WORLD TRADE  
ORGANIZATION  WT/REG269/1/Rev.1 
1 October 2010 
 (10-5003) 
Committee on Regional Trade Agreements  
  
 
   
 
 
FACTUAL PRESENTATION 
 
Free Trade Agreement 
between 
Peru and Singapore 
(Goods and Services) 
 
Report by the Secretariat 
 
Revision  
 
 
 
  
This report, prepared for the consid eration of the Free Trade Agreement 
between Peru and Singapore has been drawn up by the WTO Secretariat 
on its own responsibility and in full c onsultation with the Parties.  The 
report has been drawn up in accord ance with the rules and procedures 
contained in the Decision for a Transparency Mechanism for Regional Trade Agreements (WT/L/671).  
 
Any technical questions arising from this report may be addressed to 
Ms. Roberta Lascari (tel: +41 22 739 6268).  WT/REG269/1/Rev.1 
 Page iii 
 
 
  TABLE OF CONTENTS 
 
  Page 
  
I. TRADE ENVIRONMENT 1  
A. OVERVIEW  1 
B. MERCHANDISE TRADE  1  
C. TRADE IN SERVICES AND INVESTMENT  5  
II. CHARACTERISTIC ELEMENTS OF THE AGREEMENT 10  
A. BACKGROUND INFORMATION  10  
III. TRADE IN GOODS 13  
A. NATIONAL TREATMENT AND MARKET ACCESS PROVISIONS ON TRADE IN GOODS  13  
1. General provisions 13  
2. Import duties and charges, and quantitative restrictions 14  
3. Liberalization of tariffs and trade 14  
(a) Peru 16  
(b) Singapore 17  
4. Rules of origin 18  
5. Export duties and charges, and quantitative restrictions 20  
6. Regulatory provisions on trade in goods 21  
(a) Standards 21  
(b) Safeguard mechanisms 24  
(c) Anti-dumping and countervailing measures 25  
(d) Subsidies and State-aid 26  
(e) Customs-related procedures 26  
(f) Other regulations 28  
7. Sector-specific provisions  on trade in goods 28  
(a) Agriculture 28  
(b) Price Band System 29  
IV. TRADE IN SERVICES AND INVESTMENT 30  
A. SCOPE AND DEFINITIONS  30  
B. DENIAL OF BENEFITS  32  
C. GENERAL PROVISIONS ON TRADE IN SERVICES AND INVESTMENT  32  
1. Market access 32  
2. National and MFN treatment 33  
3. Local presence 33  
4. Performance requirements 33  
5. Other provisions on investment 34  
6. Movement of natural persons 35  
D. LIBERALIZATION COMMITMENTS IN SERVICES AND INVESTMENT  36  
1. Peru 37  
2. Singapore 40  
E. REGULATORY PROVISIONS ON TRADE IN SERVICES AND INVESTMENT  45  
1. Domestic regulation 45  
2. Recognition 46  
3. Restrictions to safeguard the Balance of Payments 46  
 WT/REG269/1/Rev.1 
Page iv  
 
  V. GENERAL PROVISIONS OF THE AGREEMENT 47  
1. Transparency 47  
2. Current payments and capital movements 47  
3. Exceptions 48  
4. Accession and withdrawal 48  
5. Institutional framework 49  
6. Dispute settlement 49  
7. Relationship with other agreements concluded by the Parties 51  
8. Government procurement 53  
9. Intellectual property rights 56  
10. Electronic commerce 56  
 
ANNEX I  57  
 
ANNEX II  60  
 
ANNEX III  62  
 
 
 
   WT/REG269/1/Rev.1 
 Page 1 
 
 
  I. TRADE ENVIRONMENT 
A. OVERVIEW  
1. The Free Trade Agreement (hereinafter the "Agreement") between Peru and Singapore is the 
first regional trade agreement (RTA) concluded by Peru  with an Asian country.  It is Singapore's third 
RTA with a Latin American country, following the ag reements with Panama and Chile, the latter in 
the framework of the Trans-Pacific Strategic Economic Partnership.1  
2. The two economies are considerably different in terms of size and trade profiles.  With a 
population of nearly 29 million inhabitants, Peru's  GDP amounted to US$127.4 billion in 2008, while 
Singapore's GDP was US$181.9 billion, with a population of nearly 5 million.  In the same year, Peru 
ranked 61st and 65th among the world's exporters and importers  of goods (a share of 0.20% and 0.18% 
in world exports and imports).  Singapore was the 14th largest exporter and the 15th largest importer of 
goods representing 2.10% and 1.94% of total exports and imports.  The structure of merchandise trade 
shows that manufactures dominate Singapore's exports and imports, and account for more than half of 
Peru's total imports, while fuel and mining produc ts dominate Peru's global exports.  The Parties' 
overall trade to GDP ratios vary considerably, 51 .5 for Peru and 444.9 for Singapore (2006-08).2     
3. With respect to trade in services, Peru ranked 77th and 66th among global exporters and 
importers of commercial services in 2008, with a share of 0.09% and 0.15% of world exports and 
imports.  In the same year, Singapore was the 14th and 15th largest exporter and importer of 
commercial services, with a share of 2.18% in gl obal exports and 2.23% in  global imports of 
services.3 
B. MERCHANDISE TRADE  
4. In 2008, Singapore was the 71st export destination and the 43rd source of import for Peruvian 
products, accounting for 0.01% and 0.2% of its global exports and imports.  In the same year, Peru 
accounted for a small percentage of Singapore's export and import of goods (respectively 0.01% and 
0.003% of the total), representing its 105th export market and 96th import source.  
5. Recent developments in global and intra-Party tr ade are presented in Charts I.1 (Peru) and I.2 
(Singapore).  Since 2003 Peru has run an overall surp lus in its balance of trade with the world, a 
surplus which has been narrowing as import growth has been more rapid than that of exports.  With 
Singapore it has run a growing trade deficit, with imports increasing and exports declining since 2005.  Singapore has run a small but relatively constant trad e surplus with the rest of the world since 2002.  
Its balance of trade with Peru has also been pos itive throughout the period surveyed, except in 2006 
when bilateral imports were more than double in value with respect to exports. 
6. There are some discrepancies in the data reporte d by the Parties to the UNSD Comtrade.  For 
instance, Peru indicated that exports to Singapore amounted to US$4.5 and US$4 million in 2006 and 2007, whereas Singapore's imports from Peru in the same years amounted to US$28.8 and US$12.4 million.
4  According to the Parties, discrepancies in  trade data is not uncommon since countries use 
different methodologies with different sets of para meters and assumptions to calculate export and 
import data.  Peru has further clarified that most of its exports consist of minerals and base metals 
                                                      
1 WTO Regional Trade Agreements Database: http://rtais.wto.org/UI/Pu blicMaintainRTAHome.aspx  
2 WTO Statistics Database, Trade Profiles (March 2010). 
3 WTO Statistics Database, Trade Profiles (March 2010). 
4 The same discrepancies occurred in 2002, when Peru indicated that its exports to Singapore amounted 
to US$6.7 million, whereas Singapore indicated that its imports from Peru amounted to US$12.3 million, and in 2003 when Peru reported exports to Singapore for US$16.1 million and Singapore reported imports from Peru 
for US$ 3.9 million.   WT/REG269/1/Rev.1 
Page 2  
 
  usually traded by an "international trader" located in  a third country.  According to Peruvian statistics, 
the "international trader" is registered in customs declarations as the destination of such exports, 
whereas the origin of exports of minerals and b ase metals to Singapore and other countries by the 
"international trader" is registered as Peruvian.  This could be an expl anation for the apparent 
discrepancies.   
0510152025303540
2000 2001 2002 2003 2004 2005 2006 2007 200805101520253035404550US$billion US$millionChart I.1 - Peru: Merchandise imports from and exports to world 
and Singapore, 2000-2008
Source : UNSD, Comtrade database and import data submission by Peru (2007-2008 imports from Singapore; 
             2008 imports from world).Imports from Singapore
Exports to SingaporeTotal imports
Total exportsLeft hand scale: Right hand scale:
 
050100150200250300350400
2000 2001 2002 2003 2004 2005 2006 2007 2008020406080US$billion US$millionChart I.2 - Singapore: Merchandise  imports from and exports to 
world and Peru, 2000-2008
Sources : UNSD, Comtrade database.Imports from Peru
Exports to PeruTotal imports
Total exportsLeft hand scale: Right hand scale:
  WT/REG269/1/Rev.1 
 Page 3 
 
 
  7. The commodity structure of trade between the Par ties, as well as of their imports and exports 
to the world, in the period 2006-2008 is shown in Ch art I.3, on the basis of Harmonized System (HS) 
sections. 
8. Over the period surveyed, Peru's total imports  from Singapore were valued at US$39 million.  
They mainly consisted of machinery (40.3%), wh ich also dominated Singapore's global exports and 
imports (respectively 52.8% and 46% of the total) .  Vehicles and base metals accounted for 18.2% 
and 13% of Peru's imports from Singapore.  Singa pore's total imports from Peru amounted to US$17 
million in 2006-08, more than half  of which were accounted for by  base metals (66.1%), followed by 
textiles (13.1%) and prepared foods (8.5%).  At global level, the second most traded category by 
Singapore was minerals which accounted for 15.4% and 22.8% of its global exports and imports.  
Minerals were also Peru's main exports to the world (37.6%), followed by precious stones (19%) and 
base metals (16.2%).  Minerals also accounted fo r 19.1% of Peru's global imports, together with 
machinery (24.3%), chemicals (9 .7%), and base metals (9.2%). WT/REG269/1/Rev.1 
Page 4  
 
  Chart I.3
Peru and Singapore: product compos ition of merchandise trade, annual 
average 2006-2008
Peru's imports from Singapore Singapore's imports from Peru
Note: mirror data used for Peru's imports from Singapore in 2007-2008.
Source : UNSD, Comtrade database and impo rt data submission by Peru in 2008 (for Peru-Canada Agreement).Per cent
Total:  US$39 million Total:  US$17 million
Total:  US$22 billion Total: US$274 billion
Total:  US$28 billion Total:  US$303 billionPeru's global exports Singapore's global exportsPeru's global imports Singapore's global imports 
Optical 2.7Optical 3.2
Minerals
37.6Other 
4.9Base metals 5.3
Vehicles 2.6Prepared foods 3.2
Base metals 16.2Other 
4.0 Other 2.7
Chemicals 8.4Other 
4.7
Chemicals 4.9 Vegetables 4.8
Live animals 1.7Minerals 19.1Vehicles 5.1Base metals 
66.1Textiles 5.0 Prepared foods 
8.5
Machinery 
46.0Machinery 
40.3
Chemicals 1.8Vehicles 8.3
Minerals 22.8Plastics 7.0
Vegetables 5.0Wood pulp 2.9
Base metals 3.5Optical 1.7
Machinery 
52.8Vegetables 6.0
Machinery
24.3
Textiles 3.6
Minerals 15.4Vegetables 2.5
Textiles 13.1Prepared foods 3.0
Chemicals 4.2
Plastics 9.8
Base metals 13.0Live animals 3.6
Base metals 9.2Plastics 2.0Precious stones 1.7Other 
9.1
Plastics 3.2Other 
11.5Chemicals 9.7
Precious stones 19.0Prepared food 7.4Textiles 6.4Vehicles 18.2
Fats and oils 1.5
  WT/REG269/1/Rev.1 
 Page 5 
 
 
  C. TRADE IN SERVICES AND INVESTMENT  
9. Chart I.4 shows the breakdown of commercial se rvices trade for Peru in 2000-2008.  Over 
this period, Peru has recorded a growing overall defic it in trade in services.  The three main categories 
of exports and imports of commercial services were  travel services, transportation services and other 
business services. 
0.00.51.01.52.02.53.03.54.04.55.05.56.0
2000 2001 2002 2003 2004 2005 2006 2007 20080.00.51.01.52.02.53.03.54.04.55.05.56.0
2000 2001 2002 2003 2004 2005 2006 2007 2008Chart I.4
Peru, total commercial s ervices trade, 2000-2008
Exports Imports
Transport services
Travel services
Source : International Monetary Fund.Communications servicesUS$ billion
Construction servicesFinancial services
Computer and information services
Royalties and license feesOther business services
Personal and cultural and 
recreational servicesUS$ billion
 Insurance services
Government services, n.i.e.
 
 
10. Peru does not have data on bilateral trade in service. 
11. Chart I.5 shows the breakdown of commercial services trade for Singapore in 2000-2008.  In 
the last two years, Singapore has become a net overa ll exporter of commercial services.   Singapore's 
top three export and import categorie s were transportation services, tr avel services, and other business 
services.  Royalties and license fees also accounted for a growing share of Singapore's total imports.   WT/REG269/1/Rev.1 
Page 6  
 
  0510152025303540455055606570758085
2000 2001 2002 2003 2004 2005 2006 2007 20080510152025303540455055606570758085
2000 2001 2002 2003 2004 2005 2006 2007 2008Chart I.5
Singapore, total commercial services trade, 2000-2008
Exports Imports
Transport services
Travel services
Source : International Monetary Fund.Communications servicesUS$ billion
Construction servicesFinancial services
Computer and information services
Royalties and license feesOther business services
Personal and cultural and 
recreational servicesUS$ billion
 Insurance services
Government services, n.i.e.
 
 
12. Chart I.6 shows Singapore trade in services with Pe ru in 2005-2007;  during the last two years 
of this period, Singapore registered a trade surplu s with Peru when exports of commercial services 
amounted to US$7.5 million.  WT/REG269/1/Rev.1 
 Page 7 
 
 
  02468
2005 2006 2007US$millionChart I.6 - Singapore, bilateral co mmercial services trade with Peru, 
2005-2007
Source : data submission by Singapore.Imports Exports
 
 
13. Chart I.7 shows Peru's inward and outward stoc k of FDI with the world in 2000-2008.  The 
stock of inward FDI has constantly increased  over the period, especially since 2005, reaching 
US$30.2 billion in 2008.  The stock of outward FDI has also been growing but remains small reaching 
US$2.3 billion in 2008. WT/REG269/1/Rev.1 
Page 8  
 
  05101520253035
2000 2001 2002 2003 2004 2005 2006 2007 200805101520253035
2000 2001 2002 2003 2004 2005 2006 2007 2008Chart I.7
Peru, inward and outwar d foreign direct investment stock with world, 
2000-2008
Inward Outward
Source: UNCTAD, Foreign Direct Investment database.US$ billion US$ billion
 
 
14. Chart I.8 shows Peru's inward and outward st ock of FDI with Singapore in 2006-2008.  In 
2008, the inward stock of FDI by Singapore more  than doubled from the level in 2007, reaching 
US$483.7 million.  Peru does not have data on outward stock of FDI with Singapore.   WT/REG269/1/Rev.1 
 Page 9 
 
 
  0200400600
2006 2007 20080200400600
2006 2007 2008Chart I.8
Peru, inward foreign direct investme nt stock with Singapore, 2006-2008
Inward Outward
Note: no data submission on Peru's outward fdi with Singapore
Source: Peru submission.US$ billion US$ billion
 
 
15. Chart I.9 shows Singapore's inward and outward stock of FDI with the world in 2000-2008.  
Singapore is both a significant recipient of FDI and i nvestor in the world.  Both inward and outward 
FDI stocks have grown steadily over the period su rveyed.  In particular, the stock of inward 
investment has increased in the l ast three years, reaching US$326 b illion in 2008, while the stock of 
outward investment amounted to US$189 billion in the same year. WT/REG269/1/Rev.1 
Page 10  
 
  050100150200250300350
2000 2001 2002 2003 2004 2005 2006 2007 2008050100150200250300350
2000 2001 2002 2003 2004 2005 2006 2007 2008Chart I.9
Singapore, inward and outward foreign in vestment stock with world, 2000-2008
Inward OutwardUS$ billion US$ billion
Source: UNCTAD, Foreign Direct Investment database.
 
 
16. Singapore's inward and outward stock of FDI w ith Peru in 2005-2007 is shown in Table I.1 
below.  While the stock of inward investment has remained unchanged, outward FDI stock increased 
by four times over the three-year period.  
Table I.1  
Singapore, inward and outward foreign di rect investment stock with Peru, 2005-2007 
(S$ million) 
FDI with Peru Year  
Inward Outward 
2005 0.6 < 50 
2006 0.6 < 150 
2007 0.6    192 
 
Note: Inward FDI figures refer to share capital only and does not  constitute total FDI which comprises of share capital, reserv es and net 
 lending from foreign direct investors. 
 
Source : Data submitted by Singapore. 
 
II. CHARACTERISTIC ELEMENTS OF THE AGREEMENT 
A. BACKGROUND INFORMATION  
17. The Free Trade Agreement between Peru and Singapore was signed on 29 May 2008 and 
entered into force on 1 August 2009.  It was notifie d by the Parties to the WTO on 30 July 2009 under 
Article XXIV:7(a) of GATT 1994 and Article V: 7(a) of the GATS, as document WT/REG269/N/1 
and S/C/N/502.  WT/REG269/1/Rev.1 
 Page 11 
 
 
  18. The Parties agreed to establish a free trade area in accordance with Article XXIV of GATT 
1994 and Article V of GATS (Article 1.1). The text of  the Agreement, together with the Annexes, is 
available at the following web addresses: 
 Peru:  http://www.mincetur.gob.pe/ne wweb/Default.aspx?tabid=3059  
 
 Singapore:  http://www.fta.gov.sg/fta_pesfta.asp?hl=39  
 19. The Agreement consists of 19 Ch apters and 17 Annexes which form an integral part of the 
Agreement (Article 19.1).  Any am endment to the Agreement must be  agreed in writing between the 
Parties and shall enter into force once the Parti es have exchanged notes confirming the completion of 
their respective applicable legal procedures (Article  19.2).  The structure of the Agreement is shown 
in Box II.1 below. WT/REG269/1/Rev.1 
Page 12  
 
  Box II.1 
Outline of the Peru-Singapore Free Trade Agreement  
Chapter 1: Initial Provisions and General Definitions 
 Section A Initial Provisions 
 Section B General Definitions 
Chapter 2: Trade in Goods 
                   Annex 2A Peru General Note and Tariff Schedule 
                   Annex 2B Singapore General Note and Tariff  Schedule 
                   Annex 2C Restrictions on Imports and Exports 
Chapter 3: Special Agricultural Measures 
                   Annex 3A Criteria for the Application of Speci al Agricultural Measures 
                   Annex 3B List of Products subject to Special Agricultural Measures 
Chapter 4: Rules of Origin 
                   Annex 4A Product Specific Rules  
                   Annex 4B Remanufactured Goods 
Chapter 5: Customs  
 Section A Customs Procedures  
 Section B Customs Procedures Relating to Origin                    Annex 5A Data Elements for Certificate of Origin 
Chapter 6: Sanitary and Phytosanitary Measures 
Chapter 7: Technical Barriers to Trade Chapter 8: Bilateral Safeguards 
Chapter 9: Government Procurement 
                   Annex 9A Government Procurement Schedules 
                   Annex 9B Officially Designated Electronic Media for the Publication of Information of 
Government Procurement 
Chapter 10: Investment 
                   Annex 10A Expropriation 
Chapter 11: Cross-border Trade in Services 
                   Annex 11A Professional Services 
                   Annex 11B Peru Cross-border  Trade in Services and Investment Reservations for Existing 
Measures and Liberalization Commitments                    Annex 11C Singapore Cross-border Trade in Services and Investment Reservations for Existing 
Measures and Liberalization Commitments 
                  Annex 11D Peru Cross-borde r Trade in Services and Investment for Future Measures 
                  Annex 11E Singapore Cross-bo rder Trade in Services and In vestment for Future Measures 
Chapter 12: Temporary Entry for Business Persons 
                  Annex 12A Temporary Entry for Business Persons 
Chapter 13: Electronic Commerce  
Chapter 14: Competition Policy 
Chapter 15: Transparency  Chapter 16: Administration of the Agreement 
Chapter 17: Dispute Settlement 
Chapter 18: Exceptions Chapter 19: Final Provisions 
 
Source : The Agreement.  
  WT/REG269/1/Rev.1 
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  III. TRADE IN GOODS 
A. NATIONAL TREATMENT AND MARKET ACCESS PROVISIONS ON TRADE IN GOODS  
1. General provisions 
20. Each Party shall accord national treatment to goods of the other Party in accordance with 
Article III of GATT 1994 and its interpre tative notes which are incorporated, mutatis mutandis , into 
the Agreement (Article 2.3).   
21. The Agreement provides for the progressive elimination of customs duties on goods 
originating in the territories of the Parties, in accordance with the staging categories established in 
each Party's schedule to Annexes 2A (Per u) and 2B (Singapore) (Article 2.4).5  The phase-out period 
starts on the date of entry into force of the Agr eement (1 August 2009) and is to be completed in 
17 years (i.e. 1 January 2025).  During the tariff e limination process, the Parties agree to apply to 
originating goods the lesser of the customs du ties resulting from a comparison between the rate 
established in Annexes 2A and 2B and the existing MF N rate (Article 2.4(4)).  The tariff elimination 
programme (TEP) does not apply to used goods (Article  2.4(8)), with the exception of remanufactured 
goods listed in Annex 4B of the Agreement.  Artic le 2.5 provides for the possibility of accelerating 
the TEP, upon request of either Party and after cons ultations, or for the incorporation into a Party's 
schedule of goods excluded from liberalization.  Any agreement between the Pa rties to accelerate the 
TEP must be subject to an exchange of written no tification between the Parties on the completion of 
necessary internal legal procedures and on the date or  dates as agreed between them before it enters 
into force.  A Party may also decide at any time to unilaterally accelerate the TEP on goods 
originating in the other Party, and inform it as early as practicable.  
22. A "standstill clause" is contained in Article 2. 4(5), whereby the Parties shall not increase an 
existing, introduce a new, or impose an additiona l customs duty on imports of originating goods.  
Under Article 2.4(3), Peru shall maintain the app lication of its Price Band System as established in 
Supreme Decrees 115-2001-EF and 197-2002-EF and s ubsequent legal modifications or succeeding 
system for products covered by the Decree (see Section III.A.7).   Under Article 2.4(6) the Parties 
refrain from applying any measure that reduces or nullifies the commitments of Chapter 2.  
23. Chapter 2 also contains disciplines on the duty-free temporary admission of products 
regardless of their origin, imported by or for the use of a national or resident of a Party, such as professional equipment, goods intended for displa y or demonstration, commercial samples and 
advertising films and recordings, and goods adm itted for sporting purposes, with the exception of 
liquor and tobacco products (Article 2.10);  duty -free admission of goods that re-enter a Party's 
territory after repair or alteration in the other Party's territory (Article 2.11)
6;  and duty-free entry of 
commercial samples of negligible value and printe d advertising material, except liquor and tobacco 
products, that are imported from the territory  of the other Party (Article 2.12).   
                                                      
5 "Customs duties" are defined as any customs or import duty and a charge of any kind imposed in 
connection with the import of a good, including any form of surtax or surcharge in connection with such import, 
but excludes any:  (a) charge equivalent to an intern al tax imposed consistently with Article III(2) of GATT 
1994, including excise duties and goods and services tax or sales tax;  (b) antidumping or countervailing duty 
applied consistently with the provisions of GATT 1994 , the WTO Agreement on Implementation of Article VI 
of the GATT 1994, and the WTO Agreement on Subsidies and Countervailing Measures;  (c) fee or other charge in connection with importing commensurate with the cost of services rendered and do not represent a direct or 
indirect protection for domestic goods or a taxation of imports for fiscal purposes (Article 2.2(5)). 
6 Article 2.11(3) specifies that "rep air or alteration" does not include an operation or process that:  (a) 
destroys a good's essential ch aracteristics or creates a new or commercially  different good;  or (b) transforms an 
unfinished good into a finished good. WT/REG269/1/Rev.1 
Page 14  
 
  2. Import duties and charges, and quantitative restrictions 
24. Article 2.8 requires the Parties to ensure that , in accordance with Article VIII(1) of GATT 
1994, all fees and charges (other than customs duties,  charges equivalent to an internal tax or other 
internal charge applied consistently with  Article III(2) of GATT 1994, and antidumping and 
countervailing duties) imposed on, or in connecti on with, imports are limited in amount to the 
approximate cost of services rendered and do not repr esent an indirect protection to domestic goods or 
a taxation on imports for fiscal purposes. 
25. Consular transactions, including related fees a nd charges, in connection with the import of 
any good are prohibited.  Each Party shall make ava ilable and maintain through the internet a list of 
all fees and charges imposed in connection with imports (Article 2.9).  
26. Article 2.13 prohibits the main tenance or adoption of non-tariff measures that prohibit or 
restrict the import of any good of a Party, incl uding remanufactured goods listed in Annex 4B, except 
in accordance with Article XI of GATT 1994 and its interpretative notes, which are incorporated into 
and made part of the Agreement.  Accordingly, a Party may not adopt or maintain:  (a) import price 
requirements, except as permitted to enforce c ountervailing and antidumping duty orders and 
undertakings;  or (b) import licensing conditioned on  the fulfilment of a performance requirement.  
Each Party must ensure the transparency of its non-tariff measures and that such measures are not 
drawn up, adopted or applied with a view to, or with the effect of creating unnecessary obstacles to 
bilateral trade.  Such prohibitions do not apply to im port restrictions listed by the Parties in Annex 2C 
(see paragraph 27 below).  Neither Party shall requi re, as a condition for engaging in import or for the 
import of a good, a person of another Party to establis h or maintain a contractual or other relationship 
with a distributor in its territory.  A Party may require the designation of an agent to facilitate 
communications between its regulatory aut horities and a person of the other Party.
 
