Coulton’s Catch Up

October 16 2016 - 5:00am

Free Trade Agreement

In conjunction with Singaporean Prime Minister Lee Hsien Loong’s visit to Canberra last week, the Coalition Government delivered a comprehensive update of Australia’s second oldest free trade agreement, creating significant opportunities for local service providers and professionals to expand their business. The updated Singapore-Australia Free Trade Agreement (SAFTA) delivers greater access for our engineers, accountants, financial planners, lawyers, and education providers to sell their services to Singapore, putting local exporters on an equal or better footing than our foreign competitors. Australia exported $1.71 billion of professional and business services to Singapore in 2015.  The potential for service exports is significant, as Asia’s emerging middle class is projected to grow from 600 million today to 3 billion by 2030.

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