Singapore deepens Latin America ties on supply chains, green finance

Trade between the two has more than doubled to over $35b in the past five years.

Singapore is looking to deepen cooperation with Latin America across supply chains, food security and green and digital finance, as trade between the two regions accelerates and new agreements take hold.

Minister of State for Trade and Industry Foo Cexiang said this at the Singapore Business Federation's LATAM Conference on 24 September.

In connectivity and supply chains, Singapore and Brazil signed a Memorandum of Understanding last month to establish the Singapore-Brazil Green and Digital Shipping Corridor, pairing Brazil's renewable-energy potential for alternative marine fuels with Singapore's bunkering port.

In agri-food resilience, Foo noted Latin America is the largest net food exporter globally, producing enough food for nearly 1.3 billion people, more than twice its own population.

Singapore imports more than 90% of its food, and Brazil is amongst its top three chicken sources, also supplying beef and pork.

In green and digital economies, Singapore has signed Implementation Agreements on Carbon Credits Collaboration with Peru, Chile and Paraguay, its first such agreements in Latin America.

Foo also pointed to Latin America's fintech sector, home to more than 3,000 companies that attracted nearly $3.8b (US$3b) in venture capital in 2024. Singapore's Shopee, which entered Brazil in 2019, now connects more than 3 million Brazilian sellers to consumers nationwide.

Underpinning this push, trade in goods between Singapore and Latin America has more than doubled over the past five years to over $35b in 2025, whilst services trade has nearly doubled to over $21b in 2024.

The MERCOSUR-Singapore Free Trade Agreement (MCSFTA), the first FTA between MERCOSUR and a Southeast Asian country, entered into force for Singapore and Paraguay in February, followed by Uruguay in March and Brazil in August.

Argentina will bring the agreement into force in November, meaning the MCSFTA will be fully in effect across Singapore and all four MERCOSUR founding members from 1 November.

Reaching the people who run Asia's businesses is harder than it used to be.

Inboxes are crowded. Attention is short. The executives you most want to reach — the founders, CFOs, and operators who actually move budgets — are the hardest to find through the usual channels. If you're building a company, a category, or a reputation, you already know this.

We've spent twenty years building the room they read. Singapore Business Review is where senior decision makers in Singapore and across Southeast Asia come for business coverage they can't get elsewhere — in print, online, and in person at the summits and roundtables we host across seven markets.

If you have something these readers should know about — a point of view worth publishing, a product worth their attention, an event worth their time — we'd like to hear what you're trying to do.

Book a meeting

| Or download the media kit (PDF)

240,000 senior readers quarterly in print Top 1,700 Singapore companies reached

7 markets across Southeast Asia