Peru – Singapore Free Trade Agreement (PeSFTA)

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. 

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