent areas such as digital 
identities, artificial intelligence, and data innovation.  
These objectives are achieved by (i) strengthening trade rules where they already exist; and (ii) 
exploring customised collaborations in emerging digital areas.  
For the customised collaborations in emerging areas (such as Artificial Intelligence and digital 
identities), Singapore hopes to initiate concrete and tangible projects on possible business use cases.  
For example, as part of the Singapore -Australia DEA, Singapore has signed several Memorandu m of 
Understandings (MOUs) ranging from trade facilitation, to digital identities and Artificial Intelligence. 
Likewise, Singapore is participating in several projects as part of the Digital Economy Partnership 
Agreement (DEPA), including projects on the N ational Single Window project at APEC with Chile, and 
the International Connectivity System with New Zealand  
Page 15, paragraph 6.4  
Green Economy Agreements  
6.4 Singapore is also exploring green economy agreements with like -minded trading partners with 
the objective of (i) facilitating trade and investment in environmental goods and services, (ii) 
strengthening environmental governance, and (iii) enhancing capacity to address climate change. WT/TPR/M/413/Add.1  
 
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  Areas of collaboration could include carbon emissions trading, gre en finance, and clean energy 
solutions.  
Question:  
22. Could Singapore please provide more information on the main elements you are 
considering in your analysis of potential green economy agreements with like -minded 
trading partners?  
Response 22 : The main eleme nts within a Green Economy Agreement (GEA) would be discussed 
with the bilateral partner. Nevertheless, Singapore envisage that the GEA would cover a broad scope 
of issues, including green financing, carbon services, and low -carbon solutions.  
 WT/TPR/M/413/Add.1  
 
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  OMAN  
REGARDING THE SINGAPORE REPORT (WT/TPR/G/413)  
Green Economy Agreements  
PAGE 14 (PARA 6.4)  
The Singapore report states that Singapore is also exploring Green Economy Agreements (GEAs) 
with like -minded trading partners, that seek to (i ) facilitate trade and investment in environmental 
goods and services, (ii) strengthen environmental governance, and (iii) enhance capacity to address 
climate change. Some areas of cooperation could include carbon trading, green financing and clean 
energy solutions . 
1. The Sultanate of Oman question :Could elaborate more details on this initiative ? 
and if there are any agreements has signed or are in progress ?  
Response 1 : Singapore is currently exploring a Green Economy Agreement with Australia, with 
discus sions at a preliminary stage.  
 WT/TPR/M/413/Add.1  
 
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  CHILE  
WT/TPR/G/413 -Report of the Government of Singapore  
3 ECONOMIC OUTLOOK AND PATH TO RECOVERY  
3.2 Strengthening our position as a key link in the global value chain  
Paragraph 3.10, page 11  
Utilizing innovation capabilities to seize new opportunities. According to the Global Innovation Index, 
Singapore was the eighth most innovative economy in the world in 2020 and has been ranked 
number one in Asia for seven years. Key to supporting Singapor e's innovation -driven economy and 
the growth of industry and trade in the country has been having a strong IP regime and transforming 
IP into commercial outcomes. In order to enhance and accelerate the transformation of public sector 
IP and R&D outputs int o private sector commercial outcomes and increased value creation, 
Singapore launched its National Intellectual Property Protocol in 2018, which provides clear principles 
and guidelines for managing and commercializing intellectual property created from pu blicly funded 
R&D. In addition, Singapore seeks to maintain an open and dynamic innovation environment, where 
the public and private sectors can jointly address challenges based on problem elements or new 
opportunities that are identified and can leverage resources such as the Open Innovation Network 
and the Singapore Startup Network, which pool, respectively, relevant challenges and startups in 
Singapore.  
1. Question: In paragraph 3.10. it is highlighted that, in 2018, Singapore launched the 
National Protoco l on Intellectual Property. In this regard, Chile would be grateful if 
Singapore could inform whether such protocol contemplates guidelines or principles for 
micro, small and medium -sized companies  
Response 1 : The National IP Protocol sets out principles t o streamline and facilitate the transfer of 
intellectual property (IP) generated from publicly -funded research & development (R&D) to the 
private sector. It also contains guidelines on how agencies can collaborate with businesses in the 
private sector. One  of the guidelines is that in pursuing commercialisation activities, agencies should 
bear in mind the objectives of value creation and value capture for Singapore. More information on 
the National IP Protocol, including the key principles, can be found at:  
www.ipos.gov.sg/resources/for -public -agencies/national -ip-protocol . 
4 OPEN, FACILITATIVE AND INCLUSIVE BUSINESS INFRASTRUCTURE  
Paragraph 4.1. page 12  
Singapore aims to have a fair and inclusive economy that empowers all businesses, workers and 
Singaporeans with the benefits of globalization and trade.  
Paragraph 4.2. p. 12  
Singapore has invested heavily in developing its workforce. For example, the SGUni ted Employment 
and Vocational Training Scheme was launched in May 2020 to create jobs and training opportunities 
for workers affected by the economic impact of the pandemic and has since helped nearly 76,000 
people find new employment. Labor and productivi ty transformation grants were also put in place 
to help Singaporeans take advantage of cross -border telecommuting opportunities.  
2. Question: In paragraphs 4.1 and 4.2, it is mentioned that Singapore seeks to foster 
a fair and inclusive economy in order to re ap the benefits of globalization and trade. In 
this regard, Chile would be grateful if Singapore could share examples of measures 
implemented to particularly support women, who globally have been disproportionately 
impacted by the pandemic.  
Response 2 : Singapore's employment rate for females aged 25 -64 has remained relatively stable 
at around 73% in 2020. The incidence of retrenchment was about the same for men and women. 
We will continue our efforts to support women to remain in and progress in the workfor ce. WT/TPR/M/413/Add.1  
 
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  In the longer term, we will support our women workers by providing more opportunities for them to 
train and upskill to remain relevant in the workforce, especially as the retirement and re -employment 
ages are raised and women have a longer life span.  
Helping SMEs adapt to the digital economy  
Paragraph 4.3. p. 12.  
"Small and medium -sized enterprises (SMEs) are central to Singapore's economy: they employ two -
thirds of the workforce and contribute almost half of GDP. As digital technology is transforming a ll 
sectors of the Singaporean economy, Singapore has supported its SMEs to benefit from digital 
technologies and thrive and take advantage of growth opportunities".  
3. Question: Considering that paragraph 4.3. highlights the relevance of SMEs for 
Singapore's economy. Chile would be grateful if Singapore could indicate whether the 
domestic legislation establishes a concept on SMEs and what is the scope of such concept.  
Response 3 : ESG defines SMEs as companies with annual revenue of not more than S$100mil, or 
with employment size of not more than 200 employees, both at the company level and group level.  
Paragraph 4.4. pg. 12.  
"Launched in April 2017, the Infocommunication  Media Development Authority's (IMDA) SME 
Digitization program facilitated the digitization of SMEs and, by March 2021, more than 63,000 SMEs 
had adopted digital solutions. Under the program, sector -specific Industrial Digitalization Plans, 
which are align ed with their respective Sector Transformation Maps, have provided SMEs with 
practical guidance on digital solutions and relevant employee training options according to the 
different stages of SME growth. In June 2020, the program was expanded to include t he "Digital 
Growth" initiative, which helps companies participate in business -to-business (B2B) and business -
to-consumer (B2C) e -commerce platforms to sell abroad without the need for a physical market 
presence".  
4. Question: Paragraph 4.4. indicates that und er the "Sector Specific Industrial 
Digitalization Plans" program, Singapore has provided SMEs with practical guidance on 
digital solutions and relevant employee training options according to the different stages 
of SME growth. In this regard, Chile would b e grateful if Singapore could indicate:  
- what are the specific sectors that have been incorporated in the "digitization 
plans"?  
- The criteria that have been considered to determine the different stages of SME 
growth.  
Response 4:  The Industry Digital Plans (IDPs) provide sector -specific roadmaps for digital solutions 
and skills training recommended for each stage of business growth.  
To date, IMDA has rolled out IDPs for the following sectors – Environmental Services, Food Services , 
Logistics (including Air Transport), Media, Retail, Security, Wholesale Trade, Sea Transport 
(Bunkering, Harbour Craft and Ship Agency), Accountancy, Hotel, Construction and Facilities 
Management, Training and Adult Education, Land Transport, Early Child hood, Food Manufacturing, 
as well as Marine and Offshore Engineering  
More IDPs are currently being developed. Refer to www.imda.gov.sg/idp  for the IDPs rolled out for 
the respective sectors.  
WT/TPR/S/413 - WTO Sec retariat Report  
Summary  
Paragraph 14, p. 9  WT/TPR/M/413/Add.1  
 
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  "Singapore has long been at the forefront of trade facilitation initiatives. It was one of the first WTO 
Members to ratify the Trade Facilitation Agreement, and has implemented all its provisions since the 
Agreeme nt's entry into force in 2017. Singapore continues to have in place the Integrated Risk -
based Trade Facilitation System (TradeFIRST), based on which the Customs Department applies 
trade facilitation measures to businesses according to their classification into five categories (basic 
to premium). Singapore has also engaged in trade facilitation initiatives under ASEAN, including the 
implementation of the ASEAN Single Window from December 2019".  
5. Question: Regarding paragraph 14, Chile would appreciate if Sing apore could:  
- Explain the requirements/criteria or assumptions used by the Customs Department to 
apply trade facilitation measures to companies contemplating the five classification 
categories.  
- In which categories would micro, small and medium -sized ent erprises fall and what 
trade facilitation measures are applied to them?  
Response 5:  The criteria under the TradeFIRST scheme was formulated with reference from the 
World Customs Organization's SAFE Framework of Standards to Secure and Facilitate Global Tra de 
(SAFE Framework). The 6 broad assessment categories are: Company Profile, Procedures and 
Processes, Security, Inventory Management, Compliance and Other Scheme -Specific requirements.  
Singapore Customs grants trade facilitation measures to the companies according to their 
classification under the TradeFIRST scheme, as determined by their ability to meet the relevant 
assessment criteria. This is not determined by the size of the companies.  
2 TRADE AND INVESTMENT REGIMES  
2.3 Trade agreements and arrangement s 
2.3.2 Regional and Preferential Agreements  
Paragraph 2.29, pp. 37 -38 
"AEC Project 2025 aims to transform ASEAN so that it becomes "(A) a highly integrated and cohesive 
economy; (B) a competitive, innovative and dynamic ASEAN; with (C) enhanced sectoral 
connectivity and cooperation; that is (D) resilient, inclusive and people -centered, and becomes (E)  a 
global ASEAN". Recently, ASEAN conducted a mid -term stocktaking on implementation progress, 
which found that overall, between 2016 and 2020, satisfactory p rogress had been made in the 
implementation of the Blueprint. To date, ASEAN has implemented 54.1% of the MLAs outlined in 
the AEC 2025 Project. Some of the achievements are listed below:  
 - the promotion of global value chains through the removal of discriminatory and formal 
market access restrictions, trade facilitation and policy coherence, through the Roadmap for 
Increasing Participation in Global Value Chains in ASEAN;"  
6. Question: In paragraph 2.29, the ASEAN Economic Community (AEC) 2025 project 
is highlighted, which seeks to transform the economic integration of ASEAN and thus 
achieve the increase of its ambitions and expansion in its global reach (economic 
integration, competitiveness, innovation, connectivity, resilience, among others). In this 
regard, it is noted that within the balance in the progress of the AEC 2025 project (2016 -
2020 period), the "Roadmap for Increasing Participation in Global Value Chains in ASEAN" 
was developed. In this regard, Chile would be grateful to Singapore if, in th is context, it 
could provide background information on the concrete actions that have been taken to 
promote the increase in the participation of Value Chains in ASEAN. Chile would also be 
grateful if Singapore could share the aforementioned document.  
Respo nse 6 : The Work Plan on Enhancing GVC Participation in ASEAN (2016 -2025) recognises the 
cross-cutting and multifaceted nature of Global Value Chains (GVCs) and brings together different 
strands of work under different ASEAN sectoral bodies to undertake a m ore holistic approach to 
GVCs. The Work Plan is for ASEAN Member States' (AMS) reference and the priority areas include 
(i) enhance participation and upgrading in GVCs by creating an enabling policy environment, (ii) 
improve statistics and analytical capac ity in support of GVC related activities, (iii) improve trade in WT/TPR/M/413/Add.1  
 
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  services within GVCs, (iv) make GVCs inclusive by promoting Small and Medium Enterprises (SME) 
and AMS engagement, and (v) facilitate readiness for tomorrow's GVCs.  
In face of the COVID -19 pandemic, ASEAN continues to work to strengthen global value chain. For 
instance, ASEAN adopted the Hanoi Plan of Action on Strengthening ASEAN Economic Cooperation 
and Supply Chain Connectivity in Response to the COVID -19 Pandemic in June  2020 
(https://asean.org/asean2020/wp -content/uploads/2021/03/15. -Hanoi -POA.pdf ). 
3 TRADE POLICIES AND PRACTICES, BY MEASURE  
3.1 Measures that directly affect imports  
3.1.3 Tariffs  
Paragraph 3.18, p. 48 -49. 
"In 2021, Singapore's applied MFN tariff consists of 10,813 tariff lines at the 8 -digit level. All tariff 
lines are subject to zero rates, except for two product categories (four tariff lines): stout or porter, 
and other malt beer s, including ale. These products are subject to specific and bound tariffs 
(Table  3.2). On April 15, 2020, medicated samsu and other samsu were exempted from import 
duties in accordance with the Declaration on the  
On 15 April 2020, medicinal samsu and oth er samsu were exempted from import duties in 
accordance with the Declaration on Trade in Essential Goods to Combat the Pandemic of COVID -19". 
 
Paragraph 3.18, p. 48 -49. 
"As part of its Uruguay Round market access commitments, Singapore bound 69.6% of its tariff lines 
(100% of tariffs on agricultural products and 65.1% of tariffs on non -agricultural products). The fact 
that around 30% of tariff lines remain unbound may create a degree of unpredictability for traders. 
Most bound tariffs are ad valorem an d range from 0% to 10%. The arithmetic average of bound 
rates is 6.6% (Table 3.3)".  
WT/TPR/M/413/Add.1  
 
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7. Question: Paragraph 3.18 indicates that, in 2021, Singapore states that out of 
10,813 tariff lines (8 -digit, HS 2017), all are subject to zero rates, with the exception  of 
four tariff lines. Subsequently, in paragraph 3.19, it is stated that, as a result of the 
Uruguay Round, in terms of market access, Singapore bound 69.6% of its tariff lines 
(100% of tariffs on agricultural products and 65.1% of tariffs on non -agricult ural 
products). In this regard, Chile would be grateful if Singapore could inform whether there 
are any proposals that seek to move towards a greater binding of its tariffs in the WTO. 
This, considering that 65% of tariff lines (for non -agricultural produc ts) have not yet been 
bound.  
Response 7 : Singapore recognises the importance of free trade to economic and trade 
development, and has always adopted and applied a largely free tariff regime, with tariffs imposed 
only on 4 tariff lines. While Singapore has not bound all our tariff lines under the WTO, we have 
WT/TPR/M/413/Add.1  
 
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  committed full tariff liberalisation under our network of 26 FTAs, which covers all of our major trading 
partners. Singapore's future plans or proposals on binding of our tariff rates will take into acc ount 
developments at the WTO.  
 WT/TPR/M/413/Add.1  
 
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  CHINA  
PART I: QUESTIONS REGARDING THE SECRETARIAT REPORT  
Page 9, Para 17  
Export controls are maintained on a number of products on security, safety, health, and 
environmental grounds, or to fulfil internation al commitments.  
Question ： 
1. Please describe the specific products subject to export controls.  
Response 1:  Please visit this link ( https://www.customs.gov.sg/businesses/national -single -
window/overview/annexes -and-appendices ) and refer to Appendices B, C and D for the products 
subject to export control.  
Page 9, Para 21  
Singapore's state -owned enterprises (also referred to as government -linked corporations (GLCs)) 
continue to play a major role in the economy.  
Question ： 
2. Please indicate the specific role played by state -owned enterprises in the economy, 
and the relationship between state -owned enterprises and the government.  
Response 2 : In the early stages of Singapore's economic development, many companies were 
formed by the Government to carry out critical functio ns (e.g. telecommunications, airline, 
shipyards). These were commercial activities, but nonetheless too risky for investors to commit to 
capital intensive ventures in a nascent economy. As Singapore's economy grew, the Government 
sought to facilitate a cle ar separation of the Government's roles as policy maker, regulator and 
shareholder.  
Temasek was formed in 1974 to hold and manage the Government's investments in these companies 
on a commercial basis. Temasek makes its decisions to invest, divest or hold onto companies based 
on a commercial basis.  
As a shareholder, Temasek promotes sound corporate governance in its portfolio companies, which 
are guided by their own respective boards and management. Temasek does not direct their business 
decisions or opera tions.  
The Government maintains an arms -length relationship with the investment companies. The 
Government does not influence or direct individual investment decisions. Their respective Boards 
and professional management teams are responsible for those deci sions, which are driven by 
commercial considerations.  
Page 10, Para 26  
Manufacturing is a major pillar of the economy. Its share in GDP increased from 18% in 2015 to 
21.5% in 2020, with an annual average growth rate of 4.6% during the same period. Despite the 
COVID -19 pandemic, some subsectors like biomedical, electronics, and precision engineering 
performed well in 2020.  
Question ： 
3. Please introduce the main supportive measures for manufacturing industry.  
Response 3 : The Government seeks to retain existing m anufacturing capabilities and capacities, 
while building new ones. As a small and open economy, Singapore recognises the importance of WT/TPR/M/413/Add.1  
 
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  being connected to the rest of the world and intends to keep its borders open to allow manufacturers 
to freely move their  goods from, or through, Singapore. Besides connectivity, Singapore aims to 
continue to count on its competitive advantages of legal certainty, intellectual property protection, 
policy consistency and coherence, and a highly skilled and educated workforce,  so as to overcome 
its size constraints in land and labour. Singapore also aims to implement the principles of Industry 
4.0, i.e. the intelligent networking of industrial machines and processes with the help of information 
and communication technologies.  
Page 10, Para 27  
Over the same period, Singapore improved its prudential and Anti -Money Laundering and Countering 
the Financing of Terrorism frameworks for all subsectors, simplified its banking licensing regime, 
and created a legal framework and developmen t scheme for fintech and e -payment systems.  
Questions ： 
4. What measures has Singapore taken in financial sector under Anti -Money 
Laundering and Countering the Financing of Terrorism frameworks?  
Response 4:  Please refer to paragraphs 4.65 -4.66 on page 95 of th e Secretariat Report, which 
elaborates on the anti -money laundering and countering the financing of terrorism ("AML/CFT") 
frameworks for the banking sector.  
Singapore supports global efforts to combat money laundering, terrorism financing and proliferatio n 
financing. Maintaining a clean and trusted financial centre is important given Singapore's role as an 
international business hub. MAS requires our financial institutions to have effective and sufficiently 
robust controls to detect and deter such illicit activities. These include the need to identify and know 
their customers (including beneficial owners), conduct regular account reviews, and monitor and 
report any suspicious transactions.  
MAS also partners the industry to bolster their defences, by engagin g them on emerging risks, 
evolving criminal typologies and industry best practices. To enhance our risk -based measures, MAS 
has adopted the use of data -analytics (e.g. network linked analysis) in its AML/CFT supervision to 
better identify higher risk finan cial institutions, customers and transactions. MAS has also worked 
with and encouraged financial institutions to adopt the use of data -analytics to enhance their money 
laundering and terrorism financing risk detection.  
5. Please introduce the simplified bank ing licensing regime . 
Response 5 : MAS has streamlined the bank licensing framework by phasing out the Offshore Bank 
licence and moving towards a two -tier licensing framework that distinguishes between full banks 
that offer retail services and wholesale ban ks that specialise in the wholesale segment. MAS has 
stopped issuing Offshore Bank licenses since April 2016 and has converted all existing Offshore 
Banks to Wholesale Banks.  
6. Please introduce the newly created legal framework and development scheme for 
fintech and e -payment systems.  
Response 6 :  
Payment Services Act  
The Payment Services (PS) Act is a forward looking and flexible framework for the regulation of 
payment systems and payment service providers in Singapore. It provides for regulatory certainty 
and consumer safeguards, while encouraging innovation and growth of payment services and 
FinTech. Parliament passed the PS Act on 14 January 2019. Further information on the PS Act can 
be found at: https://sso.agc.gov.sg/Acts -Supp/2 -2019/Published/20190220?DocDate=20190220 . 
Financial Sector Technology and Innovation Scheme  WT/TPR/M/413/Add.1  
 
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  The Financial Sector Technology and Innovation Scheme (FSTI) was introduced by MAS in June  2015 
to support the creation of a vibrant ecosystem for innovation in the financial sector. $225  million 
was committed under the FSTI for five years, from 2015 to 2020.  
On 13 August 2020, MAS announced that it will commit S$250 million over the next three  years 
under the enhanced Financial Sector Technology and Innovation Scheme (FSTI 2.0) to accelerate 
technology and innovation -driven growth in the financial sector. FSTI 2.0 also aims to strengthen 
support for large -scale innovation projects, and build a stron ger pipeline of Singaporean talents in 
FinTech.  
Over the next three years, FSTI 2.0 can be used for the following purposes:  
(i) Innovation Labs: to nurture a culture of innovation in the financial services sector by attracting 
financial institutions to set up research and development and innovation labs in Singapore.  
(ii) Financial institution -Level Projects: to catalyse innovativ e solutions by financial institutions to 
advance the competitiveness of Singapore's financial sector.  
(iii) Industry -wide Projects: to aid the development of industry -wide technological infrastructure, 
and improve the financial sector's efficiency and pro ductivity.  
(iv) Proof-of-Concept (POC) Grant: to promote greater experimentation in the financial sector and 
accelerate the development of nascent innovative technologies, by supporting early stage 
development of novel solutions.  
(v) Artificial Intellige nce and Data Analytics (AIDA) Grant: to promote the adoption and 
integration of AI and data analytics in financial institutions.  
(vi) Cybersecurity Capabilities Grant: to strengthen the cyber resilience of the financial sector in 
Singapore and help financ ial institutions develop local talent in cybersecurity.  
Digital Acceleration Grant (DAG): to support smaller financial institutions and FinTech firms in 
adopting digital solutions to improve productivity, strengthen operational resilience, manage risks 
better, and serve customers better.  
Page 14, Para 1.8  
As part of its structural reform agenda, the Government intends to gradually increase its local 
workforce, especially in areas where there are skills shortages, while maintaining "a measured 
dependence" o n lower -skilled foreign labour. In the budgets for the most recent three fiscal years, 
a plan for reducing reliance on foreign workers at the lower - and mid -skilled levels was announced, 
which is being implemented in phases from 2020 to 2023. At the same t ime, the policy with respect 
to the foreign workforce was adjusted in FY 2020 to support the inflow of higher -skilled foreigners.  
Questions ： 
7. What specific measures does Singapore take to increase its local workforce? Is there 
any difference in salary leve ls between local workers and foreign workers with similar 
skills and experience?  
Response 7:  
What specific measures does Singapore take to increase its local workforce?  
Singapore hopes to increase our local workforce by (i) enabling senior workers to cont inue working 
if they wish to and (ii) increasing female workforce participation rate.  
For senior workers:  WT/TPR/M/413/Add.1  
 
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     will be increasing the statutory Retirement age (RA) and Re -employment age (REA) to 65 
and 70 respectively by 2030. The first move will take effect  from 1 July 2022, with RA increasing 
from 62 to 63, and REA increasing from 67 to 68. This will allow senior workers to work longer if 
they wish to.  
  We encourage employers to hire senior workers through incentives such as Senior 
Employment Credit where  employers receive wage offsets for hiring workers aged 55 and above, 
and earning below S$4,000 a month.  
 We also encourage employers to adopt age -friendly workplace practices to retain the senior 
workers.  
  Under the Industry Transformation Maps (ITM), ma npower and economic agencies in 
Singapore work together to adopt strategies to retain senior workers in their sectors and create new 
jobs for senior workers where possible. The ITM were launched in 2016 as road maps to drive 
transformation for 23 industrie s across manufacturing, built environment, trade and connectivity, 
essential domestic services, modern services and lifestyle. To address the systemic shifts and seize 
new opportunities brought about by COVID -19, each of the 23 ITMs will be refreshed over the next 
5 years through ITM 2025, by reviewing the existing ITMs and updating the sectoral strategies, to 
meet the accelerated changes arising from the changing operating environment.  
We adopt a multi -pronged strategy to encourage and support our women wo rkers to enter and 
remain in the workforce:  
  We promote and support the provision of flexible work arrangements and other work -life 
strategies in order to help women remain in the workforce whilst managing their personal needs.  
  We also employ active lab our market measures to facilitate women to remain in and re -enter 
the workforce.  
Is there any difference in salary levels between local workers and foreign workers with similar skills 
and experience?  
Singapore is committed to remain an open and connected h ub for international businesses we 
continue to welcome foreign manpower that complements our local workforce with skills in short 
supply or new networks of opportunity.  
The salary levels of foreign workers employed in Singapore are determined by the market . Generally, 
employers take reference from the salaries of locals with similar skills and experience in determining 
what to pay their foreign workers.  
8. Please provide more information about the adjustments of the policy with respect 
to the foreign workforce.  
Response 8:  We regularly update our work pass criteria to keep them current. The work pass salary 
criteria is updated from time to time in the light of prevailing conditions. We also strengthened the 
Fair Consideration Framework, which encourage s fair employment practices that are open, merit -
based, and non -discriminatory. The changes are meant to promote greater awareness in mid -skilled 
jobs to local jobseekers, and give more time for local jobseekers to respond to job openings.  
In recent years , we have progressively reduced the Dependency Ratio Ceiling (which is the ratio of 
lower - and mid - skilled foreign workers that a firm can hire among its workforce) to encourage a 
more sustainable and resilient workforce at the lower -skilled level, in tan dem with industry 
transformation efforts to raise productivity.  
Page 19, Para1.23.  
To complement the Government's efforts to ensure access to affordable credit for businesses, 
especially SMEs, the MAS set up a new SGD Facility to provide very low -cost fun ding to financial 
institutions lending to firms under the Enterprise Singapore schemes. The MAS also adjusted banks' 
capital and liquidity requirements, on a temporary basis, to enhance their ability to lend. Also, in WT/TPR/M/413/Add.1  
 
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  collaboration with the financial indus try, the MAS put in place credit and insurance relief measures 
for individuals and SMEs, such as deferrals and flexible terms for payments of loans and insurance 
premiums.  
Questions ： 
9. Have the measures adopted by MAS achieved the expected effect ?  
Response 9: MAS introduced the MAS SGD Facility for ESG Loans, a funding -for-lending scheme, 
in April 2020. This aimed to support financial institutions (FIs) in providing loans to small and 
medium enterprises, in tandem with the Government's loan guarante e schemes. Under the loan 
guarantee schemes, the Government shared up to 90% of the risk on loans extended by FIs to 
SMEs, reducing the risk premium charged by FIs. MAS' facility complemented this by providing low -
cost SGD funding to FIs for a tenor of two  years, at a rate of 0.1% p.a. This translated to lower cost 
of funding for SMEs, including in the longer tenors. As at 31 March 2021, the facility lent S$11  billion 
to FIs, catalysing around S$17 billion of loans, and benefitting more than 22,000 companie s. 
MAS coordinated with other government agencies and worked closely with the financial industry on 
a package of credit and premium relief measures to complement fiscal measures announced by the 
government. As part of the relief package, banks and finance companies granted payment deferrals 
to individuals and SMEs who faced short term challenges in servicing their loan instalments as a 
result of COVID -19. Life insurers granted premium deferrals of up to 6 months and general insurers 
provided interest -free i nstalment plans to individuals and SMEs who similarly faced short -term 
challenges in servicing their policies.  
Further details on these measures can be found on MAS' website, at the following link: 
https://www.mas.gov.sg/regulation/covid -19  
The credit relief measures eased cashflow pressures for individuals and businesses. The premium 
relief measures enabled continued insurance coverage for businesses and individuals. The take -up 
of these measures  reflects the broad -based assistance rendered to borrowers and policyholders 
impacted by the Covid -19 crisis. In 2020:  
• Payment deferments on more than 36,000 property loans and 6,500 SME secured loans were 
approved.  
• More than 35,000 life and health ins urance premium deferments applications were approved. 
More than 1,300 individual and around 500 corporate applications for instalment payment plans for 
the general insurance policies were approved.  
Ahead of the expiry of the above measures, MAS worked with  the financial industry on a set of 
extended support measures to help individuals and businesses transition gradually to full loan 
repayments, which was announced in October 2020. The extended support measures provide further 
cashflow relief while requirin g borrowers to make partial principal repayments, thus ensuring debt 
sustainability over the longer term.  
As Singapore progresses in its vaccination efforts and transits to an endemic COVID -19 situation, 
loan repayments must start normalising so as to min imise debt accumulation. MAS hence does not 
expect a further extension of industry -wide support measures. Instead, borrowers and policyholders 
who are unlikely to be able to resume full loan instalment repayments and premium payments by 
the end of the reli ef periods are encouraged to approach their lenders and insurers early to work out 
longer term repayment solutions.  
Page 28, Para2.7.  
In 2020, Singapore enacted domestic legislation – the Singapore Convention on Mediation Act (2020) 
and the Supreme Court o f Judicature (Singapore Convention on Mediation) Rules (2020) – to give 
effect to the United Nations Convention on International Settlement Agreements Resulting from 
Mediation (also known as the Singapore Convention on Mediation (SCM)) and became one of th e 
first two countries (the other being Fiji) to ratify the SCM. With the entry into force of the SCM on WT/TPR/M/413/Add.1  
 
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  12 September  2020, businesses can utilize the harmonized and simplified enforcement framework 
under the SCM as an effective dispute resolution option fo r their cross -border transactions.  
Question ： 
10. With the entry into force of the SCM, how will Singapore strengthen the cooperation 
with China in dispute settlement?  
Response 10:  With the Singapore Convention on Mediation (SCM) in force, businesses seeking to  
enforce an international mediated settlement agreement can do so by applying directly to the 
competent authority of Parties to the SCM, instead of having to enforce the agreement as a contract 
in accordance with each country's domestic process. For instan ce, as Singapore is a Party to the 
SCM, Chinese businesses are now able to enforce their mediated settlement agreements in the 
Singapore courts under the SCM. This will allow businesses seeking timely and cost -effective 
solutions to resolve their cross -border commercial disputes to have greater assurance that mediation 
can be relied on to settle their disputes.  
We hope that China, and other WTO Members, will come on board as Parties to the SCM soon. With 
more countries becoming Parties to the SCM, the SCM will facilitate the administration of 
international transactions by commercial parties and become a more effective enforcement tool. We 
look forward to working with China and other WTO Members to promote mediation and the SCM.  
Page 37, Para2.46.  
…Singapore  applies no restrictions on reinvestment or repatriation of earnings or capital.  
Question ： 
11. Has Singapore had any disputes or international arbitration cases related to 
exchange restrictions with investors?  
Response 11:  To date, Singapore has not had any d isputes or international arbitration cases related 
to exchange restrictions with investors.  
Page 37, Para 2.47.  
Singapore maintains some limitations on foreign ownership and on business scope and some 
residency restrictions on sectors considered as strategic and/or critical for national security, such as 
broadcasting, domestic news media, retail banking, legal and a ccounting services, ports and airports 
(Section 4.4), and residential property ownership. Under Singaporean law, the constitution of a 
company may also include shareholding limits that restrict foreign ownership in companies in some 
of these sectors.  
Question： 
12. Please specify the restrictions of foreign ownership and relevant laws and 
regulations.  
Response 12 : Singapore maintains restrictions in specific sectors for strategic reasons such as 
national security considerations. Existing restrictions, as well a s relevant laws and regulations they 
derive from are clearly inscribed in the FTAs Singapore has concluded with WTO Members, including 
China.  
Page 41, Para3.4  
In September 2018, Singapore launched the Networked Trade Platform (NTP), a one -stop next -
generat ion trade and logistics ecosystem that connects players across the trade value chain in 
Singapore and abroad. The NTP will gradually replace TradeNet as the single platform for permit 
application. With the NTP, an approved TradeNet import permit can be dir ectly returned in structured 
data format to the trader, who can reuse the data for other services transactions with Singapore WT/TPR/M/413/Add.1  
 
