Debated in Parliament on 20 Oct 2022.
Ms Sylvia Lim asked the Minister for Trade and Industry what is the Ministry’s assessment of the take-up rates of the provisions of the Comprehensive and Progressive Agreement for Trans-Pacific Partnership by companies, in particular, small and medium-sized enterprises.
The Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) has entered into force for Australia, Canada, Japan, Mexico, New Zealand, Peru, Singapore and Vietnam.1 Our total trade with these markets has grown from around S$108 billion in 2019, the first year after the CPTPP entered into force, to S$118 billion in 2021.
MTI, EnterpriseSG and the Singapore Business Federation actively reach out to companies to help them understand and utilise Free Trade Agreements (FTA), including through outreach sessions. EnterpriseSG also has a one-stop online portal that companies can use to access information on tariff and non-tariff measures across our network of FTAs.
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