Mr R Dhinakaran: To ask the Minister for Trade and Industry (a) what is the progress of the ASEAN Framework Agreement on Services (AFAS) and whether it can be completed in totality by the 2015 deadline; and (b) which sectors within services has Singapore committed to for complete foreign equity participation.
Oral Reply by Mr Lim Hng Kiang, Minister for Trade and Industry
To date, Member States of the Association of Southeast Asia Nations (ASEAN) have completed 8 out of 10 packages of services liberalisation under the ASEAN Framework Agreement on Services (AFAS). The 8th package was completed in August 2012, and ASEAN Member States are currently working to finalise the 9th package by the end of 2013 and the 10th package by 2015. ASEAN Member States remain fully committed to meet the eventual level of liberalisation that they have pledged to meet by 2015.
As of the 8th AFAS package of services liberalisation, Singapore has committed to open 71 subsectors under 10 services sectors for complete foreign equity participation. These subsectors include Integrated Engineering Services, Computer-Related Services, Research and Development Services, Construction Services, Wholesale of Motor Vehicles, Franchising Services, Adult Education Services, Dental Services, Hotel Lodging Services, Tourist Guide Services, Entertainment Services, Shipping Agency Services, and International Towage.