27. Under Annex 2C, non-tariff measures that prohibit or restrict import and export may be taken 
with respect to:  (a) measures of Peru related to the import of used clothing and footwear;  used 
vehicles, used automotive engines, parts and repl acements;  used tires;  and used goods, machinery 
and equipment which utilize radioactive sources;  (b) renewal of any such measures;  (c) amendments 
to any such measures, as long as conformity with Article 2.13 is not reduced;  (d) measures imposed 
after the signing of the Agreement, which regulate th e import of the used products described above, as 
long as they do not exceed their scope;  or (e) measures of Peru authorized by the WTO Dispute Settlement Body.  
3. Liberalization of tariffs and trade 
28. The TEP is detailed in each Party's tariff schedul e in Annexes 2A (Peru) and 2B (Singapore).  
The base rate for tariff reductions is the MFN app lied duty in June 2006;  dut y reductions take place 
on 1 January of each year.  Under the Agreemen t, the Parties apply their respective national 
nomenclatures, consistent with the Ha rmonized System and its amendments. 
29. Liberalization is to be realized progressively ove r a period of 17 years, starting on the year of 
entry into force of the Agreement (1.8.2009) and te rminating in 2025 (duty-free as of 1.1.2025), at the 
latest.  The TEP is based on the products categori es indicated in Box III.1.  Since Singapore already 
applied duty-free treatment to all products on an  MFN basis before the en try into force of the 
Agreement, with the exception of six tariff lines which were liberalized upon entry into force, the 
phase-out period applies only to Peru.  
  WT/REG269/1/Rev.1 
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  Box III.1:  Categories of the TEP   
A Elimination of tariffs upon the entry into force of the Agreement (1.8.2009) 
B Elimination of tariffs in 5 equal annual stages starting from 2009;  duty-free on 1.1.2013 
C Elimination of tariffs in 10 equal annual stages, starting from 2009;  duty-free on 1.1.2018 
D Elimination of tariffs in 12 equal annual stages, starting from 2009;  duty-free on 1.1.2020 
E Elimination of tariffs in 15 equal annual stages, starting from 2009; duty free on 1.1.2023 
F1 Elimination of tariffs in 13 equal annual stages, starting from 2013; duty free on 1.1.2025 
F2 Elimination of tariffs in 9 equal annual stages, starting from 2017; duty free on 1.1.2025 
F3 Elimination of tariffs in 7 equal annual stages, starting from 2019; duty free on 1.1.2025 
 
Source : Annexes 2A and 2B of the Agreement. 
30. Overall tariff elimination under the Agreement, in terms of the number of lines and value of 
trade, is depicted in Tables III.1.A (Peru) and III.1.B (Singapore).  In 2009, Peru's MFN tariff 
schedule comprised 7,360 lines at the HS 10-digit le vel.  Of these, 3,960 lines were already duty-free 
on an MFN basis before the entry into force of th e Agreement, representing 53.8% of Peru's total lines 
and 84% of its imports from Si ngapore in 2006-2008.  Upon entry into force of the Agreement, 
719 additional lines were liberalized (9.8% of total li nes and 4.8% of bilateral imports).  After ten 
years of implementation (2018), a total of 3,334 lines became duty-free, accounting for 45.4% of 
Peru's total lines and 16% of total imports from Si ngapore.  At the end of the implementation period 
(2025), all remaining tariffs but one are to be lib eralized;  the one tariff line relates to textiles 
products. 
Table III.1 
Tariff elimination commitments under the Agreement and corresponding average trade 
A. Peru 
Duty phase-out 
period Number of lines % of total lines in 
Peru's tariff schedule Value of Peru's imports 
from Singapore (2006-2008) 
in million US$ % of Peru's total 
imports from  
Singapore 2006-2008 
MFN duty free 
(2009) 3,960 53.8 27.9 84.0 
2009 719 9.8 1.6 4.8 
2013 521 7.1 0.8 2.3 
2018 2,094 28.5 3.0 8.9 
2020 1 0.0 0.0 0.0 
2023 43 0.6 0.0 0.0 
2025 21 0.3 0.0 0.0 
Remain dutiable 1 0.0 0.0 0.0 
Total 7,360 100.0 33.2 100.0 
 
Note: Tariff lines subject to in-quota rates are excluded in the computation.  Based on the HS 2007 nomenclature. 
 
Source :  WTO estimates based on data provided by Peru. 
 
31. Singapore's MFN tariff schedule in 2009 comprised 8,300 tariff lines at the HS 8-digit level, 
of which six held non- ad valorem  duties.7  Before the entry into for ce of the Agreement all but the 
six non ad valorem  lines were duty-free on an MFN basis, accounting for 99.9% of Singapore's tariffs 
and 100% of its total imports from Peru in 2006-08.   The remaining six lin es were liberalized upon 
entry into force of the Agreement, resulting in  a 100% liberalization of tariff lines and trade.  
                                                      
7 These are specific duties. WT/REG269/1/Rev.1 
Page 16  
 
  Table III.1 
Tariff reduction commitments under the Ag reement and corresponding average trade 
B.  Singapore 
Duty phase-out period Number of lines % of total lines in 
Singapore's tariff 
schedule Value of Singapore's 
imports from Peru 
 (2006-2008) 
in million US$ % of Singapore's 
total imports from 
Peru 2006-2008 
MFN duty free (2009) 8,294 99.9 17.4 100.0 
2009 6 0.1 0.0 0.0 
Total 8,300 100.0 17.4 100.0 
 
Source :  WTO estimates based on data provided by Singapore. 
 
(a) Peru 
32. A more detailed perspective of Peru's tariff el imination schedule is presented in Chart III.1.  
In the year of entry into force of the Agreement (2009), more than half of Peru's tariff lines were 
duty-free on an MFN basis.  Upon entry into force of the Agreement, liberalization concerned duties 
with rates of 10% or below.  After ten years of  implementation, the bulk of liberalization still 
concerned duties rates of 10% or less, with some liberalization of lines with duties of 20% or less 
(781 lines).  
0 1,500 3,000 4,500 6,000 7,500200920132018202020232025Chart III.1
Peru's duty elimination under the Agreement
Year of duty free treatment   
Source: WTO Secretariat estimates, based on data provided by Peru.Number of duty-free lines (cumulative)
Duty-free <10% <20% MFN is:
 
 
33. Table III.2 shows Peru's trade liberalization under the Agreement organized by HS section 
product categories.  Of the 7,360 lines forming Peru's  tariff schedule in 2009, 3,960 lines were already 
duty-free on an MFN basis;  these were mainly  concentrated in machinery (HS section XVI), 
chemicals and chemical products (HS section VI), b ase metals and products thereof (HS section XV).  
At the entry into force of the Agreement, 719 add itional tariff lines were liberalized.  The main sectors  WT/REG269/1/Rev.1 
 Page 17 
 
 
  involved were still chemicals, machinery, and pr ecision equipment (HS section XVIII).  In 2018, after 
ten years of implementation of the Agreement, th e bulk or liberalization will take place in textiles 
products (HS section XI) (892 out of  2,094 lines), chemicals and chemi cal products (HS section VI), 
prepared foodstuff (HS section IV), and pulp, pape r (HS section X).  At the end of the implementation 
period (2025), one line relating to garment article s (HS 6309.00.00.00) remains subject to a duty of 
17%. 
Table III.2 
Peru:  Tariff elimination under the Agreement, by HS section 
Number of duty-free lines  
HS section and description  MFN 
average%  Total 
No of 
lines  MFN 
2009  
2009 
2013 
2018 
2020 
2023 
2025 
Remain 
dutiable  
Avg. Final 
Tariff 
(Dutiable)  
I Live animals and animal 
products 3.7 308 192 35 8 36  24 13   
II Vegetable products 6.7 384 121 55 124 80  2 2   
III Animal or vegetable fats 
and oils 3.9 64 36 4 3 20  1    
IV Prepared foods etc. 5.9 300 109 6 26 136 1 16 6   
V Minerals 2.8 205 141 46 14 4      
VI Chemicals and chemical 
products 3.0 1,465 970 194 84 217      
VII Plastics and rubber 3.4 312 195 6 20 91      
VIII Hides and skins 8.0 79 9 1 13 56      
IX Wood and articles 6.6 107 28 1 10 68      
X Pulp, paper etc. 5.6 246 93 9 20 124      
XI Textiles and textiles 
articles 14.1 966 63 1 9 892    1 17.0 
XII Footwear, headgear 13.4 56  1 15 40      
XIII Articles of stone 3.5 174 106 7 16 45      
XIV Precious stones, etc. 6.8 57 14 9 16 18      
XV Base metals and base 
metals products 2.5 700 505 79 34 82      
XVI Machinery 1.7 1,195 991 121 17 66      
XVII Transport equipment 1.8 226 181 3 11 31      
XVIII Precision equipment 3.6 290 175 104 4 7      
XIX Arms and ammunition 9.0 69   69       
XX Misc. manufactured 
articles 7.1 150 31 30 8 81      
XXI Works of art, etc. 9.0 7  7        
Total 5.0 7,360 3,960 719 521 2,094 1 43 21 1 17.0 
 
Note: Tariff lines subject to in-quota rates are excluded in the computation. 
Based on the HS 2007 nomenclature. 
 
Source : WTO estimates based on data provided by Peru. 
 
(b) Singapore 
34. At the time when the Agreement entered into force, Singapore's tariff lines were all duty-free 
on an MFN basis with the exception of six lines whic h were liberalized upon entry into force of the 
Agreement.  
35. Table III.3 shows Singapore's liberalizati on commitments under the Agreement, by 
HS section product categories.  Of the 8,300 lines forming Singapore's tariff schedule in 2009, 
8,294 were already duty free on an MFN basis before the entry into force of the Agreement.  The six 
dutiable lines were for prepared foods (HS section IV),  and were liberalized as of entry into force of 
the Agreement.  
 
 WT/REG269/1/Rev.1 
Page 18  
 
  Table III.3 
Singapore: Tariff reduction under the Agreement, by HS section 
HS section and description  MFN 
average
% Total No. of lines  MFN 2009 
duty-free  Number of  
duty-free lines 
2009  
I Live animals and animal products 0.0 344 344  
II Vegetable products 0.0 391 391  
III Animal or vegetable fats and oils 0.0 150 150  
IV Prepared foods etc. 0.0 386 380 6 
V Minerals 0.0 198 198  
VI Chemicals and chemical products 0.0 1,098 1,098  
VII Plastics and rubber 0.0 392 392  
VIII Hides and skins 0.0 84 84  
IX Wood and articles 0.0 136 136  
X Pulp, paper etc. 0.0 224 224  
XI Textiles and textile s articles 0.0 928 928  
XII Footwear, headgear 0.0 63 63  
XIII Articles of stone 0.0 185 185  
XIV Precious stones, etc. 0.0 75 75  
XV Base metals and base me tals products 0.0 825 825  
XVI Machinery 0.0 1,805 1,805  
XVII Transport equipment 0.0 427 427  
XVIII Precision equipment 0.0 339 339  
XIX Arms and ammunition 0.0 28 28  
XX Misc. manufactured articles 0.0 212 212  
XXI Works of art, etc. 0.0 10 10  
Total 0.0 8,300 8,294 6 
 
Source: WTO estimates based on data provided by Singapore. 
 
4. Rules of origin 
36. Chapter 4 sets out the general disciplines on rul es of origin, while Annex 4A contains product 
specific rules.  According to Article 4.2, a good is originating when it is: 
(a) wholly obtained or entirely produced in the territories of one or both Parties8;  or 
(b) entirely produced in the territory of one or both Parties exclusively from materials 
whose origin conforms to the Chapter's provisions;  or 
(c) entirely produced in the territory of one or both Parties from non-originating 
materials that conform to a change in tariff classification (CTC), a qualifying value 
content (QVC), or other requirements as sp ecified in Annex 4A on product specific 
rules. 
                                                      
8 These are:  (a) plants and plant products harvested or  gathered in the territory of one or both Parties;  
(b) live animals born and raised in the territory of one or bo th Party;  (c) goods obtained in the territory of one or 
both Parties from live animals;  (d) goods obtained from hunting, trapping, fishing, or aquaculture conducted in 
the territory of one or both Parties;  (e) minerals and other nonliving natural resources, not included in 
subparagraphs (a) to (d), extracted or taken from the territory of one or both Parties;  (f) goods obtained from sea 
fishing and other marine goods taken from outside the territory of a Party by a vessel registered, recorded or 
licensed with a Party, and entitled to fly its flag;  (g) g oods produced and/or made on board a factory ship from 
products referred to in subparagraph (f), provided that such factory ship is register ed, recorded or licensed with 
that Party, and entitled to fly its flag;  (h) goods taken by a Party, or a person of a Party, from the seabed or 
beneath the seabed outside its territory, provided that the Party has rights to exploit such seabed;  (i) waste and 
scrap derived from:  (i) production in the territory of that Party, which is only fit for the recovery of raw materials; or (ii) used goods collected in the territory of that Party, provided such goods are fit only for the 
recovery of raw materials; (j) recovered goods derived in the territory of a Party from used goods and utilized in 
the territory of that Party in the production of remanufactured goods; and (k) goods produced in the territory of one or both Parties exclusively from goods referred to in subparagraphs (a) to (j), or from their derivatives, at 
any stage of production (Article 4.4).  WT/REG269/1/Rev.1 
 Page 19 
 
 
  37. The principle of bilateral cumulation applies be tween the Parties (Article 4.8).  Article 4.3 
lists the minimal operations that are considered not to be sufficient to conf er originating status.  
Article 4.7 provides for a de minimis  rule, whereby non-textile or a pparel goods whose value of all 
non-originating materials that do not undergo a CTC do not exceed 10% of the free on board (FOB) 
value of the good, and textile or apparel goods, whose total weight of  non-originating fibres or yarns 
used in the production of the component of the good that determines the tariff classification of the 
good do not undergo a CTC are not more than 7% of the total weight of that component, are considered originating.   
38. For products included in Annex 4A, a qualifyi ng value content (QVC) requirement must be 
satisfied.  The QVC is the difference between the FOB value of the good and the value of 
non-originating materials (Article 4.5).
9  Article 4.6 specifies that the value of a material shall be:  (a) 
for a material imported directly by the producer of the good, its CIF value, in accordance with the 
WTO Customs Valuation Agreement;  (b) for a mate rial acquired by the producer in the territory 
where the good is produced, the transaction value, or  if this is not known and cannot be ascertained, 
the first ascertainable price paid for the material in  the Party;  or (c) for a material that is self-
produced, or where the relationship between the pro ducer of the good and the seller of the material 
influences the price actually paid or payable for the material, including a material obtained without charge, the sum of all expenses incurred in the production of the ma terial, including ge neral expenses 
and an amount for profit equivalent to the profit added in the normal course of trade. 
39. Product-specific rules in Annex 4A require the CT C method to apply at either the HS chapter, 
heading, or sub-heading levels (respectively 2, 4, and 6-digit), depending on the product.  The CTC 
method is used on its own for most agricultural pr oducts (HS chapters 1-24) , some mineral products 
(HS chapters 25 and 26),  leather and travel goods  (HS chapters 41-43), wo od and related products 
(HS chapters 44-49), and textiles (HS chapters 50- 63).  For some mineral products (HS chapter 27), 
chemical products (HS chapters 28, 29, 30, 31, 32, 33, 34, 35, 36, 37, and 38) , and  plastic and rubber 
products (HS chapters 39 and 40), in  addition to product-specific rules, origin can be conferred to 
products from a chemical reaction.
10  The CTC method is required in combination with a QVC 
requirement for a limited number of agricultural prod ucts (HS chapters 15, 18, 20, and 21), and some 
lines in HS chapters 38 (miscellaneous chemical  products), 40 (rubber and products thereof), 64 
(footwear), 84 (machinery and mechanical applianc es), 85 (electrical machinery and equipment and 
parts, telecommunications equipments, sound reco rders, television recorders), and 90 (optical 
instruments, clocks and watches, and musical inst ruments).  In such cases, the value of permitted 
non-originating materials can range from 40% to 60%.  No change in tariff classification is required, 
provided that a certain QVC is reached, for certain products, such as vehicles, aircraft and vessels;  
clocks and watches;  musical instruments;  arms and ammunitions;  toy, ga mes and sport equipments 
for which the QVC ranges from 35% to 50%. 
                                                      
9 Article 4.5 further specifies that the FOB va lue is determined in accordance with the WTO 
Agreement on Implementation of Article VII of the General Agreement on Tariffs and Trade (WTO Customs 
Valuation Agreement), whereas the value of non-originati ng materials is the difference between the total value 
of materials and the qualifying value of materials. The latter shall be calculated as: (a) the total value of the 
material, if the material satisfies the rule establishe d in Annex 4A and has undergone its last production or 
operation in the territory of either Party;  or (b) the value of the material that can be attributed to one or both of 
the Parties if the material does not satisfy the rule in Annex 4A. 
10 Note 1 in Annex 4A specifies that a good that is the product of a chemical reaction shall be 
considered to be originating if the chem ical reaction occurred in the territory of either or both Parties. "Chemical 
reaction" is defined as a process (including a biochemical process) which results in a molecule with a new 
structure by breaking intra-molecular bonds and by forming new intra-molecular bonds, or by altering the 
spatial arrangement of atoms in a molecule. The following  are not chemical reactions for the purposes of this 
definition: (a) dissolving in water or other solvents; (b) the eliminating of solvents including solvent water; or 
(c) the addition or elimination of water of crystallization. WT/REG269/1/Rev.1 
Page 20  
 
  40. Chapter 4 also details the treatment or value of other materials used in the production of a 
good in order to determine its originating status , such as:  accessories, spare parts and tools 
(Article 4.9);  sets and assortments of goods (Artic le 4.10);  packaging materials and containers for 
retail sale and shipment (Articles 4.11 and 4.12);  fungible goods and materials (Article 4.13);  and 
indirect materials used in production (Article 4.14).  Article 4.15 allows transit through non-Parties, 
with or without transhipment or temporary storage, provided that the originating good:  (a) did not 
undergo operations other than preservation, unloading, or reloading;  (b) did not enter the trade of 
such non-Parties after its shipment from the Party and before import by the other Party;  and (c) 
complies with the customs procedures of the impor ting Party under the Agreement.  The customs 
authorities of the importing Party shall be provided with the commercial shipping or freight 
documents in the case of transit or transhipment without temporary storage and with either customs 
documents of the third country or documents of th e competent authorities or authorized operators in 
the case of temporary storage (Article 4.15.3). 
41. Article 4.16 provides for modifications of the spec ific rules of origin in Annex 4A.  Either 
Party may submit a proposed notification to the Commission for consideration.  The Commission may 
refer the matter to an ad hoc  working group within 30 days of the receipt of the proposal, unless 
otherwise agreed.  The working group shall meet within 90 days and shall report to the Commission its conclusions and recommendations on the proposed  modifications, if any.  The Commission may 
take any action it considers appropr iate, and the Parties shall endea vour to conclude the modification 
process within 180 days from the da te of submission of the proposal. 
5. Export duties and charges, and quantitative restrictions 
42. Article 2.6 prohibits the Parties from adopting or  maintaining any export duty, tax, or other 
charge, unless it is applied on a national treatment basis. 
43. The Parties shall ensure, in accordance with Article VIII(1) of GATT 1994, that all fees and 
charges of whatever character (oth er than customs duties, charges equivalent to an internal tax or 
other internal charge applied consistently w ith Article III(2) of GATT 1994, and antidumping and 
countervailing duties) imposed on, or in connecti on with export are limited in amount to the 
approximate cost of services rendered and do not repr esent an indirect protection to domestic goods or 
a tax on exports for fiscal purposes (Article 2.8). 
44. Under Article 2.9(2), each Party shall make ava ilable and maintain through the internet a list 
of all fees and charges imposed in connection with exports. 
45. Non-tariff measures that prohibit or restrict the export of any good of a Party, including 
remanufactured goods listed in Annex 4B, are prohibited by Article 2.13, except in accordance with 
Article XI of GATT 1994 and its interpretative notes whic h are incorporated into and made part of the 
Agreement.  Accordingly, a Party may not adopt or maintain export price requirements, except as 
permitted by countervailing and antidumping duty or ders and undertakings, or voluntary export 
restraints inconsistent with Article VI of GA TT 1994, as implemented under Article 18 of the WTO 
Agreement on Subsidies and Countervailing Measu res and Article 8.1 of the WTO Agreement on 
Implementation of Article VI of the GATT 1994.  Each  Party must ensure the transparency of its non-
tariff measures and avoid any unnecessary obstacles to b ilateral trade.  Such prohibitions do not apply 
to the restrictions on exports listed by th e Parties in Annex 2C (see paragraph 27).  WT/REG269/1/Rev.1 
 Page 21 
 