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  Customs or the trader's business partners, thus cutting costs and expediting processes. Currently, 
both TradeNet and NTP operate i n parallel.  
Questions ： 
13. Please specify the reason that NTP gradually replaces TradeNet.  
Response 13 : The Networked Trade Platform (NTP) is a one -stop trade and logistics ecosystem 
which allows players across the trade value chain to digitally connect and u ndertake domestic and 
cross-border regulatory trade processes. To allow digital data reuse across the various trade -related 
transactions on the NTP, the TradeNet is integrated within and accessible via the NTP, where it 
serves as the central clearing house  for submitting and processing all permit and trade document 
applications digitally.  
14. How does the NTP facilitate the permit application?  
Response 14:  The Networked Trade Platform (NTP) is a one -stop trade and logistics ecosystem, 
which allows players acros s the trade value chain to digitally connect and undertake domestic and 
cross-border regulatory trade processes. To allow digital data reuse across the various trade -related 
transactions on the NTP, the TradeNet is integrated within and accessible via the NTP, where it 
serves as the central clearing house for submitting and processing all permit and trade document 
applications digitally.  
15. Please provide more information about the permit application procedure on NTP 
platform.  
Response 15 : The Networked Trade Platform (NTP) is a one -stop trade and logistics ecosystem 
which allows players across the trade value chain to digitally connect and undertake domestic and 
cross-border regulatory trade processes. To allow digital data reuse across the various trade -related 
transactions on the NTP, the TradeNet is integrated within and accessible via the NTP, where it 
serves as the central clearing house for submitting and processing all permit and trade document 
applications digitally.  
For more information on the trade d eclaration procedure (including the permit application procedure) 
on TradeNet, you may visit the following website:  
https://www.custo ms.gov.sg/businesses/national -single -window/overview/what -you-need-to-
know -about -tradenet . 
Page 44, Para3.12  
Importers may apply for an advance ruling on customs valuation to Singapore Customs. A fee of 
SGD 165 is charged for each application. An advance r uling is valid for three years after the date of 
issuance, or until the date a provision of the Customs Act (including its subsidiary legislation) is 
repealed or amended to the extent that the repeal or amendment changes the way that provision 
applies to t he advance ruling, whichever comes earlier. The authorities indicate that there were no 
advance rulings issued during the review period.  
Question ： 
16. Except for advance ruling on customs valuation, will there any other advance rulings 
be charged?  
Response 16 : Applications for an advance ruling on classification and rules of origin are charged at 
a fee of S$75 each.  
Page 49, Para.3.29  
A number of  goods are subject to import licensing requirements, which can be either automatic or 
non-automatic depending on the product. Three categories of products are subject to automatic WT/TPR/M/413/Add.1  
 
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  import licensing: (i) mastering and replication equipment for CDs, CD -ROMs, VCDs, DVDs, and DVD -
ROMs; (ii) films, video tapes, and video games; and (iii) publications (books, magazines, other 
printed materials, and audio recordings). Table 3.6 lists the products subject to import prohibition 
or non -automatic import licences, and i dentifies the relevant legislation and government agencies 
administering the restrictions.  
Table 3.6 Goods subject to import prohibitions or non -automatic licensing  
Type of restriction/product  Legal basis  Administering agency  
Non-automatic import licensin g 
Chinese proprietary medicines （in Page 51 ） Medicines Act (1975)  HAS 
Question ： 
17. What does the "Chinese proprietary medicines" refer to?  
Response 17 : For the definition of the term "Chinese proprietary medicine", please refer to 
paragraph 2 of the Medicines (Traditional Medicines, Homoeopathic Medicines and other Substances) 
(Exemption) Order. Available at https://sso.agc.gov.sg/ . 
Page 55 -57 
3.47 In 2019 and 2020 combined, ESG facilitated over SGD 28 million in grants to help companies 
expand overseas, about SGD 1.5 billion in trade and financing loans, and insurance schemes covering 
SGD 1 billion worth of invest ment.  
3.54 Export finance and insurance are only available through private sector institutions.  
Question ： 
18. What are the differences between the ESG and private financial institutions ?  
Response 18 : Enterprise Singapore (ESG) is a government agency championi ng enterprise 
development. ESG does not directly provide debt financing to the enterprises. Instead, ESG 
encourages partner private financial institutions (called "participating financial institutions (PFIs)") 
to extend loans to enterprises through a risk -sharing mechanism. The interest rate of the loans is 
determined by the PFIs based on market practices.  
The PFIs are responsible for the credit assessment of eligible borrowers and extending the loans, 
and extending the loans based on their respective risk  and commercial considerations. In the case 
of a default, ESG will share the unrecovered loss with the PFI based on agreed risk -sharing rate.  
Page 58, Para3.63  
Certain tax incentives require no prior approval (such as the tax deduction for R&D), so compani es 
may avail themselves of these incentives when they file their annual tax returns, as long as they 
engage in qualifying activities. In many cases, however, incentives are subject to prior approval, 
and applicants must meet the requirements pre -establishe d by the relevant administering agency 
and the Ministry of Finance. Generally, to be eligible, companies are required to carry out substantive 
operations in Singapore and commit to certain levels of investment, expenditure, and skilled 
employment.  
Question ： 
19. Do foreign invested enterprises enjoy the above -mentioned tax incentives?  
Response 19:  Enterprises, irrespective of the nationality of their business owners, can enjoy these 
above -mentioned tax incentives as long as they meet the requirements.  WT/TPR/M/413/Add.1  
 
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  Page 58, Para3.64  
Most of the tax and non -tax incentive schemes reported in the previous Review remain in place (a 
few have lapsed). Some have been renamed or merged, while a few others have been introduced.  
Under the IDI, Singapore -registered companies that are co mmercializing IPRs arising from their 
R&D activities are entitled to a reduced tax rate (5% or 10%) on a percentage of qualifying 
intellectual property income. Effective on 1 January 2019, a new non -tax incentive scheme, the 
Resource Efficiency Grant for E nergy (REG(E)), provides co -funding of up to 50% of qualifying costs 
to Singapore -registered companies in the manufacturing sector to help them become more energy 
efficient and reduce carbon emissions.  
Question ： 
20. Are there any other incentive measures being  taken to encourage companies to be 
more energy efficient and reduce their carbon emissions?  
Response 20:  We have introduced targeted incentives for companies to adopt more energy efficient 
technologies, such as through the Resource Efficiency Grant for En ergy (REG(E)) and Energy 
Efficiency Fund (E2F) for manufacturing facilities and data centres. The funding support for adoption 
of energy efficient technologies under these schemes was also increased from the previous cap of 
30% to 50% of the qualifying cos ts in 2019.  
Page75, Para3.153  
Singapore was declared the most competitive economy in the world in the World Economic 
Forum's  2019 Global Competitiveness Report. It ranked 13th in the sub -criterion of innovation 
capability and 14th in business dynamism. The  2020 Global Innovation Index ranked Singapore first 
in the Asia -Pacific region and 8th overall. However, it noted that Singapore produced fewer creative, 
knowledge, and technology outputs - including patent, trademark, and industrial design filings by 
residents - than expected, considering its innovative investments.  
Question ： 
21. Please explain why "Singapore produced fewer creative, knowledge, and technology 
outputs - including patent, trademark, and industrial design filings by residents - -than 
expected, co nsidering its innovative investments"? Will the government consider to take 
any measure in this regard?  
Response 21 : Low enterprise awareness and capabilities relating to intangible asset 
(IA)/intellectual property (IP) protection and management is likely to be a contributing factor. To 
address this, the government will work closely with industry partners to build IA/ IP awareness and 
competencies amongst businesses, as well as increase businesses' access to IA/IP advisory and 
IA/IP-related services.  The government will also look to facilitate and streamline public -private 
research & development (R&D) collaborations so that the innovative capabilities of private sector 
enterprises can be strengthened.  
Page 77, Para.3.165  
Other amendments relate to pap erless filing, patent agent qualification and registration, fee 
reductions, and the acceptance of Chinese as a language for PCT international applications filed with 
IPOS as the Receiving Office.  
Question ： 
22. Will the follow -up retrieval and preliminary revie w of PCT international applications 
filed in Chinese be conducted in Chinese?  
Response 22:  For Patent Cooperation Treaty (PCT) international applications filed in Chinese, the 
international search report and the international preliminary examination report  will be established WT/TPR/M/413/Add.1  
 
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  in Chinese. Searches using Chinese keywords will be conducted, when deemed necessary, for all 
PCT applications, including those filed in English.  
23. How many PCT international applications in Chinese have been accepted by IPOS so 
far? 
Response 23:  IPOS started accepting Chinese as a language for search and examination for 
applications filed since 1 October 2016. To date, the international applications filed in Chinese and 
appointing IPOS as the competent International Searching Authority ( ISA) is not more than 5% of 
the total number of international applications appointing IPOS as the competent ISA.  
Page 79, Para.3.175  
In order to address the evolution of technology and the protection of creative works in the digital 
age, the Ministry of La w and IPOS undertook extensive public consultations in 2016 and 2017 and 
issued a comprehensive review of Singapore's copyright regime in 2019. 116 Wide -ranging changes 
were recommended, including restructuring and rewriting the Copyright Act in plain Engl ish, 
implementing a new copyright exception for text and data mining, and creating a new collective 
management organization licensing scheme. A draft bill was released for public feedback in 
February  2021.  
Question ： 
24. Please provide further information on the amendments to the copyright exception 
and the collective management organization licensing scheme?  
Response 24:  The new exception for text and data mining is an exception to the rights of 
reproduction and communication for all works and recordings of protected performances, for uses 
required as part of a technical process of using computational data analysis (i.e. the actual analysis, 
as well as any preparation of the data for analysis). These uses would cover text and data mining, 
but al so analytics and machine learning. The exception comes with safeguards to prevent abuse: for 
instance, the exception only applies in relation to copyrighted materials that have been lawfully 
accessed or obtained. The relevant provisions may be found at cla uses 243 and 244 of the Copyright 
Bill ( https://www.parliament.gov.sg/docs/default -source/default -document -library/copyright -bill-
17-2021. pdf). 
The new collective management organisation (CMO) licensing scheme seeks to introduce a 
framework for the regulation of CMOs, as there is currently no such framework in Singapore. The 
new framework will set minimum standards for CMOs in areas relating  to transparency, governance, 
accountability, and efficiency. Further information on the intended regulatory framework can be 
found in the 2020 Public Consultation on Proposed Licence Conditions and Code of Conduct for 
Collective Management Organisations ( https://www.mlaw.gov.sg/news/public -consultation -on-
proposed -licence -conditions -and-code-of-conduct -for-collective -management -organisations ), as 
well as at Part 9 of the Copyright Bill (link above).  
Page 81, Para 3.181  
Since the enactment of the Intellectual Property (Dispute Resolution) Act 2019, the Singapore High 
Court has exclusive jurisdiction over most types of IP infringement cases, passing -off cases, and 
declarations of non -infringement to provide greater certainty for right holders and limit potential 
forum -shopping. High Court (General Division) decisions may be appealed to the High Court 
(Appel late Division), and in certain circumstances to the Court of Appeal.124 See Table A3.3 for a 
summary of available remedies by IP right.  
Question ： 
25. Please introduce laws and regulations on foreign -related intellectual property 
disputes .  
Response 25 : Interna tional commercial disputes with no link to Singapore, including in personam 
IP disputes, can be heard by the Singapore International Commercial Court (SICC). Singapore also WT/TPR/M/413/Add.1  
 
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  provides a comprehensive suite of arbitration and mediation services, including for  intellectual 
property (IP) disputes. Singapore houses the only branch of the WIPO Arbitration and Mediation 
Centre outside of Geneva, and institutions such as the Singapore International Arbitration Centre 
(SIAC) and Singapore International Mediation Cent re (SIMC) can also take up IP -related disputes.  
In 2020, amendments were made to Singapore's Arbitration Act and International Arbitration Act to 
enhance Singapore's legal framework for international arbitration and make clear that IP disputes 
can be arbit rated in Singapore. The purpose was to promote the use of arbitration in IP disputes, 
and position Singapore as a choice venue for international IP disputes.  
Singapore has an open regime for international commercial arbitration and mediation, so parties 
have the freedom to engage lawyers and arbitrators of any nationality and use any governing law.  
Page 87, Para 4.32  
There are no limitations on foreign investments for electricity generation. Notwithstanding, the 
Electricity Act (Section 30B) and the Gas Ac t (Section 63A) require a "designated electricity/gas 
licensee" to give notice to EMA if a person holds 5% or more, but less than 12%, of the total equity 
interest in the licensee and to obtain EMA's approval if the equity interest reaches 12% and/or 30%. 
There is foreign participation in Singapore's GenCos.  
Question ： 
26. Please provide more information about the Electricity Act and the Gas Act, especially 
on the aspect of procurement.  
Response 26:  The Electricity Act was enacted in 2001 to create a competitiv e market framework 
for the electricity industry. It ensures the safety, technical and economic regulation of the 
generation, transmission, supply and use of electricity. It specifies that the efficient use of electricity 
by consumers and the economic effic iency and maintenance of such efficiency in the electricity 
industry should be promoted. The Gas Act was also passed in 2001 to establish a regulatory regime 
to ensure a competitive, secure and reliable gas supply to the industry and the public.  
Since then, the gas and electricity sectors have evolved. Both Acts were last amended in 2018 in 
order to enable more effective regulation of the gas and electricity markets, enhance the security 
and reliability of gas and electricity supply, protect criti cal infrastructure and enhance competition 
guidelines in relation to the electricity sector and the gas sector.  
The Electricity Act can be assessed at: https://sso.agc.gov.sg/Act/EA2001 , and the Gas Act ca n be 
assessed at: https://sso.agc.gov.sg/Act/GA2001 . 
Both the Electricity and Gas Acts do not cover procurement.  
Page 89, Para 4.40  
One of the seven strategies adopts a sectoral approach. The strategy "Dev elop and implement 
Industry Transformation Maps (ITMs)" is a key element of Singapore's overall economic strategy for 
all economic sectors. According to the authorities, the approach is not to pick winners, but to build 
strategic capabilities at the indust ry level to give enterprises and workers the best chance of 
succeeding in the open market. In this regard, ITMs were developed for 23 industries, tailored to 
address the industry's own challenges and opportunities. Together, the 23 ITMs cover about 80% of 
Singapore's GDP, and are organized into various clusters, to foster synergies across industries.  
Question ： 
27. How does the ITMs provide opportunities for enterprises and workers? Please 
provide some examples.  
Response 27:  Each ITM consists of a growth and com petitiveness plan, supported by strategies in 
the key pillars of productivity, jobs & skills, innovation, and trade and internationalisation. WT/TPR/M/413/Add.1  
 
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  Enterprises benefit from these strategies to grow and become more competitive, while workers will 
be equipped with  deeper skills that are relevant for the future economy.  
For example, the Precision Engineering ITM supports SMEs as they expand their capacity and create 
new solutions to enter regional markets. A Skills Framework has also been developed to help 
employers  and employees identify key skills and competencies for the sector.  
Page 91 -92, Para 4.52  
The share of financial and insurance services in gross value added grew from 12.5% to 14.1% 
between 2015 and 2019, a phenomenon common to both insurance services (fr om 2.1% to 2.3%) 
and to banking and other financial services (from 10.4% to 11.7%). This ratio rose to 15.7% in  2020 
(of which insurance: 2.8%), as financial and insurance services were less impacted by the COVID -19 
pandemic compared with other sectors in the economy…The contribution of financial services to GDP 
is one of the highest in the world, highlighting the importance of the sector for Singapore's economy 
and the role of Singapore as a regional, and even global, financial services hub.  
Question ： 
28. Please clarify Singapore's competitive advantages as a global financial services hub.  
Response 28:  Singapore is well placed to serve the fast -growing Asia Pacific economies and 
markets given our pro -business environment, excellent infrastructure, internationa l connectivity, as 
well as a highly skilled, cosmopolitan labour force.  
Page 125  
…LIS helps Singapore -based companies secure short -term trade financing lines by getting them 
insured against insolvency risks. Provides insurance to participating financial in stitutions to cover 
insolvency risks of the borrower.  
Question ： 
29. As mentioned, LIS covers insolvency risks of the borrower. Does LIS also cover other 
commercial risks of the borrower?  
Response 29:  LIS only covers the insolvency risk of the borrower. Commercial risks are excluded.  
PART II: QUESTIONS REGARDING THE GOVERNMENT REPORT  
Page10, Para3.10  
...Singapore rolled out the National IP Protocol in 2018, which sets out clear principles and guideline s 
for the management and commercialisation of IP generated from publicly -funded R&D  
Question ： 
30. Please provide more information about the "principles and guidelines".  
Response 30 : The National IP Protocol sets out principles to streamline and facilitate the transfer 
of intellectual property (IP) generated from publicly -funded research & development (R&D) to the 
private sector. It also contains guidelines on how agencies can collaborate with businesses in the 
private sector. One of the guidelines is that in pu rsuing commercialisation activities, agencies should 
bear in mind the objectives of value creation and value capture for Singapore.  
More information on the National IP Protocol, including the key principles, can be found at: 
www.ipos.gov.sg/resources/for -public -agencies/national -ip-protocol . 
 WT/TPR/M/413/Add.1  
 
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  ICELAND  
WTO Trade Policy Review  
1. What is the participation of women in the economy of Singapore?  
Response 1 : Singapore has a sizeable level of women participating in its economy. Our female 
employment rate for those aged 23 to 64 has risen from 66% in 2010 to 73% in 2020. More women 
are in Professional, Manager, Executive and Technician (PMET) occupat ions, from 50% to 59% of 
employed females from 2010 to 2020. Their earnings have also increased, as median income of full -
time employed females rose by about 34% in the last decade. More than half of women in the labour 
force now have at least tertiary -level education as well.  
2. Have specific barriers that limit women's participation in trade been identified?  
Response 2 : Singapore women have made great strides in terms of participation in trade and 
businesses. A key factor is the principle and practice of mer itocracy where both our women and men 
enjoy equal standing in school, at work and in society -at-large. Amidst the pandemic, Singapore's 
employment rate for females aged 25 -64 has remained relatively stable at around 73% in 2020. 
The incidence of retrenchme nt was about the same for men and women. We will continue our efforts 
to support women to remain in and progress in the workforce. In the longer term, we will support 
our women workers by providing more opportunities for them to train and upskill to remain  relevant 
in the workforce, especially as the retirement and re -employment ages are raised.  
3. Has Singapore implemented any specific measures to encourage women's 
participation in trade and promote women's entrepreneurship, or are such measures 
being develop ed? 
Response 3:  Singapore's trade policies are gender neutral and women have equal access to the 
programmes and assistance provided to enterprises. Singapore women have made significant strides 
in entrepreneurship and participation in trade. Singapore will  continue supporting our women 
workers by providing opportunities for them to train and upskill to remain relevant in the workforce, 
especially as the retirement and re -employment ages are raised and women have a longer life span.  
4. Are the effects of trade policy on women and men measured and monitored, and if 
so how?  
Response 4:  Singapore does not specifically track the effects of trade policy on women and men 
respectively.  
 WT/TPR/M/413/Add.1  
 
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  BRAZIL  
PART I: QUESTIONS REGARDING THE SECRETARIAT REPORT  
SUMMARY  
Page 7 (Para 3)  
In 2020, the COVID -19 pandemic dealt a severe blow to the Singaporean economy, as the 
containment measures and travel restrictions implemented to address the sanitary crisis, both at 
home and abroad, together with the fall in external dema nd and supply chain disruptions, exacted 
a heavy toll on economic activity.  
Questions:  
1. What were the main economic sectors/products of the Singaporean economy hit by 
the COVID pandemic?  
Response 1 : Since the start of last year, the COVID -19 pandemic has  caused massive economic 
disruptions around the world. The Singapore economy has not been spared, contracting by 5.4% in 
2020, its worst full -year recession since independence. Over the course of last year, the Singapore 
economy had to grapple with both de mand - and supply -side shocks. These included (i) the fall in 
external demand (including visitor arrivals) caused by the sharp slowdown in major economies, as 
well as global and domestic travel restrictions; (ii) supply chain disruptions caused by lockdowns  
and restrictions that curtailed economic activity in our trading partners; and (iii) the implementation 
of public health measures in Singapore to contain the domestic outbreak, including the Circuit 
Breaker measures implemented from 7 April to 1 June 2020 . 
The impact of COVID -19 on the Singapore economy in 2020 was variegated across sectors:  
(i) Tourism - and aviation -related sectors (e.g., accommodation and air transport) registered large 
double -digit declines in their value -added (VA) due to the plunge i n air travel and visitor arrivals 
amidst global and domestic travel restrictions.  
(ii) Likewise, consumer -facing sectors (e.g., food and beverage services, retail trade and land 
transport) saw significant declines in their VA due to the implementation of public health measures 
to contain the domestic outbreak.  
(iii) Labour intensive sectors like construction and marine and offshore engineering were adversely 
affected by manpower shortages due to the outbreak of cases in worker dormitories, as well as the 
requirement for safe management measures at construction w orksites and shipyards.  
(iv) By contrast, the manufacturing, finance and insurance, and information and communications 
sectors expanded. Growth in the manufacturing sector was driven by the electronics, biomedical 
manufacturing and precision engineering c lusters. Meanwhile, the expansions in the finance and 
insurance, and information and communications sectors were supported by healthy growth in the 
banking and insurance segments, and resilient enterprise demand for IT solutions, respectively.  
Quantitative  assessments of the impact of the COVID -19 pandemic on the Singapore economy were 
done through various estimation methodologies, including the use of input -output tables and time 
series regression analyses.  
2. Have the likely effects of the COVID -19 pandemic on the Singaporean economy been 
evaluated by simulations run through a computable general equilibrium - CGE model of 
any sort?  
Response 2 : Since the start of last year, the COVID -19 pandemic has caused massive economic 
disruptions around the world . The Singapore economy has not been spared, contracting by 5.4% in 
2020, its worst full -year recession since independence. Over the course of last year, the Singapore 
economy had to grapple with both demand - and supply -side shocks. These included (i) the fall in 
external demand (including visitor arrivals) caused by the sharp slowdown in major economies, as WT/TPR/M/413/Add.1  
 
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  well as global and domestic travel restrictions; (ii) supply chain disruptions caused by lockdowns 
and restrictions that curtailed economic activity in  our trading partners; and (iii) the implementation 
of public health measures in Singapore to contain the domestic outbreak, including the Circuit 
Breaker measures implemented from 7 April to 1 June 2020.  
The impact of COVID -19 on the Singapore economy in 2020 was variegated across sectors:  
(i) Tourism - and aviation -related sectors (e.g., accommodation and air transport) registered large 
double -digit declines in their value -added (VA) due to the plunge in air travel and visitor arrivals 
amidst global and d omestic travel restrictions.  
(ii) Likewise, consumer -facing sectors (e.g., food and beverage services, retail trade and land 
transport) saw significant declines in their VA due to the implementation of public health measures 
to contain the domestic outbre ak.  
(iii) Labour -intensive sectors like construction and marine and offshore engineering were adversely 
affected by manpower shortages due to the outbreak of cases in worker dormitories, as well as the 
requirement for safe management measures at construct ion worksites and shipyards.  
(iv) By contrast, the manufacturing, finance and insurance, and information and communications 
sectors expanded. Growth in the manufacturing sector was driven by the electronics, biomedical 
manufacturing and precision engineer ing clusters. Meanwhile, the expansions in the finance and 
insurance, and information and communications sectors were supported by healthy growth in the 
banking and insurance segments, and resilient enterprise demand for IT solutions, respectively.  
Quantit ative assessments of the impact of the COVID -19 pandemic on the Singapore economy were 
done through various estimation methodologies, including the use of input -output tables and time 
series regression analyses.  
3. If so, what were the major assumptions made in structuring this major 
macroeconomic shock?  
Response 3 : Since the start of last year, the COVID -19 pandemic has caused massive economic 
disruptions around the world. The Singapore economy has not been spared, contracting by 5.4% in 
2020, its worst full -year recession since independence. Over the course of last year, the Singapore 
economy had to grapple with both demand - and supply -side shocks. These included (i) the fall in 
external demand (including visitor arrivals) caused by the sharp slowdown in majo r economies, as 
well as global and domestic travel restrictions; (ii) supply chain disruptions caused by lockdowns 
and restrictions that curtailed economic activity in our trading partners; and (iii) the implementation 
of public health measures in Singapor e to contain the domestic outbreak, including the Circuit 
Breaker measures implemented from 7 April to 1 June 2020.  
The impact of COVID -19 on the Singapore economy in 2020 was variegated across sectors:  
(i) Tourism - and aviation -related sectors (e.g., acco mmodation and air transport) registered large 
double -digit declines in their value -added (VA) due to the plunge in air travel and visitor arrivals 
amidst global and domestic travel restrictions.  
(ii) Likewise, consumer -facing sectors (e.g., food and bever age services, retail trade and land 
transport) saw significant declines in their VA due to the implementation of public health measures 
to contain the domestic outbreak.  
(iii) Labour -intensive sectors like construction and marine and offshore engineering  were adversely 
affected by manpower shortages due to the outbreak of cases in worker dormitories, as well as the 
requirement for safe management measures at construction worksites and shipyards.  
(iv) By contrast, the manufacturing, finance and insurance,  and information and communications 
sectors expanded. Growth in the manufacturing sector was driven by the electronics, biomedical 
manufacturing and precision engineering clusters. Meanwhile, the expansions in the finance and 
insurance, and information and  communications sectors were supported by healthy growth in the 
banking and insurance segments, and resilient enterprise demand for IT solutions, respectively.  WT/TPR/M/413/Add.1  
 
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  Quantitative assessments of the impact of the COVID -19 pandemic on the Singapore economy were 
done through various estimation methodologies, including the use of input -output tables and time 
series regression analyses.  
Page 7 (Para 5)  
Throughout the review period, Singapore recorded a substantial current account surplus, averaging 
16% of GDP in 2016 -20, on account of large surpluses in the merchandise trade balance. Given its 
strong external position and its status as an international financial hub, Singapore has accumulated 
sizeable foreign reserves, which amounted to USD 362 billion in 2020.  
Questi on: 
4. What is the relative position of Singapore amongst other surplus countries in the 
world economy and how does this strategy of accumulating huge amounts of forex 
reserves fit into its overall macroeconomic policy?  
Response 4 : Singapore's current account  (CA) surplus, at an average of 16% of GDP over 2016 –
20, is one of the highest in the world. However, in absolute US dollar terms, Singapore's CA surplus 
is considerably smaller than several other advanced economies.  
As in most advanced economies, Singapo re's seemingly high national savings (relative to 
investments) is driven largely by long -term structural factors such as the evolving level of economic 
development and demographic trends. Reflecting its stage of economic development, Singapore's 
investment  needs have declined over time, while savings have been high due to the accumulated 
savings of the working age population.  
However, Singapore's CA surplus position is expected to decline over time as the population ages 
(Singapore is one of the fastest ag eing populations in the world). Indeed, Singapore's CA surplus 
has been on a gradually declining trend since 2007, due in part to an increase in social and age -
related spending. Moreover, given climate change, public expenditures to combat its effects will  
increase significantly.  
As Singapore operates an exchange -rate monetary policy framework, changes in MAS' official foreign 
reserves are primarily a by -product of monetary policy. The sole objective of Singapore's monetary 
policy is to ensure domestic price stability over the medi um term. The choice of exchange rate as 
the monetary policy instrument stems from its effectiveness in containing inflation, given that gross 
trade is well over three times that of GDP, and over 40% of domestic demand is imported.  
Amid an environment of s urplus global liquidity since the Great Financial Crisis, MAS has generally 
had to lean against unwarranted appreciation pressure on the Singapore dollar, driven by large 
capital inflows. This FX intervention was necessary in order to maintain internal bal ance, as a 
significantly stronger Singapore dollar exchange rate would have driven Singapore's inflation to 
excessively negative rates, and cause expectations to become unhinged.  
Most official assessments of Singapore's monetary policy stance, including by  the IMF, have 
consistently affirmed the appropriateness of the MAS' monetary policy settings in maintaining 
domestic price stability. MAS does not aim to accumulate a target level of official foreign reserves, 
even as a certain minimum level of reserves i s required to credibly defend the lower bound of the 
monetary policy band.  
Page 7 (Para 6)  
Singapore's exports are dominated by manufactured products (74% of total merchandise exports), 
with machinery and electrical equipment (notably electronic integrated  circuits) being the leading 
export items. Imports are also concentrated in manufactured goods, followed by petroleum and 
mineral products.  
Questions:  WT/TPR/M/413/Add.1  
 
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  5. Has the exportation of electronic integrated circuits by Singapore been hardly 
affected by the alleged b ottlenecks in the global/regional supply chain of the product that 
hampered its normal provision?  
Response 5:  Semiconductors have seen increased demand due to the acceleration of digitalisation 
and growth of end -use applications. Though this has resulted i n some instances of supply shortages 
for the manufacturers in Singapore, the overall impact has been limited as Singapore had worked 
with our companies to ensure business contingency plans were in -place.  
We also ensured that our port, airport and borders r emained open for the import/export of goods 
even during the height of the pandemic, which helped maintain strong supply chain connectivity.  
6. How significant was this problem to the Singaporean export sector?  
Response 6:  The overall impact has been limited a s Singapore had worked with our companies to 
ensure business contingency plans were in -place. We also ensured that our seaport, airport and 
borders remained open for the import/export of goods even during the height of the pandemic, 
which helped maintain s trong supply chain connectivity.  
7. What were the main official initiatives taken to overcome this problem?  
Response 7:  Singapore had worked with our companies to ensure business contingency plans were 
in-place. We also ensured that our seaport, airport and b orders remained open for the import/export 
of goods even during the height of the pandemic, which helped maintain strong supply chain 
connectivity.  
Page 9 (Para 16)  
According to the report written by the Secretariat, "Singapore does not have legislation on  
safeguards".  
Questions:  
8. Does Singapore intend to develop domestic regulations on the subject in the 
short/medium term?  
Response 8 : Singapore has no plans in the short/medium term to enact any safeguards legislation.  
9. If so, what would be the approach (WTO , WTO -plus...)?  
Response 9 : Singapore has no plans in the short/medium term to enact any safeguards legislation.  
10. How does Singapore regulate bilateral safeguards in the context of FTAs?  
Response 10:  As a firm supporter of free trade, Singapore seeks to min imise the use of trade 
remedy actions, including bilateral safeguard actions provided under FTAs. Singapore has not 
imposed any bilateral safeguard measures to -date, and does not foresee the need to do so.  
Page 9 (Para 18)  
According to the report, "Singapo re has notified the WTO that it does not maintain any subsidy 
notifiable under the Agreement on Subsidies and Countervailing Measures".  
11. Has Singapore continued not to provide specific subsidies even in the context of the pandemic?  
Response 11:  Singapore ha s continued to ensure that our pandemic -related support measures are 
consistent with the SCM Agreement.  
Singapore does not consider the pandemic -related measures to be specific subsidies under the SCM 
Agreement as they are available to companies in Singapore across different sectors, and open to WT/TPR/M/413/Add.1  
 
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  both local and foreign companies. They are also not contingent on the company's export performance 
or local content requirements.  
Singapore's incentive schemes are transparent and broad -based.  
12. If it has provided, which were the support programs implemented and to which 
sectors?  
Response 12:  Singapore has continued to  ensure that our pandemic -related support measures 
remained consistent with the Agreement on Subsidies and Countervailing Measures.  
Singapore does not consider these measures to be specific subsidies under the SCM Agreement as 
they are available to compan ies in Singapore across different sectors, and open to both local and 
foreign companies. They are also not contingent on the company's export performance or local 
content requirements.  
Singapore's incentive schemes are transparent and broad -based.  
13. Does Sin gapore intend to notify them in 2021 NFN and/or 2023 NFN?  
Response 13 : Singapore does not intend to notify these measures as we do not consider them to 
be specific subsidies under the SCM Agreement, as explained above.  
1 ECONOMIC ENVIRONMENT  
Page 12 (Para 1.3)  
Singapore has a large manufacturing sector, which accounts for 21.5% of GDP and 12.4% of 
employment. Electronical products, such as electronic integrated circuits, which contribute about 
20% to merchandise exports, and petrochemicals dominate the sec tor. Other thriving new activities 
include biomedical manufacturing, transport, and precision engineering.  
Question:  
14. Given the magnitude of the manufacturing sector in the Singapore economy, how to 
explain it in terms of the standard (common sense) view t hat sees its economy as a mere 
- though very important - commercial entrepôt and international financial hub in 
East Asia?  
Response 14 : Manufacturing and Services are the twin pillars supporting Singapore's economy. 
The services sector has been growing, pa rticularly in the financial space, and this continues to bolster 
our base of manufacturing activity. We expect our services sectors to propel our future growth. At 
the same time, we aim to maintain manufacturing at around 20% of GDP over the medium term, 
because the sector helps diversify our economy and provides good jobs (for example, the sector 
hired 450,000 people in 2020). COVID -19 has further underscored the importance of the 
manufacturing sector to Singapore. Performance of the biomedical, electronic s and precision 
engineering sub -sectors were bright spots in 2020 and this had also helped pull along other sectors 
such as logistics. We are committed to maintaining a strong manufacturing base in Singapore, 
through innovation, the adoption of Industry 4. 0 technologies, and other productivity -enhancing 
measures.  
Page 14 (Para 1.6)  
Given its position as a trading hub, Singapore has been exposed to international trade tensions in 
the last few years, and more recently, to the global economic downturn induced by the pandemic.  
Questions:  
15. Specifically, how did international trade tensions between the US and China hit the 
Singaporean economy?  WT/TPR/M/413/Add.1  
 
