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Free Trade Agreement signed between Mercosur and Singapore

Free Trade Agreement signed between Mercosur and Singapore

During the LXIII Summit of MERCOSUR held on Thursday (12/7), the Free Trade Agreement between MERCOSUR and Singapore was signed. This Agreement marks the end of 12 years without new agreements within the South American bloc. It is also the first free trade agreement celebrated by Mercosur with a country in the Asia-Pacific region. 

According to data from the Brazilian government, Brazil’s trade relationship with Singapore showed a surplus of $7.4 billion, making it the second-largest market for Brazilian exports in Asia, second only to China. In terms of investments, in 2021, Singapore ranked 12th as Brazil’s foreign direct investment source. The main product exported by the country is fuel oils. With the trade openness facilitated by the Agreement, opportunities are expected to arise in other sectors, such as agriculture, machinery and equipment, and financial services. 

The Free Trade Agreement covers tariffs, technical barriers, micro and small businesses, government procurement, intellectual property, sanitary and phytosanitary measures, e-commerce, and trade facilitation. The full text of the Agreement can be viewed at https://www.mercosur.int/acuerdo-mercosur-singapur/. 

Regarding tariff commitments, Singapore has committed to immediately eliminate all its tariff universe for Mercosur upon the Agreement’s entry into force. At the same time, Mercosur member countries are required to progressively eliminate import duties for 95.8% of the product universe over 15 years. 

The Free Trade Agreement establishes specific rules of origin for products from Mercosur countries and Singapore, with the option of self-declaration of origin by exporters, as Mercosur’s new origin regime stipulated. 

Regarding e-commerce, commitments were made on electronic authentication, online consumer protection, and invoicing. Cooperation was also promoted in the areas of cross-border data flow and cybersecurity. 

It is noteworthy that the Agreement reaffirms the commitment of the parties to promote international trade in a manner that contributes to sustainable development in its economic, social, and environmental dimensions. 

The Agreement will enter into force when Singapore and at least one of the Mercosur members ratify it. 

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Luna Coelho

Estudante de graduação pela Faculdade de Direito de Ribeirão Preto da Universidade de São Paulo (FDRP-USP), com conclusão prevista para dezembro de 2026. É membro ativa da rede Women Inside Trade (WIT) como WIT Starter, participando sobretudo na pesquisa, produção e edição do podcast da rede.

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Bruna Atala

Attorney with a law degree from the Pontifical Catholic University of São Paulo (PUC-SP) and a postgraduate degree in Civil Procedure from Fundação Getulio Vargas (FGV LAW). During her studies, she served as a researcher and oralist on PUC-SP’s team in the Philip C. Jessup International Law Moot Court Competition (2020), and her undergraduate thesis in International Law received an honorable mention.

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Bernardo Ribeiro

Mestre e bacharel pela Faculdade de Direito de Ribeirão Preto da Universidade de São Paulo (FDRP/USP). Como advogado já representou empresas e associações, nacionais e estrangeiras, em casos de Defesa Comercial, Alteração Tarifária, Regime de Origem e Direito Aduaneiro. Contribuiu para o Online Repository of Contributions to the Policy Hackathon on Model Provisions for Trade in Times of Crisis and Pandemic da ONU. Foi presidente do Núcleo de Estudos de Direito Internacional de Ribeirão Preto (NEDIRP).

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Karla Borges Furlaneto

Partner at BFSA, Karla advises and counsels companies and associations in international economic law, with an emphasis on international trade issues, international contracts, investments, and other matters related to foreign trade.

Throughout her career, she has been involved in a wide variety of business and legal issues, both in Brazil and in foreign jurisdictions.

Her work as a lawyer has been recognized as Who's Who in International Trade (2022).

With an extensive professional trajectory, Karla has experience in matters such as: leading multidisciplinary teams; taking part in management committees and councils of public-private entities and groups; supervising and issuing strategic opinions in studies; analyzing and defending clients on issues related to international trade and investments, international law and governmental relations.

She graduated from the Universidade Estadual de Londrina (UEL), holds a masters’ degree in International Relations from the Fletcher School of Law and Diplomacy and a Ph.D. in International Trade Law from the Faculdade de Direito da Universidade de São Paulo (USP).

A scholar of international law and international trade, she is a law professor at ESPM, was a researcher and director of the Instituto de Direito do Comércio Internacional e Desenvolvimento - IDCID, linked to USP, a Fundação Ford scholar, and more recently a researcher at the Centro Brasileiro de Relações Internacionais - CEBRI. She has published several articles and book chapters.

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Fernanda Sayeg

Partner at BFSA, Fernanda Sayeg advises and represents companies and entities in the areas of International Trade Law, Customs Law, and Economic and Competition Law.

She has worked in large Brazilian law firms representing Brazilian and foreign clients in trade defense investigations, either before the Brazilian government or abroad, in matters related to import taxes, international contracts, and customs law. She also has extensive experience in administrative proceedings and concentration acts in the Conselho Administrativo de Defesa Econômica (CADE).

She holds a Bachelor's Degree in Law, a Master's Degree in International Law, and a Ph.D. in International Law from the Universidade de São Paulo (USP), and a specialist in international trade and investments from the Facultad de Derecho - Universidad de Buenos Aires (UBA). She took part in the Complementary Training and Research Program on International Trade at the Brazilian Delegation to the World Trade Organization (WTO) and other Economic Organizations in Geneva.

She was a researcher and director of the Instituto de Direito do Comércio Internacional e Desenvolvimento - IDCID, linked to USP. She is currently a professor in MBA and post-graduate courses, with emphasis on international trade law, customs law, and taxation. She is also the author of several academic articles and book chapters.

Her work as a lawyer has been recognized in publications such as Who's Who, Chambers and Partners, Análise 500, and by the Brazilian government, which appointed her as a panelist at the Dispute Settlement Body of the World Trade Organization (WTO) (2017 to 2020).

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Fernanda Sayeg

Partner at BFSA, Fernanda Sayeg advises and represents companies and entities in the areas of International Trade Law, Customs Law, and Economic and Competition Law.

She has worked in large Brazilian law firms representing Brazilian and foreign clients in trade defense investigations, either before the Brazilian government or abroad, in matters related to import taxes, international contracts, and customs law. She also has extensive experience in administrative proceedings and concentration acts in the Conselho Administrativo de Defesa Econômica (CADE).

She holds a Bachelor's Degree in Law, a Master's Degree in International Law, and a Ph.D. in International Law from the Universidade de São Paulo (USP), and a specialist in international trade and investments from the Facultad de Derecho - Universidad de Buenos Aires (UBA). She took part in the Complementary Training and Research Program on International Trade at the Brazilian Delegation to the World Trade Organization (WTO) and other Economic Organizations in Geneva.

She was a researcher and director of the Instituto de Direito do Comércio Internacional e Desenvolvimento - IDCID, linked to USP. She is currently a professor in MBA and post-graduate courses, with emphasis on international trade law, customs law, and taxation. She is also the author of several academic articles and book chapters.

Her work as a lawyer has been recognized in publications such as Who's Who, Chambers and Partners, Análise 500, and by the Brazilian government, which appointed her as a panelist at the Dispute Settlement Body of the World Trade Organization (WTO) (2017 to 2020).

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