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COUNTRY TRADING PROFILES
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Market access
Distributing a product |
Market access procedures |
Organizing goods transport |
Identifying a supplier |
Standards |
Intellectual Property
Distributing a product
- Evolution of the sector
- With the improved economy of Singapore, increasingly affluent consumers are more willing to spend. In addition, various new shopping malls such as VivoCity, Central and Ang Mo Kio Hub all stimulated the retail scene. Existing shopping malls such as Centrepoint, Tampines Mall and White Sands were also revamped, with new extensions built to accommodate more retailers in order to remain competitive. The influx of retailers to these new selling spaces further attracted consumers who increasingly visited them at weekends.
- Market shares
The distribution sector in Singapore is similar to the western countries, with a domination of the large-scale distribution network which carries out the majority of retail sales. The high standard of living of the Singaporean and their taste for Western products attract a lot of foreign groups to this 640 km² territory.
- Organizations in the retail sector
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Singapore Retailers Association
The Association of Shopping Centers
We can identify professional tradeshows on your sector.
Market access procedures
- International Conventions
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Member of World Trade Organisation
Party to the Kyoto protocol
Party to the Washington convention on International trade in endangered species of wild fauna and flora
Party to the Basel convention on the Control of Transboundary Movements of Hazardous Wastes and their disposal
Party to the Montreal protocol on Substances that deplete the Ozone Layer
- Main International economic cooperation
- Singapore does not belong to any Customs Union.It is a member of the Asia -Pacific Economic Cooperation (APEC).
It is a member of the ASEAN (Association of South-East Asian Nations), AFTA and the ASEAN - China Free Trade Area. It is a member of the ASEM (Asia-Europe Meeting). It is a member of the SEAT (Six East Asian Traders) Singapore is a signatory to multilateral and bilateral agreements with many countries. Visit: IESinggapore.
- Non tariff barriers
Import
procedures in Singapore are very liberal. Most goods can enter the
Singaporean territory without any restriction. Only a few products,
such as chewing gum and weapons are banned. There is a license system
required for about 6% of the total amount of imports and concerns fresh
fruits and vegetables, plants, meat, animals, medicines, broadcasting
products (automatic licenses) and also some sensitive products likely
to represent a risk for health or the State (non automatic licenses).
These licenses are generally issued by the International Enterprise Singapore. Some other institutions may be involved such as the Ministry of Health.
- Customs duties and taxes on imports
- Singapore is duty free except for products like automobiles, gasoline, tobacco, and alcohol. For more details, visit: Tariff Schedule
- Customs classification
- Singapore applies the Harmonized Customs System.
- Import procedures
- Firms importing goods into Singapore require making an inward declaration, in addition to having an import permit.
For details, visit: Import Procedure
- Importing samples
- Goods entering the country temporarily for repair, stage performance etc. can do so without payment of duty or GST. Using an ATA carnet, foreign companies/exhibitors can import products into the country. For details, visit: Customs Singapore
- For further information
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Singapore Customs
Ministry of Trade and Industry
We can indicate you which are the customs duties applied to your product.
Find out the local taxes that apply to your product.
© Export Entreprises SA, all rights reserved.
Last updates: May 2012
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