By Fiona Chan

EXPORTERS of food and telecommunications equipment look set to be among the major beneficiaries of the new free trade agreement signed with six Gulf states on Monday.

The pact waives tariffs for 99 per cent of Singapore's exports to the Gulf Cooperation Council (GCC), which comprises Bahrain, Kuwait, Oman, Qatar, Saudi Arabia and the United Arab Emirates (UAE).

This means major savings for companies here, as only 10 per cent of exports are currently tariff-free.

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