- 145 - 
 
  Response 15:  Given the integrated nature of global supply chains, trade tensions between countries 
not only have far -reachi ng impact on the quantity and composition of their trade with each other, 
but also on their trade with other countries.  
For example, international trade tensions among major economies, including the US and China, 
started to rise in early 2018. Over the 201 8 to 2019 period, US' share of imports from Singapore 
had stayed relatively constant. Similarly, China's share of imports from Singapore had remained 
relatively stable in 2018 and 2019, after an initial dip at the start of the trade tensions.  
Nonetheless, while the shifts in trade patterns were small at the overall level, larger shifts were 
found at the sectoral or product level. For instance, Singapore's exporters increased their share of 
the US market for selected plastic products. The shifts though were less clear for our exports of 
electrical machinery and equipment to the US. With China, Singapore's exporters saw an increase 
in China's import share for some chemicals, while our exports of electrical machinery and parts such 
as disc tapes lost import sha re. 
For this analysis, we did not use a CGE model.  
16. Which economic sectors/products of Singapore were most directly and indirectly 
affected by trade tensions between the US and China?  
Response 16 : Given the integrated nature of global supply chains, trade tensions between the US 
and China would have far -reaching impact not just on the quantity and composition of their trade 
with each other, but also on their trade with other countries.  
In the case of Singapore, since the start of heightened US -China t rade tensions in early 2018 until 
March  2020, the US' share of imports from Singapore had stayed relatively constant. Similarly, 
China's share of imports from Singapore had remained relatively stable in 2018 and 2019, after an 
initial dip at the start of t he trade tensions.  
Nonetheless, while the shifts in trade patterns were small at the overall level, larger shifts were 
found at the sectoral or product level. For instance, the US was found to have increased its share of 
imports from Singapore for plastic products and materials, except for plastic plates, sheets, film or 
foil (HS 3920). These included Singapore's exports of polymers of vinyl acetate or vinyl esters (HS 
3905).  
The picture was mixed for Singapore's exports of electrical machinery and equipment, as there were 
both gains and losses in Singapore's shares of US' imports for these products. While Singapore 
gained shares for products such as transmission apparatus for broadcasting (HS 8525) and electric 
sound or visual signalling apparatus ( HS 8531), Singapore's exports of electrical apparatus for 
switching and protecting electrical circuits (HS 8536) saw a deterioration in their share of US' 
imports.  
Meanwhile, Singapore's exports of petroleum and chemical products generally gained shares in  
China's imports of such products. In particular, China's import shares from Singapore for petroleum 
coke and bitumen (HS 2713), polyacetals, polyethers and epoxide resins (HS 3907) and metal 
pickling preparations (HS 3810) rose during this period. In comp arison, Singapore's exports of 
organic chemicals (HS 2923) saw a loss in import share in China.  
At the same time, Singapore's exports of edible preparations required for food manufacturing (HS 
2103) and electrical machinery and parts such as disc tapes (HS  8523) also registered a decline in 
China's import share.  
In summary, US -China trade tensions had resulted in both opportunities and competition for 
Singapore's exports. While Singapore's exporters increased their share of the US market for selected 
plasti c products, the shifts were less clear for the exports of electrical machinery and equipment. 
With China, Singapore's exporters saw an increase in China's import share for some chemicals, while 
our exports of electrical machinery and parts such as disc tap es lost import share.  
For this analysis, we did not use a CGE model.  WT/TPR/M/413/Add.1  
 
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  17. Have the likely effects on the Singaporean economy of international trade tensions 
between the US and China been evaluated in terms of simulations run through a 
computable general equilib rium - CGE model of any sort?  
Response 17 : Given the integrated nature of global supply chains, trade tensions between the US 
and China would have far -reaching impact not just on the quantity and composition of their trade 
with each other, but also on the ir trade with other countries.  
In the case of Singapore, since the start of heightened US -China trade tensions in early 2018 until 
March  2020, the US' share of imports from Singapore had stayed relatively constant. Similarly, 
China's share of imports from Singapore had remained relatively stable in 2018 and 2019, after an 
initial dip at the start of the trade tensions.  
Nonetheless, while the shifts in trade patterns were small at the overall level, larger shifts were 
found at the sectoral or product level. For instance, the US was found to have increased its share of 
imports from Singapore for plastic products and materials, except for plastic plates, sheets, film or 
foil (HS 3920). These included Singapore's exports of polymers of vinyl acetate or vinyl est ers (HS 
3905).  
The picture was mixed for Singapore's exports of electrical machinery and equipment, as there were 
both gains and losses in Singapore's shares of US' imports for these products. While Singapore 
gained shares for products such as transmission  apparatus for broadcasting (HS 8525) and electric 
sound or visual signalling apparatus (HS 8531), Singapore's exports of electrical apparatus for 
switching and protecting electrical circuits (HS 8536) saw a deterioration in their share of US' 
imports.  
Meanwhile, Singapore's exports of petroleum and chemical products generally gained shares in 
China's imports of such products. In particular, China's import shares from Singapore for petroleum 
coke and bitumen (HS 2713), polyacetals, polyethers and epoxide re sins (HS 3907) and metal 
pickling preparations (HS 3810) rose during this period. In comparison, Singapore's exports of 
organic chemicals (HS 2923) saw a loss in import share in China.  
At the same time, Singapore's exports of edible preparations required for food manufacturing (HS 
2103) and electrical machinery and parts such as disc tapes (HS 8523) also registered a decline in 
China's import share.  
In summary, US -China trade tensions had resulted in both opportunities and competition for 
Singapore's expor ts. While Singapore's exporters increased their share of the US market for selected 
plastic products, the shifts were less clear for the exports of electrical machinery and equipment. 
With China, Singapore's exporters saw an increase in China's import shar e for some chemicals, while 
our exports of electrical machinery and parts such as disc tapes lost import share.  
For this analysis, we did not use a CGE model.  
18. If so, what were the main assumptions made in structuring this macroeconomic 
shock?  
Response 18:  Given the integrated nature of global supply chains, trade tensions between the US 
and China would have far -reaching impact not just on the quantity and composition of their trade 
with each other, but also on their trade with other countries.  
In the case of Singapore, since the start of heightened US -China trade tensions in early 2018 until 
March  2020, the US' share of imports from Singapore had stayed relatively constant. Similarly, 
China's share of imports from Singapore had remained relatively stable in  2018 and 2019, after an 
initial dip at the start of the trade tensions.  
Nonetheless, while the shifts in trade patterns were small at the overall level, larger shifts were 
found at the sectoral or product level. For instance, the US was found to have inc reased its share of 
imports from Singapore for plastic products and materials, except for plastic plates, sheets, film or 
foil (HS 3920). These included Singapore's exports of polymers of vinyl acetate or vinyl esters (HS 
3905).  WT/TPR/M/413/Add.1  
 
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  The picture was mixed for S ingapore's exports of electrical machinery and equipment, as there were 
both gains and losses in Singapore's shares of US' imports for these products. While Singapore 
gained shares for products such as transmission apparatus for broadcasting (HS 8525) and electric 
sound or visual signalling apparatus (HS 8531), Singapore's exports of electrical apparatus for 
switching and protecting electrical circuits (HS 8536) saw a deterioration in their share of US' 
imports.  
Meanwhile, Singapore's exports of petroleum a nd chemical products generally gained shares in 
China's imports of such products. In particular, China's import shares from Singapore for petroleum 
coke and bitumen (HS 2713), polyacetals, polyethers and epoxide resins (HS 3907) and metal 
pickling preparat ions (HS 3810) rose during this period. In comparison, Singapore's exports of 
organic chemicals (HS 2923) saw a loss in import share in China.  
At the same time, Singapore's exports of edible preparations required for food manufacturing 
(HS 2103) and electr ical machinery and parts such as disc tapes (HS 8523) also registered a decline 
in China's import share.  
In summary, US -China trade tensions had resulted in both opportunities and competition for 
Singapore's exports. While Singapore's exporters increased t heir share of the US market for selected 
plastic products, the shifts were less clear for the exports of electrical machinery and equipment. 
With China, Singapore's exporters saw an increase in China's import share for some chemicals, while 
our exports of electrical machinery and parts such as disc tapes lost import share.  
For this analysis, we did not use a CGE model.  
Page 19 (Para 1.23)  
Also, in collaboration with the financial industry, the MAS put in place credit and insurance relief 
measures for indivi duals and SMEs, such as deferrals and flexible terms for payments of loans and 
insurance premiums.  
Question:  
19. How did the collaboration between MAS and the financial industry to respond to the 
COVID -19 pandemic unfold?  
Response 19:  In March 2020, with COVID -19 intensifying and containment measures introduced 
globally severely curtailing economic activity, MAS and the financial industry were cognisant that 
broad relief measures had to be rolled out promptly to affected SMEs and indiv iduals. Financial 
institutions also recognised their social responsibility to help affected customers recover as soon as 
possible. MAS therefore worked closely with the financial industry to design and announce the terms 
of the first relief package.  
As par t of the relief package, banks and finance companies granted payment deferrals to individuals 
and SMEs who faced short term challenges in servicing their loan instalments as a result of COVID -
19. Life insurers granted premium deferrals of up to 6 months an d general insurers provided interest -
free instalment plans to individuals and SMEs who similarly faced short -term challenges in servicing 
their policies.  
Ahead of the expiry of the first relief package, MAS worked with the financial industry on a set of 
extended support measures to help individuals and businesses transition to full loan repayments, 
which was announced in October 2020. The extended support measures provided further cashflow 
relief while requiring borrowers to make partial principal repayment s. 
As Singapore progresses in its vaccination efforts and transits to an endemic COVID -19 situation, 
loan repayments must start normalising so as to minimise debt accumulation. MAS hence does not 
expect a further extension of industry -wide support measures . Instead, borrowers and policyholders 
who are unlikely to be able to resume full loan instalment repayments and premium payments by 
the end of the relief periods are encouraged to approach their lenders and insurers early to work out 
longer term repayment  solutions.  WT/TPR/M/413/Add.1  
 
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  Further details on these measures can be found on MAS' website, at the following link: 
https://www.mas.gov.sg/regulation/covid -19. 
Page 23 (Para 1.33)  
Most of Singapore's merchandise tr ade is carried out with economies in Asia and Oceania, reflecting 
the country's participation in regional value chains and economic integration schemes; nonetheless, 
the shares of some trading partners outside this region have seen slight increases in the last few 
years.  
Questions:  
20. What are the major economic sectors/products in which the Singapore economy 
participates when global/regional value chains are accounted for?  
Response 20 : Backward participation in global value chains (GVCs) can be defined as the  ratio of 
foreign value -added (VA) embodied in an economy's exports to the economy's total gross exports. 
Based on this definition, the sectors in Singapore which have the strongest backward participation 
in GVCs are coke and refined petroleum (78.7% in 20 15), basic metals (53.0%), transportation and 
storage (48.8%) and non -metallic mineral products (48.7%).  
On the other hand, forward participation in GVCs can be defined as the ratio of domestic VA 
embodied in an economy's exports that are used as intermedi ate inputs in the importing country 
before reaching final consumers in a third economy, to the exporting economy's total gross exports. 
Based on this definition, Singapore has strong forward participation in GVCs in the areas of 
computer, electronic and op tical products (5.2% in 2015) and IT and other information services 
(1.8%).  
21. What are the major economic partners (exporters and importers) of the Singaporean 
economy in global/regional value chains?  
Response 21 : As a major trading hub, Singapore has extens ive trade links with many countries all 
over the world. In 2020, our largest trading partners (in terms of total value of trade) were China, 
Malaysia, the United States, the European Union, and Chinese Taipei.  
22. When the relative position of the Singaporean economy participation into 
global/regional value chains is accounted for is it mainly of a backward or forward linkage 
nature?  
Response 22 : Backward participation in global value chains (GVCs) can be defined as the ratio of 
foreign value -added (VA) embodie d in an economy's exports to the economy's total gross exports. 
Based on this definition, Singapore's backward participation in GVCs was 40.9% in 2015. This was 
higher than that estimated for Singapore's major trading partners, such as the US (9.5%), China  
(17.3%), Hong Kong (26.6%), and Malaysia (36.9%).  
On the other hand, forward participation in GVCs can be defined as the ratio of domestic VA 
embodied in an economy's exports that are used as intermediate inputs in the importing country 
before reaching fi nal consumers in a third economy, to the exporting economy's total gross exports. 
Based on this definition, Singapore's forward participation in GVCs was 20.9% in 2015. This was 
higher than that estimated for Singapore's major trading partners such as Hong  Kong (15.7%), 
China (17.5%) and Hong Kong (18.7%), but lower than that estimated for the US (22.2%).  
Page 25 (Para 1.37)  
FDI inflows into Singapore increased during the review period (except in 2018). They rose to USD 
92.1 billion in 2019, making the coun try the world's third largest recipient of FDI inflows.  
Question:  
23. Despite the increased influx of FDI during the review period and taking into account 
the effects of the COVID -19 pandemic, how did the flow of investments in areas relevant WT/TPR/M/413/Add.1  
 
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  to sustainable de velopment goals, such as education, health, infrastructure, food and 
renewable energy, behave?  
Response 23 : Singapore does not track the FDI inflows in relation to areas related to sustainable 
development goals, although we note that FDI inflow has increas ed in general, and into multiple 
sectors such as Construction, Wholesale and retail trade and Information and Communication.  
2 TRADE AND INVESTMENT REGIMES  
Page 34 (Para 2.26)  
During the review period, seven new agreements were signed: Singapore -Sri Lanka;  the 
Comprehensive and Progressive Agreement for Trans -Pacific Partnership (CPTPP); ASEAN -Hong 
Kong, China; Singapore -European Union; ASEAN -Japan; Singapore -United Kingdom; and the 
Regional Comprehensive Economic Partnership (RCEP). All of these agreements  entered into force 
during the review period for Singapore except for the RCEP Agreement. The Singapore -Turkey 
agreement, signed before the review period, also entered into force during the period.  
Questions:  
24. What are the major expected economic and social benefits to the Singapore 
economy resulting from its participation in the RCEP agreement?  
Response 24 : A key objective of the RCEP was to consolidate and simplify the rules and provisions 
of existing ASEAN -plus FTAs to form a common regional partner ship in Asia with ASEAN at the 
center. When implemented, there would be new opportunities for our businesses to explore based 
on a common set of rules for accessing market access in any of the 15 RCEP markets. These will 
include:  
i. Tariff elimination of a bout 92% of goods traded amongst the 15 countries.  
ii. Streamlined rules of origin, including regional cumulation rules to take advantage of regional 
supply chains.  
iii. Simplified customs procedures will allow greater flexibility to tap on preferential ma rket access 
benefits.  
iv. A more transparent approach to allow for greater business certainty for trade in services and 
investments.  
25. Were these major expected economic and social benefits quantified by simulations 
run through a computable general equilibri um - CGE model of any sort?  
Response 25 : No, Singapore did not use the CGE models to analyse the benefits of Singapore's 
Free Trade Agreements (FTAs). However, before Singapore engages in each trade agreement, we 
assess the economic benefits to Singapore h olistically, to ensure that the agreements align with our 
strategies.  
Singapore has a network of 26 FTAs. Having a network of FTAs strengthens Singapore's strategic 
relations and helps Singapore to maintain critical connectivity to markets especially durin g uncertain 
times. During the Covid -19 pandemic, we worked with our FTA partners to ensure that essential 
supplies such as food products continue to flow without tariff or quota restrictions or other trade 
barriers. Having FTAs in different regions also he lps our businesses to capitalise on opportunities 
around the world and support end -market or supply chain diversification of Singapore -based 
businesses.  
26. If so, what were the main assumptions made in order to structure the simulations?  
Response 26:  No, Singapore did not use the CGE models to analyse the benefits of Singapore's 
Free Trade Agreements (FTAs). However, before Singapore engages in each trade agreement, we 
assess the economic benefits to Singapore holistically, to ensure that the agreemen ts align with our WT/TPR/M/413/Add.1  
 
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  strategies Singapore has a network of 26 FTAs. Having a network of FTAs strengthens Singapore's 
strategic relations and helps Singapore to maintain critical connectivity to markets especially during 
uncertain times. During the Covid -19 pa ndemic, we worked with our FTA partners to ensure that 
essential supplies such as food products continue to flow without tariff or quota restrictions or other 
trade barriers. Having FTAs in different regions also helps our businesses to capitalise on 
oppor tunities around the world and support end -market or supply chain diversification of Singapore -
based businesses.  
3 TRADE POLICIES AND PRACTICES BY MEASURE  
Page 57 (Para 3.55)  
Under the Supplementary Budget for 2020, the Temporary Bridging Loan Programme was  put in 
place in March 2020, with a validity until 31 March 2021, to alleviate the cashflow needs of 
enterprises affected by the COVID -19 pandemic. In addition, several existing programmes were 
enhanced to help mitigate the economic impact of the pandemic.  
Question:  
27. Which programmes specifically were enhanced?  
Response 27: Some examples of existing programmes that were enhanced include:  
• Enterprise Financing Schemes (EFS) -Trade Loan and EFS -SME Working Capital Loan – These 
schemes provide enterprises with  better access to trade financing and working capital. We enhanced 
these through time -limited increases in the maximum loan quantum, and Government's risk -share 
proportion of loans issued by commercial banks  
• Wage Credit Scheme – This encourages employers  to share productivity gains with their employees 
by co -funding wage increases. We enhanced these through a time -limited increase in the co -funding 
ratio and qualifying gross wage ceiling.  
4 TRADE POLICIES BY SECTOR  
Page 82 (Para 4.5)  
Singapore accounted f or 1.4% of global oil consumption and 0.3% of world natural gas consumption 
in 2019. Its per capita gas consumption is relatively high (more than Japan's, and less than the 
United States'), notably due to the widespread use of air conditioners and to a siz eable 
manufacturing sector, which includes several refineries and petrochemicals facilities. Due to the 
COVID -19 pandemic, Singapore's total energy consumption declined by 3.3% in 2020.  
Questions:  
28. What is the major factors that explain the reduction in ene rgy consumption in 
Singapore last year?  
Response 28 : The reduction in energy consumption in 2020 was likely due to lower economic 
activities during the COVID -19 pandemic.  
We expect energy conservation and efficiency measures to also have a positive impact on reducing 
energy use over the years, with improvements in energy efficiency (EE) since the introduction of 
Energy Conservation Act (ECA). The effect of the enhanced ECA requirements on EE improvement 
rate can only be ascertained after the requirements co me into effect after 2021.  
29. Is it related to increased effectiveness in energy use or initiatives to make energy 
use more sustainable, besides the downward impact stemming from the COVID -19 
pandemic?  WT/TPR/M/413/Add.1  
 
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  Response 29:  The reduction in energy consumption in 2020 was likely due to lower economic 
activities during the COVID -19 pandemic.  
We expect energy conservation and efficiency measures to also have a positive impact on reducing 
energy use over the years, with improvem ents in energy efficiency (EE) since the introduction of 
Energy Conservation Act (ECA). The effect of the enhanced ECA requirements on EE improvement 
rate can only be ascertained after the requirements come into effect after 2021.  
Page 91 (Para 4.52)  
The s hare of financial and insurance services in gross value added grew from 12.5% to 14.1% 
between 2015 and 2019, a phenomenon common to both insurance services (from 2.1% to 2.3%) 
and to banking and other financial services (from 10.4% to 11.7%). This ratio r ose to 15.7% in 
2020 (of which insurance: 2.8%), as financial and insurance services were less impacted by the 
COVID -19 pandemic compared with other sectors in the economy.  
Question:  
30. What measures were taken by the Singaporean government, if any, to suppo rt the 
banking sector during the crisis caused by the COVID -19 pandemic?  
Response 30 : MAS introduced the MAS SGD Facility for ESG Loans, a funding -for-lending scheme, 
in April 2020. This aimed to support financial institutions (FIs) in providing loans to s mall and 
medium enterprises, in tandem with the Government's loan guarantee schemes. Under the loan 
guarantee schemes, the Government shared up to 90% of the risk on loans extended by FIs to 
SMEs, reducing the risk premium charged by FIs. MAS' facility com plemented this by providing low -
cost SGD funding to FIs for a tenor of two years, at a rate of 0.1% p.a. This translated to lower cost 
of funding for SMEs, including in the longer tenors. As at 31 March 2021, the facility lent S$11 billion 
to FIs, catalysi ng around S$17 billion of loans, and benefitting more than 22,000 companies.  
MAS also adjusted several regulatory requirements and supervisory programmes. For instance, 
banks were allowed to recognise more of their regulatory loss allowance reserves as ca pital and take 
into account the government's fiscal assistance and other relief measures in setting accounting loan 
loss allowances. The implementation of the final set of Basel III reforms and other non -urgent 
industry projects were also deferred so as to  reduce operational demands on banks and other FIs, 
allowing them to divert their resources to meet urgent needs of their customers.  
While the Government did not introduce any targeted fiscal support for the financial sector, FIs were 
able to benefit from economy -wide support measures in place, particularly the Jobs Support Scheme 
(a wage subsidy). In total, the financial services sector received S$1.8 billion of grants in 2020, or 
S$2.8 per dollar of value -added.  
Page 101 (Para 4.99)  
The regulatory approac h chosen by MAS for fintech is to facilitate innovation while managing risks. 
According to the authorities, this includes simplifying rules; selectively easing licensing criteria; 
providing guidance on new areas like cloud computing, robo -advisers, and dig ital tokens; adopting 
activity -based regulation right -sized to the risks posed, such as in the Payment Services Act; and 
allowing experimentation.  
Questions:  
31. What are the indicators used by MAS for selectively ease licensing criteria?  
Response 31:  MAS' re gulatory sandbox framework strikes a balance between innovation and 
regulation because it acknowledges that the full weight of regulations may be difficult to bear when 
experimenting with innovative financial products and services. The sandbox admission cr iteria are 
set out in the sandbox guidelines, including whether the proposed solution is technologically 
innovative and can bring new benefits.  WT/TPR/M/413/Add.1  
 
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  Depending on the experiment, MAS will provide the appropriate regulatory support by relaxing 
specific legal and regulatory requirements prescribed by MAS, which the sandbox entity will 
otherwise be subject to, for the duration of the sandbox. However, there are certain requirements 
that the sandbox will not relax, for example, requirements on the prevention of money  laundering.  
The sandbox will also include appropriate safeguards to contain the consequences of failure and 
maintain the overall safety and soundness of the financial system.  
Upon successful experimentation and on exiting the sandbox, the sandbox entity must fully comply 
with the relevant legal and regulatory requirements.  
32. What is the level of regulatory freedom provided for experimentation allowance?  
Response 32:  MAS' regulatory sandbox framework strikes a balance between innovation and 
regulation becaus e it acknowledges that the full weight of regulations may be difficult to bear when 
experimenting with innovative financial products and services. The sandbox admission criteria are 
set out in the sandbox guidelines, including whether the proposed solution  is technologically 
innovative and can bring new benefits.  
Depending on the experiment, MAS will provide the appropriate regulatory support by relaxing 
specific legal and regulatory requirements prescribed by MAS, which the sandbox entity will 
otherwise b e subject to, for the duration of the sandbox. However, there are certain requirements 
that the sandbox will not relax, for example, requirements on the prevention of money laundering.  
The sandbox will also include appropriate safeguards to contain the co nsequences of failure and 
maintain the overall safety and soundness of the financial system.  
Upon successful experimentation and on exiting the sandbox, the sandbox entity must fully comply 
with the relevant legal and regulatory requirements.  
Pages 106 (Pa ra 4.121 and Para 4.122) and 108 (Para 4.136 and Para 4.137)  
Questions:  
33. Can Singapore give more information regarding their licensing framework in the 
context of 5G networks?  
Response 33:  5G mobile network operators will have to obtain a Facilities -Based Operations (FBO) 
licence – the generic telecommunication licence for entities who wish to deploy and/or operate a 
telecommunication network/systems/facilities.  
The 5G mobile network operat ors are required to apply for the Public Mobile Network Licence from 
the Infocomm Media Development Authority (IMDA) to deploy 5G standalone mobile base stations 
across Singapore to provide 5G services to the public. FBOs are subjected to the annual licens ing 
fees requirement.  
34. How much state interference is to be implemented rapidly by 5G?  
Response 34 : IMDA requires 5G licensees to meet the relevant 5G nationwide commitments that 
the 5G licensees proposed as part of their 5G Call for Proposal (CFP) applica tion. 
35. What is the degree of state intervention in the acquisition of the equipment that will 
be used for the installation of the 5G, considering the high expectation of expansion of 
coverage (50% of Singapore by 2022)?  
Response 35:  IMDA requires the 5G ope rators to meet the relevant 5G coverage requirements as 
sets out in the 5G Call for Proposal (CFP) process. Regarding acquisition of 5G equipment, the 
government does not interfere with the 5G operators' decisions. The operators are free to 
commercially de cide on the types of equipment they wish to deploy, subject to the resilience 
requirements and other considerations set out in the CFP.  WT/TPR/M/413/Add.1  
 
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  36. Can either the FBO licences and/or SBO licences incentivize the development of the 
supply on the telecom market of the O pen-RAN model and the 5G standalone service 
architecture?  
Response 36:  Based on our understanding, Open RAN is still in the nascent and development phase. 
It may take a few more years before the market could better assess if Open RAN would potentially 
overturn the traditional RAN systems.  
37. If yes, how so?  
Response 37 : Based on our understanding, Open RAN is still in the nascent and development 
phase. It may take a few more years before the market could better assess if Open RAN would 
potentially overturn th e traditional RAN systems.  
Page 107 (Para 4.133)  
Questions:  
38. What is the regime for sharing infrastructure in urban spaces? As reported, the use 
of urban spaces by several players is encouraged to implement equipment at smaller 
distances, in attention to th e demands of the 5G.  
Response 38 : To facilitate both fixed and mobile network operators' ("MNOs") network deployment, 
including 5G, IMDA has put in place a Code of Practice for Info -communication Facilities in Buildings 
("COPIF"), which sets out the obliga tions of building owners to provide space and facilities and the 
requirements on the operators relating to the use of such space and facilities.  
Specifically for mobile deployment, IMDA requires building owners of developments, which are of 
certain size (i .e. residential development with more than 80 residential units and non -residential 
development with a mobile coverage area (i.e., areas which reasonably requires mobile coverage)), 
to provide certain amount of rent -free space to facilitate MNOs' deploymen t. Such space is to be 
shared between all the MNOs. Please refer to this link for more details on COPIF. 
https://www.i mda.gov.sg/regulations -and-licensing -listing/code -of-practice -for-info-
communication -facilities -in-buildings . 
39. Is the dispute settlement process equally necessary for resolving disputes regarding 
infrastructure sharing? Please, indicate the legal references , even considering that the 
establishment of the dispute resolution procedure does not waive the will of the agents.  
Response 39 : In general, telecom operators are not required to share infrastructure and each 
telecom operator is expected to build or lease  the infrastructure it requires.  
Any telecom operator who wishes to share the infrastructure belonging to another telecom operator 
is required to negotiate with the operator. If the parties are unable to reach a voluntary sharing 
agreement, the Requesting Operator can request for IMDA's assistance.  
Details of the process can be found in Chapter 7 (Infrastructure Sharing) of IMDA's Code of Practice 
for Competition in the Provision of Telecommunication Services (2012).  
Page 108 (Para 4.135)  
Questions:  
40. Does Singapore utilize new regulatory tools such as auto -regulation and/or co -
regulation to build their Codes of Practice, especially the abovementioned Code of Practice 
for Competition in the Provision of Telecommunication and Media Services and to 
incentivize  the compliance of the stakeholders?  
Response 40 : While compliance with the Codes of Practice is mandatory, IMDA does recognise that 
the telecommunications and media sectors are changing at a rapid pace. Where possible, IMDA will 
reduce regulation and enco urage industry co -regulation.  WT/TPR/M/413/Add.1  
 
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  There are various Codes of Practice that may be relevant, and these can be found in the website 
below:  
https://www.imda.gov.sg/reg ulations -and-licensing/Regulations/Codes -of-Practice . 
41. Can Singapore give more information about the legal and regulatory instruments 
used to promote fair and equitable competition in the telecommunications market?  
Response 41:  IMDA is empowered by the Telecommunications Act to issue the Telecom Competition 
Code, which is a Code of Practice prescribed for the telecoms industry in relation to competition 
regulation, including provisions on consumer protection, resource sharing, e nforcement procedures, 
interconnection and mergers and acquisition. Other regulatory instruments include licences and 
other Codes of Practice issued to operators for compliance.  
Page 108 (Para 4.137, 4.138, 4.139 and 4.140)  
There are the service -based operator (SBO) and the facility -based operator (FBO). It is 
possible to infere that operators of different licences do not compete with each other.  
Questions:  
42. Should the incumbent (dominant operator) make public his reference o ffer in 
computerized system, centralized by the State?  
Response 42 : The reference offers of both Dominant Licensees in Singapore namely, Singtel and 
NetLink Trust are published by IMDA on its website on the following websites:  
http://www.imda.gov.sg/regulations -and-licensing -listing/interconnection -and-access -
agreements/singtel -s-reference -interconnect ion-offer--rio. 
https://www.imda.gov.sg/regulations -and-licensing -listing/nationwide -broadband -network/netlink -
trusts -interconnection -offer-2017. 
43. What are the requirements that must be met by the applicant for the SBO licence 
and for the FBO's?  
Response 43:  The Info -communications Media Development Authority (the "Authority") will 
evaluate a Facilities -Based Operat or (FBO) licence application based on its merits. The Authority will 
take into account the following in its evaluation of the merits of an applicant's proposal:  
(a) vision of the applicant;  
(b) organizational structure and financial capability and strengt h of the applicant;  
(c) competition strategies of the applicant for the provision of services; technical soundness of 
the applicant's plans and technical capability to implement the plans;  
(d) commitments of the applicant in fulfilling its vision and plans ; and  
(e) any other relevant information provided by the applicant.  
While there is no limit in the number of FBO licences that IMDA can issue, there may be radio 
frequency spectrum or other resources and physical constraints that may limit the number of li cences 
available for certain networks and/or services. Applicants for an FBO licence shall be a company 
incorporated under the Singapore Companies Act, (Cap. 50). There are no foreign equity limits 
imposed on FBO Licensees.  
As for Services -Based Operations  (SBO) licences, the SBO (Individual) Licence will be granted if the 
Authority is satisfied with the applicant's ability to deliver its proposed service and its quality of 
service standards commitments. There are also no foreign equity limits imposed on SB O licensees. 
The Licensee shall be a company incorporated or a foreign company registered under the Singapore WT/TPR/M/413/Add.1  
 
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  Companies Act, Chapter 50. SBO (Class) licences may also be held by a Limited Liability Partnership 
(LLP) or a Limited Partnership (LP).  
Pls refer  to the website below for more information on FBOs and SBOs licenses:  
https://www.imda.gov.sg/regulations -and-licensing -listing/facilities -based-operations --fbo--
licence . 
https://www.imda.gov.sg/regulations -and-licensing -listing/services -based -operations --sbo--
licence . 
44. Is interconn ection mandatory or is it just encouraged?  
Response 44:  Licensees have a duty to interconnect with other Licensees. Interconnection may be 
either direct or indirect. IMDA generally will not involve itself in interconnection negotiations between 
Non-dominan t Licensees.  
PART II: QUESTIONS REGARDING THE GOVERNMENT REPORT  
2 RESPONDING TO THE COVID -19 PANDEMIC  
Page 3 (Para 2.4)  
Considering  the global and domestic economic situations, and heightened uncertainties especially 
arising from the trajectory of the COVI D-19 pandemic, the Ministry of Trade and Industry expects 
GDP growth for 2021 to come in at 4.0 to 6.0%. Performance and outlook for different economic 
sectors continue to be highly uneven. In this regard, the SGD 107 billion Emerging Stronger Budget 
annou nced in February 2021 focused on continued support for businesses and individuals as well as 
accelerating structural adaptations to equip businesses and workers with deep and future -ready 
capabilities. For example, the Emerging Technology Programme was int roduced to co -fund costs of 
trials and adoption of frontier technologies like 5G, Artificial Intelligence and trust technologies.  
Questions:  
1. Considering a post -pandemic scenario, is there a plan to continue designing public 
policies to support the most affected sectors of the Singaporean economy? If so, which 
ones?  
Response 1 : On top of broad -based support measures, the Government has been pro viding 
targeted support to sectors most affected by the pandemic, for example, aviation and tourism.  
As we emerge from the pandemic, recovery will be uneven across sectors, and we will need to 
calibrate measures accordingly. Our focus will also shift away  from immediate cost relief, towards 
restructuring and growth, in a manner that addresses the specific needs of each sector.  
2. Moreover, do these policies take into account the provision of long -term continued 
opportunities for companies and workers beyond t he COVID -19 pandemic?  
Response 2:  As outlined in our report, our policies have shifted away from providing immediate 
relief to mitigate the impact of the COVID -19 pandemic. We are now focusing on enabling companies 
and workers to emerge stronger beyond the  pandemic. We will also continue to provide workers 
with opportunities to upskill through various initiatives under our national SkillsFuture movement.  
3. How do these forward -looking policies fit into the global perspective of international 
cooperation amon g increased economic nationalism?  
Response 3 : As a small and open economy, Singapore has always recognised the importance of 
international cooperation, international trade, and integration between economies. In line with this, 
we continue to encourage our local businesses to internationalise and seek new opportunities. At WT/TPR/M/413/Add.1  
 
