2.26. The GSFTA comprises 10 chapters and 6 exchange of letters. It covers, amongst others, trade in goods and services, customs procedures, government procurement, e-commerce, and investment. Upon entry into force of the GSFTA, the GCC eliminated MFN tariffs on approximately 93.9% of all tariff lines; 2.7% of MFN tariffs are to be eliminated in 2018, while the remaining 3.4% will remain at MFN rates as they are not covered by the FTA. Singapore eliminated customs duties on all goods originating from GCC countries from the date of entry into force of the Agreement. The rules of origin require a value-added share of at least 35% for imports to qualify for preferential tariff treatment, although the procedures for claiming preferential tariff treatment have yet to be finalized. The agreement provides for the recognition by Kuwait, Oman, Qatar, and the UAE of Singapore's halal certification by Maps Ugama Islam Singapura (MUIS).
2.27. In the services sector, the agreement follows a positive list approach. Singapore has made commitments for preferential GCC access for services such as financial services, legal services, integrated engineering services, advertising, retailing, and transport.
2.28. Singapore's trade with the GCC accounted for 10.3% of its total imports and 2.0% of its total exports in 2013-15.