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Mercosur-Singapore trade pact enters into force with Argentina
The agreement now applies between Singapore and all four founding Mercosur members, which may affect food sourcing and trade access for businesses in both regions.
What happened
The Mercosur-Singapore Free Trade Agreement entered into force between Singapore and Argentina on November 1. singaporelawwatch.sg+1 The move completes implementation with all four founding Mercosur member states. vietnamnews.vn The agreement had previously taken effect with Paraguay, Uruguay and Brazil. vietnamnews.vn The agreement eliminates import tariffs on 96% of products for up to 15 years. singaporelawwatch.sg A joint statement from Singapore's Ministry of Energy, Trade and Industry and the Argentine embassy in Singapore called it a significant milestone in Singapore's economic engagement with South America. singaporelawwatch.sg+1
Around it
The agreement covers trade in goods and services, investment, government procurement, digital trade, intellectual property and economic cooperation. vietnamnews.vn The statement said Argentina's position as a major agricultural and food producer supports Singapore's efforts to diversify food import sources and strengthen food resilience. singaporelawwatch.sg Opportunities were also cited in energy, infrastructure, logistics, technology and services, and Argentine businesses can use Singapore's regional hub status to access South-east Asia. singaporelawwatch.sg The agreement establishes more transparent customs procedures and supports expedited clearance of express shipments and perishable goods. vietnamnews.vn
Sources
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