 
  6. Regulatory provisions on trade in goods 
(a) Standards 
(i) Sanitary and Phytosanitary Measures 
46. Chapter 6 applies to all sanitary and phyto-sanitary (SPS) measures of a Party that may, 
directly or indirectly, affect trade between the Pa rties, including:  (a) all SPS standards related to 
goods traded between the Parties;  (b) assessment s of manufacturers or manufacturing processes on 
goods exported from one Party to the other;  and (c ) assessments of official control, inspection and 
approval systems related to SPS measures operated by  the Parties.  The Chapter does not apply to 
standards, technical regulations and conform ity assessment procedures as defined in the WTO 
Agreement on Technical Barriers to Trade (TBT Agreement) which are covered by Chapter 7 
(Article 6.3).   
47. The Parties reaffirm and incorporate into the Agreement their rights and obligations under the 
WTO Agreement on the Application of Sanitary  and Phytosanitary Measures (SPS Agreement) 
(Article 6.4).  Article 6.16 specifies that the Par ties are not limited by the Chapter's provisions in 
determining their own level of protection of, inter alia , human health or safety, animal or plant life or 
health. 
48. The Parties shall seek to identif y initiatives aimed at facilitating bilateral trade, such as 
cooperation on regulatory issues, unilateral recogn ition of equivalence, harmonization, or other 
cooperative agreements (Article 6.5).  The Parties shall recognize the principle of equivalence as set 
out in Article 4 of the WTO SPS Agreement and follow the procedures developed by the SPS Committee and the Codex Alimentarius Commission, the World Organization of Animal Health, and 
the International Plant Protection Convention, as am ended from time to time (Article 6.7).  While 
giving favourable consideration to accepting the equivalence of their respective SPS measures, the 
Parties shall still require a product to comply with  any other relevant mandatory requirement when 
imported into their territories (Article 6.7(4)).  Where an agreement on recognition of the equivalence 
is under negotiation or has not been approved yet, the Parties should not cease to apply or apply more 
restrictive SPS measures than those in force in their mutual trade, except in cases where SPS 
emergencies arise or threaten to arise (Article 6.7(5)).  
49. SPS measures must be based on risk assessme nts procedures developed by relevant 
international organizations
11;  where a Party decides to reassess  the risk of a product which is 
regularly traded, that Party shall not interrupt the trade of such a product unless a SPS emergency 
arises (Article 6.8).  
50. Article 6.9 requires the importing Party to decide  on the request of the exporting Party, within 
a period of time mutually agreed, to recognize its  pest or disease-free area or low pest or disease 
prevalence status to facilitate bilate ral trade.  Where such recognition is granted to the relevant areas 
in the exporting Party by the relevant internationa l organizations, the importing Party, on request and 
in an expeditious way, shall give  favourable consideration to provi ding recognition to the relevant 
areas as well.  
51. The Parties also undertake on a best-endeavour s basis to harmonize their respective SPS 
measures, in accordance with Artic le 3 of the WTO SPS Agreement (Article 6.6), and in the area of 
technical cooperation and capacity building to addre ss plant, animal, and public health and food safety 
issued of mutual interest (Article 6.14).  Cont rol, inspection and approval procedures shall be in 
                                                      
11 Article 6.2(1) specifies that "relevant international organizations" refers to the organizations 
mentioned in the WTO SPS Agreement. WT/REG269/1/Rev.1 
Page 22  
 
  accordance with Annex C of the WTO SPS Agreement and internati onal standards, guidelines, and 
recommendations of the relevant interna tional organizations (Article 6.10).  
52. Transparency provisions are laid down in Article  6.11.  Each Party undertakes to notify its 
proposed SPS measures to the other Party's contact point at least 60 days before their adoption.  In cases of urgency or "duly justified" urgency
12, a Party may adopt SPS measures without respecting the 
terms of notification, provided that it informs the ot her Party within five days from the adoption of the 
measure.  The Party adopting the measure shall gr ant the affected Party the possibility of making 
comments on the measure and will take the comments in to account.  The Parties will also cooperate to 
resolve instances of non-compliance by imported produc ts with a properly adopted SPS measure.  The 
importing Party shall not suspend trade based on one such shipment, unless specifically required by 
its domestic legislation, and shall contact the expor ting Party to consult on the adoption of remedial 
actions by the exporting Party.  
53. Article 6.12 requires each Party to designate a Coordinator responsible for coordinating with 
competent SPS authorities and interested persons in its territory and for communicating with the other 
Party's Coordinator on any matter relating to the Chapter.13  A Joint Committee, comprising 
representatives of both Parties' competent trade and SPS authorities, shall also be established to deal 
with any matter that can not be resolved by th e Coordinators (Article 6.13).  The Joint Committee 
shall meet whenever necessary and shall be co-chaired by the Parties' Coordinators.14  
54. Where a Party considers that a SPS measure a ffecting bilateral trade warrants technical 
consultations, it may request such a consultation within the Joint Committee (Article 6.15).  The 
consultation shall be held within 30 days from the request, unless otherwise agreed, and through the 
means chosen by the Parties (teleconference, video-c onferences, etc.).  Where the Parties do not find a 
mutually agreed solution, they shall have rec ourse to the dispute settle ment mechanism under the 
Agreement.  
(ii) Technical Barriers to Trade  
55. Chapter 7 applies to any and all standards, technical regulations and conformity assessment 
procedures of the Parties that may affect, directly or indirectly, bilateral trade.15  It does not cover SPS 
measures (under Chapter 6), and purchasing specifica tions prepared by governmental bodies for their 
production or consumption requirement s (under Chapter 9).  In addition, the Parties are not prevented 
from adopting or maintaining standards or technical  regulations in accordance with their rights and 
obligations under the WTO TBT Agreement, taking into account the risk non-fulfilment would create 
(Article 7.3). 
56. Pursuant to Article 7.5, each Party undertakes, to the maximum extent possible and in 
accordance with Article 2.4 of the WTO TBT Agreemen t, to use relevant international standards as a 
basis for its technical regulations.16   
                                                      
12 According to the Parties, a "duly justified" urge ncy is determined by each Party on the basis of 
scientific evidence and following the prin ciples of the WTO SPS Agreement.  
13 The Coordinator in Peru is the Mi nistry of Foreign Trade and Touris m, or its successor or designated 
contact point;  and in Singapore, the Ministry of Trade and Industry, or its  successor or designated contact point 
(Article 6.16(2)). 
14 According to the Parties, as at July 2010, the Joint Committee had not been appointed. 
15 Footnote 7-1 specifies that any reference in Ch apter 7 to a standard, technical regulation, or 
conformity assessment procedure includes those related to metrology, and that Chapter 7 applies to trade in 
goods between the Parties re gardless of their origin. 
16 Article 7.5(2) clarifies that in order to dete rmine whether an international standard, guide or 
recommendation within the meaning of  Articles 2 and 5 and Annex 3 of the WTO TBT Agreement exists, each  WT/REG269/1/Rev.1 
 Page 23 
 
 
  57. Each Party shall give favourable considerati on to accept as equivalent the other Party's 
technical regulations -even if they are different fro m its own- provided that they produce equivalent 
outcomes to those of its own technical regulations in meeting legitimate objectives or achieving the same level of protection.  To this end, a Party seeking equivalence of its technical regulations shall 
provide, as appropriate:  (a) information on the re lationship between its technical regulations and 
international standards;  (b) the circumstances th at gave rise to the adoption of the technical 
regulation;  and (c) information on the similarity  of the established mechanisms of conformity 
assessment.  Either Party shall provide, upon request, any available information, studies, or other relevant documents used in the development of  its technical regulations, except confidential 
information, to the Party interested in developing similar technical regulations in order to minimize 
the duplication of expenses.  Where a Party does not accept as equivalent a technical regulation of the 
other Party, it shall, upon request by the other Pa rty, give its reasons.  The Parties may agree to 
establish an ad-hoc working group to engage in th e acceptance of equivalent technical regulations 
(Article 7.7).
 
58. Article 7.8 lists a number of existing mechan isms the Parties may use to facilitate the 
acceptance of the results of conformity assessme nt procedures in their respective territories.17  
Article 7.8(3) requires each Party to accredit, approve, license or otherwise recognize conformity 
assessment bodies in the territory of the other Part y in conformity with the principle of national 
treatment.  Where a Party:  (a) does not accept the results of conformity assessment procedures of the 
other Party;  (b) does not respect the principle of national treatment;  or (c)  refuses to engage or 
conclude negotiations with the othe r Party for the recognition of the conformity assessment results of 
its conformity assessment bodies, it shall, upon request of the other Party, explain its decision to allow 
the affected Party to take corrective action.18  In the latter case, the Parties may also decide to 
establish an ad-hoc working group.  
59. Trade facilitation measures are set out in Article  7.6.  Where a Party detains a good of the 
other Party at its port of entry due to a perceived fa ilure to comply with its technical regulations, it 
shall immediately notify the importer of the reasons for detention (Article 7.6(3)).  
60. Transparency provisions require the Parties to  transmit electronically through their contact 
points (established in accordance with Article 10 of the WTO TBT Agreement) the proposed 
technical regulations and/or conformity assessments at  the same time as their notification to the WTO, 
pursuant to the WTO TBT Agreement (Article 7.9).  They shall also notify/publish those technical 
regulations, whether they are in accordance with the technical conten t of the relevant international 
standards or not.  The other Party has at least 60 days from the transmission of notification to 
comment on the measure and request consultations.  In case of an emergency, a Party adopting the 
technical regulations and/or conformity assessments shall send electronically such documents to the 
other Party at the same time it notifies the WTO.  E ach Party is required to publ ish, or make otherwise 
available to the public, its responses to significant comments received from persons of the other Party 
                                                                                                                                                                     
Party shall apply the principles set out in the Decisions and Recommendations adopted by the WTO TBT 
Committee since 1 January 1995, G/TBT/1/Rev.8, 23 May 2002, Section IX (Decision of the Committee on Principles for the Development of International Standards, Guides and Recommendations with relation to 
Articles 2, 5 and Annex 3 of the WTO TBT Agreement) issued by the WTO TBT Committee. 
17 These include:  supplier’s declaration of conformity;  voluntary arrangements between the Parties’ 
conformity assessment bodies;  acceptance of the results of conformity asse ssment procedures with respect to 
specific technical regulations conducted by conformity assessment bodies located in the other Party’s territory;  
the adoption of accreditation procedures for qualifying conformity assessment bo dies located in the other Party's 
territory; designation of conformity assessment bodies located in the other Party's territory; and unilaterally 
recognition of the results of conformity assessment proc edures conducted in the other Party's territory with 
respect to a sector nominated by other Party. 
18 According to the Parties,  they have the opportun ity to correct any action, information, fulfilment of 
any administrative procedure or any other action necessary to attain the acceptance of the application concerned. WT/REG269/1/Rev.1 
Page 24  
 
  no later than the date it publishes the final technical  regulation or conformity  assessment procedure.  
Such measures shall enter into force after six mont hs from their date of publication, at the latest, 
unless such time period undermines the objective of thei r adoption.  Article 7.9 shall be implemented 
as soon as it is practicable and, under no circumstance s, later than two years from the entry into force 
of the Agreement.
19 Article 7.12 requires that any exchange  of information or explanation upon 
request by a Party relating to TBT issues take pl ace in print or electronically within 30 days.20 
61. Article 7.11 establishes the Parties' Coordinators on Technical Barriers to Trade, comprising 
representatives of each Party.21  The Coordinators shall meet at least once a year, unless otherwise 
agreed.  Among other functions, the Coordinators shall resolve any matters arising under Chapter 7 
through consultations, which shall last not more than 30 days.  Su ch consultations shall constitute 
consultations in the meaning of Article 17.4.   
(b) Safeguard mechanisms 
(i) Global safeguards 
62. The Parties retain their rights and obligat ions under Article XIX of GATT 1994 and the WTO 
Agreement on Safeguards (Article 8.6(1)).   
63. A Party may decide to adopt a safeguard me asure pursuant to Article XIX of GATT 1994 and 
the WTO Agreement on Safeguards on originating impor ts from the other Party only if such imports 
constitute a substantial cause of serious injury, or th reat thereof.  Imports from a Party shall not be 
considered as part of the substantial cause of seri ous injury, or threat thereof, where they represent 
less than 5% of the total volume of imports of a sp ecific good (Article 8.6(2) and (3)).  The same good 
cannot be subject, at the same time, to a bilatera l safeguard under the Agreement and to a measure 
pursuant to WTO provisions (Article 8.6(4)).  
(ii) Bilateral safeguards 
64. The Agreement provides for the adoption of saf eguard measures on bilateral trade only during 
the transition period of ten years from entry into fo rce of the Agreement.  Where the good subject to a 
safeguard measure is to be liberalized over a period of ten years or more according to each Party's 
schedule, the transition period for the adoption of safeguards shall correspond to the tariff elimination 
schedule for that good plus five years (Article 8.1(7)). 
65. In order to impose a safeguard measure, Article 8.2 requires that, as a result of unforeseen 
circumstances or of the reduction or eliminati on of a customs duty under the Agreement, an 
originating good is imported into a Party’s territory in such increased quantities, in absolute terms or 
relative to domestic production, and under such conditions as to constitute a cause of serious injury, or 
threat thereof, to a domestic industry pro ducing a like or directly competitive good. 
66. The importing Party may, to the extent necessary to prevent or remedy serious injury, or 
threat thereof, and to facilitate adjustment:  (a) suspend the reduction of customs duty on the good, in 
                                                      
19 Peru informed the WTO Secretariat that Article 7.9 has been implemented, except for the publication 
of its responses to comments received.  Si ngapore did not provide any information.   
20 Article 7.12(2) specifies that with respect to in formation exchange, in compliance with Article 10 of 
the WTO TBT Agreement, the Parties shall apply the recommendations included in the document on Decisions 
and Recommendations adopted by the Committee since 1 January 1995,G/TBT/1/Rev. 8, 23 May, 2002, Section 
IV (Procedure for information exchanges) as transmitted by the WTO TBT Committee. 
21 These are: for Peru, the Ministry  of Foreign Trade and Tourism, or its successor or its designated 
contact point; and for Singapore, the Ministry of Trade and In dustry, or its successor or its designated contact 
point (Article 7.11(2)).  WT/REG269/1/Rev.1 
 Page 25 
 
 
  accordance with the Agreement's provisions;  or (b ) increase customs duty on the good to a level not 
exceeding the lesser of the MFN applied rate at th e time the measure is applied and the MFN applied 
rate on the day immediately preceding the date of the entry into force of the Agreement (Article 
8.2(2)).  Footnote 8-1 specified that neither Party shall apply tariff rate quotas or quantitative 
restrictions as a form of a safeguard measure.  
67. Safeguards may be applied for two years, extenda ble for an additional year, and not more than 
once on the same good until a period of time similar to the duration of the initial safeguard measure 
has elapsed.  A Party may extend the period of application of the safeguard if the competent 
investigating authority determines that it is necess ary to prevent or remedy serious injury and to 
facilitate adjustment, and there is evidence that the domestic industry is adjusting.  Where the measure 
is being applied for more than one year, the applyi ng Party shall progressively liberalize it at regular 
intervals during the remaining period.  Once the Part y has terminated the safeguard, it shall apply the 
corresponding customs duty rate in its tariff schedule to that good, as if the safeguard had never been 
applied, or eliminate the tariff in equal annual stag es ending on the date set out in its tariff Schedule 
(Article 8.3). 
68. The procedure for application of bilateral safegua rds is described in Article 8.4.  A Party may 
initiate a safeguard investigation upon presentation of a direct claim by the petitioners,  i.e. a company 
or companies that are representative of the domestic  industry producing a like or directly competitive 
good, or on their behalf by an entity or association representing them.22  The competent investigating 
authority has six months from the initiation of the inv estigation to receive and analyze all the relevant 
information and prepare a report.  The report sha ll contain evidence of serious injury, the precise 
description of the good concerned, the measure to be adopted, its initiation and duration, and the 
schedule for its progressive elimination.  Each Part y shall promptly notify the other in writing of the 
initiation of an investigation, the adoption of a measure or a determination to apply or extend a 
measure.  Upon request of the Party affected by the safeguard, the other Party shall enter into 
consultations to review a notification or any public notice or report by the investigating authority in 
connection with the inves tigation (Article 8.5). 
(iii) Balance of payments 
69. Under Article 2.16, the Parties endeavour to avoi d the application of restrictions for balance 
of payments purpose.  Any such measure taken with respect to trade in goods must be in conformity 
with Article XII of the GATT 1994 and the Understa nding on the Balance-of-Payments Provisions of 
the GATT 1994, which are incorporated into and made part of the Agreement. 
(c) Anti-dumping and countervailing measures 
70. The Agreement does not affect the Parties' ri ghts and obligations under Article VI of GATT 
1994 and the Agreement on Implementation of Ar ticle VI of GATT 1994 with regard to the 
application of anti-dumping duties or any amendments  or provisions that supplement or replace them 
(Article 2.14). 
                                                      
22 Article 8.4(2) specifies that the claim shall contain:  the petitioner(s)’ information;  the percentage of 
domestic production of the like or directly competitive good accounted for by the petitioner(s);  a detailed 
description of the good concerned and of its like or dire ctly competitive goods;  information relative to the 
increased imports (volume, price and country of origin) in absolute terms, as well as in relation to total import, 
and relative to domestic industry for the last 36 months for which official statistics are available;  evidence of 
the existence of serious injury, or threat thereof, caused by the imports of the good concerned, for the last 36 months for which information is available;  an enumeration and description of alleged causes of the serious 
injury, or threat thereof;  and identification and justification of co nfidential information. WT/REG269/1/Rev.1 
Page 26  
 
  71. Each Party maintains its rights and obligations under the WTO Agreement on Subsidies and 
Countervailing Measures (Article 2.15(1)).
 
(d) Subsidies and State-aid 
72. Article 2.15(2) prohibits any export subsidy on ag ricultural products destined for the territory 
of the Parties, consistent with the Parties'  rights and obligations under the WTO Agreement on 
Subsidies and Countervailing Measures.  The Parties share the objective of multilateral elimination of 
export subsidies on agricultural products and sha ll work towards an agreement in the WTO to 
eliminate existing subsidies and to prevent th e introduction of new ones (Article 2.15(3)). 
(e) Customs-related procedures 
73. Chapter 5 on customs procedures deals with  trade facilitation measures (Section A, 
Articles 5.1 through 5.12) and proof of origin  (Section B, Articles 5.13 through 5.19).   
74. Under Section A, the Parties undertake to publish, including on the internet, their respective 
customs laws, regulations, and general administra tive procedures and to designate one or more 
enquiry points to address inquiries from interested persons  (Article 5.1);  to adopt or maintain 
procedures for the release of goods, without tempor ary transfer to warehouses or other locations 
(Article 5.2);  to ensure, within two years from the entry into force of the Agreement, efficient 
clearance of all shipments or, where not possible, to expedite express consignmen ts (Article 5.7);  to 
facilitate customs administration through electroni c means, based on methods developed by APEC 
and the World Customs Organization (WCO) (Article 5.3);  and to adopt risk  management techniques 
to focus inspections on high-risk goods and facilitate  clearance of low-risk goods (Article 5.4).  The 
Parties also agree to cooperate in customs admini stration by providing all relevant information on 
originating goods while maintaining the right to de ny access to confidential information that would be 
contrary to the public interest or personal priv acy or financial affairs,  and would impede law 
enforcement or prejudice fair competition (Article 5. 5).  Confidentiality must also be maintained on 
all commercial information related to the or igin verification process (Article 5.6).   
75. Article 5.8 grants importers from either Party access to: (a) an administrative review 
independent of the official or office that  issued the decision or administrative act23;  and (b) a judicial 
review of the decision or administrative act, in accordance with the Party's domestic law.  
76. Three years after the entry into force of the Agreement, each Party's customs administration 
or relevant governmental authority shall provide , upon request from an importer, exporter, or 
producer, a written advance ruling in respect of a good's tariff classification and origin and its 
qualification for preferential treatment (Article 5.10).  The advance ruling must be issued 
expeditiously, and in any case within 120 days of the receipt of all necessary information.  Where the 
requester of the advance ruling provides false information or omits facts or circumstances relevant for the ruling, or does not act in acco rdance with it, the importing Party may apply civil, criminal, or 
administrative penalties in accordance with the provisi ons of Chapters 4 and 5 on origin determination 
and preferential treatment claims, whether solely or in combination, for the violation of a Party's 
customs law. 
77. In the event of any dispute on the classificati on of goods, the Parties shall hold consultations 
in the framework of the WCO, whose advice will be  binding on the Parties (Article 5.11).  A working 
group on customs administration and trade facilitati on may be established under Article 5.12, with the 
                                                     
 
23 Footnote 5-1 clarifies that for Singapore the level of administrative review may include the Ministry 
supervising the customs authority.  WT/REG269/1/Rev.1 
 Page 27 
 
 
  purpose of implementing the provisions of Chapte r 5 and any other initiatives concluded by the 
Parties.24  
78. Section B regulates customs procedures related to origin.  The importer shall furnish a 
Certificate of Origin, together with the supplier' s invoice and other supporting documents, at the time 
of importation of the originating good in order to obtain preferential treatment.  The Certificate of 
Origin must be completed and signed by the exporte r or producer of the good and is valid for 12 
months from the date of issuance.  Where an im porter qualified for preferential treatment but was 
unable to produce a Certificate of Origin or any other evidence to obtain such treatment, the importer 
may, in accordance with domestic legislation or with in one year of import, apply for a refund of any 
excess customs duties paid upon production of a declaration or Certificate of Origin and other such 
evidence as the customs administration may require.  If the Certificate of Origin is fraudulent, the 
importing Party may apply the appropriate penalties under Article 5.9 (Article 5.14). 
79. Article 5.16 requires each Party's exporters a nd producers that have completed and signed a 
certificate of origin, to keep records, including electr onic records, of all the information related to the 
origin of a good for which preferential treatment was claimed in the other Party's territory, for a 
period of four years (or any longer period as agreed by  the Parties) after the date of issuance of the 
certificate.  Records shall be kept also for documentation of each Party's importers claiming 
preferential treatment for a good im ported into a Party's territory.  
80. Verification of origin may be carried out by  the importing Party through (Article 5.17):  
(a) request for information from the importer , responses to which should be provided 
within 30 days from receipt of the request;   
(b) written questionnaires or request for informa tion to the exporter or producer to which 
a response must be provided within 30 days from receipt of the request;    
(c) request for assistance from the compet ent authorities of the exporting Party25;  or  
(d) verification visits to the premises of the exporter or producer in the territory of the 
other Party for which written consent must be given within 30 days from the receipt 
of notification, otherwise the importing Party may deny preferential treatment   
81. At the end of the verification process, which sh all not exceed 120 days for (a) and (b) and 150 
days for (c) and (d) above, the competent authority of the importing Party shall provide a written determination on whether the good is eligible for pref erential treatment within 15 days of the outcome 
of the action taken.  
82. The certificate of origin is waived for im ports whose value is below US$1,500 (or its 
equivalent in either Party's currency), or any othe r value as agreed by the Parties, provided that the 
import is not part of a series of imports that may reasonably be considered as circumventing the 
certification requirements (Article 5.15).  
                                                     
 
24 The Parties informed the WTO S ecretariat that, as at July 2010 ,  the working group on customs 
administration had not been established. 
25 The competent government auth ority is, according to Article 5. 13(1):  for Peru, the National 
Direction of Integration and International Trade Negotiations of the Ministry of Foreign Trade and Tourism, or 
its successor;  and for Si ngapore, the Singapore Customs, or its successor. WT/REG269/1/Rev.1 
Page 28  
 
