Singapore’s exports to Peru will benefit from duty free treatment immediately upon entry into force of the FTA. This will account for over 87% of Singapore’s total exports to Peru. Tariffs for the rest of the goods currently exported by Singapore to Peru will be phased out over a 10 year period.

Due to the PeSFTA, exports from Singapore to Peru will enjoy greater market access and it will enhance the competitiveness of Singapore goods vis-a-vis other foreign imports into Peru.