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  the same time, we are also strengthening our business ecosystem to ensure we remain a competitive 
place for international firms to conduct their business.  
Page 4 (Para 2.7)  
On the one hand , the Singapore manufacturing sector has shown great resilience, based on the 
strong demand for electronic goods from the international semi -conductor industry, backed by the 
flourishing 5G market. On the other hand, the service sector, most relevant contr ibutor to GDP and 
responsible for employing the vast majority of the labor market, was much damaged by the effects 
of the economic crisis. The dependence on the inflow of tourists, for both leisure and business, is 
evident.  
Questions:  
4. How to accelerate the  process of opening the country's borders to benefit the service 
sector, without jeopardizing the very safe levels of virus transmission experienced by 
Singapore since the beginning of the pandemic?  
Response 4 : Our pandemic management strategy seeks to ba lance facilitating inbound traveller 
flows while ensuring our public health remains a priority.  
With our domestic COVID -19 situation stabilising and our vaccination rate rising, Singapore will 
progressively relax some border measures in a safe and calibra ted manner to facilitate more inbound 
travel from more countries/regions. Some of these measures include: (i) resuming entry approvals 
for work pass holders and their dependants who have been fully vaccinated before arrival in 
Singapore; (ii) launching vac cinated travel lanes for vaccinated travellers without a need for 
quarantine from a few countries for a start, on a pilot basis; and (iii) allowing fully vaccinated 
travellers from lower -risk countries to serve shorter quarantine durations or from their ch oice of 
accommodation, subject to regular testing and other health protocols.  
5. Which tested innovative solutions put in place by the government and/or private 
sector resulted in profitable outcome to the service sector and retail businesses?  
Response 5:  While SMEs continue to face manpower and cashflow challenges as we gradually 
reopen our economic activities, Singapore recognises that greater support is needed to help 
companies strengthen productivity. Digitalisation is one of the key enabler s to boost companies' 
productivity and foster a more conducive work/ business environment for Singaporeans.  
In particular, the Productivity Solutions Grant (PSG), that was introduced in 2018, continues to assist 
businesses in their transformation journey and provide them with support for digital and automation 
solutions. Since then, more than 19,000 SMEs have adopted IT solutions and equipment to get 
ahead. The top sectors for PSG adoption include Retail, Building and Construction, Wholesale Trade, 
Food Se rvices (FS), and Services. Some of the more commonly adopted solutions by both the Retail 
and FS sectors include the enhanced retail management solutions and digital ordering solutions.  
Noting that some sectors like the FS and Retail sectors have been impa cted more severely by 
COVID -19 and require greater support, the Digital Resilience Bonus was launched as an additional 
incentive for digitalization during this COVID -19 period. It provides a one -time cash payout for FS 
and Retail enterprises that adopt dig ital solutions to improve their business processes, reach out to 
customers online and make data -driven business decisions. The bonus will also help companies uplift 
their digital capabilities so that they can adapt to safe management practices after the ci rcuit breaker 
period and be more productive and competitive.  
In addition, the Food Delivery Booster Package and the E -commerce Booster Package were rolled 
out during Circuit Breaker in 2020 and again during Phase 2 Heightened Alert in 2021. The package 
provided support for FS companies to diversify their revenue channels through food delivery and go 
digital with the subsidies provided. As food delivery becomes part and parcel of the new normal, the 
Food Delivery Booster Package places FS companies in a fir m footing for a resilient recovery as they 
gain new skills and platforms critical for long -term growth. To date, more than 10,000 FS 
establishments have benefited from the support. The E -commerce Booster Package supported SME 
retailers, who have little or no e-commerce experience, to start their business transformation by WT/TPR/M/413/Add.1  
 
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  selling online. The Package supports part of the cost for retailers to on -board e -commerce platforms 
for domestic and/or overseas markets and/or to conduct digital marketing campaigns. Thi s has 
enabled retailers to reach out to customers in Singapore and overseas via the digital channel.  
3 ECONOMIC OUTLOOK AND NAVIGATING RECOVERY  
Page 9 (Para 3.4)  
Building an economy fit for the future. In 2017, the Future Economy Council (FEC) was establis hed 
to (i) grow an economy that is vibrant, open, and connected to the world, and where trade 
associations and chambers (TACs), unions, enterprises, and individuals come together to harness 
opportunities; (ii) strengthen our enterprises through industry -specific transformation approaches 
to help them grow, innovate, and scale -up; and (iii) help Singaporeans to acquire and utilise deep 
skills, so as to pursue quality jobs opportunities in the future economy, and facilitate the building of 
a resilient and fle xible workforce. The FEC comprises members from diverse backgrounds, including 
the government, businesses, TACs, unions, institutes of higher learning, and training institutes. 
Notably, the FEC spearheaded the launch of 23 Industry Transformation Maps (ITM s), which are 
road maps to drive transformation of 23 sectors, covering about 80% of the Singapore economy. 
Each ITM consists of a holistic growth and competitiveness plan comprising strategies in key pillars 
such as: productivity, jobs and skills, innovat ion, and trade and internationalization.  
Question:  
6. Do the planned creation and utilization of deep skills take into account human capital 
acquisition losses during the COVID -19 pandemic? How do public policies plan to deal 
with this situation?  
Response 6 : The National Jobs Council was formed to oversee the design and implementation of 
the SGUnited Jobs and Skills Package, which provides jobs, traineeships and training opportunities 
to support Singaporeans amidst the economic impact of COVID -19. For example,  we rolled out the 
SGUnited Traineeships, as well as SGUnited Mid -Career Pathways and SGUnited Skills programmes 
to equip recent graduates and mid -career jobseekers with industry -relevant skills, and help them 
pivot to new job roles. This will help to redu ce the extent of human capital loss due to COVID -19, 
by transiting individuals from sectors which have been adversely affected to those which continue 
to grow and have good hiring demand.  
In the medium term, we will continue to place a special focus on hel ping mature mid -career workers 
transit to new careers and remain employable through the SkillsFuture Mid -Career Support Package. 
This package aims to ramp up placements of workers in their 40s and 50s through a range of 
reskilling programmes, which include s Career Transition Programmes by Continuing Education and 
Training (CET) Centres (conducted on a train -and-place modality) and Career Conversion 
Programmes.  
Page 9 (Para 3.5)  
As part of the FEC's work, the Emerging Stronger Taskforce (EST) was set up in May 2020 to identify 
systemic shifts arising from the COVID -19 pandemic; assess the impact of these shifts on the 
Singapore economy, and how they translate into challenges and opportunities; and provide 
recommendations on how Singapore should refresh, reim agine, or reset its economic strategies, to 
stay economically resilient and build new sources of dynamism in the post -pandemic world.  
Question:  
7. Did the Emerging Stronger Taskforce (EST) identify so far any significant systemic 
shift arising from the COVID -19 pandemic that could affect the financial sector?  
Response 7 : The EST identified six key shifts, brought about or accelerated by COVID -19, that 
Singapore needs to prepare for. These are relevant to all sectors across the economy, including the 
financial sector.  WT/TPR/M/413/Add.1  
 
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  1. A more fragmented global order, with growing tensions among the major powers in areas 
such as technology, finance, and trade.  
2. The consolidation of industries in response to the economic and financial implications of 
COVID -19, creating winners  and losers amongst countries, companies, and individuals.  
3. The reconfiguration of global supply chains and production, as countries and companies re -
evaluate their resilience and diversify operations.  
4. The acceleration of digital transformation and in novation, with the gains likely to persist well 
beyond COVID -19. 
5. Changing consumer preferences, with new demand for hygiene and health, virtual and 
contactless services, and alternatives to physical travel.  
6. An increased focus on sustainability, due to growing climate ambitions globally and the need 
for sustainable development.  
Page 10 (Para 3.9)  
In February 2021, Singapore's Electronic Transactions Act was enhanced to adopt the United Nations 
Commission on International Trade Law (UNCITRAL) Model Law  on Electronic Transferable Records 
(MLETR). This facilitates the use of electronic transferable instruments such as Bills of Lading, 
enabling trade including the shipping, finance and legal sectors to benefit from faster transactions, 
cost savings, and lo wered fraud risks.  
Question:  
8. What were the most significant regulatory changes that the Singaporean authorities 
needed to carry out in order to adopt the UNCITRAL MLETR?  
Response 8 : Singapore enacted the Electronic Transactions Act (ETA) to provide statuto ry certainty 
for contracts formed electronically.  
In adopting the MLTER, Singapore amended the ETA.  
For more details, Members may wish to refer to: https://www.imda.gov.sg/regulations -and-
licensing -listing/electronic -transactions -act-and-regulations . 
Page 11 (Para 3.12)  
Singapore has declared its commitment to transform its economy into a sustainable one, investing 
in low -carbon technologies  and renewable energy. Singapore has been developing the grounds to 
build a strong and sound green financial sector and intends to be an influential green finance hub, 
repeating its successful experience in the traditional global financial markets.  
Questio ns: 
9. What are some of the planned initiatives towards achieving this goal?  
Response 9 : MAS' Green Finance Action Plan covers a spectrum of initiatives across five prongs: 
(i) strengthen the financial sector's resilience to environmental risks, (ii) develop  green finance 
solutions, (iii) build knowledge and capabilities, (iv) support green FinTech innovation and (v) 
enhance data and disclosures.  
Some examples of planned initiatives include working with the industry to develop a taxonomy for 
Singapore -based f inancial institutions to identify and classify activities that can be considered green 
or transition, and supporting industry efforts to build the infrastructure for a liquid and transparent 
voluntary carbon credit market in Asia. MAS has also issued the E nvironmental Risk Management 
Guidelines, and will conduct a review later this year of financial institutions' progress in implementing WT/TPR/M/413/Add.1  
 
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  the guidelines, with a view to publish an information paper to share best practices and areas for 
improvement.  
More deta ils on these policies and initiatives can be found in MAS' Inaugural Sustainability Report 
2021.  
10. How mature is the plan to regulate the green financial system?  
Response 10:  MAS has issued guidelines on environmental risk management to all financial 
institutions.  
• The guidelines set out MAS' expectations for financial institutions to assess, monitor, mitigate 
and disclose environmental risks.  
• They apply to all financial i nstitutions across banking, insurance, and asset management. They 
cover environmental risks besides climate change – such as pollution, loss of biodiversity, and 
changes in land use.  
• An industry task force on green finance, convened by MAS, has issued a n implementation 
handbook, providing guidance on best practices in environmental risk management.  
MAS will conduct later this year a review of financial institutions' progress in implementing the 
guidelines, with a view to publish an information paper to s hare best practices and areas for 
improvement.  
11. Which institution/agency will be in charge of the regulation?  
Response 11 : MAS is the agency in -charge. MAS is incorporating environmental risk in our 
supervisory assessment of regulated financial institution s in Singapore. The Environmental Risk 
Management Guidelines issued last year set out MAS' expectations for financial institutions, to 
assess, monitor, mitigate and disclose environmental risks. MAS is also working towards conducting 
industry stress tests using a range of climate scenarios to further understand the risks posed by 
climate change to the financial system.  
12. How open will a future Singaporean green market operate for foreign stakeholders, 
in terms of licensing?  
Response 12 : As an international fi nancial centre in the heart of Asia, Singapore seeks to facilitate 
Asia's transition to a sustainable future. MAS is working to grow an ecosystem of green finance and 
green FinTech capabilities, and anchor international centres of excellence in green finan ce, financial 
institutions and providers of verification, review and rating services.  
Concurrently, we are working with other countries to facilitate inter -operability of green taxonomies, 
to support the expansion of cross -border green finance activity and  capabilities. There are no 
additional licensing requirements specific to green finance for players looking to operate here.  
Under the Green Economy pillar of the Singapore Green Plan 2030, Singapore seeks to grow as a 
leading centre for green finance in A sia. The Green Finance Action Plan was developed by the MAS 
in 2019 to (i) strengthen the financial sector's resilience to environmental risks, (ii) develop green 
finance solutions, (iii) build knowledge and capabilities, (iv) support green FinTech innovat ion and 
(v) enhance data and disclosures.  
Question:  
13. What are, if any, the preliminary results of the Green Financial Action Plan?  
Response 13:  Since the launch of MAS' Green Finance Action Plan in 2019, MAS has launched 
several key initiatives – this includes the US$2bn Green Investments Programme, Green & 
Sustainability -Linked Loan Grant Scheme, Environmental Risk Management Guidelines and Proj ect 
GreenPrint. MAS also supported the launch of the Singapore Green Finance Centre, a collaboration 
between the Singapore Management University and Imperial College Business School.  WT/TPR/M/413/Add.1  
 
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  The industry has been supportive of these initiatives. The Green Finance  Industry Taskforce (GFIT) 
issued in May 2021 a detailed implementation guide for climate -related disclosures by financial 
institutions; a framework to help banks assess eligible green trade finance transactions; and a white 
paper on scaling green finance in the real estate, infrastructure, fund management and transition 
sectors, and will launch a series of workshops to build capacity in green finance with support from 
its industry association partners.  
More details on these policies and initiatives can be found in MAS' Inaugural Sustainability Report 
2021.  
4 OPEN, FACILITATIVE AND INCLUSIVE TRADE INFRASTRUCTURE  
Page 12 (Para 4.5)  
The Association of Banks in Singapore, in close partnership with MAS, launched PayNow Corporate 
in August 2018, further extending  the capabilities of PayNow.  
Question:  
14. How does the partnership between the Association of Banks in Singapore and the 
MAS operate regarding the PayNow system?  
Response 14 : MAS has the mandate to develop the Singapore's financial services sector including 
establishing an "e -payments society". MAS worked with the Association of Banks in Singapore to 
implement PayNow to achieve this outcome. However, the Association of Banks in Singapore, the 
scheme owner for PayNow, is not an entity regulated by MAS for this service, as PayNow is not a 
payment system.  
More information on PayNow is on the ABS website on this page: https://www.abs.org.sg/consumer -
banking/pay -now. 
Page 12 (Para 4.6 ) 
More specifically , in the financial services sector, the MAS -supported API Exchange (APIX) is the 
world's first cross -border, open -architecture platform which enables financial institutions and 
FinTech firms to (i) connect to one another through an international marketplac e; (ii) conduct 
collaborative experiments in a bespoke sandbox amongst financial industry participants; and 
(iii) drive adoption of APIs for digital transformation and financial inclusion across the Asia -Pacific  
Question:  
15. What were the main challenges faced by the MAS during the implementation of APIX 
in Singapore?  
Response 15 : In the roll out of APIX, MAS, together with International Finance Corporation (IFC) 
and the ASEAN Bankers Association had the common goal of helping market players con nect with 
one another, design experiments collaboratively and deploy new digital solutions. While the objective 
was clear, designing and implementing a platform that serves the diversity of needs was not trivial. 
APIX was first launched as a minimum viable  product (MVP) in the latter half of 2018. The traction 
with this MVP was not too stellar across the industry. To improve on the platform, the APIX team 
went on to gather plenty of valuable feedback from regional users, industry partners, financial 
institu tions and FinTechs via workshops and events held. Feedback gathered helped AFIN pivot and 
chart out ways to improve the platform for a stronger product fit to market needs. To this date, APIX 
continues to regularly seek market and user feedback to further improve the platform. This has 
helped APIX grow to where it is today, with a global community of 600+ FinTechs and Financial 
Institutions on the platform.  
6 REGIONAL AND BILATERAL TRADE COOPERATION  
Page 14 (Para 6.2)  WT/TPR/M/413/Add.1  
 
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  Singapore has finalized two digital eco nomy agreements in 2020: one with Chile and New  Zealand 
in June; and another one with Australia two months later. Negotiations on an agreement with 
South  Korea have started last June.  
Questions:  
16. Could the Singaporean Delegation elaborate further on what a Digital Economy 
Agreement consists of?  
Response 16:  Singapore's Digital Economy Agreements (DEAs) seek to deepen Singapore's 
engagement and cooperation with our partners in wide ranging and critical aspects of the digital 
economy from paperless trade to a rtificial intelligence  
They complement our Free Trade Agreements (FTAs), but dive deeper into the issues related to the 
digital economy. Our DEAs aim to:  
(i) Align digital rules and standards and facilitate interoperability between digital systems;  
(ii) Support cross border data flows and safeguard personal data and consumer rights; and  
(iii) Encourage cooperation between Singapore's economic partners in nascent areas such as digital 
identities, artificial intelligence, and data innovation.  
17. What kind of co ncrete, practical benefits have such agreements been able to 
generate for the private sector?  
Response 17 : Concrete, practical benefits that our DEAs aim to achieve are as follows:  
i. Align digital rules and standards to facilitate end -to-end digital trade . For example, Paperless Trade 
and E -Invoicing provisions enable businesses to transact customs and commercial documents 
electronically, cutting down processing times and costs from manual errors.  
ii. Put in place rules that facilitate cross -border data f lows to allow businesses to operate more easily 
across borders. For example, businesses can consider and use cloud computing business tools and 
services, allowing them to expand their suite of tools and services easily and at scale.  
iii. Develop cooperati on in nascent digital areas such as data innovation to create opportunities for 
companies to experiment safely in a sandbox for new products and services.  
Page 14 (Para 6.8)  
The RCEP, signed on 15 November 2020, is the largest FTA to -date, comprising appr oximately 30% 
of global GDP and close to a third of the world's population. It builds on existing bilateral ASEAN 
agreements with its FTA Partners, providing a single rulebook and enhanced trade facilitation 
measures to help businesses take advantage of th e regional value chains.  
Question:  
18. What are, if any, the main expected spill -over effects of the RCEP over Singapore's 
other FTA?  
Response 18:  A key objective of the RCEP was to consolidate and simplify the rules and provisions 
of existing ASEAN -plus FTAs to form a common regional partnership in Asia. Moving forward, the 
RCEP would likely serve as a potential benchmark for reviews of existing ASEAN -plus FTAs as well 
as new FTAs.  
 WT/TPR/M/413/Add.1  
 
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  CHINESE TAIPEI  
PART I: REGARDING THE SECRETARIAT REPORT (WT/TPR/S/413)  
2.TRADE AND INVESTMENT REGIMES  
2.3 Trade Agreements and Arrangements  
2.3.2 Regional and preferential agreements  
Page31 (para2.20)  
Singapore is expanding the scope of its FTAs to include more issues of interest to businesses, such 
as e-commerce, intellectual property rights, competition, government procurement, and dispute 
settlement.  
Question:  
1. The Covid -19 pandemic has spurred the rise of the low -touch or contactless 
economy, which in turn has expedited the development of digital trad e, and has changed 
the economic operation model and the world trade structure.  
Would Singapore please elaborate on how it is going to expand its bilateral and 
multilateral economic and trade agreements, for instance, through expansion of the 
existing scope  or participants, so as to promote the prosperity of global and regional 
digital economy?  
Response 1:  The digital space has grown exponentially due to the COVID -19 pandemic. Singapore 
seeks to collaborate with a network of partners to shape digital trade rules and facilitate  economic 
opportunities in the global digital economy through, for example, Digital Economic Agreements 
(DEAs).  
The DEAs complement our bilateral Free Trade Agreements (FTAs), and multilateral agreements or 
initiatives, such as the on -going negotiations at the WTO JSI on E -Commerce. They seek to expand 
as well as deepen our engagement with partners on issues related to the digital economy including 
in emerging areas like digital identities, Artificial Intelligence, as well as more tradit ional trade issues 
like paperless trade. These agreements allow Singapore and our partners to  
strengthen trade rules where they already exist; and  
explore more customised collaborations in emerging digital areas.  
Singapore has already signed DEAs with Ne w Zealand, Chile, and Australia, while negotiations are 
ongoing with Korea and the UK. Singapore welcomes all like -minded countries to test new ideas with 
us, and to work together to develop progressive and forward -looking policies on digital trade and 
new technologies.  
In addition, we will continue to promote the regional digital economy by:   
Developing interoperable cross -border infrastructure across Asia.  
Working with our ASEAN counterparts to put in  place initiatives to facilitate trade and develop a 
single digital community.  
Facilitating digital trade and deepening G2G2B digital connectivity.  
4. TRADE POLICIES BY SECTOR  
4.2 Mining and Energy  
Page 83 (Para 2 -4) WT/TPR/M/413/Add.1  
 
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  The report by the WTO Secretariat mentions in the framework of the Paris Agreement, Singapo re 
committed to achieving net -zero emissions as soon as viable in the second half of the country in this 
context.  
Question(s):  
2. In addition to introducing a carbon tax in 2019, does Singapore plan any other 
specific approaches in order to achieve this goal? If so, please elaborate.  
Response 2 : Singapore's Long -Term Low Emissions Development Strategy (LEDS) is built on three 
thrusts .  
1. Transform our industry, economy, and society.  The industry sector will need to make the 
necessary adjustments, capture new business opportunities  and build up their competitive 
advantage to be best -in-class in global energy and carbon efficiency. The Government will 
also promote energy efficiency and conservation in every sector, identify new growth 
opportunities, spur innovation and drive behaviou ral change to achieve these 
transformations.  
2. Harness emerging technologies as they mature.  The Government is investing in research 
and development (R&D) to increase energy efficiency, harness renewable energy and 
decarbonise power grid, industries, and bui ldings. This includes emerging technologies 
currently still in the developmental phase, e.g. carbon capture, utilisation and storage 
(CCUS) and low -carbon hydrogen. The ability to realise a low -carbon future will depend on 
the maturing of such emerging tec hnologies.  
3. Pursue and leverage international collaborations.  Singapore will forge effective 
collaborations and partnerships with like -minded countries in areas such as carbon 
storage, energy imports via regional power grids and other innovative platforms, and 
leverage market -based mechanisms that support environmental integrity.  
Each thrust will contribute to Singapore's aspiration of halving its domestic emissions. All three 
thrusts will be pursued vigorously to achieve this aspiration.  
3. It is argued that EU companies take advantage of the CBAM mechanism to make EU -
locally made products have a level playing field with imported products. Countries have 
different views on the WTO -compatibility of EU CBAM practices. Please elaborate 
Singapore's view on this is sue and its following response to EU CBAM practices.  
Response 3 : We appreciate the European Union's rationale behind the Carbon Border Adjustment 
Mechanism (CBAM) proposal.  
Singapore is a strong supporter of multilateralism and global climate action. It i s important that any 
CBAM being developed is compliant with WTO rules and other international obligations, adheres to 
WTO principles and is not protectionist in nature. Otherwise, this would weaken the open and rules -
based global trading system.  
It is also  equally important that the proposed CBAM respects the principles and provisions of the 
United Nations Framework Convention on Climate Change (UNFCCC) and the Paris Agreement, such 
as to take into account the different national circumstances of other parti es, and to maintain an open 
and supportive international economic system.  
A positive trade policy agenda can help us achieve the win -win-win between facilitating trade, 
environmental protection and sustainable development. Everyone would benefit if we focu s on 
supporting an inclusive green economy. This includes the liberalisation of climate -friendly 
environment goods, services, and technologies (e.g. renewable and clean energy generation, 
cleaning and waste management) which can complement the UNFCCC effor ts to combat climate 
change.  
3 TRADE POLICIES AND PRACTICES BY MEASURE  
3.3 Measures Affecting Production and Trade  WT/TPR/M/413/Add.1  
 
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  3.3.7 Intellectual property rights  
3.3.7.9 Copyright  
Page 79 (Para 3.175)  
In order to address the evolution of technology and the protection of creative works in the digital 
age, the Ministry of Law and IPOS undertook extensive public consultations in 2016 and 2017 and 
issued a comprehensive review of Singapore's copyright regime in 2019. Wide -ranging changes were 
recommended, including restruc turing and rewriting the Copyright Act in plain English, implementing 
a new copyright exception for text and data mining, and creating a new collective management 
organization licensing scheme. A draft bill was released for public feedback in February 2021 . 
Question(s):  
Regarding "Computational Data Analysis (Text and Data Mining)", the copyright exceptions in the 
2021 Draft Bill:  
4. What was the background for drafting these copyright exceptions?  
Response 4:  Computational data analysis has become an important  tool to support research and 
development, innovation, and economic growth. However, Singapore's copyright regime did not 
provide certainty over the permissibility of text and data mining. At the same time, other jurisdictions 
such as Japan and the UK had already introduced similar exceptions.  
Singapore therefore introduced an express copyright exception for computational data analysis to 
provide certainty regarding the permissibility of such activities under Singapore's copyright regime, 
while providing tailored safeguards to prevent abuse.  
5. What comments did the right holders make about these copyright exceptions?  
Response 5 : While there was in general majority support for the proposed exception, creators and 
intermediaries (e.g. publishers) wer e split.  
On the one hand, some creators acknowledged the value of the knowledge that can be derived from 
the use of text and data mining, and related tools, and that such uses did not consume, trade on, 
or compete with the expressive value of the underlyin g content.  
On the other hand, those who disagreed tended to advocate market -based licensing solutions, and 
were often concerned about the potential for abuse in the absence of safeguards.  
A fuller overview of the responses received on this issue can be fo und in the 2019 Singapore 
Copyright Review Report.  
https://www.mlaw.gov.sg/news/press -releases/singapore -copyright -review -report -2019). 
6. According to draft ar ticle 233(2)(a), making reproductions for two purposes is 
allowed. What does the second purpose "preparing the work for computational data 
analysis" mean? Any further detailed definition or any examples?  
Response 6 : The second purpose, "preparing the work for computational data analysis", covers any 
copying and alteration of the work necessary to prepare it for computational data analysis. Such 
copying and alteration may be needed to convert unstructured raw data into structured and usable 
data, to standard ise data from multiple sources, or to convert data in an unusable format into a 
format that can be recognised and used. For instance, a researcher may need to scan physical 
documents and convert them into searchable text before applying text and data minin g techniques 
to those documents. Such preparatory work is not itself computational data analysis, but is an 
essential prerequisite for conducting computational data analysis, and is therefore also covered by 
the exception.  
PART II: REGARDING THE GOVERNMENT  REPORT (WT/TPR/G/413)  WT/TPR/M/413/Add.1  
 
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  6. REGIONAL AND BILATERAL TRADE COOPERATION  
DIGITAL ECONOMY AGREEMENT  
Page 13 (Para 6.2)  
The report explains DEAs aim to establish international rules, set benchmarks and align standards 
that will enable or enhance digital trade, par ticularly in the newer digital issues that have not yet 
been addressed in our existing FTAs. Besides, Singapore is currently negotiating its third DEA with 
Korea and hopes to conclude further agreements with other like -minded economies in future.  
Question( s): 
7. It is reported that Singapore has initiated negotiations on digital economy 
agreements with the United Kingdom, South Korea and Vietnam, and is discussing the 
possibility of signing the agreement with the European Union. What is the latest progress 
of the current negotiations?  
Response 7 : Singapore is currently negotiating DEAs with Korea and the United Kingdom (UK).  
More details can be found in the URLs below:  
 -Korea -Singapore Digital Partnership Agreement (KSDPA):  
https://www.mti.gov.sg/ -/media/MTI/Newsroom/Press -Releases/2020/06/22 -Jun-2020-
Singapore -and-the-Republ ic-of-Korea -launch -negotiations -on-Digital -Partnership -Agreement.pdf   
 -UK-Singapore Digital Economy Agreement (UKSDEA):  
https://www.mti.gov.sg/ -/media/MTI/Newsroom/Press -Releases/2021/06/Singapore -and-the-
United-Kingdom -Launch -Negotiations -on-Digital -Economy -Agreement.pdf   
As negotiations are still ongoing, timelines for the KSDPA and the UKSDEA have yet to be finalised.  
8. Are those countries who have a FTA with Singapore considered as priority for 
Singapore to negotiate and sign digital trade agreements?  
Response 8:  Singapore welcomes all like -minded countries to test -bed new ideas with us, and to 
partner Singapore to develop progressive and forward -looking policies on digital trade and new 
technologies.  
6. REGIONAL AND BILATERAL TRADE COOPERATION  
GREEN ECONOMY AGREEMENT  
Page 14 (Para 6.4)  
The report explains Singapore is also exploring Green Economy Agreements (GEAs) with like -minded 
trading partners.  
Question(s):  
9. Would Singapore please elaborate its thought s on the chapter structure of the Green 
Economy Agreement?  
Response 9 : Singapore is unable to share on the chapter structure as discussions on a Green 
Economy Agreement are preliminary at this time.  
10. With which country is Singapore currently negotiating an d signing?  WT/TPR/M/413/Add.1  
 
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  Response 10 : Singapore is currently exploring a Green Economy Agreement with Australia, with 
discussions at a preliminary stage.  
11. Also, what is the relevance between the Green Economy Agreement and the APEC 
Environmental Goods Agreement mentione d in this section?  
Response 11 : Facilitating trade in environmental goods would be one of the Green Economy 
Agreement objectives, and we foresee this complementing APEC's goal of advancing work on 
environmental goods. Nevertheless, the GEA would also aim to cover areas beyond environmental 
goods, such as green financing, carbon services, and low -carbon solutions.  
ADDITIONAL QUESTIONS FROM CHINESE TAIPEI  
PART I: REGARDING THE SECRETARIAT REPORT (WT/TPR/S/ 413) 
4 TRADE POLICIES BY SECTOR  
4.2 Mining and Energy  
Page 83 (Para. 4.9.) 
The carbon tax level and trajectory (post -2023) will be reviewed by 2022. To support companies 
during the transition, the Government is prepared to spend more than the expected carbon tax 
revenue of about SGD 1 billion in the fi rst five years to help companies, including small and medium -
sized enterprises (SMEs) and power -generation companies (gencos), improve their energy and 
carbon efficiency by adopting greener and cleaner technologies and practices. In addition to making 
changes in the energy sector, Singapore has taken action across the economy, such as switching to 
cleaner -energy vehicles and improving energy efficiency in buildings. To encourage energy efficiency 
in the industrial sector, the Energy Conservation Act was rev ised in 2017 to stipulate more energy 
management practices, which include minimum energy efficiency standards for common industrial 
equipment and systems.  
Question(s):  
1. Please indicate whether the support from carbon tax revenue of about SGD 1 billion 
apply  to foreign -invested companies experiencing the transition .  
Response 1:  Support under the incentive schemes is available to all companies that are willing to 
invest in worthwhile projects in their facilities located in Singapore that improve energy effici ency, 
as well as other forms of emissions reduction, and deliver the measurable and verifiable emissions 
abatement through those projects.  
2. Are the support prerequisites the same for both local and foreign -invested companies 
experiencing the transition?  
Response 2:  Support under the incentive schemes is available to all companies that are registered 
and located in Singapore. The quantum of su pport available to companies is linked to the total 
emissions abatement that is achieved. Higher levels of support may be given to projects that achieve 
more significant emissions abatement.  
4 TRADE POLICIES BY SECTOR  
4.2 Mining and Energy  
4.2.4 ELECTRICIT Y 
Page 86 (Para. 4.20.)  
Electricity consumption grew by 8.9% between 2015 and 2019. In 2018, the Energy Market Authority 
(EMA) launched the Genco Energy Efficiency (EE) Grant Call, which encourages gencos  to deploy 
equipment or technologies that are more energy efficient or competitive.  
Question(s):  WT/TPR/M/413/Add.1  
 
