The CSFTA will enhance Singapore companies' access to the vast Chinese market and further boost our excellent bilateral trade and investment relations. Currently, China is Singapore's third largest trading partner and largest investment destination.
Building on Trade in Goods Chapter commitments of China and Singapore under the Framework Agreement on Trade in Goods between ASEAN and China, the CSFTA will provide for accelerated tariff concessions that will enhance the competitiveness of Singapore goods vis-a-vis other foreign imports into China.

The CSFTA will provide preferential coverage for about 95% of Singapore's exports to China, with a trade value of more than S$18 billion. More than 85% of Singapore exports to China will be at zero-tariff upon the CSFTA's entry into force on 1 January 2009. An additional 10% will become duty-free on 1 January 2010. Key exports that will benefit include petrochemicals, processed foods, and electronics and electrical products.

Singapore and China have agreed to simplify our customs procedures to facilitate Goods trade. The key facilitative commitments include Third Party Invoicing, Advance Ruling to provide traders with more certainty and enhancement of the application of risk management to facilitate the clearance of low risk consignments.
The above will assist Singapore companies to strengthen their competitive position in the Chinese market.