Paraguay coordinates meetings with Mercosur and Singapur

Asunción, Agencia IP.- Technical meetings between the Mercosur and Singapore were initiated in Asunción, and they will be developed all week, aiming to advance into the prompt subscription of the agreement of free commerce between both parties.

The parties ratified their commitment and disposition to continue the works according to the established chronogram to give the necessary negotiating impetus to the ambitious process begun in 2019. Its substantive conclusion occurred in 2022 and will constitute the bloc’s first trade agreement signed with a Southeast Asian country.

This agreement will imply the diversification of commercial flows and the improvement of conditions for filing the investments between both parties, considering that Singapore is an important supplier of capitals in the world.

Likewise, it constitutes the first agreement of the new generation subscribed by the South American block, where the commercial disciplines are updating to the highest standards globally, informed the Minister of Foreign Affairs.

Paraguay is the coordinator of this negotiation, representing Mercosur. The Director of Economic Policy of the Ministry of Foreign Affairs, Alberto Caballero, is the chief negotiator and leads the delegation with diplomats and experts from the Ministry of Foreign Affairs and the Ministry of Industry and Commerce. Francis Chong of the Ministry of Industry and Commerce leads the Singapore delegation.