NAME: Livia PaganelliSCHOOL: United NetworkCOMMITTEE: ECOFINTOPIC: Development and Regulation of Free Trade AgreementsCOUNTRY: Singapore INTRODUCTIONFree Trade Agreements (FTAs) have the aim to ease trade relationship between two or morecountries in order to increase business deals and competition between  the markets.The FTAs can be divide in three main areas:- Trade in Goods – with the responsibility of cutting costs and purposing no-tariff measures;- Trade in Services – which focus on protecting the trading market access;- Investment – that enables investments between the different countries.HISTORYIn 1948 the General Agreement on Tariffs and Trade was established and in 1995 it was substituted by the World Trade Organization (WTO); the effects were a reduction of the costs of the products, competition and innovation. The WTO controls the existence of an equal economic competition among the different countries. In 1992 Singapore signed its first FTA with Asian territories. The effects of this have been bilateral and regional trade agreements, a great increase of exports thanks to lower customs duties.In 2003 Goh Chok Tong, the Prime Minister of Singapore and then George W. Bush, President of the United States, signed the US-Singapore Free Trade Agreement (USSFTA). This was the first time that in United States made an FTA with an Asian country.This deal had the intention of improving the trade in goods and services, the customs regulation, (1) movement of business persons, intellectual property protection and the environment.The USSFTA cut the import taxes and costs that US enforce????? on  Singapore goods. It also allowed US banks, for example Citibank, to expand their branches in Singapore.Singapore and EUSingapore is the biggest commercial partner di chi???? in ASEAN. In Singapore there are more than 10.000 EU companies.In 2009, Singapore and EU started to plan the negotiations of EUSFTA. The Good and Services Agreement was signed agreed in 2012 and the Investment Protection in 2014.The EUSFTA creates business relationships with foreign investors but at the same time (2) protects the right and the parties to regulate in the public interests.While EU-Singapore trade in Goods increased of 17% between 2008 and 2014 of 17%, trade in Services grew up faster, about 40%.SAFTASAFTA, the Singapore-Australia Free Trade Agreement, is primary for the economic relationship with Singapore. It entered into force on 28 July 2003 and then changes were made in the following years.The trade gets better not only with the elimination of tariffs, but also with the market accessespecially for services. ??CURRENT STATUSAbout EU and Singapore in 2014 there aren’t customs duties on more than of the duties imported from Singapore, based on the general rules of WTO. ??????With the agreement with the EU, Bruxelles  will cancel the remaining tariffs in five years and Singapore promises to commit itself to not change its own regime towards the Union; it will not introduce customs duties until the maximum limit established by WTO.Today the Free Trade Agreement EU-Singapore can be not concluded only with European Union, but also with the participation of member States; this eas is approved by the Court of Justice.For the Court what  is established by the agreements relating to foreign investments and the relateddisputes are not don’t fall within the competence of UE.PROPOSED ACTIONS AND SOLUTIONSThe free trade is producing world monopolies. These agreements led to a free movement of goods to a mechanism of a commercial dumping, selling abroad of goods to a lower price than those practiced on the domestic market.During the years we can see that richness tends to concentrate in some areas of countries rather than others. We should put some duties under a temporary regime in agreement with an organization of ??????an international organism that assesses actual needs.This solution should make it possible to could rebalance production capacity and investments of thecountry.CONCLUSIONThe Free Trade Agreement is fundamental for the increase of the economy of the country, because is only the trade that can regulate the wealth in the world.Singapore is a member of ASEAN;  it signed its first FTA in 1992 with Asian territories. It is the most important commercial partner of UE, but the agreement UE-Singapore is not alreadyconcluded because for the not participation of member States did not partipiate dove????.It is important to avoid that one country dominates over the others because there could beeconomical and political consequences.To solve this situation, it could be possible introduce duties under a temporary regime so that it cancould rebalance production capacity and investments.The economy alone is not self-governing but it’s like a great river that brings water to the sea???? .      (2)


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