The Content of the FTA Text and Its Range

Abstract

The guideline on what information and agreements need to be included in an FTA is built on GATT Article XXIV and re-enforced by Doha mandate point 29: “We also agree to negotiations aimed at clarifying and improving disciplines and procedures under the existing WTO provisions applying to regional trade agreements. The negotiations shall take into account the developmental aspects of regional trade agreements.” With regard to the reporting, content, and “what to include” in the body text of an FTA, additional World Trade Organization documents, including the “Transparency Mechanism for Regional Trade Agreements (Decision of 14 December 2006)” have set forth the framework for the content of a Free Trade Agreement. Clearly, FTAs go beyond duty rate reductions and the trend is to include more and more nonduty components in the FTA. Singapore has concluded multiple FTAs but has no significant duty rates in place (99% of imports are already duty free), the benefits include access to trade channels, priority for clearance, or in case of the Singapore–Panama FTA priority treatment at the Panama canal.