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  1. Will foreign entities be allowed to apply he Genco Energy Efficiency (EE) Grant Call?  
Response 1:  The Genco Energy Efficiency Grant Call (Genco EE Grant Call)  is for power generation 
companies that are operating combined -cycle gas turbines (CCGTs) in Singapore. Foreign entities 
can apply for the grant if they operate CCGTs in Singapore and meet the eligibility criteria.  
2. If yes, what are the substantial terms re garding foreign entities? Is there any 
differential treatment between foreign and domestic entities?  
Response 2:  The Genco EE Grant Call is for power generation companies that are operating 
combined -cycle gas turbines (CCGTs) in Singapore and the same elig ibility criteria applies to both 
foreign and domestic companies.  
 WT/TPR/M/413/Add.1  
 
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  THAILAND  
I. WT/TPR/G/413  
3. ECONOMIC OUTLOOK AND NAVIGATING RECOVERY  
3.3 Becoming a 'Bright Green Spark'  
Paragraph 3.11 -3.13 (Page 10 -11) 
Question  
1. In the economic outlook and navigation recovery section of document no. 
WT/TPR/G/413, it is stated that Singapore is aiming to become a 'Bright Green Spark' 
through creating a green finance ecosystem while striving to become a zero -waste nation. 
It would be appreciated if  Singapore could further elaborate on whether there is a work 
plan or roadmap to implement this initiative including the introduction of relevant laws 
and regulations. Also, are there any planned pilot sectors or industries targeted for this 
initiative?  
Response 1 : Singapore has launched the Singapore Green Plan 2030, which sets out a 
comprehensive road map towards sustainable development, a green economy, and net zero 
emissions. The financial sector plays a key role in the fight against climate change, and  can support 
the transition to a less carbon intensive economy and channel capital to green technologies and 
infrastructure.  
To support the development of a vibrant green finance ecosystem that can support Asia's transition 
to a low -carbon future, we have placed focus on the following four areas: (i) shaping the 
development of green taxonomies; (ii) promoting green finance solutions and markets; (iii) 
harnessing technology to enable trusted sustainable finance flows; and (iv) building knowledge and 
capabili ties in sustainable finance.  
In addition, the Zero Waste Masterplan outlines Singapore's aspiration to adopt a circular economy 
approach towards a zero -waste nation. It comprises a few strategies to achieve our goal: (i) 
regulatory interventions; (ii) infr astructure investment; (iii) industry development; (iv) research and 
development; and (v) outreach and engagement. This approach involves maximising the recovery 
of resources from waste.  
We will diversify and strengthen our waste management and recycling industry to close waste loops 
and transit to a circular economy. In particular, we will focus on building up local recycling capabilities 
for our three priority waste streams of electronic and electrical waste, packaging waste including 
plastics, and food waste. We will seek to forge partnerships with different stakeholders, including 
the business community, to bring in the necessary expertise to the local market.  
Paragraph 3.12 (Page 11)  
Question  
2. What are the key policies to strengthen the financial sector 's resilience to 
environmental risks and develop green finance solutions?  
Response 2:  MAS is incorporating environmental risk in our supervisory assessment of regulated 
financial institutions in Singapore. The Environmental Risk Management Guidelines set o ut MAS' 
expectations for financial institutions, to assess, monitor, mitigate and disclose environmental risks. 
MAS is also working towards conducting industry stress tests using a range of climate scenarios to 
further understand the risks posed by climate  change to the financial system.  
To develop green finance markets and solutions, MAS is supporting the growth of green bonds and 
sustainability -linked loans through grant schemes, and attracting green investment funds by 
providing them mandates for sustain able investment. MAS is also working with private sector 
partners to develop the ecosystem for trading carbon credits generated by nature -based solutions WT/TPR/M/413/Add.1  
 
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  in South East Asia, anchoring in Singapore Asia -focused sustainability research capabilities and 
worki ng with industry to build a pipeline of green finance professionals.  
More details on these policies and initiatives can be found in MAS' Inaugural Sustainability Report 
2021.  
4. OPEN, FACILITATIVE AND INCLUSIVE TRADE INFRASTRUCTURE  
- Helping SMEs adapt to the digital economy  
Paragraph 4.4 (Page 11)  
Question  
3. Besides the SMEs Go Digital program and the Grow Digital program, are there any 
other strategies to promote SMEs to utilize digital tools?  
Response 3:  The Singapore government pr ovides various forms of targeted support to SMEs to 
thrive in an increasingly digitalised economy. For example, we support and encourage the digital 
transformation of businesses with a range of initiatives that reduce the complexity of evolving 
technologie s, through the SMEs Go Digital Programme.  
For more information on the SMEs Go Digital programme, please visit 
www.imda.gov.sg/SMEsGoDigital . 
6. REGIONAL AND BILATERAL TRADE COOPERATION  
- Digital Economy  Agreements  
Paragraph 6.2 and 6.3 (Page 13 -14) 
Question  
4. According to sub para 6.2 -6.3 Digital Economy Agreements page 13, how SMEs can 
benefit from Singapore's Digital Economy Agreements?  
Response 4:  The DEAs seek to establish common frameworks and rules for digital trade that will 
enable businesses to connect digitally with their overseas partners more seamlessly.  
Businesses of all sizes, including SMEs, stand to benefit from the increased clarity and reduced 
transaction costs associated with seamless di gital transactions and inter -operable digital 
frameworks. SMEs will also benefit from increased business efficiency arising from greater digital 
adoption, as well as easier and trusted access to overseas markets.  
5. What are  the main criteria Singapore used in selecting partners for developing the 
Digital Economy Agreement? Will the DEA be used as the new approach towards 
establishing FTA with other countries? From Singapore's perspective, what are the most 
challenging issues  in negotiating the Digital Economy Agreement?  
Response 5  Singapore welcomes all like -minded countries to test -bed new ideas with us, and to 
partner with Singapore to develop progressive and forward -looking policies on digital trade and new 
technologies.  
The most challenging issues in negotiating DEAs relate to the fast -evolving nature of digital economy 
matters. Emerging digital areas, such as Artificial Intelligence and digital identities, are rapidly 
transforming consumer behaviour and business models. T hese are digital areas which are still 
developing, but which will benefit from international dialogue and alignment to avoid divergent 
domestic frameworks that are not interoperable.  WT/TPR/M/413/Add.1  
 
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  Singapore has thus taken a collaborative approach to our DEAs. For exampl e, as part of the 
Singapore -Australia DEA, Singapore has signed several Memorandum of Understandings (MOUs) 
ranging from trade facilitation, to digital identities and Artificial Intelligence. Likewise, Singapore is 
participating in several projects as part  of the Digital Economy Partnership Agreement (DEPA), 
including projects on the National Single Window project at APEC with Chile, and the International 
Connectivity System (ICS) with New Zealand.  
- Green Economy Agreements  
Paragraph 6.4 (Page 14)  
Questi on 
6. Referring to sub para 6.4 reported that Singapore is also exploring Green Economy 
Agreements (GEAs) with like -minded trading partners. It would be appreciated to explain 
that;  
1) How does Singapore consider or select trading partners to join Green Econ omy  
2) Is it necessary that the trading partners joining Green Economy Agreements should have FTA 
binding with Singapore?  
Response 6:  Singapore is keen to explore mutually beneficial Green Economy Agreements (GEA) 
with like -minded partners who are ready a nd keen to pursue an ambitious and comprehensive 
agreement. For existing FTA partners, GEAs can complement and further strengthen ongoing 
cooperation. The existence of an FTA with a potential GEA partner would help inform the eventual 
structure and coverag e of the GEA.  
II. WT/TPR/S/413  
SUMMARY  
Paragraph 18 (Page 9)  
Question  
7. Please provide more information on investment incentives for hi -technology 
investment and regional headquarter investment in Singapore.  
Response 7 : Incentives are mostly aimed at: enco uraging companies to invest in training and R&D; 
promoting investment in and adoption of new technologies; and supporting the development and 
capability of SMEs and start -up companies. Some incentives are also intended to promote the use 
of Singapore as a base from which to implement regional growth strategies and the 
internationalization of companies.  
Certain tax incentives require no prior approval (such as the tax deduction for R&D), so companies 
may avail themselves of these incentives when they file th eir annual tax returns, as long as they 
engage in qualifying activities. In many cases, however, incentives are subject to prior approval, 
and applicants must meet the requirements pre -established by the relevant administering agency 
and the Ministry of Fi nance. Generally, to be eligible, companies are required to carry out substantive 
operations in Singapore and commit to certain levels of investment, expenditure, and skilled 
employment.  
Please refer to the Secretariat Report - Table A3.1 Selected tax and  non-tax incentives, and SME 
support, 2020 (page 122).  
1. ECONOMIC ENVIRONMENT  
1.3 Developments in Trade and Investment  
1.3.1 Trends and patterns in merchandise and services trade  
1.3.1.2 Services trade  WT/TPR/M/413/Add.1  
 
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  Paragraph 1.35 (Page 24)  
Question  
8. As services trade significantly decreased in 2020, what services would the 
government prioritize to be developed in the post -pandemic?  
Response 8:  We are prioritising financial services, infocomm  and media, and business services, 
amongst other sectors. We will also continue to support sectors that have been severely affected by 
international travel restrictions, including by making further moves to reopen our borders in a 
cautious and step -by-step manner.  
2. TRADE AND INVESTMENT REGIMES  
2.3 Trade Agreements and Arrangements  
2.3.1 WTO  
Paragraph 2.15 (Page 29 -30)  
Question  
9. Singapore has worked with WTO members to remain connectivity of global trade 
and supply chain regard to the impact of the COVID -19 in 2020. As the global situation is 
slightly different, how will it affect Singapore's measure on trade agreements in 2 years?  
Response 9:  Singapore has always maintained an open, pro -trade position, and will continue to do 
so as we transition out of t he COVID pandemic.  
Singapore will double down on our connectivity and hub status for goods, data, and talent. As supply 
chains change, we will forge stronger partnerships and connections with major regional and global 
nodes and key new demand markets, thr ough a new generation of trade facilitation and multilateral 
frameworks.  
The pandemic has accelerated several economic trends, including digitalisation and supply chain 
resilience. In this respect, Singapore has been laying the foundations for our recover y and transition 
to a post -COVID world. We are taking steps to promote supply chain connectivity and resilience in 
the post -COVID era. One example of this is the SGTraDex platform, which helps to improve efficiency 
in the fragmented global supply chains th rough a common data highway. All parties across the 
supply chain, regardless of size, will be able to access this platform easily.  
3. TRADE POLICIES AND PRACTICES BY MEASURE  
3.2 Measures Directly Affecting Exports  
3.2.4 Export support and promotion  
3.2.4.1 Support for internationalization  
Paragraph 3.44 (Page 55)  
Question  
10. Will Singapore intend to adjust Enterprise Singapore (ESG) regulations to boost the 
domestic economy in the post -pandemic?  
Response 10:  Enterprise Singapore (ESG) does not use regula tions as a tool to boost domestic 
economy.  
To support SMEs during the pandemic, Singapore put in place a package of COVID -19 support 
measures across various areas such as digitalisation. These support measures have enabled our 
SMEs to ride through the pan demic, sustain their operations, and retain as many jobs as possible.  
Enterprise Singapore (ESG) helped SMEs to find new ways to adapt to new working arrangements 
and leverage digital technologies and tools to operate remotely. ESG offered broad -based supp ort WT/TPR/M/413/Add.1  
 
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  under the Productivity Solutions Grant (PSG) for COVID -related digital tools and solutions, and 
industry -specific support packages to help retailers and F&B establishments to onboard e -commerce 
and food delivery platforms. Such support served to encour age the adoption of digital tools during 
the pandemic.  
Paragraph 3.45 (Page 56)  
Question  
11. Please provide more details on the Market Readiness Assistance scheme which cover 
(1) form of financial assistance provided e.g. soft loan and/or grant (2) the period  of 
assistance (3) selection criteria for providing assistance to companies and (4) other forms 
of assistance provided under the scheme (if any) e.g. training and workshop arrangement 
for employers and employees, tax and/or non -tax incentives, business mat ching 
programs, etc.  
Response 11 : The Market Readiness Assistance (MRA) scheme provides grant support on a 
reimbursement basis, where companies are supported at 70%/80% of eligible expenses.  
Companies can be supported for a maximum period of 12 months for each project.  
The assistance provides companies with financial support to embark on overseas market promotional 
activities, overseas business development activities and overseas market set up activities when they 
venture into new overseas markets. For more  details, please refer to the MRA page available on 
ESG's website ( https://www.enterprisesg.gov.sg/financial -assistance/grants /for-local-
companies/market -readiness -assistance -grant ). 
12. How did the pandemic affect ESG financial support programs?  
Response 12:  In view of the challenges brought by the COVID -19 pandemic, several loan schemes 
under the Enterprise Financing Scheme (EFS) were temporarily enhanced, with higher risk -sharing 
by Enterprise Singapore (ESG) and larger maximum loan quantum allowed. This wa s to encourage 
more lending from participating financial institutions to support enterprises in meeting their financing 
needs to tide through the crisis, in areas such as working capital and trade finance. For example, 
the working capital loan scheme for S MEs were temporarily enhanced with increased risk -sharing 
(up to 90%) and higher loan quantum cap (up to S$1 million).  
To further alleviate the cashflow needs of the enterprises affected by the COVID -19 pandemic, the 
Temporary Bridging Loan Programme (TBLP ) was introduced in March 2020, encouraging 
participating financial institutions to extend bridging financing to viable enterprises, supported with 
enhanced risk -sharing from ESG (started with 90%, and tapered down to 70% after 1 year).  
The TBLP and tempor ary enhancements to EFS are scheduled to expire on 31 March 2022.  
3.3 Measures Affecting Production and Trade  
3.3.1 Taxation and incentives  
3.3.1.2 Tax and non -tax incentives  
Paragraph 3.60 and 3.67 (Page 58 -59) 
Question  
13. Regarding to paragraph 3.60 and 3.67, please provide more information on 
government support policies for startup in Singapore.  
Response 13:  Some measures that startups can benefit from are listed below. More information on 
these measures are publicly avail able on the Startup SG website ( https://www.startupsg.gov.sg ). 
 WT/TPR/M/413/Add.1  
 
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  Paragraph 3.62 (Page 58)  
Question  
14. What are measures of non -tax incentives which target to traders in green tourism 
products or responsible tourism activities?  
Response 14:  STB does not have any non -tax incentives which target traders in green tourism 
products.  
3.3.3 Sanitary and phytosanitary (SPS) requirements  
3.3.3.2 Food products  
Paragraph 3.98 (Page 64)  
Question  
15. According to Paragraph 3.98, whi ch stating that Pigs may be imported only from one 
farm in Indonesia and one in Malaysia. Dairy products from countries that are not free 
from Foot and Mouth Disease may be imported only if subjected to treatment in 
accordance with OIE guidelines, could Si ngapore please elaborate more on the sentence 
"only if subjected to treatment in accordance with OIE guidelines"? and will this condition 
also be applied to other food products such as live pigs and their meat?  
Response 15:  Dairy products from countries th at are not free from Foot and Mouth Disease (FMD) 
may be imported only if subject to treatment in accordance to OIE guidelines. The OIE guideline is 
Article 8.8.35 of the OIE Terrestrial Animal Health Code (TAHC) where the inactivation of FMD virus 
for mil k for human consumption can be done through the following procedures:  
i. A process applying a minimum temperature of 132oC for at least one second (ultra -high 
temperature), or  
ii. If the milk has a pH of less than 7.0, a process applying a minimum temper ature of 72oC for at 
least 15 seconds (high temperature – short time pasteurisation (HTST)), or  
iii. If the milk has a pH of 7.0 or greater, the HTST process applied twice.  
The OIE TAHC has separate recommendations for inactivation of FMD virus in meat. M eat and meat 
products imported from countries that are not free from FMD will have to undergo procedures as 
stipulated in Article 8.8.31 of the OIE TAHC, for inactivation of the FMD virus.  
Countries that wish to export live pigs to Singapore must be free from FMD virus.  
3.3.7 Intellectual property rights  
3.3.7.1 Introduction  
Paragraph 3.151 (Page 74)  
Question  
16. Since Singapore aims to be a hub for the intellectual property (IP) assets of ASEAN, 
what are the cooperated frameworks that will lead Singapo re and ASEAN IP assets to 
become a predominance compared to other regions?  
Response 16:  Singapore has established a network of work -sharing agreements to facilitate the 
use of a Singapore patent report to expedite patent prosecution in close to 40 jurisdic tions. These 
include bilateral Patent Prosecution Highway ("PPH") arrangements, the Global PPH, and the ASEAN 
Patent Examination Cooperation ("ASPEC") programme. Singapore has also established patent re -
registration programmes with Cambodia and Laos, and a  design recognition programme with 
Cambodia.  WT/TPR/M/413/Add.1  
 
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  Building intellectual (IP) capabilities and skills in ASEAN is important to support enterprise IP 
activities. Singapore works closely with ASEAN members on IP training and capability building 
activities, includi ng the setting up of a virtual ASEAN IP Academy, which will provide such activities 
in all ASEAN countries to enhance IP expertise in the region. In addition, Singapore is developing an 
enabling infrastructure that will allow businesses to unlock the value  of their IA/IP assets and support 
cross-border flows of these assets through transactions.  
3.3.7.6 Industrial designs  
Paragraph 3.168 (Page 78)  
Question  
17. It is noted that virtual designs of non -physical products are registrable in Singapore, 
could Singapo re provide more details of the registration procedure and the required 
documents or materials (if any) for this type of design?  
Response 17:  IPOS has launched a guideline for non -physical products to provide guidance on the 
registration of these designs. P lease refer to page 15 and 16 of the appended URL for the key 
application requirements.  
https://www.ipos.gov.sg/docs/default -source/resources -library/design/guidelines -and-useful -
information/registered -designs ---guidelines -for-non-physical -products -(nov-2020).pdf . 
4. TRADE POLICIES BY SECTOR  
4.3 Manufacturing  
Paragraph 4.43 (Page 89)  
Question  
18. As electronics is the largest industrial sector of Singapore's economy.  
- How does the semiconductor shortage affect the manufacturing sector in 2021?  
- How has the government managed and prepared for t he shortage?  
Response 18:  Semiconductors have seen increased demand due to the acceleration of digitalisation 
and growth of end -use applications. Though this has resulted in some instances of supply shortages 
for the manufacturers in Singapore, the overall  impact has been limited as Singapore had worked 
with our companies to ensure business contingency plans were in -place. We also ensured that our 
seaport, airport and borders remained open for the import/export of goods even during the height 
of the pandemi c, which helped maintain strong supply chain connectivity.  
4.4 Services  
4.4.1 Financial services  
4.4.1.4 Financial technology (fintech), e -payments and cryptocurrency regimes  
4.4.1.4.2 E -payments  
Paragraph 4.109 (Page 102)  
Question  
19. Since PayNow  cooperate platforms allows users to make international transactions, 
will the government consider an expansion of this operation overseas?  
Response 19:  PayNow Corporate allows business users to send and receive instant payments 
through use of their unique  entity numbers (UEN) as a proxy. The PayNow Corporate scheme is 
owned by the Association of Banks in Singapore (ABS), and MAS works closely with the ABS to 
ensure that the coverage of PayNow Corporate services is extended to a wide range of business WT/TPR/M/413/Add.1  
 
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  users  and use -cases. This includes the future use of PayNow Corporate to initiate and receive 
overseas business payments, which is being taken up in the context of the cross -border PayNow 
linkages we pursue with like -minded countries such as Thailand, vis -à-vis the recently -launched 
PayNow -PromptPay linkage.  
ADDITIONAL QUESTIONS FROM  THAILAND  
I. (WT/TPR/G/413)  
Question  
• What are the key incentives that can encourage companies in Singapore to adopt 
new technologies and invest in R&D and training including support the development of 
SMEs and start -up companies?  
Response 1:  Companies can tap on the following incentives to support the adoption of new 
technologies and investment in R&D and training.  
The Enterprise Development Grant (EDG), which suppo rts projects that help SMEs upgrade their 
business, innovate or venture overseas. For more information, please refer to 
https://www.enterprisesg.gov.sg/financial -assistance/grants/for -local-companies/enterprise -
development -grant/overview.  
The Productivity Solutions Grant (PSG), which assists businesses in their transformation journey and 
provide them with support for digital and automation solutions. For more information, please refer 
to http://esg -intranet.enterprisesg.gov.sg/BusinessKnowledge/Tools_Assistance/grants -
localent/Pages/Productivity -Solutions -Grant.aspx  . 
Schemes that startups can consider include Sta rtup SG Talent, Startup SG Founder, Startup SG 
Tech, Startup SG Accelerator, Startup SG Equity and Startup SG Infrastructure. More information 
on these measures is available on https://www.startupsg.gov.sg/ . 
3. ECONOMIC OUTLOOK AND NAVIGATING RECOVERY  
3.2 Strengthening our position as a critical node in the global value chain  
Paragraph 3.9 (Page 10)  
Question  
• Please provide more detail on How to digitalise the supply chain ecosystem? How to 
design the Public -Private Partnership? What kind of information and cost that public and 
private need to share for this system? What are the use cases?  
Response 2:  Singapore Trade Data Exchange (SGTraDex ) is a digital infrastructure that facilitates 
trusted and secure sharing of data between supply chain ecosystem partners. SGTraDex, created as 
a result of the Singapore Together Alliance for Action (AfA) on Supply Chain Digitalisation, aims to 
streamline information flows across the fragmented global ecosystem through a common data 
highway.  
SGTraDex represents a new type of public and neutral infrastructure in a digital era. SGTraDex 
allows for data connections to be made to a wide range of data contributo rs and data users across 
the world. The system is designed to be trusted and secure, scalable and interoperable, timely and 
accessible. This is to ensure legitimate and valuable interactions between contributors and 
consumers of data across systems, and st rong data governance. By being able to connect to local 
and global data systems, SGTraDex aims to become an end -to-end enabler of supply chain 
ecosystems in Singapore and globally. For easier accessibility, all parties across the supply chain 
should be abl e to "plug and play " through their existing systems to be connected to SGTraDex.  
More details on our public -private partnership through the Alliance for Action can be found at: 
www.emergingstronger.sg   WT/TPR/M/413/Add.1  
 
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  More de tails on the SGTraDex can be found at: www.sgtradex.com  
3.3 Becoming a 'Bright Green Spark'  
Paragraph 3.13 (Page 11)  
Question  
• What does Singapore government do to encourage people, local communities and 
firms leading towards a zero waste nation? What kin d of incentives or punishment needed 
to get all relevant stakeholders to cooperate?  
Response 3:  The Singapore government actively engages the people and community to build 
awareness and encourage behaviour change. For example, the nation -wide "Say YES to W aste Less " 
campaign increases awareness and encourages the public to take action to reduce food waste and 
excessive consumption of disposables. The Singapore government has worked with citizens to 
develop ways to reduce excessive consumption of disposables , and to promote the right recycling 
practices. The Singapore government also supports ground -up sustainability solutions through the 
S$50 million SG Eco Fund, including waste management solutions.  
Besides engaging the public, there  are regulations for producers to take more responsibilities to 
encourage waste reduction and enable nation -wide re -use and recycling. The Resource Sustainability 
Act has established an Extended Producer Responsibility (EPR) approach to our priority waste 
streams of electronics, food, and packaging and plastics. The EPR requires producers to collect and 
treat their products at end -of-life, encouraging them to account for environmental externalities. In 
addition to regulatory interventions, there are collabo rations with the industry to build capabilities 
in sustainable production. For example, the National Environment Agency and the Singapore 
Manufacturing Federation launched the Packaging Partnership Programme in March 2021, an 
industry -led programme that wi ll support companies to build capabilities in sustainable packaging 
waste management.  
6. REGIONAL AND BILATERAL TRADE COOPERATION  
- Digital Economy Agreements  
Paragraph 6.2 and 6.3 (Page 13 -14) 
Question  
• According to Digital Economy Agreements (DEAs), Wi ll Data Regulatory Sandbox 
open for Thai businesses (Thai commercial banks / Fintech Startups)? If it opens What 
are requirements for Thai businesses to participate with?  
Response 4:  While there is no standing data agreement with Thailand for sandboxes at the moment, 
Singapore would be happy to consider sandbox proposals for cross border data flows from Thai 
financial institutions. A possible way to proceed, from a ground -up industry perspective, is to have 
an exchange between the associations for banks in Thailand and Singapore . 
- Green Economy Agreements  
Paragraph 6.4 (Page 14)  
Question  
• Seeing that Singapore has a vision for a more ambitious level of trade liberalization, 
e.g. tra de rules and policies that address the needs of the green economy, are there any 
plans to impose trade measures in relation to environment in the future?   
Response 5:  Singapore continuously reviews our policies, including on trade and environmental 
sustain ability. In this vein, we had started exploring Green Economy Agreement (GEAs) with like -WT/TPR/M/413/Add.1  
 
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  minded trading partners. One key element of our GEAs is to facilitate trade and investment in 
environmental goods and services. This could include building on internat ional efforts to address 
tariff and non -tariff barriers on environmental goods and services.  
II. WT/TPR/S/413  
3. TRADE POLICIES AND PRACTICES BY MEASURE  
3.1 Measures Directly Affecting Imports  
3.1.1 Customs procedures, valuation, and requirements  
3.1.1. 2 Trade facilitation  
Paragraph 3.7 (Page 42)  
Question  
• Referring to TradeFIRST system, could Singapore please explain the criteria in 
classifying companies into different tiers i.e. basic, standard, intermediate, enhanced and 
premium?  
Response 6:  The cr iteria under the TradeFIRST scheme were formulated with reference from the 
World Customs Organisation 's SAFE Framework of Standards to Secure and Facilitate Global Trade 
(SAFE Framework). The 6 broad assessment categories are: Company Profile, Procedures a nd 
Processes, Security, Inventory Management, Compliance and Other Scheme -Specific requirements.  
Singapore Customs grants trade facilitation measures to the companies according to their 
classification under the TradeFIRST scheme, as determined by their abi lity to meet the relevant 
assessment criteria.  
3.2 Measures Directly Affecting Exports  
3.2.4 Export support and promotion  
3.2.4.1 Support for internationalization  
3.2.4.1.1 Free Trade Zones (FTZs)  
Paragraph 3.52 (Page 57)  
Question  
• Are these three private FTZ authorities considered as 100% private ownership or 
state -owned enterprise?  
Response 7:  The three private FTZ authorities operate on a commercial basis. The Singapore 
Government does not interfere with their business decisions and operations.  
• Please explain what are the requirements for obtaining a permission to operate 
business in FTZ? (Both local and foreign investors)  
Response 8 : Please refer to the respective websites of the three private FTZ authorities (as stated 
in Page 56 of the Secret ariat Report) for the relevant requirements.  
3.3 Measures Affecting Production and Trade  
3.3.2 Standards and other technical requirements  
3.3.2.2 Technical regulations  
Paragraph 3.75 (Page 60)  
Question  
• What criteria does ESG use to categorize product s as controlled goods and what 
criteria does ESG use in identifying obsolete goods for removal from the list of controlled 
goods?  WT/TPR/M/413/Add.1  
 
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  Response 9:  The risk level of Controlled Goods is reviewed regularly based on criteria such as the 
hazards posed and the likel ihood of incidents occurring. New products deemed to be of high risk can 
be added to the list of Controlled Goods, while Controlled Goods whose risk level drop to the medium 
and low risk thresholds can be removed.  
4. TRADE POLICIES BY SECTOR  
4.2 Mining an d Energy  
Paragraph 4.8 and 4.9 (Page 83)  
Question  
• Is Singapore's carbon tax policy consistent with the WTO rules? Will the carbon tax 
be applied to foreign trade; if yes, will it be considered as a trade barrier?  
Response 10:  The carbon tax is not impo sed on imports.  
Further details on our carbon tax can be found at:  
www.nccs.gov.sg/singapores -climate -action/carbon -tax/ 
www.nea.gov.sg/our -services/climate -change -energy -efficiency/climate -change/carbon -tax 
• Please provide more details on Singapore's carbon tax policy and carbon market in 
Singapore.  
Response 11:  
Singapore has not adopted an emissions trading scheme. Thus, Singapore 's carbon market 
comprises primarily of the trading of voluntary carbon credits. These credits are used by com panies 
to meet their voluntary corporate climate targets.  
Further details on our carbon tax can be found at:  
www.nccs.gov.sg/singapores -climate -action/carbon -tax/  
www.nea.gov.sg/our -services/climate -change -energy -efficiency/climate -change/carbon -tax  
4.4 Services  
4.4.2 Telecommunication services  
Paragraph  4.135 (Page 107 -108)  
Question  
• Regarding the drafting of a Code of Practice for Competition in the Provision of 
Telecommunication and Media Services in 4.135 of the secretariat reports, what are the 
criteria to identify Significant Market Player in medi a services? Does this code cover cross -
border OTT operators registered in Singapore? In case the operator of media services 
identified as SMP, what are the measures that SMP shall comply with in order to ensure 
competitive market ? 
Response 12 : In the asses sment to identify Significant Market Power (SMP), IMDA will take into 
consideration a range of factors such as market share, entry barriers and countervailing buyer 
power. IMDA has consulted the industry on the adoption of 50% SMP Presumption Threshold (do wn 
from existing 60% threshold for the media market under the Code of Practice for Market Conduct in 
the Provision of Media Services) for which a licensee is presumed to have SMP if its market share 
for the relevant market is in excess of 50%. IMDA is revi ewing feedback from the industry at this 
time. WT/TPR/M/413/Add.1  
 
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  The media licensee with SMP will be required to comply with the relevant provisions under the Code 
such as duties of dominant licensees, prohibition of abuse of dominant position and interconnection 
requirements to ensure that it does not engage in anti -competitive or discriminatory behaviour. All 
entities holding a media licence in Singapore will have to comply with the new Code.  
• In addition, please provide more details whether OTT service providers that offer 
comparable or substitutable telecom services, namely voice calls and text messaging, are 
included in the scope of SMP determination. Whether or not the OTT service providers are 
included in the SMP determination, it is apprecia ted to learn the fact if these OTT telecom 
services are subject to any measure at all.  
Response 13:  Currently, under the Code of Practice for Competition in the Provision of 
Telecommunication Services, OTT service providers offering telecom services via th e Internet are 
not required to obtain a licence from Singapore 's Infocomm Media Development Authority (IMDA) 
and the SMP and dominance obligations will not apply to them.  
However, IMDA recognises the popularity and growth of such OTT services and the impor tance of 
ensuring that the OTT market remains competitive, and that the consumers ' interests are protected. 
IMDA will continue to monitor the developments in the broader media landscape and review the 
need for regulatory intervention where appropriate.  
4.4.4 Maritime transport  
Paragraph 4.176 (Page 115)  
Question  
• What is the major reason for the national liner company Neptune Orient Line to be 
sold by Temasek Holdings to the French shipping group CMA -CGM in 2016?  
Response 14:  The Government does not dire ct or intervene in Temasek 's investment decisions. 
Temasek makes its investment decisions on a commercial basis. Temasek has stated the reasons 
for the sale on its website  
https://www.temasek.com.sg/en/news -and-views/news -room/statements/2015/statement -cma-
cgm-announces -a-pre-conditional -voluntary -general -). 
Paragraph 4.177 (Page 115)  
Question  
• What kind of incentives have been provided to major international shipping 
companies such as CMA -CGM, China COSCO and Ocean Network Express (ONE) for 
establishing  their corporate presence in Singapore?  
Response 15:  Please refer to paragraph 4.179 of the Secretariat Report for the list of maritime 
sector incentives.  
• What are the proportions of equity participation for the joint venture between PSA 
and foreign ship ping lines at Singapore's terminals?  
Response 16:  Equity participation is negotiated commercially between the port operator and 
potential partners (e.g. foreign shipping lines).  
• What kind of incentives have been provided to international shipping groups,  banks 
with shipping portfolios, shipbroking firms, marine insurance companies, and law firms 
with maritime practices established in Singapore?  
Response 17:  Please refer to paragraph 4.179 of the Secretariat Report for the list of maritime 
sector incentive s.  WT/TPR/M/413/Add.1  
 
