Peru – Singapore Free Trade Agreement (PeSFTA)

Country / jurisdiction: Peru · Year: 2009 · Status: In force · Level: International · Type: Voluntary

The Peru-Singapore Free Trade Agreement (PeSFTA) provides for the gradual elimination of border tariffs for more than 87% of the good traded in between both countries, including for:

Electric motors, turbines and generators;

Mechanical equipment including pumps, appliances, and other advanced machinery;

Electric accumulators, transformers, capacitors, batteries;

Motor vehicles;

Mineral ore, slag and ash;

Mineral fuels, oils and other products;

Metals and their articles e.g. iron and steel;

Semiconductors devices and photovoltaic cells;

Rule of origins apply to qualify for the preferential tariff treatment, including the following ones:

mineral ores, and metals, including iron and steel need to be produced entirely in the territory of the signatories, or using non-­originating materials that undergo a change in tariff classification

In addition, for mineral fuels, oils and products of their distillation, the production needs to occur in the territory of the signatories

For most of the products listed above, non-­originating materials used during the production process need to have undergone a change in tariff classification or to have a qualifying content equal or superior to 40%

Goods imported into Singapore from ASEAN countries or Korea and re-exported within these countries, without any processing in Singapore, can however enjoy tariff concessions under the Agreement.

Official source: https://www.enterprisesg.gov.sg/grow-your-business/go-global/international-agreements/free-trade-agreements/find-an-fta/PeSFTA