ASEAN-Korea Free Trade Area (AKFTA) Industry Outreach Session
CFT261122
Overview
The ASEAN-Korea Free Trade Area (AKFTA) has been the cornerstone of ASEAN-Korea economic relations since the Framework Agreement’s entry-into-force in 2026, providing Singapore companies access to a combined market of 700 million people across 10 countries. Since the AKFTA Trade in Goods Agreement entered into force in June 2007, ASEAN–Korea trade has nearly tripled from approximately US$72 billion in 2007 to approximately US$205 billion last year. 91.1% of Singapore exports to the Republic of Korea (ROK) currently enjoy zero tariffs, including in key sectors such as electronics and chemicals.
ASEAN and the Republic of Korea are currently upgrading the AKFTA, with the first official negotiating round held in early June 2026. To ensure that the upgraded AKFTA is relevant and responsive to business needs, the Ministry of Trade and Industry (MTI) and Singapore Business Federation (SBF) would like to invite industry representatives from Singapore-based companies to the AKFTA Industry Outreach Session.
Event Detail
| Time | Segment | Proposed Speakers / Involvement |
| 2.00 - 2.10pm | Opening Remarks | MTI; SBF |
| 2.10 - 2.40pm | Background on the AKFTA Upgrade Negotiations and Discussion on Non-Tariff Barriers to Trade in Goods | MTI |
| 2.40 -3.00pm | Tea Break | Informal engagement |
| 3.00 -3.55pm | Discussion on new issues (Digital Economy, Supply Chain Connectivity, Energy, Raw and Intermediate Materials, Sustainable Development and Green Economy) | MTI |
| 3:55 -4:00pm | Closing Remarks | MTI |
WHY SHOULD I ATTEND
- Gain First-Hand Insights: Hear directly from MTI about the AKFTA and understand how the upgraded agreement can better serve your companies’ cross-border business needs.
- Influence Policy: Share your company’s challenges with navigating non-tariff barriers to trade in goods and regulatory challenges, and thoughts on opportunities in emerging areas such as digital economy, green economy, supply chain connectivity, and energy.
- Hear Real-World Experiences: Hear how fellow industry representatives are approaching cross-border trade and investment and take away practical perspectives on doing business in and with Korea more effectively.
WHO SHOULD ATTEND
This session is intended for industry representatives from Singapore-based companies with existing or planned cross-border trade and investment activities between ASEAN and South Korea.
Thursday, 23 July 2026 - Thursday, 23 July 2026 
2:00 PM - 4:00 PM