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Mercosur negotiates free trade agreement with Singapore

Mercosur, Singapur, acuerdo, libre, comercio

Mercosur negotiates free trade agreement with Singapore

Asunción, Jul 13 (Prensa Latina) Representatives of the Southern Common Market (Mercosur) are negotiating here a free trade agreement with Singapore that will strengthen the organization's presence in Asia-Pacific, the Paraguayan Information Agency (IP) reported today.

Some 50 businessmen from Argentina, Brazil, Paraguay, Uruguay and Singapore deal in the Paraguayan capital, whose government is president pro tempore of the entity, in the context of the VI Round of Negotiations between both parties.

The free trade agreement, whose negotiations began in 2019 and will conclude on Friday with the signing of the document, will increase and diversify trade and investment flows, the Foreign Ministry assured.

The meeting discusses through bilateral negotiating groups technical documents on services, investments and institutions, while other pending issues will be addressed directly by leaders of both parties.

The Singapore negotiators are from the Ministry of Industry and Commerce, and the Paraguayans from the portfolios of Foreign Affairs, Finance, Industry and Commerce, and Agriculture and Livestock.

Mercosur is a regional integration process founded in 1991 by Argentina, Brazil, Paraguay and Uruguay and later also integrated by Venezuela, currently suspended from the bloc, and by Bolivia, still in the accession process.

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