SINGAPORE: Singapore on Wednesday signed a free trade agreement with the Pacific Alliance, a bloc made up of Chile, Colombia, Mexico, and Peru and a combined gross domestic product of more than US$2 trillion, said the Ministry of Trade and Industry on Thursday.
"Singapore is honoured to be the first Associate State of the Pacific Alliance, and the PASFTA will institutionalise and strengthen the economic links between our countries," he said. "We hope that more companies from the Pacific Alliance will follow, and use Singapore as a gateway to uncover markets and seize business opportunities in our region," he said.Mr Lee added that the signing of the agreement is a"strong message of hope and opportunity" as the world continues to grapple with the COVID-19 pandemic.
With the signing of the agreement and the joint declaration, Singapore will become the first associate member of the alliance.
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