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  Paragraph 4.178 and 4.179 (Page 116)  
Question  
• Could Singapore provide more elaborated details of supporting policy instruments 
to develop the maritime transport sector as indicated in para 4.178 and 4.179?  
Response 18:  Please refer to the websites below for further details.  
Maritime Sector Incentive: https://www.mpa.gov.sg/web/portal/home/maritime -
companies/setting -up-in-singapore/programmes -to-support -your-maritime -business/maritime -
sector -incentive . 
Withholding tax exemption on interest and related payments:  
https://www.mpa.gov.sg/web/portal/home/maritime -companies/setting -up-in-
singapore/programmes -to-support -your-maritime -business/with holding -tax-exemption   
Maritime Singapore Green Initiative: https://www.mpa.gov.sg/web/portal/home/maritime -
singapore/green -efforts/maritime -singapore -green -initiative   
Paragraph 4.180 and 4.181  (Page 116)  
Question  
• Could Singapore provide more elaborated details and working mechanism of the 
Maritime Cluster Fund (MCF) and the Maritime Innovation and Technology (MINT) Fund?  
Response 19:  Please refer to the following websites  
Maritime Cluster F und: https://www.mpa.gov.sg/web/portal/home/maritime -companies/setting -
up-in-singapore/developing -manpower/marit ime-cluster -fund-mcf  
Maritime Innovation and Technology Fund:  
https://www.mpa.gov.sg/web/portal/home/maritime -companies/research -development/Funding -
Schemes/mint -fund  
Paragraph 4.182 (Page 117)  
Question  
• Please provide more details on the Competition and Consumer Commission of 
Singapore (CCCS)? Is it a government agency?  
Response 20:  The Competition and Consumer Commission of Singapore (CCCS) is a statutory board 
under the Ministry of Trade and Industry. It administers and enforces the Competition Act (the Act) 
(Chapter 50B) and the Consumer Protection (Fair Tradin g) Act (Chapter 52B). In addition to 
investigating into and enforcing against practices that have an adverse effect on competition in 
Singapore, CCCS also represents Singapore in respect of competition matters in the international 
arena. In addition, CCCS has a statutory duty to advise government agencies on national needs and 
policies in respect of competition matters generally.  
More information on CCCS may be found at https://www.cccs.gov.sg/about -cccs  
• Could Singapore clarify the term "block exemption for liner shipping agreements 
under the Competition Act" and the full text of Singapore' s Competition Act?  
Response 21:  A block exemption is the exemption of a category of agreements from the section 
34 Competition Act prohibition (which covers anti -competitive agreements, decisions and practices). 
CCCS may make a recommendation to the Minister for Trade and Industry on the agreements that WT/TPR/M/413/Add.1  
 
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  qualify for a block exemption and the Minister may issue an order t o bring the block exemption into 
effect.  
Agreements should meet the criteria stipulated in section 41 of the Competition Act, namely:  
• The improvement of production or distribution; or  
• The promotion of technical or economic progress,  
while not:  
• Impos ing on the undertakings concerned restrictions not indispensable to the attainment of 
those objectives; or  
• Affording the undertakings concerned the possibility of eliminating competition in a substantial 
part of the goods or services in question.  
The fu ll text of Singapore 's Competition Act may be found at: https://sso.agc.gov.sg/Act/CA2004  
More information on the Block Exemption for Liner Shipping Agreements may also be found at: 
https://www.cccs.gov.sg/media -and-consultation/newsroom/media -releases/cccs -consults -on-
proposed -recommendation -for--block-exemption -order -for-liner-shipping -agreements -14-july-
2021. 
5. APPENDIX TABLES  
Table A3.1 Selected tax and non -tax incentives, and SME support, 2020  
(Page 124)  
Question  
• How many participants have been applied to the Startup SG Accelerator and Startup 
SG Tech? What kind of companies have been applied? Please provide more details on these 
two schemes?  
Response 22 : Startup  SG Accelerator (SSGA): In the past 6 years, ESG has supported over 40 
SSGA partners. More details on the SSGA are available on ESG 's website:  
https://www.startupsg.gov.sg/ programmes/4900/startup -sg-accelerator  . 
Startup SG Tech (SSGT): Previously known as Technology Enterprise Commercialisation Scheme 
(TECS)*, Startup SG Tech fast -tracks the development of proprietary technology solutions, and 
catalyses the growth of startu ps based on proprietary technology and a scalable business model. In 
the past 6 years, SSGT has supported over 100 Proof -of-Concept or Proof -of-Value projects, with a 
focus on growing startups in the deep tech space. More details on the SSGT are available on ESG 's 
website: https://www.startupsg.gov.sg/programmes/4897/startup -sg-tech. 
*The scheme was renamed in 1 May 2017 to SSGT.  
III. Other questions  
Question  
• Please provide Singapore 's point of view on how Singapore become the digital hub 
in ASEAN including business ecosystem, government revenue collection, and regulatory 
implementation?   WT/TPR/M/413/Add.1  
 
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  Response 23:  To facilitate Singapore 's digital transformation, the Government ha s outlined plans 
to transform our economy, government and society through the Digital Economy Framework for 
Action, Digital Government Blueprint, and the Digital Readiness Blueprint.  
Singapore has taken a proactive approach to lay the foundation infrastru cture to drive adoption of 
digital and smart technologies throughout the economy and society. The Government itself is 
undergoing a significant transformation in its service delivery through technology, and has outlined 
this effort in the Digital Governmen t Blueprint. This is a whole -of-nation effort, involving every 
government agency, our industry and businesses, and our people.  
To drive adoption of digital and smart technologies throughout Singapore, we have rolled out several 
Strategic National Projects , which are key enablers in our Smart Nation drive. One of these is the 
National Digital Identity (NDI) or Singpass, which is the foundational digital infrastructure that 
enables citizens and businesses to transact digitally in a convenient and secure mann er. Singpass is 
critical to Singapore 's digital transformation and in supporting the digitalisation of products and 
services in the business ecosystem. One of the services in NDI is Myinfo, which offers residents the 
ability to share government -verified da ta to businesses for form -filling purposes, with consent 
provided via Singpass.  
Similarly, Myinfo Business allows retrieval of verified data from corporate clients, saving time on 
business -to-business online transactions. This service has also been extend ed to private sector 
services like opening of a corporate utilities account and application of SME loans.  
Question  
• What are supporting measures that Singapore' s Government has provided to the 
maritime transport sector in order to minimize the adverse i mpact of COVID -19? 
Response 24:  For more information on the MaritimeSG Together Package, please visit:  
https://www.mpa.gov.sg/web/portal/home.  
WT/TPR/G/413  
3. ECONOMIC OUTLOOK AND NAVIGATING RECOVERY  
3.3 Becoming a 'Bright Green Spark'  
Paragraph 3.11 (Page 10 -11) 
Question  
• Please elaborate on direction/ implementation to achieve the carbon trading and 
services hub for the region. Does the said initiative implement in only in Singapore or in 
the ASEAN region?  
Response 25 : Singapore is interested in wor king with like -minded partners (including Thailand) to 
explore opportunities in carbon services and trading, and to support global and regional efforts to 
unlock the potential of nature -based solutions. For example, companies such as DBS Bank, Temasek, 
Singapore Exchange, and Standard Chartered are establishing the Climate Impact X (CIX), a global 
carbon exchange and marketplace anchored out of Singapore, which can further support the 
decarbonization agenda in the region.  
Efforts that Singapore is embarking  on include (i) capacity building, where Singapore works with 
international organizations and professional services firms to support corporates on understanding 
how to respond to climate risks; (ii) growing Singapore 's carbon services ecosystem, such as in  
carbon trading, project development, project financing; and (iii) increasing trust and credibility of 
carbon markets and nature -based solutions (NBS), by supporting research in NBS. e.g. by the 
National University of Singapore Centre for Nature -Based Clim ate Solutions which focuses on 
improving the environmental integrity and project credibility of NBS in the tropical context.  
 WT/TPR/M/413/Add.1  
 
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  INDIA  
Questions based on Government Report (WT/TPR/G/413)  
Page 3 Paragraph 2.4  
Background: Efforts by firms to internationalize were also supported through grants such as the 
Market Readiness Assistance Grant, as well as through partners and channels such as 
GLOBALCONNECT@SBF (Singapore Business Federation), an initiative which assists Singapore 
enterprises to inte rnationalize and deepen their presence in other markets. Businesses could also 
tap on capability -building grants focusing on forging partnerships amongst local and international 
enterprises, enhancing business processes through digital solutions, and suppo rting businesses to 
upgrade and innovate.  
Question: 1. Could Singapore please explain on the type of grant it provides and to which 
sectors does it provide these grants to deepen the presence of Singapore enterprise in 
other markets?  
Response 1:  The Market  Readiness Assistance (MRA) scheme provides grant support on a 
reimbursement basis, where companies are supported at 70%/80% of eligible expenses. Companies 
can be supported for a maximum period of 12 months for each project.  
The assistance provides compan ies with financial support to embark on overseas market promotional 
activities, overseas business development activities and overseas market set up activities when they 
venture into new overseas markets. For more details, please refer to the MRA page avail able on 
Enterprise Singapore (ESG)'s website ( https://www.enterprisesg.gov.sg/financial -
assistance/grants/for -local-companies/ market -readiness -assistance -grant ). 
Apart from the MRA scheme, ESG also offers the Enterprise Development Grant (EDG) to help 
companies grow and transform. It supports projects that help SMEs upgrade their business, innovate 
or venture overseas under three pillars: (i) Core Capabilities; (ii) Innovation and Productivity; and 
(iii) Market Access. For more information, please refer to the EDG page on ESG's website 
(https://www.enterprisesg.gov.sg/financial -assistance/grants/for -local-companies/enterprise -
development -grant/overview ). 
Page 13 -14 Paragraph 6.3  
Background: "Singapore has concluded two DEAs: (i) the Digital Econ omy Partnership Agreement 
(DEPA) between Singapore, Chile and New Zealand, and (ii) the Singapore -Australia Digital Economy 
Agreement (SADEA). The DEAs establish a framework for collaboration in digital trade issues, 
promote interoperability between differ ent regimes and address emerging trade policy issues 
brought about by digitalisation…"  
Question: 2. In furtherance of Singapore's transition to digital economy, are there any 
other laws and regulations that have been or are likely to be adopted by Singapor e to 
facilitate international agreement in digital trade as well to accommodate digital 
transition to economy?  
Response 2:  Singapore enacted the Electronic Transactions Act (ETA) to provide statutory certainty 
for contracts formed electronically.  
For more  details, parties may wish to refer to: https://www.imda.gov.sg/regulations -and-licensing -
listing/electronic -transactions -act-and-regulati ons  
Questions based on Secretariat Report (WT/TPR/G/413)  
Page 8 Paragraph 11  
Question: 3. Singapore is requested to provide an overview of limitations on foreign 
ownership and on business scope, and residency restrictions on strategic sectors.  WT/TPR/M/413/Add.1  
 
- 184 - 
 
  Response 3:  Singapore maintains restrictions in specific sectors for strategic reasons such as 
national security considerations. Existing restrictions, as well as relevant laws and regulations they 
derive from are clearly inscribed in the FTAs Singapore has concluded  with WTO Members.  
Page 9 Paragraph 17  
Questions: 4. What are the various Tax -incentives and financial support which Singapore 
provides to its locally based company to expand in overseas markets?   
Response 4:  Companies can tap on the following tax incentives to expand in overseas markets:  
• The Global Trader Programme (GTP) offers a concessionary tax rate of 5% or 10% on qualifying 
income from international trading activities. It is also intended to develop Si ngapore as a global 
trading hub. (note: GTP was already cited as example in the reference paragraph of the Secretariat 
Report)  
• Double tax deduction for internationalisation, which offers a tax deduction of 200% on qualifying 
expenses incurred on qualifyi ng market expansion and investment development activities.  
ESG encourages participating financial institutions (PFIs) to extend loans to enterprises through a 
risk-sharing mechanism. For instance, ESG provides risk -sharing to PFIs under the Enterprise 
Financing Scheme (EFS) , which in turn provide loans to enterprises, including financing costs 
associated with their expansion in overseas markets, such as working  capital , fixed asset 
investments, trade, project development, and merger and acquisition.  
Page 10 Paragraph 23  
Question: 5. Please provide the details of initiatives that were implemented to promote 
innovation and commercialization of Intellectual Property.  
Response 5:  Improving research and development (R&D) outcomes, including through intellectual  
property (IP) and technology commercialisation, is a key focus of Singapore's Research, Innovation 
and Enterprise 2025 Strategy. Singapore Intellectual Property Office (IPOS) works closely with other 
Government agencies on a range of initiatives to enhanc e IP commercialisation. These include:  
i. Developing the National IP Protocol ("NIPP"), which sets out principles to streamline and 
facilitate the transfer of IP generated from publicly -funded R&D to the private sector. For instance, 
the NIPP encourages pu blic agencies to actively manage their IP portfolio and to provide flexibility 
in IP licensing to enhance value capture.  
ii. Providing the Workforce for IP -Savvy Enterprises ("WISE") programme which is a structured 
initiative to help enterprises build thei r foundational intangible asset (IA)/IP knowledge and access 
preliminary IA/IP advice. Through the WISE programme, enterprises are equipped with the IP 
capabilities and the connections with service providers to support the effective commercialisation of 
their IA/IP.  
Page 14 Paragraph 1.8  
Background: As part of its structural reform agenda, the Government intends to gradually increase 
its local workforce, especially in areas where there are skills shortages, while maintaining "a 
measured dependence" on lowe r-skilled foreign labour. In the budgets for the most recent three 
fiscal years, a plan for reducing reliance on foreign workers at the lower - and mid -skilled levels was 
announced, which is being implemented in phases from 2020 to 2023. At the same time, t he policy 
with respect to the foreign workforce was adjusted in FY 2020 to support the inflow of higher skilled 
foreigners.  
Question: 6.  What are the measures taken by Singapore to reduce their dependence on 
foreign workers at the lower and mid -skilled lev els? What are the measures taken by 
Singapore as part of their policy with respect to the foreign workforce adjusted in FY 2020 
to support the inflow of higher skilled foreigners? Could Singapore provide trends/data 
on foreign workers (Indian) at the lower , mid and high -skilled levels operating in 
Singapore over the last 5 years.  WT/TPR/M/413/Add.1  
 
- 185 - 
 
  Response 6:  The work pass salary criteria is updated from time to time in the light of prevailing 
conditions. We also strengthened the Fair Consideration Framework, which encourages fair 
employment practices that are open, merit -based, and non -discriminatory. The cha nges are meant 
to promote greater awareness in mid -skilled jobs to local jobseekers and give more time for local 
jobseekers to respond to job openings.  
In recent years, we have progressively reduced the Dependency Ratio Ceiling (which is the ratio of 
lower- and mid - skilled foreign workers a firm can hire among its workforce) to encourage a more 
sustainable and resilient workforce at the lower -skilled level, in tandem with industry transformation 
efforts to raise productivity.  
Singapore does not generally release a breakdown of our foreign workforce numbers by nationality. 
We publish statistics on our foreign workforce by pass types, as well as by broad sectors on the 
Ministry of Manpower's website ( https://stats.mom.gov.sg/Pages/employment -Summary -
Table.aspx ). 
Page 41 Paragraph 3.3  
Question: 7. Could Singapore elaborate on the formalities/ steps or information required 
to obtain an import permit?  
Response 7 : For a step -by-step guide to obtain a permit to import goods into Singapore, please 
visit the following link on Singapore Customs' website:  
https://www.customs.gov.sg/businesses /importing -goods/overview  
Page 42 Paragraph 3.7  
Background: For over a decade, Singapore has operated several programmes to facilitate trade, 
while at the same time making it more secure. Its Trade Facilitation and Integrated Risk -based 
System (TradeFIRST) , in place since 2011, provides an integrated framework to assess companies 
applying for a Singapore Customs scheme and determine the level of trade facilitation to be 
accorded. Under TradeFIRST criteria, companies are assessed and classified into five tie rs: basic, 
standard, intermediate, enhanced, and premium.  
Question: 8. Could Singapore elaborate on the Trade FIRST criteria? On what basis the 
classification of companies into five tiers is done?  
Response 8:  The criteria under the TradeFIRST scheme was fo rmulated with reference from the 
World Customs Organization's SAFE Framework of Standards to Secure and Facilitate Global Trade 
(SAFE Framework). The 6 broad assessment categories are: Company Profile, Procedures and 
Processes, Security, Inventory Manageme nt, Compliance and Other Scheme -Specific requirements.  
Singapore Customs grants trade facilitation measures to the companies according to their 
classification under the TradeFIRST scheme, as determined by their ability to meet the relevant 
assessment crite ria. 
Page 45 Reference Table 3.3  
Question: 9.  What are the agriculture products on which Singapore does not have 
ad-valorem rates of the tariff? Which forms of import tariffs are applied to these products?  
Response 9: For the list of agricultural products on which Singapore has bound non -ad-valorem 
tariff rates, you may wish to refer to Singapore's market access commitments under the Uruguay 
Round at  
https://goods -schedul es.wto.org/member/singapore  
Among the agricultural products as well as all other tariff lines, Singapore applies import tariffs to 
only 2 product categories (comprising 4 tariff lines) on an MFN basis: stout or porter, and other beer 
made from malt, includ ing ale. The import tariffs applied on these four tariff lines are specific tariffs.  
Page 55 Paragraph 3.43  WT/TPR/M/413/Add.1  
 
- 186 - 
 
  Background:  Given the limited size of its domestic market, Singapore considers the expansion of 
overseas markets an essential element of its overall  policy of encouraging enterprise development. 
Enterprise Singapore (ESG), a statutory board created in April 2018 from the merger of International 
Enterprise Singapore and SPRING Singapore, is today the sole agency responsible for the promotion 
of Singapo re-based enterprises. ESG supports all types of businesses, from start -ups to small and 
medium -sized enterprises (SMEs) and high -growth companies, while at the same time adopting a 
company -centric approach tailored to individual companies' needs. ESG helps  companies to upgrade 
capabilities, innovate, and internationalize. It also promotes the growth of Singapore as a global 
trading hub.  
Question: 10.  Could Singapore clarify whether the ESG is a 'Public Body' within the 
meaning of the Agreement on Subsidies and Countervailing Measures?  
Response 10:  ESG is established under the Enterprise Singapore Board Act 2018. The functions of 
ESG are listed in section 5(1) of the afore -mentioned Act (available at: 
https: //sso.agc.gov.sg/Act/ESBA2018  
Page 56 Paragraph 3.45  
Background: ESG's broad -based assistance also includes financial support programmes operated 
in collaboration with private financial institutions (Section 3.2.5), as well as tax incentives schemes 
(Secti on 3.3.1). Among the financial support programmes, the Market Readiness Assistance scheme 
is specifically targeted to companies' internationalization efforts: it provides financial assistance to 
companies embarking on promotional activities and identifying  business partners in new overseas 
markets (Table A3.1).  
Question: 11. Could Singapore list the financial support programmes operated by the ESG? 
What type of financial aid/assistance does the Market Readiness Assistance Scheme 
provide? What are the crite ria for companies to receive such aid?  
Response 11:  Enterprise Singapore (ESG) enables enterprises to access financing more readily 
throughout their various stages of growth through the Enterprise Financing Scheme (EFS). The 
scheme covers six areas of dema nd. Namely, SME Working Capital, SME Fixed Asset, Venture Debt, 
Trade Financing, Project Financing, and Merger and Acquisition.  
On the types of financial aid or assistance provided by the Market Readiness Assistance (MRA), and 
its criteria, please refer to the MRA page available on ESG's website 
(https://www.enterprisesg.gov.sg/financial -assistance/grants/for -local-compan ies/market -
readiness -assistance -grant ). 
Page 56 Paragraph 3.46, 3.47  
Background: Regarding fiscal incentives, ESG administers the Global Trader Programme (GTP), 
which provides a reduced corporate tax rate of 5% or 10% on qualifying income from internationa l 
trading activities for three or five years. In the 2020 budget, the GTP was extended until 2026. 
Under another scheme, the Double Tax Deduction for Internationalization (DTDi), businesses 
registered in Singapore are entitled to double tax deductions (of up to 200%) on qualifying expenses 
incurred on marketing expansion and investment development activities abroad (e.g. overseas 
business development trips and missions, overseas investment study trips, and overseas and local 
trade fairs). From year of asses sment 2019 onwards, the maximum amount of expenditures covered 
under DTDi was raised to SGD 150,000 (up from SGD 100,000) (Table A3.1). In promoting 
companies 'internationalization efforts, ESG relies on its network of overseas centres in 36 locations 
worldwide. In 2019, ESG helped with 13,560 company projects, of which 3,000 were 
internationalization projects, benefitting 2,600 enterprises.27 In 2020, it assisted 1,600 enterprises 
with internationalization projects. In 2019 and 2020 combined, ESG facilitat ed over SGD 28 million 
in grants to help companies expand overseas, about SGD 1.5 billion in trade and financing loans, 
and insurance schemes covering SGD 1 billion worth of investment.  
Question: 12. Could Singapore clarify for which activities does the ESG provide assistance? 
What activities are considered as "internationalization efforts" by the ESG?  WT/TPR/M/413/Add.1  
 
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  Response 12:  Through the Market Readiness Assistance (MRA) scheme, SMEs are provided wi th 
financial support to embark on overseas market promotional activities, overseas business 
development activities and overseas market set up activities when they venture into new overseas 
markets.  
Through the Enterprise Financing Scheme (EFS), ESG helps e nterprises to access financing more 
readily through their various stages of growth, which can be used to finance costs associated with 
the enterprises' growth and internationalisation, both organically and inorganically. The scheme 
covers six areas of dema nd. Namely, SME Working Capital, SME Fixed Asset, Venture Debt, Trade 
Financing, Project Financing, and Merger and Acquisition.  
Page 56 -57 Paragraph 3.51  
Background: Companies operating in the FTZs enjoy several advantages: (i) no customs permit is 
require d for the transhipment of non -controlled goods; (ii) customs duties and GST are not payable 
on goods imported and stored in FTZs, provided that these products are thereafter re -exported; and 
(iii) they are eligible for simplified customs procedures. In add ition, no customs duty or GST is 
payable on goods moved from one FTZ into another FTZ, a licensed warehouse, or an excise factory 
(an area authorized by Singapore Customs for manufacturing and storing dutiable goods). Customs 
duties and GST are payable onl y when the goods are consumed within the FTZ or enter Singapore's 
customs territory for local sale or consumption. Tobacco and liquor may be temporarily stored in 
FTZs only if they are to be transhipped or exported. Companies in FTZ can undertake activitie s such 
as re-packaging, sorting, and grading of goods. Manufacturing may also be carried out upon approval 
from Singapore Customs. Activities performed within the FTZs are tax exempt.   
Questions:  
13.Could Singapore elaborate on the advantages that compani es operating in the FTZs, 
which re -export goods, enjoy? Are these advantages exclusively for companies that re -
export?  
Response 13:  Companies operating in the FTZs, which import and thereafter re -export non -
controlled goods out of the FTZs, are not require d to take up customs permits for those goods. They 
are also not required to pay duties and Goods and Services Tax (GST) upfront, and therefore will 
not need to make claims for refund of such duties and GST when the goods are re -exported. In other 
words, th e duties and GST are suspended while the non -controlled goods awaiting re -export remain 
in the FTZs.  
For goods which are meant to be imported into the customs territory after being stored or repacked 
in the FTZs, the companies are required to apply for the  relevant customs permits and pay the duties 
and GST due.  
14. What are the terms and conditions of approvals granted for companies to operate in 
FTZ? Can Singapore provide a copy of such approval?  
Response 14:  Companies which have been approved to operate in the FTZ are required to maintain 
proper accounts of their inventories and submit regular reports on the movement and balance of the 
goods stored in the FTZ (e.g. raw materials; semi -finished and finished goods).  
15. Given that customs duties and  GST are not payable on goods imported and stored in 
FTZs, could Singapore clarify why these not subsidies within the meaning of the ASCM, 
which are to be notified to the WTO are?  
Response 15:  Free Trade Zones (FTZs) in Singapore facilitate trade and trans hipment activities. 
Customs duties and GST are not payable on goods stored in FTZs as long as they are subsequently 
re-exported and do not enter Singapore's customs territory for local sales or consumption. This 
applies to all enterprises operating in the FTZs. We do not consider the suspension of customs duties 
and GST for companies operating in FTZs as subsidies that are notifiable to the WTO SCM Committee.  
16. Could Singapore also clarify if these measures are export contingent subsidies within 
the meani ng of the Agreement on Subsidies and Countervailing Measures?  WT/TPR/M/413/Add.1  
 
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  Response 16:  These measures are not export contingent subsidies within the meaning of the 
Agreement on Subsidies and Countervailing Measures as the eligibility for companies to operate in 
an FTZ  is not conditional upon their export performance.  
Page 57 Paragraph 3.53  
Background: The Inland Revenue Authority of Singapore (IRAS) administers the Major Exporter 
Scheme (MES), which aims to alleviate the cash flow situation of companies that re -export a 
substantial amount of what they import. Companies authorised under the MES benefit from GST 
suspension on non -dutiable goods imported into Singapore, and on goods removed from a zero -GST 
warehouse.  
Question 17: Could Singapore elaborate on the MES scheme  regarding the eligibility 
criteria of companies that benefit from the scheme and the benefits/ advantages enjoyed 
by companies authorized under the MES?  
Response 17:  The qualifying conditions and other details on the Major Exporter Scheme can be 
found at the following weblink:  
https://www.iras.gov.sg/irashome/Schemes/GST/Major -Exporter -Scheme --MES-/ 
Page 57 Paragraph 3.54  
Background: Export finance and insurance are o nly available through private sector institutions. 
However, as part of its mandate to help businesses build capabilities, innovate, and internationalize, 
ESG administers several financial support programmes, which rather than providing direct assistance 
to companies, are instead aimed at encouraging lending from private financial institutions to 
Singapore -based companies. ESG provides risk -sharing to participating financial institutions, which 
in turn provide loans for working capital, fixed assets, venture  debt, trade finance, mergers and 
acquisitions, and overseas projects to eligible enterprises. In 2019, ESG launched the Enterprise 
Financing Scheme (EFS), grouping several existing financing schemes under one umbrella in order 
to expedite companies' acces s to financial resources. Among these schemes are the Loan Insurance 
Scheme, the Political Risk Insurance Scheme, and the Trade Credit Insurance Scheme (Table A3.1).  
Questions:  
18. Could Singapore provide details of risk sharing provided by ESG to financia l 
institutions for providing loans to enterprises? Whether these are risk guarantees and if 
so, what are the terms and conditions of such guarantees? Whether such guarantees can 
be treated as a financial contribution within the meaning of Article 1 of ASCM ? 
Response 18:  Enterprise Singapore (ESG) encourages Participating Financial Institutions (PFIs) to 
extend loans to enterprises through a risk -sharing mechanism. The interest rate of the loans is 
determined by the PFIs based on market practices. The PFIs a re responsible for the credit 
assessment of eligible borrowers, and extending the loans based on their respective risk and 
commercial considerations.  
In the case of a loan default due to borrower insolvency, the PFI is obligated to follow its standard 
comm ercial recovery procedures, including the realisation of security, before they can make a claim 
against ESG for the unrecovered amount in proportion to the pre -determined risk -share, on a pari 
passu basis.  
The Enterprise Financing Scheme is available to companies in Singapore across different sectors, 
and open to both local and foreign companies. It is also not contingent on export performance or 
local content requirements.  
19. Could Singapore clarify whether the loans provided by the private financial institutions 
in the mentioned paragraph are on commercial terms/ at market rate? What are the types 
of loans provided by such private financial institutions, i.e., are they short term or long -
term  loans?  WT/TPR/M/413/Add.1  
 
- 189 - 
 
  Response 19:  Enterprise Singapore (ESG) encourages the participating financial institutions (PFIs) 
to extend loans to enterprises through a risk -sharing mechanism. The interest rate of the loans is 
determined by the PFIs based on market practices. The PFIs are responsible for the credit 
assessment of eligible borrowers, and extending the loans based on their respective risk and 
commercial considerations.  
Loans provided by the PFIs include both short term and long term loans, depending on the specifi c 
financing requirement, covering areas such as Working Capital Loan, Fixed Asset Loan, Venture Debt 
Loan, Trade Loan, Project Loan, and Mergers and Acquisitions Loan.  
20. Could Singapore clarify which existing financing schemes have been grouped under 
one umbrella?  
Response 20:  The financing schemes grouped under the Enterprise Financing Scheme (EFS) 
comprises of the:  
1. SME Working Capital Loan  
2. SME Fixed Assets Loan  
3. Venture Debt Loan  
4. Trade Loan  
5. Project Loan  
6. Mergers & Acquisitions Loan  
Page 57 Paragraph 3.55  
Background: Under the Supplementary Budget for 2020, the Temporary Bridging Loan Programme 
was put in place in March 2020, with a validity until 31 March 2021, to alleviate the cashflow needs 
of enterprises affected by the COVID -19 pandemic. In addition, several existing programmes were 
enhanced to help mitigate the economic impact of the pandemic.  
Question: 21. Could Singapore list the existing programmes which were enhanced to help 
mitigate the economic impact of the pandemic? What was the kind of enhancement that 
was undertaken?  
Response 21:  Some examples of existing programmes that were enhanced include:  
• Enterprise Financing Schemes (EFS) -Trade Loan and EFS -SME Working Capital Loan – These 
schemes provide enterprises with better  access to trade financing and working capital. We enhanced 
these through time -limited increases in the maximum loan quantum, and Government's risk -share 
proportion of loans issued by commercial banks  
• Wage Credit Scheme – This encourages employers to sha re productivity gains with their employees 
by co -funding wage increases. We enhanced these through a time -limited increase in the co -funding 
ratio and qualifying gross wage ceiling.  
Page 57 Paragraph 3.2.5  
Question: 22. Does Singapore have export financing , insurance and guarantees programs 
for export of agriculture products? What agricultural products are covered?   
Response 22:  Singapore does not have export financing, insurance or guarantees programs specific 
to the export of agriculture products.  
Page 58  Paragraph 3.62  WT/TPR/M/413/Add.1  
 
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  Background:  Some incentives schemes are targeted to specific industries or activities, such as 
financial services, tourism, shipping and maritime services, processing services, R&D, headquarters 
activities, legal services, e-commerce, and events organisation. Depending on the type of incentive, 
the schemes are administered by various government agencies, including ESG, the Singapore 
Economic Development Board (EDB), the IRAS, the Monetary Authority of Singapore (MAS), and th e 
Maritime and Port Authority of Singapore (MPA).  
Question: 23. Could Singapore elaborate on the incentive schemes available for e -
commerce activities?  
Response 23:  The Singapore government provides various forms of support to SMEs to thrive in 
an increas ingly digitalised economy. For example, we support and encourage the digital 
transformation of businesses with a range of initiatives that reduce the complexity of evolving 
technologies, through the SMEs Go Digital Programme.  
For more information on the S MEs Go Digital programme, please visit 
www.imda.gov.sg/SMEsGoDigital . 
Page 60 Paragraph 3.70, 3.73  
Background:  
3.70…As at the end of December 2020, Singapore had a total of 821 standards, of which 448 were 
adopted from international standards  
3.73…An SS becomes a technical regulation (i.e. mandatory) when it is referenced by an Act or 
Regulation. As at end -2020, about 270 standards were referred to in technical regulations, mainly 
in the following s ectors: consumer, household and industrial appliances/machinery, 
telecommunications, electrical and electronic products, medical and pharmaceutical products, food, 
and hazardous substances.  
Questions:  
Singapore is requested to clarify the following questions:  
24. Does the total of 821 standards include the 270 mandatory standards applicable for 
the six mentioned sectors?  
Response 24:  Yes, the total count of 821 standards include standards that are referred in our 
technical regulations.  
25. Are there any mandatory standards in 448 SSs that have been adopted based on the 
internationally harmonised standard?  
Response 25:  Yes, some of the 448 Singapore Standards that were adopted from international 
standards and overseas standards, are referred in our technical regulations.  
Page 62 Paragraph 3.85  
Background: Labelling requirements apply to Controlled Goods (33 household electrical, electronic, 
and gas appliances) and to imported food (Section 3.3.3), medicinal products, liquors, and paints 
and solvents. Labels must specify the country of origin.  
Questions:  
Singapore is requested to clarify the following questions:  
26. How does Singapore ensure the authenticity of labelling attached by the exporters? 
What are the processes and procedures for cros s verification put in place?  WT/TPR/M/413/Add.1  
 