  (f) Other regulations 
(i) Competition 
83. The Agreement contains a Chapter on Compe tition Policy (Chapter 14) whose purpose is 
promoting fair competition and the curtailment of anti-competitive business conduct within the free trade area (Article 14.1).  To this end, the Par ties shall adopt or maintain competition laws that 
proscribe anti-competitive business conduct and promot e economic efficiency and consumer welfare 
(Article 14.2).  They also endeavour to cooperate  and coordinate to further effective competition 
policy development (Article 14.3).  Article 14.4 requires each Party to notify the other, at an early 
stage, of any enforcement of anti-competitive activity  where it may affect important interests of the 
other Party, provided that this is not contrary to the Parties' competition laws and does not affect the 
investigation being carried out.  Each Party sh all provide, upon request by the other, public 
information concerning its competition law enforcem ent activities and exemptions (Article 14.5).  
Consultations may be requested by any Party in order to foster mutual understanding or address 
specific matters arising under the Chapter (Article 14.6).  In the latter case, the Party requesting 
consultations shall indicate how the matter affects bi lateral trade or investment.  Any information or 
document used in the consultation process shall rema in confidential.  Article 14.7 does not allow the 
Parties to challenge any decision made by a nationa l authority in enforcing its applicable competition 
law, nor recourse to dispute settlement procedures under the Agreement. 
7. Sector-specific provisions on trade in goods  
(a) Agriculture 
84. Each Party may apply, under exceptional circ umstances, a "special agricultural measure" 
(SAM) in the form of an additional duty for produc ts listed in Annex 3B and for which the Party has 
started customs duty elimination in accordance with  the TEP (Article 3.1).  The products concerned 
include:  dairy products, cereals, vegetable oils, and sugar.
26  The measure entails an increase in the 
tariff rate applicable to a good, but not in excess of its base rate established in Annexes 2A (Peru tariff 
schedule) and 2B (Singapore tariff schedule) (Ar ticle 3.2).  It may be applied as long as the 
Agreement is in force (Article 3.2(2)). 
85. According to Article 3.3 and Annex 3A, the measure  may be triggered by either an increase in 
the volume imported or a decrease in the price of the import in relation to an established threshold: 
(a) Per volume criteria:  the volume of an imported good, including the volume of the 
corresponding shipment during the last 12 calendar months, must exceed 15% of the intervention volume of that good.  The inte rvention volume is determined every year 
on the basis of annual average imports in metric tonnes of the good from the 
exporting Party registered in the 36 calendar months prior to the effective year of the intervention volume.  Each Party shall send a notice to the other of such volume during the first 20 days of January, and the notice shall be valid for a year. 
(b) Per price criteria:  the unitary import price of the corresponding shipment of a good, 
upon its entry into a customs territory , must be no less than 15% below the 
intervention price of that good.
27  The intervention price is determined every year on 
the basis of the average CIF import unit pr ice expressed in US dollars, corresponding 
                                                      
26 The detailed list of such products is contained in Annex II to this presentation. 
27 For goods entering Peru, the unit import price – i.e. the implicit price resulting from the CIF value 
quotient and the value of imports performed in a calendar month- mu st be determined in accordance with the 
CIF import price expressed in US  dollars (Article 3.3(4)).  WT/REG269/1/Rev.1 
 Page 29 
 
 
  to the last 36 calendar months prior to the effective year of the intervention price.  
Each Party shall send a notice to the other of these prices during the first 20 days of January, and the notice shall be valid for a year. 
86. Annex 3A specifies additional criteria for the application of the SAM which are summarized 
in Table III.4 below.  Where the import unit volume of a determined good is 15% or less of the 
intervention volume, or the difference between th e import unit price of a determined good and the 
intervention price is 15% or less of the intervention price, no additional duty is necessary.  In all other 
cases presented in Table III.4,  the SAM is applicab le and it is the result of the difference between the 
base rate and the preferential rate indicated by each Party in its tariff schedule to Annexes 2B and 2C. 
Table III.4  
Criteria for the application of the Special Agriculture Measure 
Criteria Trigger Increase in tariff rate 
Import unit volume is 
= <15% of the intervention volume None 
Import unit volume is  
between 15% and 50% of the intervention volume 50% of the difference between the base rate and the preferential 
rate   
 
 
Volume 
(MT) 
Import unit volume is  
>50% of the intervention volume difference between the base rate and the preferential rate 
Difference between the import unit price and the 
intervention price is  
= < 15% of the intervention price None 
Difference between the import unit price and the 
intervention price is  
between 15% and 50% of the intervention price 50% of the difference between the base rate and the preferential 
rate     
Price 
(CIF price in 
US$) 
Difference between the import unit price and the 
intervention price is  
> 50% of the intervention price difference between the base rate and the preferential rate 
 
Source: Annex 3A of the Agreement. 
 
87. Article 3.3(6) prohibits the Parties from applying the SAM when:  (a) no imports are 
registered by the Parties during the 24-month period pr ior to the last 12 months;  or (b) imports of a 
good from the exporting Party do not exceed 15% of the total imports of that good by the importing 
Party during a 24-month period prior to the last 12 m onths.  The SAM may not be applied at the same 
time as the application of a safeguard measure on the same good pursuant to Chapter 8 or a safeguard 
measure under Article XIX of GATT 1994 and the WT O Agreement on Safeguards (Article 3.4(2)). 
88. A Party applying the SAM shall inform the other not more than 10 days after its application, 
providing background information on the measure.  Upon request by the other Party, the Party 
applying the measure shall conduct consultati ons on this matter (Article 3.4(1)).  
(b) Price Band System 
89. Since mid-2001, Peru has applied a price band system scheme aimed at stabilizing 
fluctuations in international prices of certain agricu ltural products to give some certainty to producers' 
decisions regarding sowing, production and commercialization.28  The scheme applies to 47 tariff 
                                                      
28 The price band system is established by Supreme Decrees No. 115-2001-EF of 22 June 2001 and No. 
197-2002-EF of 31 Decembe r 2002, and any subsequent legal modifications.   WT/REG269/1/Rev.1 
Page 30  
 
  lines at the 10-digit level including:  rice, yellow maize, milk, and sugar (see Annex III to this 
presentation).
29 
90. Tariffs are determined according to the positio n of each product's price on an international 
reference market in relation to the "band", composed  of "floor" and "ceiling" prices determined on the 
basis of previous prices.  When the price on the international reference market is below the floor 
price, a tariff surcharge is imposed.  When the pri ce on the international refe rence market rises above 
the ceiling price, a reduced rate of tariff is applie d.  When the reference price is between the ceiling 
and the floor prices, the corresponding tariff rate applies.  Every fortnight, the Ministry of Economy and Finance publishes four reference prices, one fo r each "marker" product subject to the price band 
scheme.  These are derived from th e average prices for the previous fortnight on the corresponding 
international reference market, converted into c.i. f. prices.  The reference markets are defined in 
Annex IV to Supreme Decree No. 115-2001-EF of  22 June 2001 and amendments thereto.
30 
IV. TRADE IN SERVICES AND INVESTMENT 
A. SCOPE AND DEFINITIONS  
91. Chapter 11 regulates cross-border trade in services,  while investment is addressed in Chapter 
10.  Chapter 12 and its Annex regulate the temporar y entry of business persons.  Chapter 11 covers 
the supply of a service under GATS mode 1 (cross-bor der trade), mode 2 (consumption abroad), and 
mode 4 (temporary movement of natural persons),  but excludes the supply of a service, or an 
investment, in a Party's territory by an investor of the other Party (Article 11.1(1)) which is dealt with 
in Chapter 10.  However, provisions on market a ccess (Article 11.5), domestic regulation (Article 
11.8), and transparency (Article 11. 13) also apply to measures of a Party affecting the supply of a 
service in its territory by an investor or an investment of an investor of the other Party 
(Article 11.2(2)).31   
92. According to Article 11.2, Chapter 11 endorses me asures adopted or maintained by a Party's 
central, regional or local governments and au thorities and delegated non-governmental bodies 
affecting cross-border trade in services by service suppliers of the other Party.32  For the purpose of 
Chapter 11, "service supplier of a Party" means a person of that Party that seeks to supply or supplies 
a service (Article 11.1(4)), while with respect to  provisions of Articles 11.3 (National Treatment), 
11.4 (Most-Favoured-Nation Treatment), and 11.5 (Market Access), it has the same meaning as 
"services and service suppliers" under Articles II, XVI, and XVII of the GATS.  "Enterprise of a Party" means an enterprise organized or constituted u nder the laws of a Party or a branch located in 
the territory of a Party and carrying out substa ntive business activities there (Article 11.1(2)). 
93. Chapter 11 does not apply to:  (a) government proc urement, as defined in Chapter 9;  (b) air 
services, including domestic and international air tr ansportation services, whether scheduled or non-
scheduled, and related services in support of air ser vices other than aircraft repair and maintenance 
services, selling and marketing of air transport services, and computer reservation system services;  (c) subsidies or grants provided by a Party or public enterprises, including government-supported 
                                                     
 
29 Products covered by the scheme are listed in Annex IV to Supreme Decrees No. 115-2001-EF. 
30 WTO (2007), Trade Policy Review of Peru . 
31 Footnote 11-3 clarifies that nothing in Chapter 11  is subject to investor-state settlement pursuant to 
Article 10.17. 
32 These include:  (i) production, distribution, marketing, sale and delivery of a service;  (ii) purchase or 
use of, or payment for, a service;  (iii) access to and use of distribution,  transport, or telecommunications 
networks and services in connection with the supply of a service;  (iv) presence in its territory of a service 
supplier of the other Party; and (v)  provision of a bond or other form of financial security as a condition for the 
supply of a service (Article 11.2(1)(b)).  WT/REG269/1/Rev.1 
 Page 31 
 
 
  loans, guarantee and insurances33;  (d) services supplied in the exercise of governmental authority34;  
and (e) measures affecting the supply of financial services as defined in paragraph 5(a) of the GATS 
Annex on Financial Services.   
94. The Agreement specifies that the Parties' obligatio ns with respect to financial services shall be 
in accordance with the GATS, and are incorporated by reference into th e Agreement (Article 11.2(7)).  
The chapter also incorporates by reference th e GATS Annex on Telecommunication Services and the 
GATS Reference Paper attached to the Parties' GA TS Schedule of Commitments (Article 11.2(8)).  
The Chapter's coverage may be ame nded, after consultation between the Parties, in the event that the 
results of negotiations on Article XV.1 of th e GATS come into effect (Article 11.2(3)). 
95. Chapter 11 does not impose any obligation on a Party with respect to a national of the other 
Party seeking access to its employment market or empl oyed on a permanent basis in its territory, and 
does not confer any right on that national with respect  to that access or employment (Article 11.2.(4)).  
The Chapter does not prevent the Parties from applyi ng measures to regulate the entry of nationals of 
the other Party into, or their temporary stay in, their respective territories, including measures necessary to protect the integrity of nationals of th e other Party and to ensure the orderly movement 
across their borders, provided that such measures ar e not applied in a manner as to nullify or impair 
the benefits accruing to the other Party under the terms of the Chapter (Article 11.2(6)). 
96. Article 11.14 provides for consultations within  the Free Trade Commission to review the 
implementation of the Chapter's provi sions and consider any other matters  of mutual interest affecting 
trade in services.  The Parties may also consu lt on the feasibility of removing any remaining 
citizenship or permanent residency requirements for the supply of services in their territories, and on 
the development of procedures that could contribut e to greater transparency of measures amending 
existing non-conforming measures (Ar ticle 11.7(1)(c)) and of any fu ture non-conforming measures to 
be adopted by the Parties pursuant to Article 11.7( 2).  Article 11.13 requires each Party to promptly 
publish, or otherwise make publicly available, inte rnational agreements pertaining to, or affecting 
trade in services to which it is a signatory a nd to which either Party is a signatory.  
97. Disciplines on investment set out in Chapter 10 replace the Bilateral Investment Treaty (BIT), 
concluded by the Parties on 27 February 2003.  The BI T ceased to have effect upon entry into force of 
the Agreement.  All investments made pursuant to  the BIT before the entry into force of the 
Agreement will be governed by the BIT. An investor  may submit an arbitration claim pursuant to the 
BIT on any matter arising while the BIT was in for ce, pursuant to the rules and procedures established 
in the BIT, provided that no more than three year s have elapsed since the entry into force of the 
Agreement (Article 10.20).  In this regard, Article  10.2(6) specifies that Chapter 10 does not apply to 
claims arising out of events which occurred, or whic h were raised, prior to the entry into force of the 
Agreement. 
98. Chapter 10 applies to measures adopted or ma intained by a Party with respect to:  
(a) investors of the other Party;  (b) investments of  investors of the other Party, made, in the process 
of being made, or sought to be made in its territory ;  and (c) with respect to Article 10.7 (Performance 
Requirements), to all investments in the territory of  the Party (Article 10.2(1)).  The Chapter defines 
"investor of a Party" as an enterprise of a Party or a natural person who resides in a Party's territory or 
elsewhere and who, under the law of that Party, is a citizen of that Party or has the right to permanent 
residence in that Party, that has made, is in the pr ocess of making, or is seeking to make an investment 
                                                     
 
33 However, Chapter 16 on Transparency applies to su bsidies or grants provided by a Party or public 
enterprises, including government supported loans, guarantees, and insurances. 
34 Article 11.2(5) specifies that a service supplied in  the exercise of governme ntal authority means any 
service which is supplied neither on a commercial basis nor in competition with one or more service suppliers. WT/REG269/1/Rev.1 
Page 32  
 
  in the territory of the other Party.
35  "Investment" is defined as every kind of asset, owned or 
controlled, directly or indirectly, by an investor  that includes characteris tics such as the commitment 
of capital or other resources, the expectation of gain or profit, or the assumption of risk.36 
99. Chapter 10 does not apply to any taxation meas ure, unless otherwise provided;  government 
procurement;  and services supplied in the exercise of governmental authority within the territory of 
the respective Party (Article 10.2(2)).  It does not cover measures adopted or maintained by a Party in 
respect of the other Party's investors and their invest ments in financial institutions in the other Party, 
except for the provisions of Articles 10.8 (Investme nt and Environment), 10.9 (Special Formalities 
and Information Requirements), 10.10 (Expropriation and Nationalisation), 10.11 (Transfers), 10.12 
(Restrictions to Safeguard the Balance of Paym ents), 10.13 (Senior Management and Board of 
Directors), 10.15 (Denial of Benefits), and 10.17 (Investor-state Dispute Settlement).  Where a Party 
requires a service provider of the other Party to post a bond or other form of financial security as a condition for providing a service in its territory, this requirement does not of itself make the 
provisions of Chapter 10 applicable to the supply of  that cross-border service. However, the Chapter 
does apply to that Party’s treatme nt of the posted bond or financ ial security (Article 10.2(5)). 
100. In the event of any inconsistency between  Chapter 10 and any other Chapter of the 
Agreement, the latter shall prevail to the exte nt of the inconsistency (Article 10.2(3)). 
B. D
ENIAL OF BENEFITS  
101. Subject to prior notification and consultation, a Party may deny the benefits of Chapter 11 to a 
service supplier of the other Party that is an enterp rise owned or controlled by  persons of a non-party, 
or of the denying Party, and such enterprise has no substantive business operations in the territory of 
the other Party (Article 11.12).  
102. Under Article 10.15, a Party may deny the benefits  of Chapter 10, subject to prior notification 
and consultation, to an investor of the other Part y that is an enterprise of such Party and to its 
investments, where it is established that the ente rprise is owned or controlled by persons of a 
non-party or of the denying Party, and the enterpri se does not have substantive business operations in 
the other Party's territory. 
C. GENERAL PROVISIONS ON TRADE IN  SERVICES AND INVESTMENT  
1. Market access 
103. Article 11.5 prevents the Parties from adopting or maintaining, either on the basis of a 
regional sub-division or of the entire territory, measu res that:  (a) impose limitations on the number of 
service suppliers, the total value of service transactions or a ssets, the total number of service 
operations or the total quantity of services output, a nd the total number of natu ral persons that may be 
                                                      
35 Where a natural person has a dual citizenship, he or she shall be deemed to be exclusively a citizen 
of the State of his or her dom inant and effective citizenship. 
36 The definition of investment includes but is not limited to:  an enterprise;  shares, stock, and other 
forms of equity participation in an enterprise, including rights derived there from;  bonds, debentures, and loans and other debt instruments including rights derived there from;  futures, options, and other derivatives;  turnkey, 
construction, management, production, concession, revenue -sharing, and other similar contracts;  claims to 
money or to any contractual performance related to a business and having an economic value;  intellectual property rights and goodwill;  licenses, authorizatio ns, permits, and similar rights conferred pursuant to 
applicable domestic law, including any concession to sear ch for, cultivate, extract or  exploit natural resources;  
and other tangible or intangible, movable or immovable property, and related property rights, such as leases, mortgages, liens, and pledges.  For greater certainty, the definition of investment does not include loan issued by 
a Party to the other, and an order or judgement entered in a judicial or administrative action.  WT/REG269/1/Rev.1 
 Page 33 
 
 
  employed in a particular service sector;  and (b) r estrict or require specific types of legal entities or 
joint ventures through which a service supplier may provide a service.  
2. National and MFN treatment 
104. Under Articles 11.3 and 11.4, each Party shall acco rd to service suppliers of the other Party 
treatment no less favourable than that accorded, in like circumstances, to its own service suppliers and 
those of a non-party.  
105. Articles 10.3 and 10.4 grant national and MFN trea tment to investors of the other Party and 
their investments with respect to the establishm ent, acquisition, expansi on, management, conduct, 
operation, and sale or other disposition of investments in its territory.   
106. Notwithstanding Article 10.3 (National Treatment),  a Party may adopt or maintain a measure 
that prescribes special formalities in connection with investments of an investor of a Party, provided 
that such formalities do not materially impair the pr otection afforded by a Party to investors of the 
other Party and their investments pursuant to Ch apter 10.  Notwithstanding Articles 10.3 (National 
Treatment) and 10.4 (MFN treatment), a Party may re quire an investor of the other Party or such 
investor’s investment to provide information conc erning that investment solely for information or 
statistical purposes.  The Party shall protect any confidential business information from any disclosure 
that would prejudice the competitive position of the investor or the investment of an investor of a Party (Article 10.9). 
107. Neither Party may require that an enterprise of a Pa rty that is an investment of an investor of 
the other Party appoints to senior management positions  individuals of any particular nationality.  A 
Party may require that a majority of the board of  directors, or any committee thereof, be of a 
particular nationality or be resident in the territory of the Party, provided that such a  requirement does 
not materially impair the ability of the investor to exercise control over its investment (Article 10.13). 
3. Local presence 
108. Neither Party shall require a service supplier of  the other Party to establish or maintain a 
representative office or any form of enterprise or to  be resident in its territory as a condition for the 
cross-border supply of a service (Article 11.6). 
4. Performance requirements 
109. The Parties may not impose or enforce any of the performance requirements listed in 
Paragraph 1 of Article 10.7 or any commitment or undertaking in connection with the establishment, 
acquisition, expansion, manageme nt, conduction, operation, or sal e or other disposition of an 
investment of an investor of a Party or of a non-Party in its territory.
37  Neither Party may condition 
the receipt or continued receipt of an advantage,  in connection with the establishment, acquisition, 
expansion, management, conduction, op eration, or sale or other disposition of an investment in its 
territory of an investor of a Party or of a non-Pa rty  on compliance with the performance requirements 
                                                      
37 Performance requirements listed in Article 10.7(1) are:  (a) to export a given level or percentage of 
goods or services; (b) to achieve a given level or percen tage of domestic content; (c) to purchase, use, or accord 
a preference to goods produced in its territory, or to purcha se goods from persons in its territory; (d) to relate in 
any way the volume or value of imports to the volume or value of exports or to the amount of foreign exchange inflows associated with such investment; (e) to restrict sales of goods or services in its territory that such 
investment produces or provides by relating such sales in any way to the volume or value of its exports or 
foreign exchange earnings; (f) to transfer a particular technology, production process, or other proprietary knowledge to a person in its territory; or (g) to supply exclusively from the territory of the Party the goods it 
produces or the services that it provides to a sp ecific regional market or  to the world market. WT/REG269/1/Rev.1 
Page 34  
 
  specified in Paragraph 2
38, except for a requirement to locate production, provide a service, train or 
employ workers, construct or expand particular f acilities, or carry out research and development, in 
their respective territory.  The prohibition of pe rformance requirements listed in paragraph 1(f) of 
Article 10.7 does not apply:  (a) when a Party au thorizes the use of intellectual property rights in 
accordance with Article 31 of the TRIPS Agreement including footnote 7 of that Article, and for 
measures requiring the disclosure of proprietary in formation in accordance with Article 39 of the 
TRIPS Agreement;  or (b) when the requirement is imposed by a court, administrative tribunal, or 
competition authority as a remedy to an anti-competitive practice under a Party's competition laws.  Paragraphs 1(b), (c), and (f), a nd 2(a) and (b) of Article 10.7 do not prevent a Party from adopting or 
maintaining measures necessary to secure compliance w ith laws and regulations that are consistent 
with the Agreement's provisions, to protect human , animal, or plant life or health, or for the 
conservation of living or non-living exhaustible natu ral resources, provided that such measures are not 
applied in an arbitrary, discriminatory or unj ustifiable manner and do not  constitute a disguised 
restriction on international trade or investment.  Paragraphs 1(a), (b) and (c), and 2(a) and (b) of 
Article 10.7 do not apply to qualification requireme nts for goods or services with respect to export 
promotion and foreign aid programm es, while Paragraphs 2(a) and 2(b) do not apply to requirements 
imposed by an importing Party relating to the cont ent of goods necessary to qualify for preferential 
tariffs or preferential quotas.  Furthermore, Article 10.7 does not apply to any requirements other than 
those set out in its paragraph 1, does not permit the Parties to derogate from their rights and 
obligations under the TRIMS Agreement, and does not  affect the application of any commitment, 
undertaking, or requirement between private partie s, where a Party did not impose or require the 
commitment, undertaking or requirement. 
5. Other provisions on investment 
110. Article 10.5 requires each Party to accord to i nvestments of investors of the other Party a 
minimum standard of treatment, in accordance with customary international law, which includes fair 
and equitable treatment and full protection and s ecurity.  The obligations of fair and equitable 
treatment and full protection and security include, resp ectively, the obligations not to deny justice in 
criminal, civil or administrative adjudicatory pro ceedings, and the provision of the level of police 
protection required under customary international law.  Paragraph 3 clarifies that a breach of another 
provision of the Agreement or of a separate intern ational agreement does not establish that there has 
been a breach of Article 10.5. 
111. Chapter 10 also contains disciplines on non-discriminatory treatment in case of measures 
adopted or maintained relating to losses suffered by in vestments owing to armed conflict or civil strife 
(Article 10.6)
39;  expropriation or nationalization, and the payment of prompt, adequate, and effective 
compensation (Article 10.10);  recognition of subrogati on or transfer of any right or title in respect of 
investment (Article 10.16);  purchase of public de bt (Article 10.18);  and investor-state dispute 
settlement, which provides for consu ltations or subsequent recourse to arbitration under the rules and 
procedures of the ICSID, if both Parties are par ties to the ICSID Convention, or under UNICITRAL, 
or any other arbitration institution or rules agr eed between the disputing parties (Article 10.17). 
                                                      
38 These are: (a) to achieve a given level or percentage of domestic content; (b) to purchase, use, or 
accord a preference to goods pr oduced in its territory, or to purchase go ods from persons in its territory; (c) to 
relate in any way the volume or value of imports to the volume or value of exports or to the amount of foreign 
exchange inflows associated with such investment; or (d) to restrict sales of goods or services in its territory that 
such investment produces or provides by relating such sale s in any way to the volume or value of its exports or 
foreign exchange earnings. 
39 Article 10.6 does not apply to existing measures on  subsidies or grants, or to any condition attached 
to their receipt or continued receipt , whether or not offered exclusively to investors of the Party or their 
investments, that would be inconsistent with Article 10.3 (National Treatment) and Article 10.4 
(MFN Treatment), with the exception of Article 10.14 (Non-Conforming Measures).  WT/REG269/1/Rev.1 
 Page 35 
 
