On 5 April 2021, the Ministry of Trade and Industry announced that Singapore has ratified the ASEAN Trade in Services Agreement (“ATISA“), becoming the first of the ASEAN Member States to do so, and that other ASEAN Member States would be continuing their internal procedures to ratify the ATISA within the year.
The ATISA reduces barriers for services suppliers and creates a more stable and predictable environment for trade in services in ASEAN. It seeks to benefit businesses and workers by further promoting trade in services in the ASEAN region and improving business confidence for businesses and service suppliers in all sectors. In this Update, we look at the key elements and benefits of the ATISA.
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