Free trade agreement with MERCOSUR to provide investor protection

The deal concluded on 21 July 2022 in Paraguay.

The MERCOSUR-Singapore Free Trade Agreement (MCSFTA) will soon benefit businesses by providing investor protection, fair competition, and simple trade procedures.

This after MERCOSUR and Singapore concluded its negotiations for the trade agreement on the sidelines of MERCOSUR Summit 2022 in Paraguay.

It will also allow Singapore and MERCOSUR to have better access to each other’s markets by lowering tariff rates on traded products, enhanced market access, and opportunities for companies to enter government procurement projects.

READ MORE: Over 70 firms sign up for SG’s trade data exchange platform 

OCBC, Standard Chartered complete 30-year SORA OIS trade

Reacting to this, Minister for Trade and Industry Gan Kim Yong said the first trade agreement with MERCOSUR deepens their ties with Latin American partners.