Times of Oman
4th Feb 2008
MUSCAT — The AGCC states and Singapore will officially sign an agreement establishing a free trade zone after both sides earlier signed the initial agreement.
The agreement allows exempting goods exchanged between the AGCC and Singaporean markets from custom duties, liberalising services by allowing services providers of both sides to operate in the markets of the member countries of the agreement. The agreement also allows companies of both sides to offer their bids in tenders related to governmental purchases, settlement of disputes, combat dumping and take compensatory measures.
It is worth mentioning that the AGCC and Singapore imitated the agreement to set up a free trade zone between the two sides during the fourth round of talks that was held in Singapore at the end of January.
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