FTA between S’pore, Paraguay comes into effect under deal on lower tariffs with South American bloc
![Minister for Foreign Affairs Dr Vivian Balakrishnan with [from left] Argentina President Alberto Fernández, Paraguay President Santiago Peña, Brazil President Luiz Inácio Lula da Silva, and Uruguay President Luis Lacalle Pou, at the signing ceremony for the MERCOSUR-Singapore Free Trade Agreement in Rio de Janeiro, 7 December 2023. Credit: Ricardo Stuckert](https://cassette.sphdigital.com.sg/image/straitstimes/0e625fbc01957152ee8ca4bca8959bdbdd73d3f13cf7a3bab4decaa019a8afd0?w=480)
![Minister for Foreign Affairs Dr Vivian Balakrishnan with [from left] Argentina President Alberto Fernández, Paraguay President Santiago Peña, Brazil President Luiz Inácio Lula da Silva, and Uruguay President Luis Lacalle Pou, at the signing ceremony for the MERCOSUR-Singapore Free Trade Agreement in Rio de Janeiro, 7 December 2023. Credit: Ricardo Stuckert](https://cassette.sphdigital.com.sg/image/straitstimes/1cf299d7023ab666852c85b4c189b2a026d52edb51fc4aab2d95144d93cb72ce?w=480)
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