 
  112. Article 10.8 allows the Parties to take any measu re otherwise consistent with Chapter 10 that 
is appropriate to ensure that investment activ ities in their respective territories are sensitive to 
environmental concerns. 
6. Movement of natural persons 
113. Chapter 12 and its related Annex set out the provisions governing the temporary entry of 
business persons.  A "business person" is defined, un der Article 12.3(1), as a national of a Party who 
is engaged in trade in goods, the supply of ser vices, or the conduct of investment activities.  
Chapter 12 does not apply to measures regarding c itizenship, nationality, permanent residence, or 
employment on a permanent basis (Article 12.1(2)).  
114. Under Article 12.2, the Parties agree to appl y expeditiously all measures related to the 
temporary entry so as to avoid unduly impairing or delaying trade in goods, services, or the conduct of 
investment activities under the Agreement.  Neverthel ess,  the Parties  may apply measures to regulate 
the entry of natural persons into, or their temporar y stay in, their respective territories including those 
measures necessary to protect the integrity of, and to  ensure the orderly movement of, natural persons 
across their borders.  The Parties have committed  to grant temporary en try to business persons - 
i.e. business visitors, investors, and intra-company transferees- who are otherwise qualified for entry 
under applicable measures relating to public hea lth and safety and national security, in accordance 
with the Chapter's provisions.  Each Party shall set  any fees for processing applications for temporary 
entry of business persons;  such fees, according to  Article 12.2, shall avoid unduly impairing or 
delaying trade in goods or services or conduct of investment activities under the Agreement (Article 
12.4). Where possible, the Parties will provide  facilities for online lodging and processing of 
employment passes for perspective employers for Singa pore, and of labour contracts for Peru after the 
entry into force of the Agreement (Article 12.5).40  No later than six months after the entry into force 
of the Agreement, each Party is to make availabl e explanatory material for temporary entry in its 
territory in order for business persons of the other Party to become acquainted with them 
(Article 12.6).41 
115. In addition to the general provisions on tran sparency under the Agreement, the Parties are 
required under Article 12.10 to establish or maintain  appropriate mechanisms  to respond to inquires 
from interested persons about regulations on temporar y entry, and to provide information, within a 
reasonable period of time, to applicants about deci sions concerning temporary entry in their respective 
territories.   In case temporary entry is refused, dispute settlement may not be initiated by a Party 
unless the matters involves a pattern of practice and the business person has exhausted all the 
administrative remedies available (Article 12.8).42 
116. Annex 12A specifies the categories of business persons covered by the Agreement and the 
conditions for temporary entry: 
(a) Business visitors must have proof of na tionality of a Party; demonstrate their 
engagement in a business activity and describe the purpose of entry;  demonstrate the 
                                                      
40 As at July 2010, Peru has not yet implemented such facilities, also due to resources and budget 
constraints.  In the case of Singapore, online lodging and processing of employment passes can be done through the Employment Pass Online Portal ( http://www.mom.gov.sg
). 
41 Explanatory material for temporary entry is available at the following websites:  
http://www.digemin.gob.pe/inm_sv_mostrar.asp#  (Peru);  and:  
http://www.mom.gov.sg/publish/mom portal/en/communities/work_pass/em ployment_pass/about_the_pass.html  
(Singapore). 
42 Article 12.8(2) specifies that the remedies are deemed to be exhauste d if a final determination on the 
matter has not been issued by the competent authority within one year of the institution of an administrative 
proceeding;  the failure to issue a de termination is not attributable to a delay caused by the business person. WT/REG269/1/Rev.1 
Page 36  
 
  international scope of the proposed busi ness activity and prove that they are not 
seeking entry to the local labour market. 
(b) Investors must prove they will establish, develop or administer an investment to 
which the business person or the business person's enterprise has committed, or is in the process of committing, a substantial amount of capital, in a capacity that is 
supervisory, executive, or involving essential skills. 
(c) Intra-company transferees must seek to render services to that enterprise or a 
subsidiary or an affiliate thereof, as a ma nager, an executive, specialist and  may be 
required to have been continuously employed by the enterprise for one year within the three-year period immediately preceding the date of the application for admission.  
117. Neither Party may, as a condition for temporar y entry, require prior approval procedures, 
petitions, labour certification tests, or other procedures of similar effect with respect to business visitors and investors, nor impose or maintain any numerical restriction relating to temporary entry of 
business visitors, investors, and intra-corporate transferees.  However, a Party may require the business person who requests temporary entry as a busin ess visitor or as an investor to obtain a visa or 
an equivalent document, in accordance with its domestic law, or labour contract or any other 
document authorizing employment to a business person by the relevant authority as a requirement for temporary entry as an intra-company transferee.  
118. Table IV.1 provides details of the length of stay for the different categories of business 
persons.  Under the Agreement, Singapore accords pr eferential treatment to Peruvian intra-company 
transfers, since it extends the time-limit for tem porary entry from three years, extendable for two 
years (total period of five years) in the GATS, to up to eight years.  Peru does not regulate the entry of 
business persons in its Schedule to the GATS. 
Table IV.1:  Temporary entry for business person s:  categories and applicable length of stay 
Peru Singapore 
Category Length of Stay Category Length of Stay 
Business Visitor Business Visitor Up to  30 days, extendable for a subsequent 
period of up to 60 days, provided that 
conditions are maintained 
Investor (in the process of committing an investment) Up to 90 days, renewable for 30 
days Investors Up to two years. No extensions scheduled 
Investor 
Intra-company transferees Up to 1 year, renewable for 
consecutive periods, the number of times requested if conditions 
are maintained.  Intra-company 
transferees Up to two years, extendable for a period of up 
to three years at a time, for a total term not exceeding eight year s, provided that 
conditions are maintained 
Source : Annex 12A of the Agreement. 
D. LIBERALIZATION COMMITMENTS IN SERVICES AND INVESTMENT  
119. The Agreement follows a "negative-list appro ach" for services and investment, with all 
covered sectors and sub-sectors assumed to be li beralized, unless specified in the Annexes of 
reservations.  Annexes 11B (Peru) and 11C (Si ngapore) list existing non-conforming measures that 
are maintained by the respective Pa rty at the central, regional or local levels of government, as well as 
the continuation, prompt renewal or amendment of these non-conforming measures provided that the 
level of non-conformity is not increased after the amendment.  Such measures do not conform with 
Articles 11.3 (National Treatment), 11.4 (MFN Treatment), 11.5 (Market Access), and 11.6 (Local Presence) for cross-border trade in services, and Articles 10.3 (National Treatment), 10.4 (MFN Treatment), 10.7 (Performance Requirement s), and 10.13 (Senior Management and Board of 
Directors) in the case of investment.  Reservations also apply to any future measures that a Party may 
adopt or maintain with respect to sectors, sub-sect ors and activities listed in Annexes 11D (Peru) and  WT/REG269/1/Rev.1 
 Page 37 
 
 
  11E (Singapore).  Neither Party may, under any me asure adopted after the entry into force of the 
Agreement and covered in Annexes 11D and 11E, require an investor of the other Party by reason of 
its nationality to sell or otherwise dispose of an i nvestment existing at the time the measure becomes 
effective (Article 10.14(3)). 
120. Article 10.14 further specifies that provisions of national and MFN tr eatment (Articles 10.3 
and 10.4), and senior management and board of direct ors (Article 10.13) do not apply for subsidies or 
grants provided by a Party, or to any conditions att ached to the receipt or continued receipt of such 
subsidies or grants, whether or not offered exclusively to investors of the Party or investments of investors of the Party, including government  supported loans, guarantees and insurance 
(Article 10.14(4)).  National and MFN treatment also  do not apply to any measure that is an exception 
to, or derogation from, a Party's obligations under the TRIPS Agreement (Article 10.14(5)). 
1. Peru 
121. Annex 11B lists all existing non- conforming measures maintained by Peru with respect to its 
national treatment, MFN treatment, market access and local presence obligations for cross-border 
trade in services;  and with respect to national treatment, MFN treatment, performance requirements 
or senior management and boards of directors, in the case of investment (see Table IV.2).   
122. In its Schedule of Commitments to the GATS,  Peru has commitments in 7 sectors and some 
50 sub-sectors, whereas no commitments has been undertaken under the sectors groupings of Construction and Engineering, Edu cation, Environmental, Health a nd Related Social Services, and 
Other Services not included elsewhere.  Under the Agre ement, Peru has eliminated some restrictions  
listed in its GATS Schedule:  for instance, no restri ctions apply to distribu tion services and limitations 
to the provision of tourism services under mode 3 have been eliminated.  The telecommunication 
sector has also been liberalized, excep t for the prohibition on call-back.  
123. Under the Agreement, most reservations apply to national treatment and local presence in the 
form of residency and licensing requirements or lim itations on foreign equity participation;  these 
restrictions are also used to offer preferential tr eatment to nationals when hiring.  As in the GATS 
Schedule, restrictions on national treatment have been maintained under the Agreement in sub-sectors 
such as property, architectural, auditing, or teleco mmunications services.  Market access is restricted 
in all sectors for foreign natural persons who are services providers and who are employed by service-provider companies for a period of up to three years, renewable for like periods of time, with limitations to the total number of foreign employee s (20%) and to their share of the payroll (30%), 
with some exceptions.
43  The only reservation to MFN treat ment listed by Peru in Annex 11B 
concerns radio broadcasting services. 
Table IV.2 
Reservations for existing measu res listed by Peru in Annex 11B 
Sector Obligations Mode Description 
All sectors NT  I Ownership restrictions on mining, land, forest, water, fuel or energy sources 
located within 50kms of the Peruvian border. 
All sectors NT/MA/ 
SMBD I/CBTS All employers in Peru shall give pref erential treatment to nationals when hiring. 
Foreign natural persons who are servi ces providers need a written employment 
agreement valid for three years, renewabl e for like periods of time.  Limitations 
on total number of foreign employees (20%) and their share of the payroll (30%), 
with some exceptions. 
Fishing and Related Services NT CBTS Letter of guarantee required by owners  of foreign-flagged vessels issued by a 
recognized financial institution in Peru, whose amount equals 25% of the amount 
to be paid for fishing rights. Foreign- flagged vessels must contain a satellite 
tracking system and host on board a scientific technical observer.  At least 30% of 
crew must be Peruvian.  
Table IV.2  (Cont'd) 
                                                      
43 These exceptions mirror those listed by  Peru in its Schedule to the GATS. WT/REG269/1/Rev.1 
Page 38  
 
  Sector Obligations Mode Description 
Radio and Television 
Broadcasting Services NT/LP I/CBTS Nationality/residency requirement. Maximum foreign participation of up to 40%. 
No authorization or license to foreign national directly or through a sole 
proprietorship. 
Audiovisual Services NT/PR I/CBTS At least 30%, on average, of the total weekly programme s by free-to-air television 
broadcasters must be produced in Peru. 
Radio Broadcasting Services NT/MFN I/CBTS A foreign national may not hold an authorization in a zone bordering its country 
of origin, except for reasons of public necessity. The restriction does not apply to juridical persons with foreign equity with  two or more current authorizations, as 
long as they are of the same frequency band. 
Legal services NT I/CBTS Nationality requirement to supply notary services. 
Architectural services NT I/CBTS Differentiated fee st ructure for architects dependi ng on nationality and degree.  
Contract association with a Peruvian resident architect. 
Auditing services NT/LP I/CBTS Licensing and residency requirement. 
Security services NT/SMBD I/CBTS Nationality/residency requirement. 
National artistic 
audio-visual 
production services NT CBTS Preferences for national artists and t echnicians involved in artistic activities (at 
least 80%), with no less than  60% of the total payroll. 
Circus services NT CBTS Limited stay for foreign ci rcus (up to 90 days). Where the period is extended, 
share of national artistes and technicians in  terms of numbers and of payroll must 
be 30% and 15% respectively. 
Commercial advertising services NT CBTS Preferences for national artists and t echnicians (80%), with no less than 60% of 
the total payroll. 
Bullfighting NT CBTS At least one Pe ruvian bullfighter in any event, and one apprentice bullfighter in 
fights involving young bulls.   
Radio-Broadcasting Services NT/PR I/CBTS Preferences for daily Peruvian programmes (at least 10%). Preferences for 
national artists and technicians (80%), with  no less than 60% of the total payroll. 
Customs Warehouses 
Services LP CBTS Residency requirement for authorization. 
Telecommunications NT CBTS Prohibition on call-back. 
Air Transport NT/LP/ 
SMBD I/CBTS National commercial aviation is rese rved for Peruvian national or juridical 
persons that satisfy the requirements specified in the Annex. 
Aircraft 
Rental/Leasing 
Services NT I/CBTS Authorization requirement. 
Aquatic Transport NT/LP/ 
SMBD I/CBTS Nationality/residency requirement.  
Aquatic Transport NT/LP I/CBTS Residency requirements fo r a number of water transport and related services 
supplied in bay and port areas. 
Aquatic Transport LP CBTS Residency requirement for provision of tour ist water transportation services. 
Aquatic Transport NT CBTS Citizenship requirement to  register in the Registry of Port Workers. 
Land Transport of 
Passengers LP CBTS Local presence requirement. 
Land Transport NT CBTS Prohibition on provision of local transport by foreign vehicles (cabotage). 
Archaeological 
Research Services NT CBTS Archaeological research projects headed  by foreign archaeologists must include a 
registered Peruvian archaeologist. 
Energy-related Services  NT/LP CBTS Registration/incorporation requirement.  
Note: 
CBTS: Cross-border trade in services;  I:  Investment;  LP:  Local presence requirements; MA:  Market access restriction;  
 MFN:  Restriction to MFN treatment;  NT:  National treatment restriction;  PR:  Performance requirements;  
 SMBD:  Restrictions affecting senior  management and board of directors. 
 
Source : Annex 11B of the Agreement. 
124. Annex 11D contains reservations taken by Peru for sectors, sub-sectors and activities for 
which it may maintain existing, or adopt new or mo re restrictive measures (see Table IV.3 below).  
These include market access restrictions on cross-border trade in services in a number of sectors, 
except for sectors and sub-sectors listed in the Annex44, and MFN reservations for all sectors to 
                                                      
44 These are: legal services; archit ectural services; engineering servi ces; veterinary services; services 
provided by midwives, nurses, physiotherapists and paramedical personnel; computer and related services; real 
estate; rental/leasing services; advertising services; ma rketing research and public opinion polling services; 
services incidental to agriculture, hunting and forestry; services incidental to mining; maintenance and repair of equipment (not including vessels, aircraft, or other transport equipment); printing and publishing services; 
telecommunications services; commissi on agents services (except hydrocarbons); retailing services, except  WT/REG269/1/Rev.1 
 Page 39 
 
 
  accord differential treatment to countries under any in ternational agreement in force or signed prior to 
entry into force of the Agreement, and to acco rd differential treatment to other countries under 
international agreements in force or signed after the entry into force of the Agreement involving  
aviation, fisheries, and maritime matters, includi ng salvage.  The same reservation applies to the 
cultural industries sector, where preferential treatment  may be given to persons of other countries 
pursuant to any existing or future international agreement.  National treatment obligation may be 
waived in order to accord prefer ences to minorities or ethnic groups, Peruvian handicrafts, Peruvian 
cinematographic works, and in sectors such as social  services, education, road transport services, and 
audio-visual services. The supply of public potab le water and sewage may be subjected to local 
presence requirements. 
Table IV.3 
Reservations for future measures listed by Peru in Annex 11D 
Sector  Obligations Mode Description 
All sectors MFN I/CBTS Right to adopt or maintain any measure that accords differential treatment to 
countries under any bilateral or multilatera l international agreement in force or 
signed prior to entry into force of this Agreement.   Right to adopt or maintain any 
measure that accords differential treatm ent to countries under any bilateral or 
multilateral international agreement in for ce or signed after  entry into force of 
this Agreement involving: (a) aviation;  (b) fisheries; or (c) maritime matters 
(including salvage). 
Indigenous 
communities, peasant, native and minority 
affairs NT/MFN/LP/
PR/SMBD I/CBTS Right to adopt or maintain any measur e according rights or preferences to socially 
or economically disadvantaged  minorities and ethnic groups.  
Fishing and related 
services NT/MFN/PR I/CBTS Right to adopt or maintain any measure relating to artisanal fishing. 
Cultural industries 
 MFN I/CBTS Right to adopt or maintain any meas ure giving preferential treatment to persons of 
other countries pursuant to any existing or future bilateral or multilateral 
international agreement regarding cultu ral industries, including audio-visual 
agreements.  
Handicraft industries NT/PR I/CBTS Right to adopt or main tain any measure relating to the design, distribution, 
retailing, or exhibition of handicrafts that are identified as Peruvian handicrafts.   
Audio-Visual 
Industry NT/PR I/CBTS Right to adopt or maintain any me asures whereby a specific percentage (up to 
20%) of the total cinematographic work shown on an annual basis in cinemas or 
exhibition rooms in Peru consists of  Peruvian cinematographic works. 
Jewellery Design, 
Theatre Arts, Visual 
Arts, Music, and 
Publishing NT/PR I/CBTS Right to adopt or maintain any measure conditioning the receipt or continued 
receipt of government support for th e development and production of the 
mentioned sectors on the recipient achie ving a given level or percentage of 
domestic creative content. 
Audio-Visual Industry, Publishing and Music  NT/MFN I/ CBTS Any measure that affords a person of  the other Party the treatment that is afforded 
by that Party to Peruvian persons in  the audio-visual, publishing and music 
sectors. 
Social services  NT/MFN/LP/
PR/SMBD I/ CBTS Right to adopt or maintain any me asure with respect to the provision of law 
enforcement and correctional services, and the following services to the extent 
that they are social services establis hed or maintained for a public purpose: 
income security and insurance, social s ecurity, social welfare, public education, 
public training, health, and childcare. 
Public supply of potable water  LP CBTS Right to adopt or maintain any meas ure related to the public supply of potable 
water. 
Public sewage services LP CBTS Right to adopt or maintain any meas ure in relation to public sewage services. 
Telecommunications MFN/LP CBTS Right to adopt or maintain  any measure in relation to the granting of a concession 
for the installation, operation, and e xploitation of public telecommunication 
services. 
Table IV.3 (Cont'd) 
                                                                                                                                                                     
alcohol and tobacco; wholesale trade se rvices (except hydrocarbons); franchi sing; repair services for domestic 
and personal belongings; hotels and restaurants (including catering), travel agencies, tour operator, and tourist 
guide services; entertainment services; exploitation of facilities for competitive and recreational sports; 
recreational parks services; road transport; services auxilia ry to all transport; aircraft repair and maintenance; 
selling and marketing of air transport services, and com puter reservation system services; R&D services in 
natural sciences; R&D services in social sciences and humanities;  and interdisciplinary R&D services. WT/REG269/1/Rev.1 
Page 40  
 
  Sector  Obligations Mode Description 
Education NT/MFN/LP CBTS Right to ad opt or maintain any measure relating to natural persons who render 
educational services, as well as to ot her people who render education-related 
services. 
Road Transport NT CBTS Right to adop t or maintain any measure that authorizes only Peruvian natural or 
juridical persons to supply land transpor tation of persons or merchandises inside 
the territory of Peru (cabotage). 
International Road Transport NT/MFN/LP I/ CBTS Right to adopt or maintain any measure relating to the international land 
transportation of cargo or passengers in border areas. Right to adopt or maintain the following limitations on the service supp lier: be a Peruvian natural or juridical 
person; have a real and effective domicile  in Peru; and, for juridical persons, be 
legally constituted in Peru, with more th an 50% of the capital owned by Peruvian 
citizens and under their effective control. 
All sectors MA CBTS Right to adopt or maintain any measure relating to market access except for a 
number of sectors and sub-sectors which are listed in the Annex. 
Note: CBTS: Cross-border trade in services;  I:  Investment;  LP:  Local presence requirements; MA:  Market access restriction;  
 MFN:  Restriction to MFN treatment;  NT:  National treatment restriction;  PR:  Performance requirements;  
 SMBD:  Restrictions affecting senior  management and board of directors. 
 
Source:  Annex 11D of the Agreement. 
2. Singapore 
125. Annex 11C sets out reservations taken by Si ngapore with respect to measures that do not 
conform to some or all of the obligations im posed by Articles 11.3 (National Treatment), 11.4 
(MFN Treatment), 11.5 (Market Access), and 11.6 (Lo cal Presence) with respect to cross-border trade 
in services; and Articles 10.3 (National Treatme nt), 10.4 (MFN Treatment), 10.7 (Performance 
Requirement), and 10.13 (Senior Management and Bo ard of Directors), with respect to investment 
(see Table IV.4).   
126. Singapore has improved a number of its liber alization commitments under the Agreement 
compared to its GATS Schedule, where it has made commitments in some 70 sub-sectors, covering seven of the 11 sector groupings.  For instance, limitations in the telecommunication sector have been eliminated, with the exception of facilities-, and services-based operators who must be a company 
incorporated under the Singapore Companies Act.  Singapore has no GATS commitments under the 
sectors groupings of Distribution, Education, Environm ental, and Health and Related Social Services. 
127. As in its Schedule to the GATS, Singapore mainta ins restrictions to national treatment for all 
sectors by requiring a foreigner to be  citizen, or permanent resident, or to hold an Employment Pass in 
order to register a business firm without appointing a local manager.  Local presence is also required for many professional services, other business serv ices, telecommunications, and transportation.  
Market access is limited to foreign suppliers in a number of sectors, including leasing or rental 
services, real estate, training of doctors, telecommunications, power supply, and some air transport 
and maritime transport services.  Few MFN reser vations relate to activities such as private 
investigation and unarmed services, traditional Ch inese medicine, air transport and manufacturing 
services.   
Table IV.4 
Reservations for existing measures  listed by Singapore in Annex 11C 
Sector Obligations Mode Description 
All sectors NT/MA CBTS/I Financial institutions extendi ng credit facilities (for more than S$5 million per 
entity) to non-resident financial entities, or arranging S$ equity or bond issues 
for non-residents, shall require that wh ere the S$ proceeds are to be outside 
Singapore they are swapped or converted into foreign currency upon drawn-down or before remittance abroad. Prohib ition to extend S$ credit facilities to 
non-residential financial entities if there is  reason to believe that they may be 
used for speculation. 
Table IV.4 (Cont'd)  WT/REG269/1/Rev.1 
 Page 41 
 
 
  Sector Obligations Mode Description 
All sectors NT I Limitation of the aggregate of foreign shareholdings in PSA Corporation 
and/or its successor body to 49%. 
All sectors MA/NT CBTS/I Limitations of equity ow nership by all individual investors, excluding 
Singapore Government, in the enterprises and/or their successor bodies, as 
listed in the Annex. 
All sectors NT CBTS/I Citizenship/residency/Employm ent Pass requirement to register a business in 
Singapore without appointing a local manager. 
All sectors NT I Right to divest State Land in  a manner inconsistent with National Treatment 
Architectural Services NT/LP CBTS/I Registration requireme nt for persons. Licensing requirement for corporations 
and partnership. 
Financial Auditing  NT/LP CBTS/I Registration requirement. 
Other Tax-related Services NT/LP CBTS/I Residency/registration requirement. 
Land Surveying Services NT/LP CBTS/I Registration requi rement for all persons.  Licence requirements for all 
corporations and partnership. 
Leasing or Rental Services MA/LP CBTS/I Prohibition of cross-border rental of private cars, goods transport vehicles and 
other land transport equipment without operator by Singapore residents with 
the intent to use the vehicles in Singapore. 
Patent Agent Services NT/LP CBTS/I Registration/residency requirement. 
Placement and Supply Services of Personnel LP CBTS Local presence requirement to set up employment agencies and place foreign 
workers. 
Professional Engineering Services NT/LP CBTS/I Registration/licensing requirement. 
Real Estate  MA/NT CBTS/I Only the Sentosa Develo pment Corporation, and/or its successor body, is 
allowed to develop and manage the reso rt island of Sentosa and its waterways 
and the Southern Islands of Singapore. 
Technical Testing and Analysis Services LP CBTS Local presence requirement. 
Private Investigation 
Services, Unarmed 
Guard Services MA/MFN/LP
NT/SMBD CBTS/I Registration requirement. Prohibition to work as a guard for foreigners. 
Limitations to provide escorting cash-in-transit operation of up to S$250,000. 
 
