An Introduction to Tax Treaties Across Asia In this issue of Asia Briefing Magazine, we examine the different types of trade and tax agreements that exist between Asian nations. These include bilateral investment agreements, bilateral double taxation agreements and free trade agreements that cover all companies directly active in Asia. Free trade agreements are treaties that facilitate trade and investment between two or more economies. The Gulf of Singapore Cooperation Council (GSFTA) Free Trade Agreement came into force in September 2013. The free trade agreement aims to improve Singapore`s growing economic relations and trade with the Gulf Cooperation Council (GCC), which consists of six Middle Eastern countries, Bahrain, Kuwait, Oman, Qatar, Saudi Arabia and the United Arab Emirates. GSFTA eliminates most tariffs (up to 99%) Singapore`s exports to the GCC. Learn how to take advantage of tariff concessions with the United Arab Emirates. The IIA Mapping Project is a cooperative initiative between UNCTAD and universities around the world to represent the content of II A. The resulting database serves as a tool to understand trends in CEW development, assess the prevalence of different policy approaches, and identify examples of contracts. The Mapping of IIA Content allows you to browse the results of the project (the page will be regularly updated as new results become available).
Please quote: UNCTAD, Mapping of IIA Content, available to investmentpolicy.unctad.org/international-investment-agreements/iia-mapping More information: Mapping Project Description – Methodology document Dubai`s trade with Singapore amounted aED9.2bn (USD2.5bn) from January to September, 2014. This figure amounted to AED 5.2 billion for imports, AED 1.15 billion for exports and 2.86 billion for re-exports. Ahmed Mahboob Musabih, Dubai Customs Director, said: “This is an important step in strengthening relations and promoting trade between the GCC countries and Singapore. At Dubai Customs, we have an obligation to improve bilateral trade between the United Arab Emirates and Singapore by exempting tariffs at both ends. From 1 January 2015, Singapore products will be duty-free at all Dubai sea, air and land ports. The GSFTA is a comprehensive free trade agreement that includes trade in goods, trade in services, investment, rules of origin, customs procedures, public procurement, e-commerce and economic cooperation. If one contracting party believes that another party has taken actions that have created a barrier to trade, the parties agree to hold consultations within the Joint Committee to find an appropriate solution.