- 191 - 
 
  Response 26:  Singapore uses a variety of enforcement mechanisms to verify the authenticity of 
labelling depending on a multitude of factors such as the risk of non -compliance and our policy 
objectives. An example of an enforcem ent mechanism we use is a pre -market testing and 
certification regime for controlled household electrical, electronic and gas appliances, which are 
required to be affixed with the SAFETY MARK. A local Registered Supplier must get the product 
registered wit h Enterprise Singapore before affixing the SAFETY Mark. ESG regularly conducts 
compliance checks to ensure products supplied in the domestic market have valid SAFETY Marks.  
27. Does Singapore use the digital means of verification?  
Response 27: Yes, for exa mple, Enterprise Singapore maintains a public online database for 
consumers to verify the accuracy of product details of the list of controlled household electrical, 
electronic and gas appliances which are affixed with the SAFETY Mark.  
28. Does Singapore a pply differential SSs for companies operating in the FTZs?  
Response 28:  No, Singapore does not impose differentiated Singapore Standards or labelling 
requirements for companies operating in the FTZs.  
Page 62 Paragraph 3.87  
Background: Labelling requirements apply to therapeutic products, as mandated in relevant 
legislation, and are subject to the Health Sciences Authority's surveillance programme. The label 
must include the name of the product, quantitative particulars of the active ingredient, b atch control 
number, expiry date, and the registration number assigned to the registered therapeutic product. 
There are other administrative (i.e. non -statutory) labelling requirements, which are specified in the 
Guidance on Therapeutic Product Registratio n in Singapore. Compliance is checked during the 
product registration process, prior to the granting of marketing approval.  
Questions:  
Singapore is requested to clarify the following questions:  
29. How the two different measures are implemented, firstly th e relevant legislation 
specifying the label requirements? And secondly, are the non -statutory measures form a 
part of labelling requirements?  
Response 29:  The labelling requirements are in line with international best practices for labelling 
of medicines o r pharmaceuticals. Both the statutory and non -statutory requirements are 
complementary in ensuring that adequate information is clearly stated on the labels to ensure safe 
and appropriate use of the medicines. Statutory requirements include name and streng th of active 
substances, batch number, expiry date. Non -statutory requirements include storage conditions, 
name and address of product registrant in Singapore, warnings about product.  
The requirements (statutory and non -statutory) are all published on HSA' s website and consolidated 
in the Guidance for Therapeutic Products. Please refer to the website link on the Guidance for 
Therapeutic Products under Annex 7 on Points to Consider for Singapore Labelling for more 
information.  
30. What is the frequency of re visions to such non -statutory measures?  
Response 30:  HSA monitors the implementation of the measures and welcome the industry to 
provide any feedback. Singapore also takes into account new developments in international 
standards, guidelines and practices w hen assessing the need to revise our labelling requirements. It 
is also our experience that labelling requirements for therapeutic products do not require regular 
revisions. Nonetheless, stakeholders will be consulted and kept informed prior to implementat ion of 
any revisions.  
31. Are these measures notified to the WTO?  
Response 31:  These labelling requirements have been notified to the WTO.  WT/TPR/M/413/Add.1  
 
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  Page 63 Paragraph 3.93  
Background: The authorities indicate that Singapore ensures that its SPS measures are consistent 
with the international standards, guidelines, and recommendations of the Codex Alimentarius, the 
World Organization for Animal Health (OIE), and the International Plant Pr otection Convention 
(IPPC). Where international/regional standards are not available, Singapore conducts its own risk 
assessment and makes risk -management decisions, taking into account economic, technical, and 
other relevant factors.  
Questions:  
Has Singap ore notified any SPS and TBT measures under such a condition? Singapore is requested 
to clarify the following questions:  
32. Does it borrow the consumption -based MRL measures (assessed based on daily intake 
of another market)? If it does, how many such MRL s exists? And does it follow any 
particular market and the reasons?  
Response 32:  Singapore adopts the Codex standards for pesticide residues and veterinary drugs 
MRLs as our national standards. In the absence of Codex MRLs, Singapore will conduct benchmark ing 
against available standards adopted by international best practices, taking into consideration our 
local consumption data.  
33. Does Singapore carry out a risk assessment of the food products sold, and does it 
make any effort to make available such info rmation to the exporter?  
Response 33:  Singapore carries out risk assessments to determine the risk level of food products 
and establishes risk -based control measures accordingly.  
The outcome of a risk assessment is publicly available on the website of the Singapore Food Agency.  
Page 64 Paragraph 3.98  
Background: Fresh eggs are imported only from accredited farms in Australia, Denmark, Finland, 
Japan, Malaysia, the Netherlands, New Zealand, Poland, the Republic of Korea, Sweden, Thailand, 
Ukraine, and the Un ited States. Imports of broiler chickens and ducks are allowed only from 
accredited farms in Malaysia. Pigs may be imported only from one farm in Indonesia and one in 
Malaysia. Dairy products from countries that are not free from Foot and Mouth Disease may  be 
imported only if subjected to treatment in accordance with OIE guidelines.  
Question: 34. India requests Singapore to explain the reasons behind the non -existence 
of MRA with India's regulatory authorities despite a comprehensive FTA, which is nearly 
two decades old.   
Response 34:  In Singapore, meat, eggs, and their products must be imported from approved 
sources in accredited countries or regions that meet the SFA's food safety and animal health 
standards and requirements. Accreditation is necessary as these products can carry foo d safety risks 
and animal diseases of public health and trade importance.  
SFA's accreditation procedure is a two -stage process. The first stage involves country accreditation, 
where the country is assessed for regulatory oversight and freedom from animal d iseases of 
important trade and public health concerns (e.g. Foot -and-Mouth Disease (FMD), Bovine spongiform 
encephalopathy (BSE), etc). The second stage involves the individual establishment accreditation, 
where the food safety and quality programmes and o perational hygiene practices of the export meat 
processing plants are evaluated. This involves submission of a documentary dossier, followed by an 
inspection.  
We thank India for its interest and welcome further discussion with our SPS competent authority f or 
food safety, the Singapore Food Agency (SFA).  
Page 96 Paragraph 4.69  WT/TPR/M/413/Add.1  
 
- 193 - 
 
  Question: 35. Whether cross border insurance portability is allowed in Singapore. If yes, 
kindly share statutory provisions regarding the same.  
Response 35:  Cross border insurance port ability is not allowed in Singapore  
Page 96 Paragraph 4.70 table 4.8  
Background: Authorised reinsurers do not have a physical presence in Singapore and they provide 
insurance services from overseas to persons in Singapore. Authorised reinsurers are not req uired to 
set up and maintain separate insurance funds for policies taken out by persons in Singapore.  
Question: 36. Can Singapore please explain the difference in operating, regulatory and 
compliance requirements for the Authorized reinsurers who do not ha ve a physical 
presence in Singapore and those who are physically present in Singapore?  
Response 36:  Authorised reinsurers are not permitted to establish a physical presence in Singapore 
and must comply with the requirements in the Insurance (Authorised Rei nsurers) Regulations. Other 
areas of differences include:  
• Authorised reinsurers are not required to set up and maintain separate insurance funds for 
policies taken out by persons in Singapore; and  
• Authorised reinsurers are required to maintain a reinsurance deposit with MAS. The amount 
of deposit will depend on the volume of business written or liabilities incurred in respect of cross -
border business written from Singapore. This requirement is in lieu of the risk -based capital solvency 
requirement s that are imposed on licensed reinsurers.  
While authorised reinsurers are allowed to solicit for insurance business in Singapore, they have to 
disclose the following to their client:  
i) its authorisation status;  
ii) reinsurance services are supplied without a commercial presence in Singapore; and  
iii) is required to comply with authorisation requirements, and not the licensing requirements 
under the Insurance Act.  
Page 98 Paragraph 4.76  
Background: In terms of prefer ential treatment, amendments were made to the Insurance 
(Approved Marine, Aviation and Transit Insurers) Act in 2018 and 2019 to reflect the insurance 
sector commitments made under the Comprehensive and Progressive Agreement for Trans -Pacific 
Partnership ( CPTPP) and the European Union -Singapore Free Trade Agreement (EUSFTA), 
respectively.  
Question: 37. Singapore is requested to clarify if it has taken insurance sector 
commitments in CPTPP and EUSFTA beyond its independent policies. Were the 
amendments made after signing these FTAs?  
Response 37:  Singapore committed to the cross -border supply of international marine, aviation 
and goods in international transit (MAT) insurance in the CPTPP and EUSFTA.  
The Insurance (Approved Marine, Aviation and Transit Insure rs) Regulations was amended in 2018 
and 2019 to expand the definition of "designated country" in the Regulations. Following the entry 
into force of the CPTPP and EUSFTA agreements, insurers that are licensed or authorised to provide 
MAT insurance in an EU member state or a country that is a signatory to the CPTPP may offer MAT 
insurance to Singapore on a cross -border basis.  
Page 100 Paragraph 4.90  WT/TPR/M/413/Add.1  
 
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  Background: MAS may recognize a stock exchange that is principally regulated in another 
jurisdiction as a Forei gn Recognized Market Operator if: (i) the laws and practices of that jurisdiction 
achieve equivalent outcomes to the laws and practices applicable to recognized market operators 
under the Securities and Futures Act; and (ii) there are sufficient arrangemen ts for cooperation 
between MAS and the regulator of the foreign stock exchange. There have been three cases of such 
recognition: the Australian Stock Exchange Limited, the Stock Exchange of Hong Kong Limited, and 
the Tokyo Stock Exchange, Inc., with the la tter two during the review period.  
Question: 38. Could Singapore clarify on what kinds of arrangements for cooperation 
between MAS and regulator of a foreign stock exchange are envisaged under such a 
mechanism? Does Singapore enter into MRAs to recognise the foreign stock exchange 
regulator?  
Response 38:  Under the Foreign Recognised Market Operator regime, MAS places reliance on the 
home regulator to subject the entity to a home regulatory regime that achieves outcomes 
comparable to that under the Securiti es and Futures Act in Singapore. This requires channels for 
cooperation between MAS and the home regulator. These channels could take the form of bilateral 
agreements to cooperate on supervisory matters with respect to these foreign market operators, or 
multilateral arrangements such as the International Organisation of Securities Commission (IOSCO) 
Multilateral Memorandum of Understanding. The updated list of stock exchanges recognised by MAS 
can be found on:  
https://eservices.mas.gov.sg/fid/institution?sector=Capital%20Markets&category=Recognised%20
Market%20Operator . 
To address the market fragmentation concerns following our implementation of the mandatory 
derivatives trading obligation of the G20 Over -the-Counter (OTC) reform, MAS has entered into 
mutual recognition arrangement with the European Commission, US Commodi ty Future Trading 
Commission and most recently with the UK HM Treasury to recognise certain trading venues in each 
other's jurisdiction. With these arrangements, participants in Europe, Singapore, the UK and the US 
would be able to comply with their tradin g obligation by trading the mandated OTC derivatives on 
these recognised venues.  
Page 101 Paragraph 4.103  
Background: MAS also promotes joint projects with other government agencies and the industry 
to reinforce the digital infrastructure of Singapore and the adoption of new technologies in the 
financial sector.  
Question: 39.  Are these projects open to all foreign government agencies on an MFN basis, 
or are there any pre -conditions for foreign agencies for collaborating on these projects?  
Response 39:  MAS assesses potential partners for such joint projects on a case -by-case basis.  
Page 102 Paragraph 4.103  
Background: Business sans Borders: a hybrid global meta -hub that connects platforms and their 
SMEs domestically and internationally to facilitate open and  frictionless matching of buyers, sellers, 
and innovative solution providers.  
Question: 40. What are the barriers faced by SMEs in Singapore to connect with platforms?  
Response 40:  With the growth of commerce in the digital space, SMEs are facing barriers at a 
number of junctures, such as: (i) Digitalising the front end of their business towards an online 
presence; (ii) Onboarding on multiple trade platforms to maximise their digital exposure to find new 
business opportunities in the new normal; and (iii) S ourcing for essential support services for their 
digital trades, such as financing, logistics, marketing, accounting.  
With the "Business Sans Borders" initiative from MAS, these barriers are being addressed for an SME 
as it can utilise its existing presen ce on a digital marketplace to connect to a wider community of 
local and global marketplaces of buyers and sellers as well as financial services and business service WT/TPR/M/413/Add.1  
 
- 195 - 
 
  providers. In short, an SME, through a single connection on its existing digital platform rather than 
multiple disparate digital platforms, will have access to a seamless, vibrant and interoperable SME 
ecosystem.  
The BSB -connected digital marketplace that an SME is on, will natively help to facilitate cross -borders 
and cross -platform data flow s that reduce complexity of domestic and foreign trade, enabling faster, 
seamless trade transactions. Service providers on board the BSB network will also have more 
opportunities to be discovered by SMEs at their point of needs, especially to complete a tr ade 
transaction. Structured as an open and international initiative, MAS is open to work with all countries 
to engender a fair, digitally connected and dynamic SME -supportive global ecosystem.  
Page 102 Paragraph 4.105  
Background: MAS launched in 2015 the S GD 225 million, five -year Financial Sector Technology & 
Innovation (FSTI) scheme to support the creation of an ecosystem for innovation.  
Question: 41. Is this fund's support available to foreign entities without any 
discrimination, or are there any discrim inatory conditions on foreign entities to avail 
support from this fund?   
Response 41: Entities, regardless of nationality, will be evaluated on the same eligibility criteria for 
the FSTI scheme. Both foreign and local entities will qualify for the FSTI sch eme as long as they 
meet the qualifying criteria.  
All grants are evaluated based on merit in an open and competitive manner. Further information can 
be found here: https://www.mas.g ov.sg/schemes -and-initiatives/fsti -scheme . 
Page 102 Paragraph 4.107  
Background: To ensure a reliable and ready pipeline of talent entering the workforce, MAS has 
worked with IHLs to ensure that curricula are updated and relevant for new fintech -related jobs. All 
local universities and polytechnics in Singapore now offer foundational and applied courses, as well 
as internship programmes, in fintech. Programmes and initiatives have also been rolled out to help 
mid-career professionals in th e finance sector embark on technology roles through training and 
attachments with financial institutions.  
Question: 42. Is Singapore envisaging attracting foreign talent by easing the conditions 
on entry and stay of foreign professionals?   
Response 42:  Singapore is committed to remain an open and connected hub for international 
businesses. Singapore's foreign workforce policies have always strived to ensure that the foreign 
workforce complements the local workforce. We regularly update our work pass criteri a to keep 
them current and responsive.  The Employment Pass (EP) and S Pass salary criteria is updated from 
time to time in the light of prevailing conditions.  
We constantly review our policies, taking into account feedback from stakeholders so as to achiev e 
our objectives of a strong local workforce, complemented by a diverse foreign workforce.  
Page 103 Paragraph 4.113  
Background: The licensing regime encompasses a wide range of seven payment activities, 
including: (i) account issuance; (ii) domestic money transfer; (iii) cross -border money transfer; (iv) 
merchant acquisition; (v) e -money issuance; (vi) money -changing services; and (vii) digital 
payment tokens (DPT). Currently, the PS Act regulates the service of dealing in DPTs and facilitating 
the exchange  of DPTs where the service provider comes into possession of moneys or DPTs.  
Question: 43. Are there plans to launch the official digital currency of Singapore? If yes, 
could Singapore inform about its salient features and the expected time of its launch?  
Response 43:  No decision has been made to launch an official Singapore dollar digital currency . WT/TPR/M/413/Add.1  
 
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  Page 107 Para 4.129  
Question: 44.  Could Singapore please explain and elaborate specific provisions related to the 
following in its laws, regulations or policies related to digital economy:  
• Cross border transfer of personal and non -personal data  
• Localization of data  
• Data sharing obligations and provisions, if any, with regard to SME/startups.  
• Sharing of source code of digital technologies with public autho rities.  
• Data adequacy arrangements with other countries.  
• Measures to address anti -competitive behaviour due to network effect of digital monopolies.  
• Regulation of social media applications  
Response 44:  Cross border transfer of personal and non -personal dat a - Singapore promotes 
cross border data flows to support innovation and economic development. We aim to strike a balance 
between enabling business innovation and data flows, and maintaining adequate data protection 
standards to safeguard individuals' inte rests. The Singapore Personal Data Protection Act (PDPA) 
sets out baseline data protection rules for the private sector, and transfers of personal data overseas 
are allowed by ensuring a comparable standard of protection to the data – see section 26 of the  
PDPA.  
Localization of data –The PDPA allows personal data to be transferred outside of Singapore as 
long as the recipient or destination can protect the personal data to a comparable standard. This 
can be done via legally enforceable obligations such as binding corporate rules, contracts, or 
certifications (APEC CBPR).  
Data sharing obligations and provisions, if any, with regard to SME/startups - There are no 
specific data sharing obligations/provisions with regard to SMEs or startups.  
Sharing of source c ode of digital technologies with public authorities - The Police are 
empowered under Section 39 of the Criminal Procedure Code to access computers to obtain 
information relevant to the investigations for criminal offences. Such information could include 
source codes.  
Data adequacy arrangements with other countries - Singapore currently does not have any 
"data adequacy arrangements" with other countries.  
Measures to address anti -competitive behaviour due to network effect of digital 
monopolies - The Compet ition Act seeks to prohibit anti -competitive activities that unduly prevent, 
restrict or distort competition. There are three main prohibited activities under the Act:  
i) anti -competitive agreements, decisions and practices ("Transitional Provisions for Se ction 34 
Prohibition");  
ii) abuse of a dominant position ("the section 47 prohibition"); and  
iii) mergers and acquisitions that substantially lessen competition ("the section 54 prohibition").  
The Competition and Consumer Commission has reviewed Singapore's existing competition 
framework and found that it is sufficiently robust to address the com petition issues that may arise 
from the proliferation of e -commerce platforms that compete in multiple market segments in 
Singapore.  
However, certain key areas were identified where further clarity and guidance by CCCS could be 
beneficial to assist busines ses in the application of the Competition Act in the digital space. Some 
examples include providing additional clarity on how CCCS may assess market power in cases 
involving digital platforms, and keeping up -to-date with theories of harm identified by over seas 
jurisdictions. Consequently, CCCS has proposed some  amendments to the CCCS Guidelines, such as 
updates to the CCCS's guidelines on market definition and on the section 47 (Abuse of dominance) 
prohibition to address competition issues relevant to the d igital era.  WT/TPR/M/413/Add.1  
 
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  Regulation of social media applications - In line with Singapore's approach of maintaining an 
open and friendly business environment for all, we welcome technology companies to operate from 
Singapore as well as provide services to our market. A s part of being responsible corporate citizens, 
technology companies should also play their part in keeping the online space safe and comply with 
our local laws. For example, Singapore works with social media companies in implementing 
regulations to safegu ard against the communication of online falsehoods in Singapore.  
Page 108 Para 4.137  
Background: The licensing framework differentiates between licensees based on the nature of their 
operations. Operators that deploy their own telecom infrastructure and ne twork to offer services are 
licensed under the Facilities Based Operations (FBO) licence framework, while operators that lease 
telecom networks or purchase wholesale services from FBOs to offer or resell services are licensed 
under the Services Based Opera tor (SBO) licence framework. FBO licensees may offer the services 
that SBOs can offer; the reverse is not permitted.  
Question: 45. What are the differences in the licensing conditions for FBO and SBO?   
Response 45:  The Info -communications Media Development Authority (the "Authority") will 
evaluate a Facilities -Based Operator (FBO) licence application based on its merits. The Authority will 
take into account the following in its evaluation of the merits of an applican t's proposal:  
(a) vision of the applicant;  
(b) organizational structure and financial capability and strength of the applicant;  
(c) competition strategies of the applicant for the provision of services; technical soundness of 
the applicant's plans and technical capabi lity to implement the plans;  
(d) commitments of the applicant in fulfilling its vision and plans; and  
(e) any other relevant information provided by the applicant.  
While there is no limit in the number of FBO licences that IMDA can issue, there may be radio 
freque ncy spectrum or other resources and physical constraints that may limit the number of licences 
available for certain networks and/or services. Applicants for an FBO licence shall be a company 
incorporated under the Singapore Companies Act, (Cap. 50). There  are no foreign equity limits 
imposed on FBO Licensees.  
As for Services -Based Operations (SBO) licences, the SBO (Individual) Licence will be granted if the 
Authority is satisfied with the applicant's ability to deliver its proposed service and its quality  of 
service standards commitments. There are also no foreign equity limits imposed on SBO licensees. 
The Licensee shall be a company incorporated or a foreign company registered under the Singapore 
Companies Act, Chapter 50. SBO (Class) licences may also b e held by a Limited Liability Partnership 
(LLP) or a Limited Partnership (LP).  
Pls refer to the website below for more information on FBOs and SBOs licenses:  
https://www.imda.gov.sg/regulations -and-licensing -listing/facilities -based -operations --fbo--licence  
https://www.imda.gov.sg /regulations -and-licensing -listing/services -based -operations --sbo--
licence . 
Page 111 Para 4.159  
Background: The freedom to provide ground -handling services varies according to air services 
agreements. Self -handling is allowed under bilateral air services a greements with Australia, and the 
Multilateral Agreement on the Liberalisation of International Air Transportation (MALIAT). In 
contrast, the Association of Southeast Asian Nations (ASEAN) Multilateral Agreements do not 
mention ground -handling.  
Question: 4 6. Singapore is requested to inform how the regulations about ground handling 
services are compatible with its commitments in FTAs, such as CPTPP and others.  WT/TPR/M/413/Add.1  
 
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  Response 46:  Under the CPTPP (Annex II – Singapore), Singapore reserves the right to adopt or 
maintain any measure affecting cross -border supply of ground handling services. However, 
Singapore has not adopted or maintain any such measures.  
 WT/TPR/M/413/Add.1  
 
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  JAPAN  
Report by the Secretariat  
3 TRADE POLICIES AND PRACTICES BY MEASURE  
3.1 Measures Directly Affecting Imports  
3.1.2 Rules of Origin  
Question 1. Paragraph 3.15, 3.16 (Page 44, 45)  
Japan would like to request for further information regarding any other e -CO data 
exchange programmes, if any, in place or under negotiation between Singapore a nd non -
ASEAN trading partners. It would also be appreciated if Singapore could tell us what does 
the 'certificates on non -manipulation' refer to.  
Response 1:  Presently, other than ASEAN, Singapore has established an exchange system of 
electronic origin dat a with China. Singapore is also currently in discussion with a number of non -
ASEAN trading partners to potentially establish other e -CO data exchange programmes.  
A Certificate of Non -Manipulation is to certify that the goods, when transhipped via Singapor e, have 
not undergone operations beyond ensuring their preservation in good condition for transport, 
facilitating shipment and packaging for sale.  
3.3 Measures Affecting Production and Trade  
3.3.7 Intellectual property rights  
Question 2. Paragraph 3.177 (P age 80)  
Japan would like to request Singapore to provide information regarding border measures 
ex officio with respect to goods suspected of IP infringement that are in transit at free 
trade zone. Especially, it would be appreciated if Singapore could prov ide us with 
following information;  
- the number of the border measures implemented per year,  
- the method how to find suspected goods, and  
- major country (countries) for a final destination of suspected goods in transit.  
Response 2:  Singapore adopts a r isk-based approach towards IP border enforcement for 
transhipped goods. This includes working with rights -holders and overseas customs authorities on 
actionable information regarding infringing and counterfeit goods. Where infringing and counterfeit 
goods are consigned to a local party, Singapore will take ex officio enforcement action to seize the 
goods without the need for a search warrant and notify the rights -holders. Where there is no local 
consignee, Singapore will relay the information to its counter parts at the destination country so that 
effective enforcement can be undertaken as appropriate. We do not release public information on 
these border measures for operational reasons.  WT/TPR/M/413/Add.1  
 
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  TURKEY  
THE GOVERNMENT REPORT  
3. Economic Outlook and Na vigating Recovery, 3.9. Strengthening digital capabilities to 
improve productivity and resilience, pg. 8  
It is stated in the Government Report that "Digitalization makes the exchange of goods and services 
more efficient, opens up new possibilities, and str engthens Singapore's value proposition as a trading 
node. In this regard, initiatives such as the AfA on Supply Chain Digitalisation, refreshing the ITMs 
in the Advanced Manufacturing and Trade (AMT) and Connectivity Clusters, and Digital Economy 
Agreement s have been undertaken to enhance access to new markets and opportunities for 
businesses. In February 2021, Singapore's Electronic Transactions Act was enhanced to adopt the 
United Nations Commission on International Trade Law (UNCITRAL) Model Law on Elect ronic 
Transferable Records (MLETR). This facilitates the use of electronic transferable instruments such as 
Bills of Lading, enabling trade including the shipping, finance and legal sectors to benefit from faster 
transactions, cost savings, and lowered fra ud risks".  
Question:  Could Singapore exemplify the "Digital Economy Agreements " and the 
framework of these agreements? What kind of benchmarks are aimed to be determined 
by these agreements? How does the "e-certification on agricultural commodities " system 
will work within the scope of these agreements? (Which agreements were put on force? 
Which ones are being negotiated? Are there any other countries that are considered to 
launch negotiations?)  
Response 1:  Singapore 's Digital Economy Agreements (DEAs) seek to deepen Singapore 's 
engagement and cooperation with our partners in wide ran ging and critical aspects of the digital 
economy.  
They complement our Free Trade Agreements (FTAs), but dive deeper into the issues related to 
the digital economy. Our DEAs aim to:  
i. Align digital rules and standards and facilitate interoperability between digital systems;  
ii. Support cross border data flows and safeguard personal data and consumer rights; and  
iii. Encourage cooperation between Singapore 's economic partners in nascent areas s uch as 
digital identities, artificial intelligence, and data innovation.  
The "e-certification on agricultural commodities " would fall under our objective (i) to align digital 
rules and standards and facilitate interoperability between digital systems. As p art of the 
Singapore -Australia Digital Economy Agreement (SADEA), we have entered into a Memorandum 
of Understanding on the exchange of e -certificates for agricultural products. This will allow 
businesses to transact documents seamlessly, as well as cut do wn processing times and costs.  
The Digital Economy Partnership Agreement between Singapore, Chile and New Zealand, and the 
SADEA have entered into force.  
Singapore is currently negotiating DEAs with Korea and the United Kingdom (UK). More details 
can be found in the URLs below:  
Korea -Singapore Digital Partnership Agreement (KSDPA):  
https://www.mti.gov.sg/ -/media/MTI/Newsroom/Press -Releases/2020/06/22 -Jun-2020-
Singapore -and-the-Republic -of-Korea -launch -negotiations -on-Digital -Partnership -Agreement.pdf  
UK-Singapore Digital Economy Agreement (UKSDEA):  
https://www.mti.gov.sg/ -/media/MTI/Newsroom/Press -Releases/2021/06/Singapore -and-the-
United -Kingdom -Launch -Negotiations -on-Digital -Economy -Agreement.pdf  WT/TPR/M/413/Add.1  
 
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  Singapore welcomes all like -minded countries to test new ideas with us, and to work together to 
develop progressive and forward -looking policies on digital trade and new technologies.  
3. Economic Outlook and Navigating Recovery, 3.12. Creating a green finance ecosystem, 
pg. 9 
It is stated in the Government Report that "Under the Green Economy pillar of the Singapore Green 
Plan 2030, Singapore seeks to grow as a leading centre for green finance in Asia. The Gre en Finance 
Action Plan was developed by the MAS  in 2019 to (i) strengthen the financial sector's resilience to 
environmental risks, (ii) develop green finance solutions, (iii) build knowledge and capabilities, 
(iv) support green FinTech innovation and (v) enhance data and disclosures. Some initiatives include 
a USD 2 billion Green Investment Programme to place funds with asset managers committed to 
deepen green finance activities and capabilities in Singapore, and Project Greenprint, a technology 
platform a imed at promoting a green financial ecosystem through mobilizing capital, monitoring 
commitment and measuring impact of green and sustainable projects.  
Question:  Could Singapore explain "green finance solutions"? Will these funds be 
available to other coun tries?  
Response 2:  MAS aims to catalyse the growth of green finance solutions that enable companies to 
invest in green projects and assets, and adopt sustainable business practices.  
MAS has introduced grant schemes to defray the costs of issuing sustainable bonds and green and 
sustainability -linked loans that are in line with international standards. MAS ' Sustainable Bond Grant 
Scheme (SBGS) and Green & Sustainability -Linked Loan Grant Scheme (GSLS) are available to all 
issuers who meet the eligib ility criteria, and do not differentiate based on the country domicile of 
the issuer or the country the proceeds are eventually applied  
6. Regional and Bilateral Trade Cooperation, Association of Southeast Asian Nations, 
pg. 11 
It is stated in the Government Report that "Singapore is an active member of the Association of 
Southeast Asian Nations (ASEAN). During Singapore's ASEAN Chairmanship in 2018, several 
initiatives were completed to boost ASEAN's attractiveness as a business  and investment destination, 
namely: (i) the ASEAN Single Window through which ASEAN Member States (AMS) are able to 
exchange trade documents electronically; (ii) the ASEAN -wide Self Certification Scheme, which 
saves time and costs for businesses; and (iii ) the ASEAN Agreement on E -Commerce, ASEAN Trade 
in Services Agreement and enhancements to the ASEAN Comprehensive Investment Agreement 
which boosted digital connectivity, improved market access in ASEAN's growing services sector and 
reduced investment imp ediments".  
Question: Could Singapore give further information regarding the key outcomes derived 
from the ASEAN Agreement on E -Commerce in terms of boosting digital connectivity, 
improved market access in ASEAN's growing services sector and reduced investm ent 
impediments?  
Response 3:  The Agreement has several key outcomes. First, the Agreement serves to promote 
regulatory and business certainty through the commitment to maintain laws and regulations for 
electronic transactions, taking into account applicabl e international conventions or model laws 
relating to e -commerce. Second , it facilitates cross -border e -commerce transactions by promoting 
paperless trading and logistics and flows of information across borders, as well as addressing barriers 
relating to l ocation of computing facilities. Third, it fosters an enabling environment of trust, 
confidence, and innovation via provisions on consumer protection and cybersecurity, as well as 
technological neutrality, a key principle in the Agreement.  
In preparation f or the Agreement 's entry into force in October 2021, ASEAN has developed a Work 
Plan to Facilitate the Implementation of the Agreement this year. The Work Plan seeks to establish 
a common and harmonised approach to operationalising the Agreement 's commitme nts and 
effectively delivering its value to spur the growth of the region 's online and digital sectors.  WT/TPR/M/413/Add.1  
 
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  THE SECRETARIAT REPORT  
2. Responding to the COVID -19 Pandemic, 2.3. Trade Agreements and Arrangements, 
2.3.2 Regional and preferential agreements, pg. 18, 2.39.  
It is stated in the Secretariat Report that "The Singapore -New Zealand FTA (1999) was updated in 
May 2019. The upgraded Agreement contains more flexible rules of origin for electronics, chemicals, 
pharmaceuticals, and processed fo ods; enhanced customs procedures and trade facilitation (goods 
released within 24 hours and within 4 hours for express consignments); and enhanced and more 
transparent SPS measures in the form of three Implementing Arrangements (IAs) . With these IAs, 
Singapore food exporters can benefit from improved market access and expedited clearance of 
exports. The IAs also enhance transparency of regulations, allowing Singaporean exporters to better 
comply with New Zealand's requirements. Regarding TBT measures, the upgraded Agreement also 
introduced a new framework for the negotiation of mutual recognition agreements (MRAs) and two 
new MRAs on electronic and electrical equipment and good manufacturing practices of medical 
products. The upgraded Agreement also contain s new chapters on e -commerce and regulatory 
cooperation".  
Question: Could Singapore elaborate on the updated agreement "The 
Singapore -New Zealand FTA (2019)"  in the scope of new chapters on e -commerce and 
regulatory cooperation?  
Response 4:  Under the Elect ronic Commerce chapter in the Agreement between New  Zealand and 
Singapore on a Closer Economic Partnership (ANZSCEP), Singapore and New Zealand companies will 
be able to transfer data across borders and will not be required to locate computing facilities in a 
market as a pre -requisite to do business there. Consumer data will also be protected through 
commitments to ensure personal information protection, development of mechanisms to facilitate 
trusted and secure data flows and online consumer pr otection. There are also provisions on 
cooperation in logistics and e -invoicing that serve to encourage the sharing of best practices.  
The Regulatory Cooperation chapter establishes a consultation mechanism which will enable 
companies to raise and resolve trade-related issues more quickly. Singapore and New Zealand also 
agreed to closer cooperation and promote good regulatory practices.  
 WT/TPR/M/413/Add.1  
 