Higher Education 
Services in relation to the 
training of doctors MA/NT CBTS/I Only local tertiary institutions  are allowed to operate undergraduate or 
graduate programmes for the training of doctors. 
Contact Lens 
Practitioners LP CBTS Residency requirement. 
Traditional Chinese 
Medicine Practitioners MFN/LP CBTS Registration/residency requirement. 
Deliveries and related 
services, nursing 
services, physiotherapeutic and 
paramedical services LP CBTS Registration/residency requirement. 
Medical Services LP CBTS Registration/residency requirement. 
Pharmacy Services LP CBTS Regi stration/residency requirement. 
Import, Export, and 
Trading Services LP CBTS Local presence requirement. 
Telecommunications MA/NT/LP CBTS A facilities-based operato r and a services-based operator must be a company 
incorporated under the Singapore Companies Act. 
Domain name allocation policies in Internet country code top level 
domains (ccTLDs) 
corresponding to Singapore territories (.sg) MA/NT/LP CBTS A registrar must be a compan y incorporated under the Singapore Companies 
Act. 
Power supply MA/NT CBTS Power producers, whether or not foreign-owned and whether located within or 
outside Singapore, shall only sell power through the Singapore electricity 
wholesale market and shall not be allowed to sell directly to consumers. The 
amount of power supplied cumulatively by  power producers located outside of 
Singapore to Singapore’s wholesale power market shall not exceed 600 MW. 
Power supply MA/NT CBTS/I Only SP Services Ltd, and/or its successor body, is allowed to supply 
electricity to all household consumer s of electricity, non-household consumers 
of electricity whose average monthly consumption is below 10,000kWh, and consumers whose electricity is supplied at single-phase low voltage. 
Power Transmission and Distribution MA/NT CBTS/I Only SP PowerAssets Ltd, and/or its successor body, shall be the transmission 
licensee as defined in the Electricity Ac t, and the sole owner and operator of 
the electricity transmission and di stribution network in Singapore. 
Table IV.4 (Cont'd)  WT/REG269/1/Rev.1 
Page 42  
 
  Sector Obligations Mode Description 
Beverage serving 
services for consumption 
on the premises,  
Meal serving services in eating facilities run by 
the government, Retail 
sales of foods NT/LP CBTS/I Citizenship /residency requirement. License requirement. 
Distribution and Sale of 
Hazardous Substances MA/NT CBTS Local presence requirement.  
Trade Services, 
Distribution Services, Retailing Services, 
Wholesale Trade 
Services MA/NT CBTS/I Local presence requirement. 
Air Transport Services – 
Ground Handling Services (including but 
not limited to cargo 
handling services) MA/NT CBTS/I Only Singapore Airport Terminal  Services (SATS), Changi International 
Airport Services (CIAS) and Swiss port Singapore Pte Ltd, and/or their 
respective successor bodies, are allowed to provide ground handling services, 
including but not limited to cargo handling services at airports. 
Air Transport Services – 
Passengers Transportation by Air, 
Freight Transportation by 
Air NT I Compliance with the "effective control" and/or "substantial ownership" 
requirements of Singapore’s bilateral and multilateral air services agreements. 
Air Transport MA/MFN/LP 
NT/SMBD CBTS/I Only the Civil Aviation Authority of Singapore, and/or its successor body, is 
allowed to provide rescues and fire-fightin g services at all civil and military 
airports in Singapore. 
Maritime Transport, Cargo Handling, 
Pilotage, 
Supply of Desalinated Water to Ships berthed at Singapore ports or in 
Singapore territorial 
waters MA/NT CBTS/I Only PSA Corporation Ltd and Ju rong Port Pte Ltd, and/or their respective 
successor bodies, are allowed to provide cargo handling services. Only PSA 
Marine (Pte) Ltd., and/or its successor body, is allowed to provide pilotage 
services and supply desalinated water to ships berthed at Singapore ports or in 
Singapore territorial waters. 
Maritime Transport NT/LP CBTS/I Only local service suppliers, that are eith er Singapore citizens or legal persons 
which are more than 50% owned by Singa pore citizens, are allowed to operate 
and manage cruise and ferry terminals. 
Maritime Transport –Other Supporting 
Services. NT CBTS/I Citizenship/residen cy/registration requirement. 
Maritime Transport  NT CBTS Citizensh ip/residency/registration requirement 
Production, retail, 
transportation and 
distribution of 
manufactured gas and natural gas (piped gas) MA/NT CBTS/I Only City Gas Ltd, and/or its successor body, is allowed to produce and retail 
manufactured gas. Only PowerGas Ltd, and/or its successor body, is allowed 
to transport and distribute manufactured and natural gas (piped gas). 
PowerGas Ltd, and/or its successor body, is the sole owner and operator of the gas pipeline in Singapore. 
Transportation Services Via Pipeline LP CBTS Local presence requirement. 
Manufacturing and 
incidental services NT/MFN/PR I Registration requirement. Restric tions to the manufacture of a number of 
products which are listed in the Annex. 
 
Note: 
CBTS: Cross-border trade in services;  I:  Investment;  LP:  Local presence requirements; MA:  Market access restriction;  
 MFN:  Restriction to MFN treatment;  NT:  National treatment restriction;  PR:  Performance requirements;  
 SMBD:  Restrictions affecting senior  management and board of directors. 
 
Source : Annex 11C of the Agreement. 
128. Table IV.5 shows the future reservations that Si ngapore may take with respect to sectors, sub-
sectors or activities listed in Annex 11E.  As in its  GATS Schedule, Singapore maintains the right to 
regulate the supply of services by the presence of natu ral persons or their temporary entry, with the 
exception of categories covered by Chapter 12 and related annex (business visitors, investors, and 
intra-company transferees).  Several restrictions ha ve been scheduled for all sectors, in particular 
when the supply of a service is connected to govern mental authorities.  Singapore also reserves the 
right to accord differential treatment to countries unde r any international agreement in force or signed  WT/REG269/1/Rev.1 
 Page 43 
 
 
  prior to entry into force of the Agreement, and to accord differential treatment to other countries 
pursuant to international agreements in force or si gned after the entry into force of the Agreement for 
the following sectors:  air services;  maritime and port matters;  land transport matters;  postal and 
courier services matters;  telecommunications services matters;  and e-commerce matters.  The Parties agreed to review the reservations on courier services and e-commerce matters two years after the 
entry into force of the Agreement.  
Table IV.5 
Reservations for future measures li sted by Singapore in Annex 11E 
Sector Obligations Mode Description 
All sectors MA/NT/ 
MFN/LP CBTS Right to adopt or maintain any measure with respect to the supply of a service by 
the presence of natural persons, or other movement of natural persons, including immigration, entry or temporary entry,  except for categories covered by Annex 
12A and subject to the provisions  of Chapter 12 and Annex 12A. 
All sectors MA/NT/LP 
PR/SMBD 
MFN CBTS/I Right to adopt or maintain any measure in relation to the divestment of the 
administrator and operator of airports. 
All sectors MA/NT/LP 
PR/SMBD MFN CBTS/I Right to maintain or adopt any measure affecting the supply of health services by 
government-owned or controlled healthcar e institutions, such as hospitals and 
polyclinics, including investments in these institutions. 
All sectors MA/NT/LP 
PR/SMBD MFN CBTS/I Right to maintain or adopt any measur e affecting the supply of social services, 
social security, public training, public  law enforcement, ambulance services, 
correctional services and fire fighting services. 
All sectors NT/MA/LP 
MFN/PR 
SMBD CBTS/I Right to maintain or adopt any measure affecting, including but not limited to, the 
alienation and divestment of real  estate owned by the State. 
All sectors MA/NT/LP 
PR/SMBD 
MFN CBTS/I Right to maintain or adopt any measur e affecting: the full or partial devolvement 
to the private sector of services provided in the exercise of governmental 
authority; the divestment of its equity interests in, and/or the assets of, an 
enterprise that is wholly owned by th e Singapore government; and the divestment 
of its equity interests in, and/or the assets  of, an enterprise that is partially owned 
by the Singapore government. 
Urban and Land Planning and Development MA/NT/LP 
PR/SMBD CBTS/I Right to maintain or adopt any measur e affecting the type of activities which may 
be conducted on land or the usage of land,  including but not limited to, its land 
zoning, land use and ur ban planning policies. 
Administration and 
Operation of National 
Electronic System MA/NT/LP 
PR/SMBD 
MFN CBTS/I Right to maintain or adopt any meas ure affecting the administration and operation 
of any national electronic system which c ontains proprietary information of the 
government or information gathered pursu ant to regulatory functions and powers. 
Such measures apply to existing nati onal electronic systems and any other 
national electronic systems that may be established in the future. 
Arms and explosives MA/NT/LP 
PR/SMBD 
MFN CBTS/I Right to maintain or adopt any measur e affecting the arms and explosives sector. 
The manufacture, use, sale, storage, transport, importation, exportation and 
possession of arms and explosives are regulated for protection of vital security 
interests. 
Broadcasting services (referring to the scheduling of a series of literary and artistic 
works by a content 
provider for aural and/or visual  
reception, and for 
which by a content provider has no 
choice over the 
scheduling of the series) MA/NT/LP 
PR/SMBD MFN CBTS/I Right to adopt or maintain any m easures affecting broadcasting services 
receivable by Singapore’s do mestic audience, to international broadcasting 
services originating from Singapore, and to the allocation of spectrum in relation 
to broadcasting services, with the excep tion of the sole activity of transmitting 
licensed broadcasting services to a final consumer. 
Credit Reporting  MA/NT/LP 
PR/SMBD 
MFN CBTS/I Right to adopt or maintain any measure affecting the supply of credit reporting 
services. 
Patent Agent MA/NT/LP CBTS/I Right to adopt or mainta in any measure affecting the recognition of educational 
and professional qualifications for purpos es such as admission, registration and 
qualification for patent agents. 
Table IV.5 (Cont'd)  WT/REG269/1/Rev.1 
Page 44  
 
  Sector Obligations Mode Description 
Real Estate  MA/NT/LP 
PR/SMBD 
MFN CBTS/I Right to maintain or adopt any measur e affecting real estate services, including 
but not limited to, measures affecting the ownership, sale, purchase, development 
and management of real estate, with th e exception of real estate consultancy 
services, real estate agency services, real  estate auction services and real estate 
valuation services. 
Armed Escort Services and 
Armoured Car 
Services, Armed Guard Services MA/NT/LP 
PR/SMBD 
 CBTS/I Right to maintain or adopt any meas ure affecting the provision of armed escort, 
armoured car and armed guard services. 
Betting and Gambling  MA/NT/LP 
PR/SMBD 
MFN CBTS/I Right to maintain or adopt any m easure affecting the supply of betting and 
gambling services. 
Legal Services MA/NT/LP 
PR/SMBD 
MFN CBTS/I Right to maintain or adopt any measur e affecting the supply of legal services in 
Singapore. 
Community, Personal 
and Social Services, Services furnished by cooperative societies, 
Services furnished by 
trade unions MA/NT/LP 
PR/SMBD MFN CBTS/I Right to maintain or adopt any measure affecting services provided by 
cooperative societies and trade unions. 
Defence NT/SMBD I Right to adopt or maintain any me asure in relation to the retention of a controlling 
interest by the Singapore Government in Singapore Technologies Engineering (the Company), and/or its successor body, including but not limited to controls 
over the appointment and termination of members of the Board of Directors, 
divestment of equity and dissolution of the Company for the purpose of safeguarding the security interest of Singapore. 
Distribution, Publishing and 
Printing of 
Newspapers MA/NT/LP 
PR/SMBD 
MFN CBTS/I Right to maintain or adopt any meas ure affecting the publishing or printing of 
newspapers, including but not limited to, shareholding limits and management 
control. The distribution of any newspaper, whether published outside of 
Singapore or in Singapore, shall be subject to the laws of Singapore. 
Trade Services, Distribution Services, Commission Agents’ 
Services, 
Wholesale Trade Services, 
Retailing Services, 
Franchising MA/NT/LP CBTS/I Right to maintain or adopt a ny measure affecting the supply of any products 
subject to import prohibition or non-automatic import licensing. 
Educational Services Primary Education and 
Secondary Education 
Services MA/NT/LP 
PR/SMBD MFN CBTS/I Right to maintain or adopt any measur e affecting the supply of primary, general 
secondary and higher secondary (only applies to junior colleges and pre-
university centres under the Singapore edu cational system) education services for 
Singapore citizens, including sport education services. 
Medical Services, Services Provided by 
Nurses and Midwives Pharmacy Services MA CBTS Right to adopt or to maintain any limits on the number of doctors and pharmacists 
who can practice in Singapore. 
Services provided by 
health-related 
professionals NT/LP/MFN CBTS/I Right to adopt or maintain any measure in relation to the recognition of 
educational and professional qualifica tions for the purposes of admission, 
registration and qualification of health -related professionals, including but not 
limited to contact lens practitioners, dentists, doctors, pharmacists, nurses, 
midwives and traditional Chinese medicine practitioners. 
Waste Water Management, 
including but not 
limited to collection, disposal and 
treatment of solid 
waste and waste water MA/NT/LP 
PR/SMBD 
MFN CBTS/I Right to maintain or adopt any m easure affecting waste water management, 
including but not limited to the collection, treatment and disposal of waste water. 
New Environmental 
Services MA/NT/LP 
PR/SMBD 
MFN CBTS/I Right to maintain or adopt any measure affecting the supply of any new 
environmental services. 
Telecommunications MA/NT CBTS/I Right to restrict forei gn ownership in facilities-based telecommunication services 
up to 49% foreign ownership. 
Courier Services MA/NT/LP 
PR/SMBD CBTS/I Right to maintain or adopt any measur es affecting the supply of postal and courier 
services. 
Table IV.5 (Cont'd)   WT/REG269/1/Rev.1 
 Page 45 
 
 
  Sector Obligations Mode Description 
Supply of Potable 
Water for Human 
Consumption MA/NT/LP 
PR/SMBD 
MFN CBTS/I Right to maintain or adopt any meas ure affecting the supply of potable water. 
Air Transport  MA/NT 
MFN/LP 
PR/SMBD CBTS/I Right to maintain or adopt any measur e affecting the investment in, and/or the 
supply of, computer reservation systems; ai r navigation services; air traffic control 
services; licensing of air traffic controllers; airspace management; air traffic flow information; air traffic and flight info rmation; navigation services; aeronautical 
information; aerodrome rescue and fi re fighting services; ground operations; 
terminal operations, flight  information management; apron control services, 
security of aerodromes and commercial ac tivities; and the real estate management 
of airports and heliports. 
Air Transport  MA/NT/LP 
PR/SMBD 
MFN CBTS/I Right to maintain or adopt any measure affecting, including but not limited to, the 
building, ownership, operation and manage ment of airports and heliports in 
Singapore. 
Land Transport  MA/NT/LP 
PR/SMBD MFN CBTS/I Right to maintain or adopt any measure affecting the supply of public transport 
services, intended as services used by, a nd accessible to members of the public for 
the purposes of transporting themselves within Singapore. 
Land Transport  MA/NT/LP 
PR/SMBD MFN CBTS/I Right to maintain or adopt any meas ure affecting the supply of land transport 
services, such as rail and road freight transportation and supporting services for 
rail and road transport services. 
Services Auxiliary to All Modes of 
Transport MA/NT/LP 
PR/SMBD 
MFN CBTS/I Right to adopt or maintain any measur e that accords treatment to persons of the 
other Party equivalent to an y measure adopted or maintained by the other Party in 
relation to the provision of storage and warehousing, freight forwarding 
(excluding freight forwarding by air), inla nd trucking, container station, and depot 
services by persons of Singapore. 
Maritime Transport  MA/NT/LP 
PR/SMBD CBTS/I Right to maintain or adopt any meas ure affecting the supply of towing and tug 
assistance; provisioning, fuelling and wa tering; garbage collection and ballast 
waste disposal; port captain’s services ; navigation aids; emergency repair 
facilities; anchorage; and other shore-base d operational services essential to ship 
operations, including communications, wate r and electrical supplies. Prohibition 
to apply measures which deny international maritime transport operators 
reasonable and non-discriminatory acce ss to the mentioned port services. 
Internal Waterways 
Transport  MA/NT/LP 
PR/SMBD CBTS/I Right to maintain or adopt any measur e affecting the supply of internal waterways 
transportation services. 
Wholesale trade services and retail trade services of 
alcoholic beverages 
and tobacco MA/NT/LP 
PR/SMBD CBTS/I Right to adopt or maintain any meas ure affecting the supply of wholesale and 
retail trade services of tobacco products and alcoho lic beverages. 
All sectors MFN CBTS/I Right to adopt or maintain any measure that accords differential treatment to 
countries under any bilateral or multilatera l international agreement in force or 
signed prior to the date of entry into force of this Agreement. Right to adopt or 
maintain any measure that accords differe ntial treatment to countries under any 
international agreement in force or signed af ter the date of entry into force of this 
Agreement involving: (a) air services; (b) maritime and port matters; (c) land transport matters; (d) postal and courier services matters; (e) telecommunication 
services matters; (f) e-commerce matte rs.  The Parties shall review this 
reservation with regard to courier se rvices and ecommerce matters with the 
objective to achieve greater liberalization and better treatment between the Parties 
two years after the entry into  force of this Agreement. 
All sectors MA CBTS/I Right to adopt or maintain any measure that is not inconsistent with Singapore’s 
obligations under GATS Article XVI, except for the sectors and sub-sectors 
subject to the limitation and conditio ns which are listed in the Annex. 
Note: 
CBTS: Cross-border trade in services;  I:  Investment;  LP:  Local presence requirements; MA:  Market access restriction;  
 MFN:  Restriction to MFN treatment;  NT:  National treatment restriction;  PR:  Performance requirements;   SMBD:  Restrictions affecting senior  management and board of directors. 
 
Source : Annex 11E of the Agreement. 
E. REGULATORY PROVISIONS ON TRADE IN SERVICES AND INVESTMENT  
1. Domestic regulation 
129. Where authorization for the supply of a service is required, the Party’s competent authorities 
shall, within a reasonable period of time after the submission of an application considered complete 
under domestic laws and regulations, inform the applicant of the decision concerning the application. WT/REG269/1/Rev.1 
Page 46  
 
  At the request of the applicant, the Party's compet ent authorities shall provide, without undue delay, 
information concerning the status of the application (Article 11.8(1)).
45   
130. Measures related to qualification  requirements and procedures, technical standards and 
licensing requirements must be:  (a) based on objective and transparent criteria;  (b) not more burdensome than necessary to ensure the quality of  the service;  and (c) in the case of licensing 
procedures, not in themselves a restriction on th e supply of the service (Article 11.8(2)).   
131. If the results of negotiations on GATS Article VI :4 enter into effect, Article 11.8 shall be 
amended, after consultati ons between the Parties, to incorpor ate this result (Article 11.8(3)). 
2. Recognition 
132. Article 11.9 on recognition mirrors Article VII of GA TS, in particular paragr aphs 1, 2, and 3.  
Where a Party recognizes, autonomously or by an  agreement or arrangement,  the education or 
experience obtained, requirements met, or licences or certifications granted in the territory of a non-Party, the MFN obligation under Article 11.4 does not require that Party to accord such recognition in 
the territory of the other Party.  
133. Annex 11A applies to the licensing or certifi cation of professional service suppliers.  The 
Parties agree to encourage the relevant bodies in their respective territories to develop mutually 
acceptable standards and criteria for licensing and certification of professional service suppliers, as well as for the mutual recognition of professional degrees – including devel oping procedures for the 
temporary licensing of professional services- and to provide recommendations on mutual recognition 
to the Commission.  The Commission shall review the recommendation within a reasonable period of 
time to determine its consistency with the Agreemen t.  Based on the review, the Parties' competent 
authorities are encouraged to implement the recommenda tion within a mutually agreed period of time.  
In addition, for mutually agreed individual prof essional services, each Party shall encourage its 
relevant bodies to develop procedures for the tem porary licensing of professional services suppliers of 
the other Parties.  The Commission shall review th e implementation of Annex 11A at least once every 
two years;  on this occasion, either Party may formulate matters related to the elaboration of 
international rules of pertinent internat ional organizations on professional services.
46 
3. Restrictions to safeguard the Balance of Payments 
134. The Agreement allows the Parties to adopt or maintain restrictions on cross-border trade in 
services, including payments or transfers (Article 11.11), as well as payments or transfers related to investments (Article 10.12), on the ground of serious  balance of payments and external financial 
difficulties, or threat thereof.   It  is recognized that particular pressures on the balance of payments of 
a Party in the process of economic development may necessitate the use of restrictions to ensure, inter 
alia, the maintenance of an adequate level of fi nancial reserves for the implementation of its 
economic development programmes.  Such restrictions  are subject to notification and consultations.  
They must:  (a) be consistent with the provisions of the IMF Agreement;  (b) avoid unnecessary damage to commercial, economic a nd financial interests of the Party;  (c) not exceed what is 
necessary to deal with the balan ce of payments difficulties;  (d) be temporary and be phased out 
progressively;  and (e) be applied on a national treatment basis and such that the other Party is treated 
no less favourably than any non-party. 
                                                     
 
45 This obligation shall not apply to authorization re quirements that are within the scope of paragraph 2 
of Article 11.7 (Non Conforming Measures).   
46 "Pertinent international organizations" refers to international organizations whose membership is 
open to the corresponding organizations in both Parties.  WT/REG269/1/Rev.1 
 Page 47 
 
