The Chamber of Deputies approved this Wednesday the Free Trade Agreement between Mercosur and Singapore, with 234 votes in favor, 4 against, and no abstentions, thus Argentina completed the parliamentary approval process of the treaty.
The initiative had already received unanimous support from the Senate in May, where it obtained 65 votes in favor, and is now definitively sanctioned by Congress. The agreement represents the first trade agreement reached by Mercosur with a Southeast Asian country and constitutes a new advance in the strategy of economic opening and international insertion promoted by the Government of Javier Milei.
The results of the vote on the agreement
One of the main points of the agreement is the reduction of barriers for exports. According to officials, 100% of Argentine products will be able to access the Singapore market with zero tariffs, an economy whose GDP per capita exceeds USD 90,000.
The presidential spokesperson Adrian Ravier celebrated the approval and stated that the treaty will generate “more markets, more opportunities, and more growth for Argentina”.
The post from the presidential spokesperson on their X account.
In addition to the trade of goods, the agreement includes provisions on services, investments, public procurement, intellectual property, e-commerce, and small and medium-sized enterprises, incorporating rules aimed at providing greater predictability to operations between both markets.
Singapore occupies a strategic position as one of the main financial, commercial, and logistical centers of the Asia-Pacific. For this reason, the agreement not only seeks to increase direct sales to that country but also to facilitate greater integration of Mercosur companies with Asian trade chains.
Uruguay and Paraguay had already completed their respective internal procedures, but Argentina still owed the support of the legislative power.
The post by Argentine Chancellor Pablo Quirno celebrating the support for the agreement
The sanction thus adds to the agenda of international agreements that Argentina has been accelerating during Milei's administration, with the aim of expanding export destinations, promoting the arrival of investments, and reducing barriers to foreign trade.
With the approval of the Deputies, Argentina completes a new step towards greater commercial integration with Asia and consolidates an economic policy aimed at opening markets for national production.
