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Singapore and Pacific Alliance discuss an FTA

Singapore and the Pacific Alliance are expediting their negotiations on a free trade agreement between them. The FTA, if concluded, will create a huge market with 210 million consumers and combined Gross Domestic Product of US$ 4.05 trillion. Some of the sectors that can be tapped for cooperation include modern services, food production, information and communication technology and urban solutions.

The Pacific Alliance is a Latin American trade bloc grouping comprising of Mexico, Peru, Chile and Colombia. Trade between Singapore and the region stood at US$ 5.9 billion last year.