Mercosur–Singapore deal secures zero tariffs on exports
The Mercosur–Singapore agreement takes effect next Saturday (Aug. 1) and should gradually reduce or eliminate tariffs between Singapore and the South American bloc. The agreement guarantees zero tariffs on all Brazilian exports to Singapore. The agreement also establishes common criteria for trade operations. Notícias relacionadas: Brazil to step up efforts toward Mercosur–S. Korea deal. Lula and…
The Mercosur–Singapore trade agreement, effective from August 1, is set to eliminate tariffs on all Brazilian exports to Singapore. This pact also lays down common criteria for trade operations. Beyond tariff reduction, the agreement broadens access to the services market, promotes investment, and includes a dedicated e-commerce chapter, marking Mercosur's first such arrangement with a non-regional partner.
Uruguay and Paraguay have already been benefiting from this deal since March and February respectively. By 2025, bilateral trade between Brazil and Singapore had already hit USD 10.7 billion, with Brazilian goods amounting to USD 7.4 billion, yielding a surplus of USD 4.1 billion. Key exports include fuel oils, machinery, and meat products like beef, pork, and poultry.
The Brazilian government has provided comprehensive manuals on Siscomex Portal, detailing tariff preferences, origin determination, and foreign trade procedures. Signed in 2022, the agreement was envisioned by the Brazilian administration to augment GDP by BRL 28.1 billion by 2041. Negotiations for this pact began in 2018, and it is anticipated to augment Mercosur's exports to Singapore by USD 500 million annually.
Written by urgent.news from Agencia Brasil's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
