Brazil to sign a free trade agreement with the Asian country leader Singapore in wealth

Published 2021년 7월 13일

Tridge summary

Brazil is set to complete a free trade agreement with Singapore by the end of the year, following two years of negotiations. This pact is anticipated to boost Brazilian exports to Asia's largest export hub, which have climbed from the 12th to the 8th position this year. The deal is expected to increase trade and serve as a gateway for Brazilian products in Asia. Meanwhile, Brazil's trade balance has seen a significant improvement, with a positive balance of $37.5 billion in the first half of 2021, driven by agribusiness and the resumption of economic activity in other countries. Additionally, Brazil is in discussions with Canada and South Korea for free trade agreements, although the progress of these talks has been slowed by the pandemic.

Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

By the end of the year, Mercosur, led by Brazil, should conclude a free trade agreement with Singapore, a country that has the third highest GDP per capita in purchasing power parity in the world and is one of the largest export centers in Asia , with the fifth largest global port. Brazil's trade with Singapore has been increasing significantly. In 2020, the country occupied 12th place in the ranking of the main destinations for Brazilian exports. This year, it has already moved to the 8th position, ahead of countries like Germany and Mexico. "The agreement should represent an increase in trade with Singapore and an important gateway for Brazilian products between Asian countries," said Pedro Miguel da Costa e Silva, Secretary for Bilateral and Regional Negotiations in the Americas at the Ministry of Foreign Affairs, in an exclusive interview with EXAME. Negotiations have been taking place for at least two years and should proceed towards the formal signing of the agreement by the ...

Source: BrExame