 
  V. GENERAL PROVISIONS OF THE AGREEMENT 
1. Transparency 
135. Chapter 15 on transparency requires the Parti es to establish a contact point to facilitate 
communications between them (Article 15.2);  to ensure that their laws, regulations and 
administrative rulings of general application are promptly published or otherwise made available 
(Article 15.3)47;  to notify each other of any measure that may materially affect the implementation of 
the Agreement or substantially affect  any of the Party's interests (Ar ticle 15.4);  and to ensure that 
their administrative proceedings are applied in  a consistent, impartia l and reasonable manner 
(Article 15.5). 
136. Pursuant to Article 15.6, each Party shall also establish or maintain judicial or administrative 
tribunal or procedures for review and appeal of th e final administrative actions for matters covered by 
the Agreement.48  As specified in footnote 11-5 to Article  11.2(3)(c), transparency obligations of 
Chapter 15 also apply to subsidies or grants by a Party or public enterprises, including government-
supported loans, guarantees, and insurances. 
2. Current payments and capital movements 
137. Under Articles 10.11 and 11.10, each Party shall permit all transfers and payments relating to 
investments in its territory of an investor of th e other Party, as well as to the cross-border supply of 
services to be made freely and without delay into and out of its territory and in freely usable currency 
at the market rate of exchange prevailing at the time of transfer. A Party may, however, prevent or 
delay a transfer or payment through the equitable, non-discriminatory, and good faith application of its laws relating to:  (i) bankruptcy, insolvency, or for protecting the rights of creditors;  (ii) issuing, 
trading, or dealing in securities, futures, options, or derivatives;  (iii) financial reporting or record 
keeping of transfers when necessary to assist law enforcement or financial regulatory authorities;  (iv) 
criminal or penal offences;  (v) compliance with or ders or judgments in judicial or administrative 
proceedings;  or (vi) social security, public  retirement or compulsory savings schemes. 
138. Each Party shall permit returns in kind relating to an investment of investors of the other 
Party to be made as authorized or specified in  any written agreement between the Party and an 
investment by an investor of  the other Party, or an investor of the other Party (Article 10.11(3)).
49 
139. The provisions of Chapters 10 and 11 do not aff ect the Parties' rights and obligations under 
the IMF Agreement, on the condition that neither Party imposes restrictions on any capital transactions inconsistently with its  obligations under the Agreement, except in the case of restrictions 
to safeguard the balance of payment, under the term s and conditions of Articles 10.12 and 11.11, or at 
request of the IMF. 
                                                     
 
47 "Administrative ruling of general application" means an administrative ruling or interpretation that 
applies to all persons and situations that fall generally within its ambit and that establishes a norm of conduct but 
does not include:  (a) a determination or ruling made in an administrative proceeding that applies to a particular 
person, good, or service of another Party in a specific cas e; or (b) a ruling that adju dicates with respect to a 
particular act or practice (Article 15.1). 
48 For Singapore, the review of final administrative actions can take the form of a common law judicial 
review and the correction of final administrative actions may include a referral back to the body that took such action for corrective action. 
49 "Return" means an amount yielded by or derived from an investment, including profits, dividends, 
interest, capital gains, royalty, payments, payments in connection with intellectual property rights, and all other lawful income. However, returns that are invested shall be treated as inve stments and any alteration of the form 
in which assets are invested or reinvested sh all not affect their character as investments. WT/REG269/1/Rev.1 
Page 48  
 
  3. Exceptions 
140. Chapter 18 on exceptions incorporates, mutatis mutandis , into the Agreement Article XX of 
GATT 1994 and its interpretative notes with respect to provisions of Chapters 2 through 7, and 
Article XXIV of the GATS (including its footnotes)  with respect to Chapters 10, 11, 12 and 13 
(Article 18.1). 
141. Security exceptions are provided for in Article 18.2.  Article 18.3 exempts taxation measures 
from the Agreement's coverage.
50  In the event of any inconsistency between the Agreement and any 
tax convention concluded by the Parties, the c onvention shall prevail, while in case of a tax 
convention concluded between the Parties, the comp etent authorities under the convention are solely 
responsible for determining the existe nce of the inconsistency.     
142. According to Article 18.3(3), Articles 10.10 (Expropriation and Nationalisation) and 10.17 
(Investor-State Dispute Settlement) shall apply to ta xation measures to the extent that such measures 
constitute expropriation under the terms of Article 10.10.51  An investor that seeks to invoke Article 
10.10 with respect to a taxation measure must refer to the competent authorities, at the time that it 
gives notice under Article 10.17, the issue of whether the measure involves an expropriation.52  If the 
competent authorities do not agree to consider the issu e or, having agreed to consider it, fail to agree 
that the measure is not an expropriation within six months of the referral, the investor may submit its 
claim for arbitration under Article 10.17. 
143. The Parties are not required to provide confid ential information that would impede law 
enforcement, be otherwise contrary to public inte rest, or prejudice legitimat e commercial interests of 
particular enterprises, either public or private (Article 18.4).  
4. Accession and withdrawal 
144. Article 19.6 allows any country or group of coun tries to accede to the Agreement, subject to 
the terms and conditions agreed between the a cceding country or countries and the Parties and 
following the approval procedures under the applicab le legislation of each country.  A Party may 
withdraw from the Agreement through written notifica tion to the other Party;  its withdrawal shall 
take effect six months after the da te of notification (Article 19.7).  
145. If the Agreement is terminated, certain provisions  shall continue to apply with respect to 
investments made or acquired before the date of te rmination of the Agreement for a further period of 
                                                      
50 According to Article 18.5(2), taxation measures do not include customs duties or measures listed in 
Article 2.2.(5) sub-paragraphs (b) –antidumping and co untervailing duties- and (c) –fees and other charges. 
51 Footnote 18-2 specifies that, with reference to Article 10.10 (Expropriation and Nationalisation), in 
assessing whether a taxation measure constitutes expropria tion, the following considerations are relevant:  (a) 
the imposition of taxes does not generally constitute expropriation. The mere introduction of new taxation 
measures or the imposition of taxes in more than one jurisdiction in respect of an investment, does not in and itself constitute expropriation;  (b) taxation measures wh ich are consistent with inte rnationally recognised tax 
policies, principles and practices do not constitute expr opriation and in particular, taxation measures aimed at 
preventing the avoidance or evasion of taxes should not, generally, be considered to be expropriatory;  and (c) 
taxation measures which are applied on a non-discriminatory basis, as opposed to being targeted at investors of 
a particular nationality or specific individual taxpayers, are less likely to constitute expropriation. A taxation 
measure should not constitute expropriation if, when th e investment is made, it was already in force, and 
information about the measure was made public or otherwise made publicly available. 
52 Under Article 18.3(4), competent authorities m eans: for Singapore, Chief Tax Policy Officer, 
Ministry of Finance, or his successor or  such other public officer as may be  designated by Singapore;  and for 
Peru, the Ministry of Economy and Finance, or his successor or such other public officer as may be designated 
by Peru.  WT/REG269/1/Rev.1 
 Page 49 
 
 
  15 years after the date of termina tion and without prejudice to the app lication of the rules of general 
international law.  These are: (a) the provisions of Chapter 10, except Article 10.14 (Non-Conforming 
Measures) and the commitments in Annexes 11B, 11C , 11D, and 11E, with regard to investments and 
investors;  (b) the provisions in Chapter 17 (Dis pute Settlement);  and (c) other provisions in the 
Agreement as may be necessary.  
5. Institutional framework 
146. The Free Trade Commission was established under Ar ticle 16.1.  It shall convene for the first 
time within two years from the date of entry into force of the Agreement.  The Commission comprises 
the Minister of Foreign Trade and Tourism of Pe ru and the Minister for Trade and Industry of 
Singapore, or their designees.  The Commission shall, inter alia , supervise the implementation of the 
Agreement, oversees its future elaboration, and se ek to resolve disputes on its interpretation or 
application.  It may also consider and approve any amendment to the Agreement or modification to 
the commitments therein.  Pursuant to Article 16. 2, the Parties shall appoint a Free Trade Agreement 
Coordinator whose responsibility is to prepare for the Commission's meetings and follow up on its 
decisions. 
147. Article 16.3 requires each Party to designate an office for administrative assistance to the 
panel established pursuant to dispute settlement  provisions of Chapter 17 and to notify the 
Commission of its location.  
6. Dispute settlement 
148. Chapter 17 establishes a mechanism for dispute settlement which consists of three steps: 
consultations, intervention by th e Free Trade Commission, and establishment of a Panel.  This 
mechanism applies to any dispute arising between the Parties on:  (a) the interpretation or application 
of the Agreement;  (b) any measure inconsistent w ith the Agreement's obligations;  and (c) when a 
Party fails to carry out its obligations under the Ag reement (Article 17.2).  Article 17.3 allows the 
Parties to choose the forum for any dispute arisi ng under the Agreement, the WTO Agreement, or any 
other free trade agreement to which both Parties are members;  once the forum has been selected, it 
shall be used to the exclusion of the others, unless otherwise agreed.  
149. The procedure for the establishment and functioning of the Panel is set out under 
Articles 17.6 through 17.18.  The Panel shall comprise three members who are selected from a 
roster.53  In the absence of an agreement between th e Parties on the selection of panellists, the 
Agreement provides for the interven tion of the WTO Director General.  The Parties may suspend the 
work of the Panel at any time for a period not exceeding 12 months.  Where the suspension exceeds 
12 months, the authority for establishment of the Pa nel shall lapse, unless otherwise agreed.  The 
Parties may agree to terminate the proceeding before the Panel at any time trough a joint notification to the chairperson of the Panel.  The Commissi on shall review the operation and effectiveness of 
Articles 17.16 (Implementation of the report) and 17 .17 (Non-implementation-suspension of benefits) 
every five years, unless otherwise agree (Article17.19) .  The procedure for the settlement of a dispute 
is summarized in Table V.1 below. 
                                                     
 
53 The Parties informed the WTO Secretariat that, as at July 2010, the roster  had not been created.  WT/REG269/1/Rev.1 
Page 50  
 
  Table V.1 
Synopsis of the Agreement's dispute settlement provisions 
 
Source: Chapter 17 of the Agreement. 
 
   Consultations  (Art. 17.4) 
45/20 days (perishable goods) 
 
Free Trade Commission  (Art. 17.5) 
20/10 days (perishable goods) 
Request to establish a Panel   (Art. 17.6) 
Panel Selection ( Art. 17.9) 
Rules of Procedure (Art. 17.10) 
Max 30 days of composition 
Panel examination ( Art. 17.12) 
120/80 days (perishable goods) 
Panel initial report to be sent to the parties 
(Art. 17.12)  
Panel final report (Art. 17.13) 
Publication of the report  (Art. 17.13(2)) Implementation 
in agreement by the Parties (Art. 17.16) 
30 days  
Non-implementation 
Negotiations on compensation (Art. 17.17) 
 
Suspension of benefits (Art. 17.17(2)) 
after 30 days or 7 days from the panel determination 
Request for Panel to reconvene (Art. 17.17(3))  
60 days  
Panel determination (Art. 17.17(3)) 
- determine the level of benefits to be suspended; 
- recommend termination of the suspension. 
Compliance review (Art. 17.18 )  
within 30/15 days (perishable goods) no agreement on compensation by 30 days  
30 days from the notification 
15 days 45 days  WT/REG269/1/Rev.1 
 Page 51 
 
 
  7. Relationship with other agreements concluded by the Parties 
150. Under Article 1.2, the Parties reaffirm their existing rights and obligations with respect to 
each other under the WTO Agreement and other existing agreements to which they are a party.  The Agreement does not compromise any international lega l obligation between the Pa rties that accords to 
goods or services, or their suppliers, more favour able treatment than that accorded under the 
Agreement.  Where a provision of the WTO Agre ement that has been incorporated into the 
Agreement is amended, the Parties shall modify the same provision of the Agreement, unless otherwise agreed (Article 19.3). 
151. In case of inconsistence between the Agreement and any other agreement to which the Parties 
are a member, the Parties shall consult and find a mu tually satisfactory solution, in conformity with 
international law (Article 19.4).  
152. Table V.2 shows the Parties' participation in other RTAs, notified and non-notified, in force 
as of July 2010.  Most of the agreements to wh ich Peru is a party have been concluded in the 
framework of the Latin American Integration Associ ation (LAIA).  Only recently, Peru has decided to 
strengthen its trade relationship w ith Asian countries, such as Singapore and China.  Singapore has 
actively participated in RTAs with 13 agreements in force with trading partners in different regions of 
the world; it also participates, as a member of ASE AN, in five agreements with Japan, China, India, 
Korea, New Zealand and Australia. WT/REG269/1/Rev.1 
Page 52  
 
  Table V.2 
Peru and Singapore:  Participation in other RTAs (n otified and non-notified in force), as of July 2010  
GATT/WTO Notification Partner/ 
AGREEMENT  Date of entry 
into force Type of 
Agreement Year WTO Provision 
PERU 
China 01.03.10 Goods & Services 2010 GATT Art. XXIV & GATS Art. V 
Canada 01.08.09 Goods & Services 2009 GATT Art. XXIV & GATS Art. V 
United States  01.02.09 Goods & Services 2009 GATT Art. XXIV & GATS Art. V 
GSTP 19.04.89 Goods 1989 Enabling Clause 
Andean Community 25.05.88 Goods 1990 Enabling Clause 
LAIA 18.03.81 Goods 1982 Enabling Clause 
PTN 11.02.73 Goods 1971 Enabling Clause 
Chileª 01.03.09 Goods Not notified  
MERCOSURa 01.01.06 Goods Not notified  
Cubaª 09.03.01 Goods Not notified  
Mexicoª 26.05.87 Goods Not notified  
SINGAPORE (INDIVIDUALLY ) 
China 01.01.09 Goods & Services 2009 GATT Art. XXIV & GATS Art. V 
Panama 24.07.06 Goods & Services 2007 GATT Art. XXIV & GATS Art. V 
Trans-Pacific Strategic 
Economic Partnership 28.05.06 Goods & Services 
2007 GATT Art. XXIV & GATS Art. V 
Korea 02.03.06 Goods & Services 2006 GATT Art. XXIV & GATS Art. V 
Jordan 22.08.05 Goods & Services 2006 GATT Art. XXIV & GATS Art. V 
India 01.08.05 Goods & Services 2007 GATT Art. XXIV & GATS Art. V 
United States 01.01.04 Goods & Services 2003 GATT Art. XXIV & GATS Art. V 
Australia 28.07.03 Goods & Services 2003 GATT Art. XXIV & GATS Art. V 
EFTA 01.01.03 Goods & Services 2003 GATT Art. XXIV & GATS Art. V 
Japan 30.11.02 Goods & Services 2002 GATT Art. XXIV & GATS Art. V 
New Zealand 01.01.01 Goods & Services 2001 GATT Art. XXIV & GATS Art. V 
AFTA 28.01.92 Goods 1992 Enabling Clause 
GSTP 19.04.89 Goods 1989 Enabling Clause 
SINGAPORE (AS A MEMBER OF ASEAN)  
Korea 
 01.01.10 
01.05.09  Goods  
Services 2010 Enabling Clauseb 
GATS Art. V 
Australia-New Zealand 01.01.10c  Goods & Services 2010 GATT Art. XXIV & GATS Art. V 
Japan 01.12.08 Goods 2009 GATT Art. XXIV 
China  01.07.03 
01.07.07 Goods 
Services 2004 
2008 Enabling Clause 
GATS Art. V 
India 01.01.10 Goods Not notified  
a Under LAIA framework 
b Korea notified the Agreement under GATT Ar t. XXIV (WT/REG287/N/1 and S/C/N/559). 
c The Agreement entered into force on 01.01.2010 for Australia , Brunei Darussalam, Malaysia, Myanmar, New Zealand, the 
 Philippines, Singapore, and Vietna m;  and on 12.03.2010 for Thailand. 
  
Source: WTO Secretariat.  
 
LAIA:  Latin American Integration Association 
GSTP:   Global System of Trade Preferences PTN:  PROTOCOL RELATING TO TRADE NEGOTIATIONS AMONG DEVELOPING COUNTRIES 
AFTA:  ASEAN Free Trade Area  WT/REG269/1/Rev.1 
 Page 53 
 
 
  8. Government procurement 
153. Chapter 9 and related annexes contain provisions on government procurement.54  Under 
Article 9.2, the Parties agreed to open their resp ective procurement markets and reduce the cost of 
doing business for both government and industry,  through: equal and transparent competition 
opportunities to their suppliers;  non-applicatio n of preferential schemes, or other forms of 
discrimination based on the origin of goods and servi ces against their suppliers;  and the promotion of 
the use of electronic procurement ("e-procurement").  
154. Chapter 9 covers:  (a) any law, regulation, pr ocedure, or practice regarding any procurement 
made by entities listed in each  Party's Schedule to Annex 9A55;  and (b) procurement of goods, 
services, or any combination of both, by any contractual means - including build-operate-transfer and 
public works concession-56 with a value not less than the th resholds specified in Annex 9A 
(Article 9.3).  The followings are excluded from th e Chapter's coverage:  non-contractual agreements 
or any form of government assistance - includi ng cooperative agreements, grants, loans, equity 
infusions, guarantees, fiscal incentives- and governme nt provision of goods and services to persons or 
government authorities;  purchases funded by interna tional grants, loans or other assistance, whose 
provision is subject to conditions inconsistent with the Chapter's provisions;  acquisition of fiscal 
agency or depository services, liquidation and management services for regulated financial institutions, and services related to the sale, redemption and distribution of government debt
57;  and 
hiring of government employees and related employment measures (Article 9.3(5)). 
155. The provisions of Chapter 9 do not prevent a Party from developing new procurement 
policies, procedures, or contractual means on conditi on that they are compatible with the Agreement 
and do not affect rights and obligations under Chapte rs 2 (Trade in Goods), 10 (Investment), and 11 
(Cross-border Trade in Services) (Article 9.3(7) and (8)).  Each Party may make purely formal 
rectifications to its coverage under the Chapter, or minor amendments to its Schedule to Annex 9A, 
by notifying in writing the other Party and by providing compensatory adjustments.  The notified Party has 30 days to object.  Compensatory ad justments are not needed when the proposed 
modification covers a procuring entity that is lega lly separate and distinct from the government of a 
Party;  in this case, the proposed removal or m odification shall become effective 30 days from its 
notification (Article 9.16).  Articles 9.4 (National treatment and non-discrimination) and 9.6 (Rules of 
origin) reflect the provisions of Articles III and IV of the WTO GPA.  
156. The Chapter applies for Singapore to the sa me 23 central entities listed in its WTO GPA 
Appendix 1, and to 22 of the 24 other entities listed therein (no sub-central entities have been 
recorded by Singapore).
58  Provisions of Chapter 9 apply to the purchases made by the Singapore 
Ministry of Defence as listed in the Schedule, othe rs being excluded, and subject to the Government 
                                                      
54 Singapore has been a member of the WTO Go vernment Procurement Agreement (GPA) since 
20 October 1997, while Peru is neither a member nor an observer. 
55 Article 9.3(3) specifies that where entities covere d under the Agreement require entities not listed in 
Annex 9A to award contracts in accordance with partic ular requirement, the obligations on national treatment 
and non discrimination set out in Article 9.4 apply, mutatis mutandis , to such requirements. 
56 Article 9.1(1) defines "build-operate-transfer contract and public work concession contract" as any 
contractual arrangement whose primary purpose is to pr ovide for the construction or rehabilitation of physical 
infrastructure, plant, buildings, facilities, or other gove rnment owned works and under which, as consideration 
for a supplier's execution of a contr actual arrangement, a procuring entity grants the supplier, for a specified 
period of time, temporary ownership, or a right to control and operate, and demand payment for the use of, such 
works for the duration of the contract. 
57 Footnote 9-1 in the Agreement specifies that the Chapter does not apply to procurement of banking, 
financial, or specialized services related to the incurring of public indebtedness or public debt management. 
58 The exclusions are the Nanyang Technological Univ ersity and the National University of Singapore. WT/REG269/1/Rev.1 
Page 54  
 
  of Singapore's determinations under Article 9.20 (Exceptions).
59  Peru lists 61 entities at the central 
level, 25 at the sub-central level, and 23 other en tities.  Procurement of certain goods and services by 
these entities is excluded from the Chapter's coverage (see Table V.3 below).   
Table V.3 
Goods and services (by entity) excluded from Chapter 9 
Notes to Schedule of Peru  
1) Ministry of Defence and Ministry of Interior:  clothing and apparel (HS 6205) and foot wear (HS 6401.10.00) purchased by the 
Army, Navy, Air Force or National Policy.  
2) Ministry of Economy and Finance: technical, legal, financial, economi c, or similar consulting services  made by the Agency for 
the promotion of Private Investment (PRO INVERSION) which are necessary to promot e private investment through the granting 
of concessions or other means, such as  capital increase, joint ventures, servi ce, leasing and management contracts. 
3) Ministry of Justice : procurement by the Land Title  Formalization Commission. 
4) Health Insurance: sheets (HS 6301) and blankets (HS 6302). 
5) Peru's Oil Company: crude petroleum; gasoline; propane;  diesel oil; butane; low sulphur medium distillation or gasoil; natural 
gas; bio diesel;  saturated acyclic hy drocarbons; catalysers; ethanol; additives. 
Notes to Schedule of Singapore  
1) Ministry of Foreign Affairs: construction contracts for chanceries abroad and headquarters building. 
2) Ministry of Home Affairs: contracts made by the Internal Security Departme nt, Criminal Investigati on Department, Security 
Branch, and Central Narcotic Bureau, as well as procurement that have security considerations made by the Ministry. 
3) Covered Entities: any procurement made by a covered en tity on behalf of a non-covered entity.  
 
