The agreement strengthens Singapore’s trade relations with Latin America and expands opportunities for businesses across key sectors.
The Pacific Alliance–Singapore Free Trade Agreement (PASFTA) will officially enter into force on 3 May 2025, marking a significant milestone in deepening economic ties between Singapore and the Pacific Alliance bloc—comprising Chile, Colombia, Mexico, and Peru.
The agreement will provide greater access to Latin American markets for Singaporean companies, particularly in industries such as infrastructure, professional services, digital trade, and agri-food. It also streamlines customs procedures, enhances investment protections, and supports cooperation in innovation and sustainability.
Singapore is the first associate state of the Pacific Alliance, positioning itself as a strategic gateway between Asia and Latin America. The PASFTA enhances market connectivity, simplifies trade rules such as rules of origin, and facilitates regional expansion for enterprises of all sizes.
The trade deal reflects Singapore’s broader strategy to remain open, adaptable, and connected to global markets amidst evolving economic conditions. Trade continues to be a key pillar of Singapore’s economy, and this agreement provides new pathways for growth and collaboration beyond the Asia-Pacific region.
The agreement was concluded following multiple rounds of engagement between Singapore and Pacific Alliance member states, in close cooperation with stakeholders across both public and private sectors.
