Labor welcomes the third update to the Singapore-Australia Free Trade Agreement and looks forward to developing stronger economic ties between the two countries.
Singapore is Australia’s fifth largest trading partner and today’s announcement will help to advance this vital relationship, liberalising trade in goods and services as well as establishing a framework for bilateral investments.
This update will also provide new opportunities for many Australian workers, particularly in the services sector.
The new agreement will increase the recognition of a number of Australian qualifications, leading to further economic opportunities in sectors such as education, law, e-commerce, telecommunications and professional services.
The updated trade agreement recommits both countries to free trade and will be vital to Australia’s economic growth in the future.
THURSDAY, 13 OCTOBER 2016
MEDIA CONTACT: JACK MCCLELLAN 9790 2466