☺️☺️☺️☺️☺️☺️☺️☺️☺️☺️ VI. Read the following passage and mark the letter A, B, C, or D to indicate the correct answer to each,of the questions.,Singapore's role as a trade partner and signatory in the ASEAN region is well-documented. In fact, the,very first free trade agreement (FTA) made officially valid by Singapore in 1992 was the Common Effective,Preferential Tariff (CEPT) scheme, that cut down on inter-ASEAN import duties and customs costs. This,agreement, known as the ASEAN Free Trade Agreement (AFTA), opened the door for companies set up in,Singapore to trade freely and conveniently with other ASEAN countries.,Since then, Singapore has entered into bilateral FTAs with key trade partners such as the U.S, Australia,,Japan, New Zealand and several other countries. These FTAs have, over the years, eased the market entry and,enabled significant market presence of products from signatory countries. The US-Singapore Free Trade,Agreement (USSFTA) for instance has increased U.S services exports by more than 100 per cent within 10,years of its ratification.,As a core member of ASEAN, Singapore has also acted as a regional signatory to the establishment of,10 regional free trade areas, including ASEAN-Australia-New Zealand, ASEAN-China and ASEAN-India.,Singapore isn't stopping there - it has signed two globally significant FTAs, namely the European Union-,Singapore Free Trade Agreement (EUSFTA) and the Comprehensive and Progressive Agreement for Trans-,pacific Partnership (CPTPP).,The EUSTFA is the first bilateral FTA that the EU has signed with an ASEAN member nation, and,once ratified will facilitate greater market access, more investment protection as well as the removal of non-,tariff barriers for European companies to trade in the ASEAN region. Meanwhile, the CPTPP will facilitate,market entry for companies based in member nations of the Asia Pacific Economic Cooperation (APEC), such,as Canada and New Zealand.,Question 1: Which of the following can be the best title for the passage?,A. Singapore's openness to trade B. Singapore and ASEAN,C. Singapore-EU relations D. Singapore-US commercial matters,Question 2: What was ratified by Singapore in 1992 that relaxed inter-ASEAN import duties and customs,costs?,A. Common Effective Preferential Tariff B. Inter-ASEAN import duties,C. Inter-ASEAN customs costs D. ASEAN Free Trade Agreement,Question 3: Which of the following is NOT mentioned as a key trade partners of Singapore when entering into,bilateral FTAs?,A. the U.S B. China C. Australia D. New Zealand,Question 4: What does the word "its" in paragraph 2 refer to?,A. Singapore B. the market entry C. The U.S. D. Free Trade Agreement,Question 5: What are the two globally significant FTAs signed by Singapore?,A. ASEAN-Australia-New Zealand free trade areas B. ASEAN-China free trade areas,C. ASEAN-India free trade areas D. EUSFTA and CPTPP

Question

☺️☺️☺️☺️☺️☺️☺️☺️☺️☺️ VI. Read the following passage and mark the letter A, B, C, or D to indicate the correct answer to each,of the questions.,Singapore&#x27;s role as a trade partner and signatory in the ASEAN region is well-documented. In fact, the,very first free trade agreement (FTA) made officially valid by Singapore in 1992 was the Common Effective,Preferential Tariff (CEPT) scheme, that cut down on inter-ASEAN import duties and customs costs. This,agreement, known as the ASEAN Free Trade Agreement (AFTA), opened the door for companies set up in,Singapore to trade freely and conveniently with other ASEAN countries.,Since then, Singapore has entered into bilateral FTAs with key trade partners such as the U.S, Australia,,Japan, New Zealand and several other countries. These FTAs have, over the years, eased the market entry and,enabled significant market presence of products from signatory countries. The US-Singapore Free Trade,Agreement (USSFTA) for instance has increased U.S services exports by more than 100 per cent within 10,years of its ratification.,As a core member of ASEAN, Singapore has also acted as a regional signatory to the establishment of,10 regional free trade areas, including ASEAN-Australia-New Zealand, ASEAN-China and ASEAN-India.,Singapore isn&#x27;t stopping there - it has signed two globally significant FTAs, namely the European Union-,Singapore Free Trade Agreement (EUSFTA) and the Comprehensive and Progressive Agreement for Trans-,pacific Partnership (CPTPP).,The EUSTFA is the first bilateral FTA that the EU has signed with an ASEAN member nation, and,once ratified will facilitate greater market access, more investment protection as well as the removal of non-,tariff barriers for European companies to trade in the ASEAN region. Meanwhile, the CPTPP will facilitate,market entry for companies based in member nations of the Asia Pacific Economic Cooperation (APEC), such,as Canada and New Zealand.,Question 1: Which of the following can be the best title for the passage?,A. Singapore&#x27;s openness to trade B. Singapore and ASEAN,C. Singapore-EU relations D. Singapore-US commercial matters,Question 2: What was ratified by Singapore in 1992 that relaxed inter-ASEAN import duties and customs,costs?,A. Common Effective Preferential Tariff B. Inter-ASEAN import duties,C. Inter-ASEAN customs costs D. ASEAN Free Trade Agreement,Question 3: Which of the following is NOT mentioned as a key trade partners of Singapore when entering into,bilateral FTAs?,A. the U.S B. China C. Australia D. New Zealand,Question 4: What does the word "its" in paragraph 2 refer to?,A. Singapore B. the market entry C. The U.S. D. Free Trade Agreement,Question 5: What are the two globally significant FTAs signed by Singapore?,A. ASEAN-Australia-New Zealand free trade areas B. ASEAN-China free trade areas,C. ASEAN-India free trade areas D. EUSFTA and CPTPP

Accepted Answer

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