01/08/2026
Good news for Singapore!š¤
Today, the MERCOSUR-Singapore Free Trade Agreement entered into force for Singapore and Brazil. As Singapore's 29th Free Trade Agreement, it is another important step in keeping our economy open, connected and full of opportunities for our people and businesses.
Brazil is the largest economy in MERCOSUR and one of Singapore's biggest trading partners in Latin America. Through this agreement, tariffs on around 96% of products will be eliminated over time, making it easier and more cost-effective for our businesses to export and grow in the region.
What does this mean for Singaporeans? As our businesses gain better access to overseas markets, they can expand, create new opportunities and support good jobs here at home.
My thanks to everyone who contributed over the years to bring this agreement into force. Together, we are creating more opportunities for Singaporeans and strengthening Singapore's place in the global economy.