The Mercosur-Singapore Agreement, which should gradually reduce or eliminate tariffs between the Asian country and the South American bloc, comes into effect next Saturday (1st), according to a note from "Agência Brasil". The partnership guarantees zero tariffs for 100% of Brazilian exports destined for the Asian country. The text will also define common criteria for commercial operations. In addition to tariff reduction, the agreement expands access to the services market, encourages investment and includes a specific chapter on e-commerce, the first negotiated by Mercosur with an extra-regional partner. The agreement with Singapore has been in effect in Uruguay since March and in Paraguay since February. In 2025, the trade flow between Brazil and Singapore reached US$ 10.7 billion. Brazilian exports totaled US$ 7.4 billion, with a trade surplus of US$ 4.1 billion. Among the main products sold are fuel oils, machinery and beef, pork and poultry. The Brazilian government has made available manuals to provide guidance for exporters, importers, and foreign trade operators. The information is available on the Siscomex Portal. The information provided covers the rules for applying tariff preferences, the criteria for the origin of goods, and the procedures necessary to carry out foreign trade operations within the framework of the agreement. The agreement was signed in 2022, and the Brazilian government's expectation at the time was to increase the Gross Domestic Product (GDP, the sum of goods and services produced) by R$ 28.1 billion by 2041. Negotiated since 2018, the agreement with Singapore is expected to increase Mercosur exports to the Asian country by US$ 500 million per year.
This text was translated by machine from Brazilian Portuguese.