Once effective, the agreement will guarantee Mercosur’s privileged access to the Singapore market. It will cover tariff and regulatory topics, such as services, investiments, government procuremen, intellectual property, sanitary and phytosanitary measures and trade defense.
Among the mains products exported by the South American bloc are meats, metal alloys and iron ore. On the other hand, Mercosur members import insecticides, integrated circuits, medicines and vessels fron Asian country.
There are broad commitmens made in relation to trade in services, investment facilitation and electronic commerce.
The Mercosur-Singapore agreement will contribute to attracting investments to Brazil, it will insert the country into global value chains and strengthen relations with one of the most dynamic regions in the world, in addition and increase of R$ 28.1 billion in Brazilian GDP, considering the accumulated value between 2022 and 2041.