Sumary of Singapore and Pacific Alliance conclude talks on free trade pact:
- Negotiations have been concluded between Singapore and the Pacific Alliance, a trading bloc of four Latin American nations, on an agreement to collaborate on energy, digital economy, infrastructure and urban solutions, port management and logistics, and other areas.
- The free trade agreement (FTA) was welcomed by Trade and Industry Minister Gan Kim Yong and ministers of Chile, Colombia, Mexico and Peru in a videoconference on Wednesday.
- The FTA represents a shared commitment by the alliance and Singapore to persevering with greater economic integration and supporting a rules-based multilateral trading system, Mr Gan said.
- Colombian Minister of Trade, Industry and Tourism Maria Ximena Lombana said the trade pact marks a milestone in the alliance’s economic integration with the Asia-Pacific region.