Brazilian Minister of Development, Industry and Trade Marcio Elias Rosa (L), Foreign Minister Mauro Vieira (C) and Vice President Geraldo Alckmin arrive for a press conference at the Ministry of Development, Industry and Trade in Brasilia, Brazil, on July 16. Vieira said the new 25% U.S. tariff on certain Brazilian imports was imposed after Brazil refused demands to give U.S. companies exclusive access to sectors of the Brazilian economy. Photo by Andre Borges/EPA
July 29 (UPI) -- Brazil on Saturday will implement the free trade agreement between the Southern Common Market, or Mercosur, and Singapore -- the bloc's first trade agreement with a Southeast Asian country.
The pact will grant duty-free access to all Brazilian exports to that market from the first day it takes effect.
The agreement, signed in December 2023, covers trade in goods and services, investment, government procurement, intellectual property, rules of origin and trade facilitation.
Brazilian Vice President and Minister of Development, Industry, Trade and Services Geraldo Alckmin said President Luiz Inácio Lula da Silva signed the Mercosur-Singapore agreement, describing it as the bloc's first trade deal aimed at the Asian market.