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  BANGLADESH  
Trade Policy Review (TPR): Report b y the Secretariat  
Referring to the Chapter/Section of the Secretariat Report(WT/TPR/G /473) on TPR of  
Singapore:  
Chapter 1: Economic Environment  
1.1 Main Features of the Economy  
Question No. 1, 
Does Singapore have any plan to extend more facilities to workforce from other countries  
working in Singapore?  
Response 1:  The COVID -19 vaccination was made available to migrant workers since March  2021 
and an informational package in their native languages was distributed to help them understand the 
safety and benefits of vaccination. The Government has also start ed providing accessible primary 
healthcare services and is also working towards a steady -state medical support system to ensure 
holistic and accessible primary healthcare for migrant workers. More importantly, we seek to ensure 
care is delivered in a cultu rally sensitive way, including healthcare providers with multilingual 
translation capabilities and healthcare professionals attuned to the cultural needs of migrant 
workers.  
The Government has developed improved standards for new migrant worker dormitories  to 
strengthen resilience against future pandemics and enhance liveability. These new standards aim to 
reduce the risk of transmission of infectious diseases in dormitories, by i) modularising dormitory 
living, ii)  segmenting communal facilities, iii) impr oving ventilation in dormitory rooms and toilets, 
and iv)  facilitating early detection and quick isolation of unwell residents. The improved standards 
will complement existing safeguards such as enhanced Safe Living and Safe Working Measures at 
dormitories  and worksites, including the implementation of infection prevention and control  (IPC) 
practices, and the multi -layered strategy to detect, isolate and contain outbreaks. A longer -term 
medical support plan is also being developed to ensure migrant workers have access to 
comprehensive and timely primary care.  
Trade Policv Review (TPR): Report bv Singapore  
Other Regional and Bilateral FTAs and Economic Partnerships  
Question No. 2. 
Bangladesh imports USD2.5 -3.5 billion and export USD200 -300 million per annum from 
and to Singapore. Bangladesh has a large trade deficit with Singapore. So, there is a scope 
to find  out the potentials cooperation with Singapore. How the potential bilateral relations 
can improve the trade gap between the two countries?  
Respons e 2: Bangladesh and Singapore enjoy strong economic ties. Singapore looks forward to 
continuing our close relations with Bangladesh and growing our bilateral trade as it diversifies its 
economy across different sectors. We welcome further conversations wit h officials from the 
Bangladesh Ministry of Commerce on this issue.  
 WT/TPR/M/413/Add.1  
 
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  INDONESIA  
PART I: QUESTIONS REGARDING THE SECRETARIAT REPORT  
2 TRADE AND INVESTMENT REGIMES  
2.3.2 Regional and preferential agreements  
Page 35 Para 2.29  
Ongoing work to address and streamline non -tariff measures (NTMs), which included the 
endorsement of the Guidelines for the Implementation of ASEAN Commitments on NTMs on Goods;  
Question:  
Indone sia requires further explanation from Singapore on how to deal with related 
stakeholders in streamlining the NTMs domestically, particularly in implementing the 
Guidelines for the Implementation of ASEAN Commitments on NTMs on Goods.  
Response 1:  Addressing  non-tariff measures (NTM) is a priority area of interest for ASEAN. The 
Guidelines for the Implementation of ASEAN Commitments on NTMs on Goods offers four key 
principles to guide Parties ' operationalization of the ASEAN Trade in Goods Agreement, namely 
(i) necessity and proportionality; (ii) consultations and engagement; (iii) transparency, non -
discrimination; and (iv) periodic review. These are meant to help ASEAN Member States improve 
transparency and minimize trade -distortive effects of NTMs.   
Singapor e's stakeholders are aware and supportive of the need to maintain and strengthen supply 
chains. The principles reflected in the Guidelines are also aligned with those referred to by Singapore 
government when drafting new regulations. Singapore 's stakeholde rs can provide feedback on any 
new measures that are being considered via the REACH platform ( www.reach.gov.sg ). The REACH 
platform offers an alternative avenue to engage and connect with our stakeholders on a wider scale.  
3 TRADE POLICIES AND PRACTICES BY MEASURE  
3.1.2 Rules of origin  
Page 44 Para 3.13  
There were no changes to the regulations on rules of origin during the reporting period. Singapore 
does not apply MFN rules of origin nor require certificates of origin for such imports. Preferential 
rules of origin are applied in accordance with the requirements set out in the free trade agreements 
(FTAs) to which Singapore is a party.  
Question:  
Indonesia requests further information on how Singapo re oversees the utilization of COO 
Form D and other COO Form under ASEAN + 1 FTAs every year, while Singapore does not 
require the said documents for imports.  
Response 2:  For those goods that are eligible for preferential tariff treatment, the proof of ori gin 
may be a Preferential Certificate of Origin (PCO) from the applicable agreements or Free Trade 
Agreements (FTA), or an Origin Declaration under ASEAN Wide Self Certification in the ASEAN Trade 
in Goods Agreement (ATIGA). The relevant documents are subm itted to Singapore Customs.  
3.3.1.2 Tax and non -tax incentives  
Page 58 Para 3.62  
Some incentives schemes are targeted to specific industries or activities, such as financial services, 
tourism, shipping and maritime services, processing services, R&D, he adquarters activities, legal 
services, e -commerce, and events organization.  WT/TPR/M/413/Add.1  
 
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  Questions:  
Please provide detailed information on the form of incentives offered to these specific 
sectors, as well as the economic costs (revenue forgone) and its effectiveness on  the 
sector 's growth.  
Response 3:  Please refer to the Secretariat Report - Table A3.1 Selected tax and non -tax incentives, 
and SME support, 2020 (page 122), and paragraphs 4.179 and 4.181 (pages 116 and 117), for more 
detailed information on the different types of incentives that are avail able.  
More information on these incentives and their effectiveness on the sector 's growth are available on 
the websites of the respective administering agencies.  
Could Singapore explain the alignment of the incentive programme for certain sectors 
with Sin gapore's commitment in SCM Agreement?  
Response 4:  In line with the SCM Agreement, Singapore 's incentive programmes remain available 
to companies in Singapore across different sectors, and open to both local and foreign companies. 
The incentive programmes a re also not contingent on the recipient company 's export performance 
or local content requirements.  
3.3.2.2 Technical regulations  
Page 60 Para 3.73  
According to the Secretariat, as of the end of 2020, about 270 (or 32%) standards were referred to 
in Singapore 's technical regulations. Indonesia is interested in learning more about these standards, 
please provide information on links/websites related to:  List of standards contained in 
technical regulations; and  Applicable conformity assessment mechanism . 
Response 5:  About 270 national standards are referred in technical regulations in Singapore, of 
which 60% are adoptions of international and overseas standards. Details of some widely adopted 
international and Singapore standards, and industry -related te chnical references can be found at:  
https://www.enterprisesg.gov.sg/quality -standards/standards/for -companies/standards -and-
technic al-references . 
Page 60 Para 3.75  
Indonesia also requests information on links/websites regarding the list of low -risk 
products that can accept Self Declaration of Conformity (SDoC), as well as SDoC 
implementation mechanisms/procedures.  
Response 6: The list  of low -risk products including information on the SDoC process can be found 
in the guide titled, "Overview of SDoC Application and Renewal " at 
https://www.consumerproductsafety.gov.sg/images/cpsr -resources/guide -to-sdoc-application -
and-renewal.pdf . 
Other relevant information pertaining to registration and renewal of Controlled Goods can be found 
at https://www.consumerproductsafety.gov.sg/suppliers/cpsr/resources  
PART III: GENERAL QUESTIONS  
Questions:  
Is the Singapore government providing specific support/programs for the  inclusion of 
MSMEs in the global value chain, including for women entrepreneurs with limited access? 
If so, please explain in detail.  WT/TPR/M/413/Add.1  
 
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  Response 7:  We support and encourage the digital transformation of businesses with a range of 
initiatives that reduce the  complexity of evolving technologies, through the SMEs Go Digital 
Programme. During the period of COVID -19 pandemic in 2020, digital solutions were pre -approved 
to ensure business continuity during the pandemic. These COVID -19 solutions included remote 
working solutions such as laptop bundles, collaboration software; temperature screening solutions; 
visitor management solutions; and healthcare teleconsultation solutions.  
For more information on the SMEs Go Digital programme, please visit 
www.imda.gov.sg/SME sGoDigital.  
 WT/TPR/M/413/Add.1  
 
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  SAUDI ARABIA  
PART I: QUESTIONS REGARDING THE Secretariat Report  
4.4.1.4.1 Fintech  
Page 101 (Para 4.98)  
"… Singapore's fintech sector has grown exponentially, from 50 fintech firms in 2015 to more than 
1,000 in 2020. " 
Question:  
What are the related capital market FinTech sectors/models which contributed to such 
high growth?  
Response 1:  We do not have an official breakdown of FinTech firms by sector.  
Page 101 (Para 4.100)  
"… Its objective is to evaluate regulations or policies that may impede beneficial new technologies 
or business models, rather than product testing that assesses consumer uptake and commercial 
viability. " 
Question:  
How do you access the applicability, reliability and sustainability of ne w technologies (if 
FinTech products developments and testing are not available during the application)?  
Response 2:  Paragraph 4.100 of the Secretariat Report emphasises the objectives of the regulatory 
sandbox. The sandbox does not preclude the use of prod uct testing or the testing of consumer 
uptake and commercial viability, which are simply other means to achieving the sandbox 's objective.  
Page 101 (Para 4.101 ) 
"… The Sandbox Express is currently available for insurance brokers and recognized market 
operators. " 
Question:  
What are the main differences between the regular Sandbox and Sandbox Express from 
the application process and privileges perspectives?  
Response 3:  The regular sandbox is applicable to any activities regulated by the MAS. Each sandbox 
can be customized according to the needs of the experiment, including the sandbox boundaries and 
regulatory reliefs.  
The Sandbox Express is currently limited to 2 activities regulated by the MAS. The sandbox 
constructs, including the boundaries and regulator y reliefs, are pre -defined and fixed. No 
customization is allowed. The applicant must also declare that it can fully meet and operate within 
the sandbox constructs.  
What are the main rationales of the Sandbox Express is it only available for insurance 
sectors and recognized market operators?  
Response 4:  The MAS has taken a phased approach by starting with an initial set of activities 
regulated by the MAS, and will continue to review whether appropriate constructs could be 
established to facilitate meaningf ul experiments for other MAS -regulated activities while containing 
risk. A phased approach will also allow the MAS to test the relevance and risks of Sandbox Express 
as well as resolve potential operational challenges.  WT/TPR/M/413/Add.1  
 
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  Page 102 (Para 4.106)  
"… MAS announce d that it will commit SGD 250 million over the next three years under the enhanced 
FSTI scheme (FSTI 2.0) to accelerate technology and innovation -driven growth in the financial 
sector. " 
Question:  
Is the FSTI scheme solely setup by MAS or it is a jointly se tup with Singapore government 
or other governmental entities? If it is the latter, who are these entities?  
Response 5:  The FSTI is set up and administered by the MAS. Applicant eligibility is dependent on 
the type of support sought under the FSTI scheme. F urther information can be found here: 
https://www.mas.gov.sg/schemes -and-initiatives/fsti -scheme.  
What are the main selection criterions for the applicants ' eligibility for the FSTI scheme?  
Response 6:  The FSTI is set up and administered by the MAS. Applic ant eligibility is dependent on 
the type of support sought under the FSTI scheme. Further information can be found here: 
https://www.mas.gov.sg/schemes -and-initiatives/fsti -scheme.  
Page 102 (Para 4.108)  
"… As at March 2021, MAS has signed 35 FinTech Cooper ation Agreements with counterparts from 
around the world. These Agreements provide a framework for closer cooperation on fintech and 
promote innovation in financial services in the respective markets. " 
Question:  
What are the common joint projects with your  international counterparts on FinTech 
matters (particularly related to capital market industry)?  
Response 7:  The MAS has collaborated with international counterparts on projects such as the 
API Exchange (APIX), Business sans Borders (BSB), and Project Ubi n. Further information on these 
projects may be found in the following links:  
https://www.mas.gov.sg/development/fintech/api -exchange . 
https://www.mas.gov.sg/development/fintech/business -sans-borders . 
https://mas.gov.sg/schemes -and-initiati ves/project -ubin. 
TRADE POLICY REVIEW OF SINGAPORE  
WRITTEN QUESTIONS FROM KSA - SAMA  
PART I: QUESTIONS REGARDING THE SECRETARIAT REPORT  
CHAPTER NUMBER AND TITLE: 4.4.1.4 Financial technology (fintech), e -payments and 
cryptocurrency regimes  
P8 Para 11  
"There are, however, some limitations on foreign ownership and on business scope, and certain 
residency restrictions on sectors considered as strategic and/or critical for national security, such as 
broadcasting, domestic news media, retail ban king, legal and accounting services, ports and airports, 
and residential property ownership. " 
P102 Para 4.108 states  WT/TPR/M/413/Add.1  
 
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  "According to MAS, the Agreement have yielded tangible outcomes, including the internationalization 
of Singapore's fintech companies, the anchoring of foreign fintech companies in Singapore, and joint 
innovation projects between MAS and its international counterparts. " 
In conjunction:  
Singapore schedule of commitments states under Commercial banks limitations on access: 
"A single/related gr oup of foreign shareholders can only hold up to 5 per cent of a local bank's 
shares. The limit on aggregate foreign ownership of each domestic bank's shares has been increased 
from 20 per cent to 40 per cent. " 
Questions:  
How does MAS find a complementarit y between commitment stipulated in the schedules 
of commitments (namely the limitations on foreign ownership) and the welcoming 
approach towards "anchoring " of foreign fintech in Singapore?  
Response 8:  The foreign ownership limitations referred to under Si ngapore 's schedules of 
commitments pertains to banks. FinTechs that do not conduct banking activities will not fall within 
the scope of these schedules of commitments. However, FinTechs that are set up in Singapore are 
required to apply for relevant licenc es if they intend to conduct regulated activities. For instance, a 
Capital Markets Services (CMS) Licence for activities regulated under the Securities and Futures Act.  
Schedules of commitments stipulate that "New foreign banks may only establish as offsho re bank 
branches or representative offices. "; does MAS or the relevant regulatory framework, differentiate 
between licencing fintech entrants based on offshore/in -shore domicile.  
Response 9:  The quoted limitation under Singapore 's schedules of commitments  pertain to banks, 
and not FinTechs. FinTechs that do not conduct banking activities will not fall within the scope of 
these schedules of commitments. However, FinTechs that are set up in Singapore are required to 
apply for relevant licences if they intend  to conduct regulated activities. For instance, a Capital 
Markets Services (CMS) Licence for activities regulated under the Securities and Futures Act.  
TRADE POLICY REVIEW OF SINGAPORE  
WRITTEN QUESTIONS FROM KSA - ECZA  
PART I: QUESTIONS REGARDING THE SECR ETARIAT REPORT  
CHAPTER 3: TRADE POLICIES AND PRACTICES BY MEASURE (Free Trade Zones (FTZs))  
Page #56 (Para #3.49.)  
FTZs are located at seaports and the main airport, thus offering companies quick access to 
transportation infrastructure. Currently, there ar e three private FTZ authorities, which administer, 
maintain, and operate the FTZs … etc.  
Questions:  
Are the three FTZ authorities mentioned above participate in setting down the regulations 
for these FTZ?  
Response 10:  The Government sets regulations for FTZs in consultation with the relevant 
stakeholders, including the private FTZ authorities.  
Is there any role that Enterprise Singapore - ESG play on FTZs or Free Trade Zones Act 
(1969)? what sort of alighnment is ther e between ESG and Singapore customs?  WT/TPR/M/413/Add.1  
 
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  Response 11:  Enterprise Singapore (ESG) does not regulate FTZs or administer the Free Trade 
Zones Act. Both ESG and Singapore Customs work closely with other relevant agencies to support 
and facilitate Singapore 's entr epot trade and transhipment activities.  
 WT/TPR/M/413/Add.1  
 
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  COLOMBIA  
Summary  
Paragraph 7. The challenges facing Singapore's economy in the near future  include the possible 
slowdown in the recovery of global merchandise trade, the decline in exports of transport and travel -
related services due to prolonged global mobility restrictions, the continuation of trade tensions 
affecting major economies, as well  as uncertainty about the evolution of the COVID -19 pandemic. 
Given its status as an international financial center, Singapore is exposed to financial market 
volatility, especially as significant capital inflows over the years have resulted in substantial foreign 
liabilities. In the medium term, structural challenges include a rapidly aging population, the need to 
further improve income distribution, skills supply and demand mismatches in the labor market, and 
adapting to technological changes. To address t hese challenges, Singapore has embarked on an 
economic transformation program based on the recommendations issued in 2017 by the Committee 
on the Future Economy. The goal is to develop a value -generating economy that is open and 
connected to the world, by building skills and capabilities and supporting innovation and digitization. 
The strategies adopted to achieve this goal include the implementation of 23 Sector Transformation 
Maps, representing around 80% of Singapore's GDP . 
1. The Government of Colombia would like to know if there is any source or reference 
material on the economic transformation program and the 23 Sector Transformation Maps 
referred to by the Government of Singapore to overcome the challenges in the near future.  
Response 1:  Please refer  to the following websites for the reference materials on the Committee 
on the Future  Economy and the Industry Transformation Maps:  
Report of the Committee on the Future Economy:  
https://www.mti.gov.sg/FutureEconomy/Resources/CFE -Report  
Industry Transformation Maps:  
https://www.mti.gov.sg/ITMs/Overview  
Paragraph 17. Export controls are maintained on a number of products for safety, security, health 
and environmental protection reasons, or to meet international commitments. There are no export 
taxes or charges. To overcome the size constraints of its dome stic market, Singapore supports the 
expansion of Singapore -based companies into foreign markets through export promotion and 
marketing assistance, financial support and tax incentives. For example, under the Global Traders 
Program, companies benefit from a  reduced corporate income tax rate on qualifying income from 
international trading activities for a period of three to five years.  
2. Could the Government of Singapore indicate whether the support measures for 
expansion into international markets are appli ed according to the size or sector to which 
the companies established in your country belong?  
Response 2:  Enterprise Singapore (ESG) has support measures for expansion into international 
markets including Double Tax Deduction for Internationalisation (DTDi ), Global Trader Programme 
(GTP) and Market Readiness Assistance (MRA) grant.  
The support measures are available to companies across sectors and sizes. For details, please 
see: https://www.enterprisesg.gov.sg/financial -assistance/tax -incentives/tax -incentives/double -
tax-deduction -for-internationalisation  
https://www.enterprisesg.gov.sg/financial -assistance/tax -incentives/tax -incentives/global -
trader -programme  
https://www.enterprisesg.gov.sg/financial -assistance/grants/for -local-companies/market -
readiness -assistance -grant  
There is no restriction on the sector th at the applicant company must be from.  WT/TPR/M/413/Add.1  
 
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  3. What is the time frame for the application of the measures?  
Response 3:  Both the Double Tax Deduction for Internationalisation (DTDi), Global Trader 
Programme (GTP) schemes are available for a period of 5 year and can be renewed if they remain 
relevant and effective.  
Support for expansion into international markets through the Market Readiness Assistance scheme 
is currently available up till 31 March 2023.  
2.3.2 Regional and Preferential Agreements  
Table 2.1 Participation in RTAs (notified and non -notified), as of 16 April 2021  
4. Regarding regional agreements in force that have not been notified to the WTO, such 
as Sri  Lanka - Singapore in force since 1/5/2018 and the ASEAN Framework Agreement 
on Se rvices (AFAS) in force since 12/08/1998, is there any particular reason that has 
prevented the notification of these RTAs to the WTO?  
Response 4:  The ASEAN Framework Agreement on Services (AFAS) has not been notified to the 
WTO. ASEAN Member States are con tinuing discussions on when to notify the AFAS to the WTO, 
noting that the final financial services and air transport packages of Schedules of Commitments have 
yet to be signed. Preparations for notification of the Sri Lanka -Singapore FTA are ongoing.  
Paragraph 2.29. The AEC 2025 Project aims to transform ASEAN so that it becomes "(A) a highly 
integrated and cohesive economy; (B) a competitive, innovative and dynamic ASEAN; with 
(C) enhanced sectoral connectivity and cooperation; that is (D) resilient, incl usive and people -
centered; and becomes (E) a global ASEAN." Recently, ASEAN conducted a mid -term stocktaking on 
implementation progress, which found that overall, between 2016 and 2020, satisfactory progress 
had been made in the implementation of the Bluep rint. To date, ASEAN has implemented 54.1% of 
the MLAs outlined in the AEC 2025 Project. Some of the achievements are listed below:  
- the promotion of good regulatory practices to simplify and ensure consistency of regulations to 
reduce costs and burden on  business. In 2019, the baseline study on ASEAN regulatory management 
systems was conducted, outlining the initiatives taken by member states to simplify regulations;  
5. The Government of Colombia would like to know whether the 2019 ASEAN 
Regulatory Manage ment Systems Benchmarking Study is available for consultation and 
whether it is publicly available through the ASEAN Regulatory Management Systems 
Benchmarking Study, and whether it is publicly available through the ASEAN Regulatory 
Management Systems Benc hmarking Study, which is available through the ASEAN 
Regulatory Management Systems Benchmarking Study.  
Response 5:  The 2019 ASEAN Regulatory Management System (RMS) Baseline Study was jointly 
developed by the Economic Research Institute for ASEAN and East Asia (ERIA) and the ASEAN 
Secretariat, for ASEAN Member States ' (AMS) reference. In mapping out AMS ' RMS, the study 
provided (i) an understanding of the diversity of AMS ' regulatory frameworks and efforts undertaken 
to streamline regulations; and (ii) reco mmendations, both country -specific and regional, to improve  
RMS within ASEAN.  
The study pointed out examples of recent regional initiatives including the ASEAN Solutions for 
Investment, Services, and Trade (ASSIST) ( https://assist.asean.org/en/home ), which allows firms 
to lodge cross -border issues related to the implementation of ASEAN economic agreements.  
- the promotion of global value chains through the elimination of discriminatory and formal market 
acces s restrictions, trade facilitation and policy coherence, through the Roadmap for Enhancing 
Participation in Global Value Chains in ASEAN;  
6. Could the Government of Singapore elaborate on what are the main thrusts or measures 
incorporated in the Roadmap f or Enhancing Participation in Global Value Chains in ASEAN?  WT/TPR/M/413/Add.1  
 
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  Response 6:  The Work Plan on Enhancing GVC Participation in ASEAN (2016 -2025) recognises the 
cross-cutting and multifaceted nature of Global Value Chains (GVCs). It brings together different 
strands of work under various ASEAN sectoral bodies to undertake a more holistic approach to GVCs. 
The Work Plan is for ASEAN Member States ' (AMS) reference and its priority areas include (a) 
enhancing participation in GVCs by creating an enablin g policy environment, (b) improving statistics 
and analytical capacity in support of GVC related activities, (c) improving trade in services within 
GVCs, (d) making GVCs inclusive by promoting Small and Medium Enterprises (SME), and (e) 
facilitating readin ess for tomorrow 's GVCs.  
3.1.4 Other charges affecting imports  
3.1.4.1 Goods and Services Tax (GST)  
Para 3.22. "... Since January 2020, GST has been extended to imported services; for business -to-
business services imports and business -to-consumer digital services the tax is levied through a self -
assessment mechanism and a foreign supplier registration mechanism, respectively. GST -exempt 
supplies include most financial services, the sale or lease of residential real estate, and gold and 
precious metals suit able for investment, and from 1 January 2020, digital payment currencies that 
are exchanged for other currencies."  
7. Could the Government of Singapore indicate What is the amount of the tax levied on 
the services to which the tax applies? With which enti ty is the registration of foreign 
service suppliers made? What is the procedure for making the registration of foreign 
service suppliers?   
Response 7:  GST is a consumption tax levied on both imported and domestically supplied goods 
and services at the stan dard rate of 7%  – this includes imported services which are subject to tax 
under the reverse charge ( 'RC') mechanism and the overseas vendor registration ( 'OVR') mechanism 
from 1 Jan uary 2020. The introduction of GST on imported services from 1 Jan uary 2020 ensures 
that the same GST treatment applies, whether the service consumed in Singapore is bought from 
suppliers in Singapore or from overseas suppliers.  
Currently, overseas service suppliers are required to register for GST under the OVR regime if the y 
have an annual global turnover exceeding S$1 million and make business -to-consumer supplies of 
digital services to customers in Singapore exceeding S$100,000. From 1 Jan uary 2023, the 
OVR  regime will be extended to low -value goods imported into Singapor e and imported business 
to-consumer non -digital services.  
Overseas service suppliers can register for GST by completing the GST application form for Overseas 
Vendors via the webpage https://go.gov.sg/ovr -regn. Gen erally, the application will be processed 
by the Inland Revenue Authority of Singapore (IRAS) within 10 working days, and the overseas 
service supplier will be notified via email if the application is approved. Further details on the OVR 
mechanism can be f ound on IRAS 's webpage on 'GST on Imported Services '. 
3.1.1.2 Trade Facilitation  
In paragraph 3.7. "For more than a decade, Singapore has implemented various programs to 
facilitate trade while making it more secure. Its Integrated Risk -based Trade Facilita tion System 
(TradeFIRST), established in 2011, provides an integrated framework for assessing companies 
applying to benefit from a Singapore Customs Department program and determining the level of 
trade facilitation to be granted. Under the TradeFIRST crit eria, companies are assessed and classified 
into five categories: basic, standard, intermediate, superior, and premium. The higher a company's 
classification, the higher the level of trade facilitation it enjoys (table 3.1). A company that obtains 
the prem ium classification enjoys the trade facilitation measures corresponding to its category, as 
well as those granted to all other lower categories. All registered companies receive the facilities 
corresponding to the basic category".  
8.  Could Singapore share  information on what are the criteria in the Integrated Trade 
Facilitation System (TradeFIRST) for determining the classification of companies applying 
to benefit from a Customs Department program?  WT/TPR/M/413/Add.1  
 
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  Response 8:  The TradeFIRST scheme criteria are formulated with reference to the World Customs 
Organization 's SAFE Framework of Standards to Secure and Facilitate Global Trade (SAFE 
Framework). The 6 broad assessment categories are: Company Profile, Procedures and Processes, 
Security, Inventory Management, Complia nce, and Other Scheme -Specific requirements.  
Singapore Customs grants trade facilitation measures to companies according to the company 's 
TradeFIRST scheme classification. This classification is determined by the company 's ability to meet 
the relevant asse ssment criteria.  
GOVERNMENT REPORT - DOCUMENT WT/TPR/G/413  
3. ECONOMIC OUTLOOK AND PATH TO RECOVERY  
3.5. Responding to new realities of a changed world. As part of the SCF's work, the Emerging 
Stronger Task Force (EST) was set up in May 2020 to identify systemic changes arising from the 
COVID -19 pandemic; examine the impact of these changes on Singapore's  economy and the 
resulting challenges and opportunities; and make recommendations on how Singapore should 
readjust, rethink or recompose its economic strategies to maintain economic resilience and give rise 
to new sources of dynamism in the post -pandemic w orld. Drawing on the collective experience and 
strength of stakeholders from different sectors, the EST tested a new model of public -private 
partnership: the Singapore United Action Alliances. These Alliances are catalysts for new and creative 
ideas and se ek to deliver minimum viable deliverables to validate novel ideas, models and business 
solutions in areas such as sustainability, robotics and safe tourism experiences. In May 2021, the 
EST presented its vision and recommendations to create a "Virtually Un limited Singapore" ("Virtually 
Unlimited Singapore"), offering endless opportunities for our nation, our businesses and our people. 
The recommendations will be integrated into the work of the SCF.  
9. Recognizing that the creation of collaborative governanc e spaces is a plausible 
strategy to advance the solution of complex social problems, could the Singapore 
government please elaborate on the Singapore United Singapore Partnerships for Action 
initiative, in particular on the type of organizations involved, the methodology used to 
host the initiatives of the different stakeholders and the decision -making process?   
Response 9:  Alliances for Action (AfAs) are industry -led coalitions, working in partnership with the 
Government, to collaboratively seize new oppor tunities or address common challenges for the 
Singapore economy. Each AfA takes a different approach, depending on the problem statement that 
it is working on. Through this process, the AfAs bring together businesses, industry stakeholders, 
Institutes of H igher Learning, the Labour Movement, non -government organisations (NGOs), and 
government agencies, to work in private -public partnership towards a common goal.  
For more details on the AfAs, please refer to the following website:  
https://emergingstronger.sg/assets/pdf/EST%20Report_Single%20Page.pdf  
https://www.mti.gov.sg/futureeconomy/afas  
Is this initiative regulat ed by any Singapore government entity or a private entity or a 
public -private partnership?  
Response 10:  AfAs are industry -led coalitions, working in partnership with the Government, to 
collaboratively seize new opportunities or address common challenges for the Singapore economy. 
Each AfA takes a different approach, depending on the problem statement that it is working on. 
Through this process, the AfAs bring together businesses, industry stakeholders, Institutes of Higher 
Learning, the Labour Movement, non -government organisations (NGOs), and government agencies, 
to work in private -public partnership towards a c ommon goal.  
For more details on the AfAs, please refer to the following website:  
https://emergingstronger.sg/assets/pdf/EST%20Report_Single%20Page.pdf  
https://www.mti.gov.sg/futureeconomy/afas  WT/TPR/M/413/Add.1  
 
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  KAZAKHSTAN  
3.3.3 Sanitary and Phytosanitary (SPS) requirements  
In paragraph 3.106 of the Singapore Trade Policy Review prepared by the WTO Secretariat, it is  
stated that all plant consignments must be accompanied by phytosanitary certificates issued by the 
competent authorities of the country of origin.  
According to International Standard for phytosanitary measures ISPM 32 National plant protection 
organizati ons are required to categorize commodities according to their pest risk when considering 
import requirements. This categorization should help in identifying whether further pest risk analysis 
is required and if phytosanitary certification is needed.  
In thi s regard, could Singapore provide the answer to whether their country has a division 
of plant products into categories based on pest risk, which does not require a 
phytosanitary certificate when exported to Singapore?  
Response 1:  Plant products that are im ported into Singapore for the sole purpose of consumption 
or processing into food material are deemed low pest risk and do not require a phytosanitary 
certificate. Examples of such products are grains, beans, spices, fresh fruits and vegetables from 
non-South American Tropics, and other stored products for consumption. Wood products (e.g. 
timber, logs, furniture made from wood, rattan products) and cut flowers from non -South American 
Tropics are also deemed low pest risk and will not require a phytosanitary  certificate.  
We constantly review the pest risks of imported commodities, and our import conditions may be 
updated as required. More details of our import conditions can be found on NParks ' weblink: 
www.nparks.gov.sg/services/plant -health -services  
4.4 Services  
What is the procedure for obtaining a license (step -by-step procedure) in Singapore? Does 
legislation provide for the possibility of re -applying if the license/permit is refused? Is it 
possible for the applicant to make technical corrections (if any) withi n a reasonable period 
of time and update the application by providing the necessary additional information?  
Response 2:  The procedures to apply for a banking licence can be found on the MAS website: 
https://www.mas.gov.sg/regulation/Banking/Licensing -and-Authorisation -for-Banking -Business.  
Prior to the submission of a formal application, applicants are encouraged to contact the Banking 
Department of MAS about their plans, in order to identify potential issues that may affect the 
proposed application. To fac ilitate the processing of the application, applicants should ensure the 
completeness and accuracy of the information submitted upon application. Legislation relating to the 
application of a bank licence (including appeals) are set out in section 7 and 11A of the Banking 
Act (Cap. 19): https://legisgov.agc.gov.sg/Act/BA1970 . 
4.4.1.4 Financial technology (fintech), e -payments and cryptocurrency regimes  
How is the security of digital data of the users of p ublic services ensured?  
Response 3 : The Singapore government has put in place a Public Sector Data Security Regime, 
and takes steps to continually improve and strengthen:  
Audit and third -party management processes  
Data incident management processes  
Data security organisational structures  
Transparency of data security regime  WT/TPR/M/413/Add.1  
 
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  Technology and process measures to protect data  
Competencies/capabilities of public service officers  
The government has also recently launched the Data Privacy Protectio n Capability Centre in 
December 2020 to deepen the government 's expertise in data privacy protection technologies.  
Government agencies use Singpass, Singapore 's national digital identity managed by the 
Government Technology Agency (GovTech), as the authent ication system for digital services.  
The Singpass Two -Factor Authentication (2FA) methods – Singpass One -Time Password (OTP) sent 
via SMS, Face Verification, and software token – provide an additional layer of security to better 
protect users ' personal dat a. 
The private sector, including financial services institutions, can also opt to implement Singpass as 
the authentication system for their digital services.  
MAS requires financial institutions to protect customer information and to put in place essential cyber 
security practices to manage cyber threats. MAS has also issued guidelines on risk management 
practices. These guidelines set out risk management principles and best practices to guide financial 
institutions in establishing sound and robust technolog y risk guidance and oversight, as well as 
maintaining IT and cyber resilience.  
4.4.2 Telecommunication services  
According to paragraph 4.119 of the Review from the WTO Secretariat, foreign 
participation in telecommunications services is permitted in Singap ore. Is it possible to 
refine the share of maximum foreign participation in this area? What is the share of 
foreign participation in Singtel, Starhub, M1?  
Response 4:  The links to the annual reports of SingTel and Starhub , where the lists of their 
shareho lders can be found, are below.  
https://ir.starhub.com/FormBuilder/_Resource/_module/gZSLLgdlcU638zpQWaYGmQ/StarHub -AR-
2020/Full -Report.pdf   
https://www.singtel.com/content/dam/singtel/investorRelations/annualReports/2021/singtel -
annual -report -2021.pdf   
M1 is not required to publish an annual report as it is not a publicly listed company.  
__________  