Turkey-Singapore Free Trade Agreement (TRSFTA)

Türkiye: A land of opportunity

The TRSFTA is the key pillar of Singapore’s trade relations with Türkiye, and Türkiye’s first comprehensive Free Trade Agreement in a single undertaking. It was signed on 14 November 2015 and entered into force on 1 October 2017.

The TRSFTA helps more Singapore companies to leverage Türkiye’s fast-growing economy, as well as strategic location as a gateway to larger regional markets in Europe, Central Asia, and the Middle East. Conversely, Turkish companies are also encouraged to use Singapore as a launchpad to access the Southeast Asian market, which is expected to be the world’s fourth largest economy by 2030, with a growing consumer market of about 670 million.

Then-Prime Minister Lee Hsien Loong and Turkish President Recep Tayyip Erdoğan shaking hands ahead of the signing of the Turkey-Singapore Free Trade Agreement (TRSFTA) in Türkiye on 14 November 2015.

Key features of the TRSFTA

• Tariff elimination and improved market access. Up to 95% of Singapore’s originating exports will enjoy tariff-free access into Türkiye by 2027. Singapore exporters can also claim for preferential tariff treatment on a self-certification basis, reducing time and administrative costs.

• Trade in services. Singapore’s services companies benefit from enhanced market access to Türkiye’s services market in areas such as construction services and distribution services, amongst others.

• Greater customs facilitation. Singapore exporters enjoy greater efficiency and predictability in customs procedures, in the areas of transparency and advanced rulings.

• Electronic commerce. Businesses and consumers benefit from electronic transmissions that are free from customs duties, as well as non-discriminatory treatment of digital products.

• Government procurement opportunities. Singapore companies enjoy non-discriminatory treatment when bidding for government projects in all of Türkiye’s metropolitan municipalities in key services sectors of interest, including construction, telecommunications, sewage and refuse disposal, sanitation services.

• Investment opportunities and protection. Singapore investors enjoy non-discriminatory treatment across a range of sectors, including retail and construction services. In addition, Singapore investors enjoy greater protection and security in their investments, such as against unlawful expropriation without compensation, as well as freely conduct capital transfers.

For more information on the features of the TRSFTA, please refer to the full press release.

To check if your product is eligible to enjoy tariff concessions under the TRSFTA, please use the tariff finder.