 
Source: Annex 9A of the Agreement.  
157. With respect to the procurement of services, the following are excluded under Peru's 
Schedule:  accounting and auditing services (CPC  8221);  architectural services (CPC 8321);  
engineering and design services (CPC 8334);  engineering services during construction and 
installation phase (CPC 8335);  and arbitration an d conciliating services (CPC 82191).  Chapter 9 also 
does not apply, for Peru, to the procurement of:  programmes on behalf of small and micro-sized 
companies;  goods for food assistance programmes;  a good or service purchased by one Peruvian entity from another Peruvian entity;  acquisition of weaving and clothing made with alpaca and llama 
fibres;  and procurement by embassies, consulates, and other missions of Peru's foreign service, exclusively for their operation and management.
60 
158. In its Schedule to Annex 9A, Singapore has liste d the same services and construction services 
as in its Appendix to the GPA.  These are subject to limitations and conditions as specified in the 
Government of Singapore's offe r in the GATS negotiations.   
159. Procurement thresholds under the Agreement are the same as under the GPA:  SDR 130,000 
for goods and services by central and sub-central  entities;  SDR 400,000 for goods and services by 
other entities;  and SDR 5,000,000 for construction servi ces.  The thresholds shall be adjusted every 
two years with each adjustment taking effect on Ja nuary 1, beginning on 1 January 2008, and shall be 
converted into the Parties' respective national cu rrencies based on the conversion rates published by 
the IMF in the monthly International Financial Statistics.61  Each Party shall notify the other, without 
delay, of the result of the calculation.  Thresholds  expressed in national currencies shall be fixed for a 
two-year period which will be tied to Singapore's notification to the WTO GPA.  
160. The criteria for the evaluation of procurement ar e set out in Article 9.5, while Article 9.7 
prohibits offsets in the qualification and selection of suppliers, goods, or services, or in the evaluation 
                                                      
59 The category covered under Singapore's Schedule to Annex 9A reflect those in its Appendix to the 
GPA. 
60 All services and construction services covered by Chapter 9 are subject to the existing and future 
non-conforming measures listed in each Party’ s Schedule in Annexes 11B, 11C, 11D, 11E. 
61 The conversion rates will be the average of the da ily values of the respective national currency in 
terms of the SDR over the two-year period preceding 1 October or 1 November of the year prior to the 
thresholds in national currency becoming effective which will be from 1 January.  WT/REG269/1/Rev.1 
 Page 55 
 
 
  of tenders and awards of contracts.  The tendering procedure is described in Articles 9.8 through 9.15.  
In general, procurement shall be carried out through open tendering;  limited tendering can be used in 
certain circumstances, provided that it is not used  to avoid competition or protect domestic suppliers 
(Article 9.13).  Information on government proc urement shall be published through the official 
designated electronic means as listed in Annex 9B.62  Each Party must be willing to provide 
explanations on the information upon request of the ot her Party (Article 9.8).  Each procuring entity 
shall publish in advance a notice of intended proc urement;  it shall also endeavour to provide 
information on an indicative procurement plan as early  as possible in the fiscal year (Article 9.9).  
Time-limits for tendering processes shall be not less than 21 days between the date of publication of notice of intended procurement and the deadline for the submission of tenders although they can in 
specific circumstances be reduced to 10 days (Article 9.10).
63  The tender must include the technical 
criteria that the procuring entity will consider when evaluating the offer;  technical specifications of 
the goods or services to be procured shall be expressed in terms of performance requirements and 
based on international standards, where app licable, or on recognized national regulations 
(Article 9.11).   
161. When qualifying suppliers, the procuring entity will not discriminate in favour of domestic 
suppliers and ensure that any cond ition for participation is no less favour able to suppliers of the other 
Party;  a procuring entity may exclude from a proc urement a supplier for reasons of bankruptcy or 
false declaration, provided that such exclusion is  consistent with the national treatment obligation 
(Article 9.12).  The evaluation of tenders must be fair and non-discriminatory and eliminate any 
potential conflict of interest (Article 9.14).  Supplie rs participating in a tendering shall be promptly 
informed of the award decision;  the procuring entity shall, upon the request of an unsuccessful 
supplier, provide reasons for the rejection (Article 9.15). 
162. Transparency provisions are contained in Article 9.17.  The Parties are encouraged, under 
Article 9.18, to promote the use of electronic means in the procurement sector ("e-procurement").  To 
this end, they shall establish a single entry po int for information on procurement opportunities for 
their suppliers. 
163. Complaints relating to procurement are to be  resolved through consultations between the 
supplier of a Party and the procuring entity of the ot her Party;  challenges can be heard by a court of 
law or an impartial and independent review body.  A Party’s total liability or compensation for loss or 
damages suffered shall be limited to the costs for tender preparation reasonably incurred by the 
supplier for the procurement (Article 9.19). 
164. Exceptions under Article 9.20 mirror those contai ned in Article XXIII of the WTO GPA.  The 
Parties shall not disclose any information that w ould prejudice the legitimate commercial interests of 
a particular person or the fair competition between suppliers, or that would impede law enforcement 
or be contrary to the public interest (Article 9.21). 
                                                      
 62 These are the following websites: for Peru, "Legislation and jurisprudence" 
(http://www.osce.gob.pe ); "Goods and services procurement opportunities" ( http://www.seace.gob.pe ); and 
"Public work concession" ( http://www.proinversion.gob.pe );  for Singapore, the Singapore Government 
(http://www.gebiz.gov.sg ). 
63 More precisely: (a) where the procuring entity has published a separate notice of intended 
procurement at least 21 days and not more than 12 months in advance;  (b) in the case of the second or 
subsequent publication of notices for procurement of a recurring nature;  (c) in case of urgency duly 
substantiated by the procuring entity th at renders such time limit impracticable;  or (d) where the procuring 
entity has published a notice of intended procurement by electronic means in an officially designated electronic 
mean as listed in Annex 9B. WT/REG269/1/Rev.1 
Page 56  
 
  9. Intellectual property rights 
165. The Agreement does not contain a Chapter on in tellectual property rights.  However, under 
Article 2.17 of the Trade in Goods Chapter, the Pa rties affirm that their obligations in the TRIPS 
Agreement will be applicable to the geographical indications "Pisco", "Maiz Blanco Gigante Cusco" 
and "Chulucanas".  These terms, recognized as geographi cal indications for, respectively, spirits and 
products in Peru within the meaning of paragraph 1 of Article 22 of the TRIPS Agreement, will be 
protected as geographical indications in Singapore, subj ect to its domestic law and in a manner that is 
consistent with the TRIPS Agreement.  The Parti es may by mutual consent accord similar recognition 
and protection to other geographical  indications of the Parties. 
166. Under Article 2.18 of the Trade in Goods Chap ter, the Parties endeavour to consider the 
recognition of distinctive products after one year  from the entry into force of the Agreement.
64   
10. Electronic commerce 
167. The Agreement contains a Chapter on Electr onic Commerce which recognizes its importance 
for economic growth.  To this end, the Parties undertook to avoiding the imposition of customs duties 
and unnecessary barriers on electronic transmissions including digital products and impediments to 
supply through electronic means of the services covered by the Agreement (subject to any 
reservation) (Article 13.1).65 
168. The Parties also recognize the importance of maintaining or adopting transparent and 
effective measures to protect consumers from fr audulent and deceptive commercial practices when 
they engage in electronic commerce (Article 13.2).  
                                                      
64 Peru will request recognition for the following as  distinctive products  of Peru ("Pisco", "Maíz 
Blanco Gigante Cusco", and "Chulucanas"). 
65 Article 13.3 defines "digital products" as any computer programs, text, video, images, sound 
recordings and other products that are digitally encoded, regardless of whether they are fixed on a carrier 
medium or transmitted electronically, but does not include  digitized representations of financial instruments, 
including money; and "electronic transmissions or transmitted electronically" as the transfer of digital products 
using any electromagnetic or photonic means.  WT/REG269/1/Rev.1 
 Page 57 
 
 
  ANNEX I 
 
Details of tariff and trade liberalization under the Agreement  
  
1. A comparison between the scheduled elimination of tariffs applied to the Parties' mutual 
imports and the duty rates applied by Peru and Si ngapore to MFN imports is shown in Tables AI.1 
(Peru) and AI.2 (Singapore) below, by total, agricultural (WTO definition), and non-agricultural 
products. 
Table AI.1 
Peru: Indicators of MFN tariff rates and pr eferential rates for imports from Singapore 
ALL PRODUCTS Agricultural products a Non-agricultural products 
Average applied 
tariff Average applied 
tariff Average applied 
tariff Origin of 
goods Year 
Overall 
(%) On 
dutiable 
(%) Share of 
duty-free 
tariff 
lines (%) Overall 
(%) On 
dutiable 
(%) Share of 
duty-free 
tariff lines 
(%) Overall 
(%) On 
dutiable 
(%) Share of 
duty-free 
tariff lines 
(%) 
MFN 2009 5.0 10.9 53.8 6.2 9.6 35.2 4.9 11.1 56.4 
Singapore 2009 4.1 11.4 63.6 5.3 9.7 45.5 4.0 11.8 66.1 
 2010 3.9 10.8 63.6 5.1 9.4 45.5 3.8 11.1 66.1 
 2011 3.5 9.5 63.6 4.8 8.7 45.5 3.3 9.7 66.1 
 2012 2.9 7.9 63.6 4.0 7.3 45.5 2.7 8.1 66.1 
 2013 2.3 7.8 70.7 3.1 8.4 63.2 2.2 7.6 71.6 
 2014 1.9 6.4 70.7 2.8 7.7 63.2 1.7 6.1 71.6 
 2015 1.4 4.9 70.7 2.4 6.5 63.2 1.3 4.6 71.6 
 2016 1.0 3.3 70.7 1.8 4.8 63.2 0.9 3.1 71.6 
 2017 0.5 1.8 70.7 1.1 3.1 63.2 0.4 1.5 71.6 
 2018 0.1 7.9 99.1 0.5 7.7 93.3 0.0 17.0 100.0 
 2019 0.1 6.9 99.1 0.5 6.8 93.3 0.0 17.0 100.0 
 2020 0.1 6.0 99.1 0.4 5.9 93.4 0.0 17.0 100.0 
 2021 0.0 5.0 99.1 0.3 4.8 93.4 0.0 17.0 100.0 
 2022 0.0 3.9 99.1 0.2 3.7 93.4 0.0 17.0 100.0 
 2023 0.0 6.4 99.7 0.1 5.8 97.8 0.0 17.0 100.0 
 2024 0.0 3.6 99.7 0.1 2.9 97.8 0.0 17.0 100.0 
 2025 0.0 17.0 100.0 0.0 0.0 100.0 0.0 17.0 100.0 
 
a WTO Definition. 
 
Note: Tariff lines subject to in-quota rates are excluded in the computation.  Based on the HS 2007 nomenclature. 
 
Source: WTO Secretariat estimates based on data provided by Peru. 
 
2. In 2009, Peru's duty-free tariff lines accounted for 53.8% of the total. The overall average 
applied MFN rate was 5%;  the average applied ta riff on agricultural products was 6.2% compared to 
an average applied tariff of 4.9% for non-agricu ltural products.  Upon entry into force of the 
Agreement, Singapore's exporters enjoyed an absolute  margin of preference of 0.9% for all products, 
agricultural and non-agricultural goods, with an in crease in the share of Peru's duty-free lines (by 
10.3% for agriculture products and 9.7% for non- agricultural products).  By the tenth year of 
implementation (2018),  the share of duty-free lines w ill increase to 99.1% of the total, with an overall 
average applied rate of 0.1%.  Duties on non-agricu ltural products are to be completely eliminated, 
while 6.7% of agricultural tariff lines will remain subj ect to an average applied duty of 0.5%.  By the 
end of the implementation period (2025), 100% of tariffs will be duty-free under the Agreement.  
 
 
 
  
 WT/REG269/1/Rev.1 
Page 58  
 
  Table AI.2 
Singapore:  Indicators of MFN tariff rates a nd preferential rates for imports from Peru 
ALL PRODUCTS Agricultural products a Non-agricultural products 
Average applied 
tariff Average applied 
tariff Average applied 
tariff Origin of 
goods Year 
Overall 
(%) On 
dutiable 
(%) Share of 
duty-free 
tariff 
lines (%) Overall 
(%) On 
dutiable 
(%) Share of 
duty-free 
tariff lines 
(%) Overall 
(%) On 
dutiable 
(%) Share of 
duty-free 
tariff lines 
(%) 
MFN 2009 0.0 0.0 99.9 0.0 0.0 99.5 0.0 0.0 100.0 
Peru 2009 0.0 0.0 100.0 0.0 0.0 100.0 0.0 0.0 100.0 
 
a WTO Definition. 
 
Source : WTO Secretariat estimates based on data provided by Singapore. 
 
3. In 2009, Singapore's tariff for all but six lin es was duty free on an MFN basis.  These lines 
were liberalized upon entry into fo rce of the Agreement, resulting in complete duty-free treatment for 
Peru's exports to Singapore. 
4. Table AI.3 shows market access opportunities in Peru for Singapore's 25 top exports 
(aggregated at the HS 6-digit level), which accounted  for nearly half (49%) of its global exports in 
2006-2008.  Before the entry into force of the Ag reement, 77 lines were already duty-free on an MFN 
basis and 12 remained dutiable.  Of these 12 lines –which include other medicaments, prepared 
unrecorded media for sound etc., and precious metals- five were liberalized upon entry into force of 
the Agreement, one is to be liberalized in 2013, while the remaining six lines are to become duty-free 
in 2019. 
Table AI.3 – Peru:  Market access o pportunities under the agreement for Sin gapore's top 25 exports to the world 
Access Conditions to Peru's import markets  Singapore's top export products in 2006-2008  MFN (2009)  
No. of tariff lines  Duty-free in 
HS number and description of the product  Share in 
global 
exports 
(%) Average 
MFN 
applied 
rate 
(%) Duty-
free Dutiable 2009  2013 2019 
854239 -- Other 10.3 0.0 1     
271019 -- Other 10.2 0.0 23     
271011 -- Light oils and preparations 4.6 0.0 14     
847330 - Parts and accessories of the machines of 
heading 84.71 3.8 0.0 1     
844399 -- Other 2.7 0.0 1     
847170 - Storage units 2.4 0.0 1     
854290 - Parts 2.0 0.0 1     
854231 -- Processors and controllers, whether or 
not combined with memories, converters, 
logic circuits, amplifiers, clock and timing circuits, or other circuits 1.8 0.0 1     
300490 - Other 1.3 9.0  7 1  6 
851712 -- Telephones for cellular networks or for 
other wireless networks 1.2 0.0 1     
843143 -- Parts for boring or sinking machinery of 
subheading 8430.41 or 8430.49 1.0 0.0 2     
854190 - Parts 1.0 0.0 1     
852990 - Other 0.9 0.0 3     
880330 - Other parts of aeroplanes or helicopters 0.8 0.0 1     
853690 - Other apparatus 0.7 0.0 3     
292250 - Amino-alcohol-phenols, 
amino-acid-phenols and other amino-
compounds with oxygen function 0.7 0.0 3     
852329 -- Other 0.6 2.5 8 3 3   
854129 -- Other 0.5 0.0 1     
854390 - Parts 0.4 0.0 1     
710813 -- Other semi-manufactured forms 0.4 9.0  1 1   
853400 Printed circuits. 0.4 0.0 1     
Table AI.3 (Cont'd)   WT/REG269/1/Rev.1 
 Page 59 
 
 
  Access Conditions to Peru's import markets  Singapore's top export products in 2006-2008  MFN (2009)  
No. of tariff lines  Duty-free in 
HS number and description of the product  Share in 
global 
exports 
(%) Average 
MFN 
applied 
rate 
(%) Duty-
free Dutiable 2009  2013 2019 
851770 - Parts 0.4 0.0 1     
851762 -- Machines for the reception, conversion 
and transmission or regeneration of voice, 
images or other data, including switching 
and routing apparatus 0.4 0.0 3     
292249 -- Other 0.3 0.0 5     
711319 -- Of other precious metal, whether or not 
plated or clad with precious metal 0.3 9.0  1  1  
Total of above 49.0 77 12 5 1 6 
 
Source : WTO estimates based on data provided by Peru and UNSD,  Comtrade data. 
 
5. Market access opportunities in Singapore for Peru's  top 25 exports are shown in Table AI.4.  
These accounted for 81.5% of Peru's global expor ts in 2006-2008.  The 58 lines concerned were 
already duty-free at MFN level before th e entry into force of the Agreement. 
Table AI.4 – Singapore: Market access opportuni ties under the agreement for Peru's top 25 exports 
Access Conditions to Singapore's 
import markets  Peru's top export products in 2006-2008  
MFN (2009)  
HS number and description of the product Share in 
global exports 
(%) Average MFN 
applied rate 
(%) Number of 
duty-free lines  
710812 -- Other unwrought forms 16.6 0.0 2 
260300 Copper ores and concentrates. 14.9 0.0 1 
740311 -- Cathodes and secti ons of cathodes 9.8 0.0 1 
260800 Zinc ores and concentrates. 6.5 0.0 1 
230120 - Flours, meals and pellets, of fish or of crustaceans, 
molluscs or other aquatic invertebrates 4.6 0.0 1 
271019 -- Other 3.7 0.0 16 
261390 - Other 3.5 0.0 1 
271011 -- Light oils and preparations 2.8 0.0 13 
260700 Lead ores and concentrates. 2.3 0.0 1 
270900 Petroleum oils and oils obtained from bituminous 
minerals, crude. 2.1 0.0 3 
710691 -- Unwrought 2.0 0.0 1 
090111 -- Not decaffeinated 1.9 0.0 2 
610910 - Of cotton 1.6 0.0 2 
800110 - Tin, not alloyed 1.2 0.0 1 
150420 - Fats and oils and their fractions, of fish, other than liver 
oils 1.0 0.0 2 
740811 -- Of which the maximum cross-sectional dimension 
exceeds 6 mm 1.0 0.0 1 
610510 - Of cotton 0.9 0.0 1 
780110 - Refined lead 0.8 0.0 1 
070920 - Asparagus 0.8 0.0 1 
790111 -- Containing by weight 99.99%  or more of zinc 0.8 0.0 1 
260111 -- Non-agglomerated 0.6 0.0 1 
610610 - Of cotton 0.6 0.0 1 
200560 - Asparagus 0.5 0.0 1 
260112 -- Agglomerated 0.5 0.0 1 
740200 Unrefined copper; c opper anodes for electrolytic refining. 0.4 0.0 1 
Total of above 81.5  58 
 
Source : WTO estimates based on data provided by  Singapore and UNSD, Comtrade database. WT/REG269/1/Rev.1 
Page 60  
 
  ANNEX II 
 
List of products subject to special agricultural measure
 
  
1. Table AII.1 provides the complete list of agri cultural products that may be subject to a 
"special agricultural measure" pursuant to Chapter 3.   These mainly consist of dairy products, some 
cereals, vegetable oils, and suga r and sugar containing products. 
Table AII.1 List of products subject to special agricultural measure under Annex 3B 
HS Code Description 
0401100000 Of a fat content, by weight, not exceeding 1 % 
0401200000 Of a fat content, by weight, exceeding 1 % but not exceeding 6 % 
0401300000 Of a fat content, by weight, exceeding 6 % 
0402101000 In packing of a net content not exceeding 2,5 kg 
0402109000 Other 
0402211100 In packing of a net content not exceeding 2,5 kg 
0402211900 Other 
0402219100 In packing of a net content not exceeding 2,5 kg 
0402219900 Other 
0402291100 In packing of a net content not exceeding 2,5 kg 
0402291900 Other 
0402299100 In packing of a net content not exceeding 2,5 kg 
0402299900 Other 
0402911000 Evaporated milk 
0402919000 Other 
0402991000 Condensed milk 
0402999000 Other 
0403901000 Buttermilk 
0403909010 Flavoured or containing added fruit, nut s or cocoa, whether or not containing added sugar or other sweetening matter 
0403909090 Other 
0404109000 Other 
0405100000 Butter 
0405902000 Dehydrated dairy oil ("butteroil") 
0405909000 Other 
0406200000 Grated or powdered cheese, of all kinds 
0406300000 Processed cheese, not grated or powdered 
0406904000 Containing less than 50% by weight of humi dity calculated on a totally defatted basis 
0406905000 Containing not less than 50% but less than 56% by wei ght of humidity calculated on a totally defatted basis 
0406906000 Containing not less than 56% but less than 69% by wei ght of humidity calculated on a totally defatted basis 
0406909000 Other 
1005901100 Yellow 
1005901200 White 
1005909000 Other 
1006109000 Other 
1006200000 Husked (brown) rice 
1006300000 Semi-milled or wholly milled rice, whether or not polished or glazed 
1006400000 Broken rice 
1007009000 Other 
1103130000 Of maize (corn) 
1108120000 Maize (corn) starch 
1108130000 Potato starch 
1507901000 Containing added denatured substances  in a proportion not exceeding 1%  
1507909000 Other 
Table AII.1 (Cont'd)   WT/REG269/1/Rev.1 
 Page 61 
 
 
  HS Code Description 
1511100000 Crude oil 
1511900000 Other 
1701119000 Other 
1701120000 Beet sugar 
1701999000 Other 
1702302000 Glucose syrup 
1702600000 Other fructose and fructose syrup, cont aining in the dry state more than 50 % by  weight of fructose, excluding invert 
sugar 
1702902000 Caramel 
1702903000 Sugars containing added flav ouring or colouring matter 
1702904000 Other syrups 
 
Source: Annex 3B of the Agreement. 
 WT/REG269/1/Rev.1 
Page 62  
 
  ANNEX III 
 
List of imports subject to the Price Band System in Peru in 2010
 
 
Table AIII.1 
Products subject to the Price Band System 
HS Code Description 
0401100000 Milk and cream, not concentrated nor containing added sugar or  other sweetening matter of a fat content, by weight, not 
exceeding 1% 
0401200000 Of a fat content, by weight, exceeding 1% but not exceeding 6% 
0402101000 In powder, granules or other solid  forms, of a fat content, by weight, not exceeding 1.5%, containing added sugar or  
other sweetening matter, in packing of  a net content not exceeding 2,5 kg. 
0402109000 In powder, granules or other solid  forms, of a fat content, by weight, not exceeding 1.5%, containing added sugar or  
other sweetening matter, in packing of a net content exceeding 2,5 kg. 
0402211100 In powder, granules or other solid forms, of a fat content by weight in the dry matter not exceeding 26%, without ad ded 
sugar or other sweetening matter, in pack ing of a net content not exceeding 2,5 kg. 
0402211900 In powder, granules or other solid forms, of a fat content by weight in the dry matter not exceeding 26%, without ad ded 
sugar or other sweetening matter, in p acking of a net content exceeding 2,5 kg. 
0402219100 In powder, granules or other solid  forms, of a fat content by weight in the dry matter exceeding 1.5% but not exceed ing 
26%, without added sugar or other sweetening matter, in packing of a net content not exceeding 2,5 kg.  
0402219900 In powder, granules or other solid  forms, of a fat content by weight in the dry matter exceeding 1.5% but not exceed ing 
26%, without added sugar or other sweetening matter,  in packing of a net content exceeding 2,5 kg. 
0402291100 In powder, granules or other solid forms, of a fat content by weight in the dry matter exceeding 26%, containing add ed 
sugar or other sweetening matter, in packi ng of a net content not exceeding 2,5 kg.  
0402291900 In powder, granules or other solid forms, of a fat content by weight in the dry matter exceeding 26%, containing add ed 
sugar or other sweetening matter, in pack ing of a net content exceeding 2,5 kg.   
0402299100 In powder, granules or other solid  forms, of a fat content by weight in the dry matter exceeding 1.5% but not exceed ing 
26%, containing added sugar or other sweetening matter,  in packing of a net content not exceeding 2,5 kg 
0402299900 In powder, granules or other solid  forms, of a fat content by weight in the dry matter exceeding 1.5% but not exceed ing 
26%, containing added sugar or other sweetening matte r, in packing of a net content exceeding 2,5 kg 
0402991000 Condensed milk 
0404109000 Whey, whether or not concentrated or contai ning added sugar or other sweetening matter (Other)  
0405100000 Butter (manteca) 
0405902000 Dehydrated dairy oil («butteroil») 
0405909000 Other  
0406300000 Processed cheese, not grated or powdered  
0406904000 Cheese containing less than 50% by weight of  humidity calculated on a totally defatted basis 
0406905000 Containing not less than 50% but less than 56% by we ight of humidity calculate d on a totally defatted basis 
0406906000 Containing not less than 56% but less than 69% by we ight of humidity calculate d on a totally defatted basis 
0406909000 Other 
1005901100 Yellow maize, not for sowing 
1005901200 White maize, not for sowing 
1005909000 Other maize, not for sowing 
1006109000 Other rice, not for sowing 
1006200000 Husked (brown) rice 
1006300000 Semi-milled or wholly milled rice, whether or not polished or glazed 
1006400000 Broken rice 
1007009000 Other, not for sowing 
1103130000 Groats and meal, of maize 
1108120000 Maize starch 
1108130000 Potato starch 
1701119000 Cane sugar, not c ontaining added flavouring or colouring matter, except for brown sugarloaf 
1701120000 Beet sugar not containing a dded flavouring or colouring matter 
1701999000 Other cane or beet sugars, in solid form 
1702302000 Glucose syrup 
1702600000 Other fructose and fructo se syrup, containing in the dry state more th an 50 % by weight of fructose, excluding inver t 
sugar 
1702902000 Caramel containing in the dry st ate 50% by weight of fructose  
1702903000 Sugars containing added flavouring of colouring containing in th e dry state 50% by weight of fructose  
1702904000 Other syrups, containing in the dr y state 50% by weight of fructose 
1901902000 Milk caramel or milk sweet ("manjar blanco") 
1901909000 Other malt extract; food preparations of flour, groats, meal, starch or malt extract, not containing cocoa or contai ning 
less than 40% by weight of cocoa calculated on a totall y defatted basis, not elsewhere specified or included 
2106907900 Other food preparation  
2106909000 Other food preparation, not elsewhere specified or included 
2309909000 Other preparations of a kind used in animal feeding 
3505100000 Dextrins and other modified starches 
Source: Data provided by Peru. 
_________