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SINGAPORE, December 12 (The Straits Times / ANN): Singapore plans to sign a free trade agreement next year with the Pacific Alliance, which is made up of Chile, Colombia, Mexico and Peru, after making important progress in the same .
After three years of negotiations, the Pacific Alliance-Singapore Free Trade Agreement (PASFTA) has reached a “substantial conclusion,” Prime Minister Lee Hsien Loong’s press secretary Chang Li Lin said in a statement. Friday night (December 11).
PM Lee attended the Pacific Alliance Summit for the first time on Friday, via video conference.
The president of Chile, Sebastián Piñera, was the host of the XV Summit of the Pacific Alliance. In addition to Prime Minister Lee, the president of Colombia, Iván Duque, the president of Mexico, Andrés Manuel López Obrador, and the president of Peru, Francisco Sagasti, attended the event.
Singapore, Chile, Mexico and Peru are also part of another free trade agreement, the Comprehensive and Progressive Agreement of Trans-Pacific Partnership.
The Summit of the Pacific Alliance is held annually among the member states Chile, Colombia, Mexico and Peru.
“The Free Trade Agreement of the Pacific Alliance and Singapore will allow greater access, trade flows and opportunities for our companies and our people. I am encouraged that we have substantially concluded the negotiations on this important Agreement, “said the Minister of Commerce and Industry, Chan Chun Sing, in a statement issued by the ministry.” It marks a new chapter in Singapore’s relations with members of the Pacific Alliance and will be a pioneer for deeper cooperation and engagement for our countries and our respective regions. “
The Latin American trade bloc constitutes the eighth largest economy in the world.
In 2019, Singapore’s total goods trade with the Pacific Alliance was S $ 6.1 billion, which represented 33.2% of our total goods trade with Latin America. Singapore has been invited to the summit as an Associate State Candidate of the Pacific Alliance.
Chang said progress on PASFTA is good news, especially as many economies are facing the challenges posed by Covid-19.
“Strengthening economic ties between Singapore and the Pacific Alliance across the Pacific Ocean will boost trade and investment, provide greater opportunities for our businesses, and strengthen people-to-people ties between our two regions. We look forward to the signing of the PASFTA on next year. and deepening economic ties, “said Chang.
The 8 imported cases detected on Saturday were placed on stay-at-home notices or isolated upon arrival in Singapore. – The Straits Times / Asian News Network
Meanwhile, there were eight new confirmed coronavirus cases as of noon on Saturday (December 12), bringing Singapore’s total to 58,313.
All were imported cases that had been placed on a stay-at-home notice (SHN) or isolated upon arrival in Singapore, the Ministry of Health (MOH) said.
On Friday, the Health Ministry announced that as of Monday, all travelers entering Singapore with travel history to Hong Kong in the previous two weeks must attend a 14-day SHN in dedicated facilities.
But they are allowed to choose not to deliver the notice in specialized facilities if they occupy their place of residence alone or with household members with the same travel history and duration as SHN.
They also must not have traveled anywhere else in the past two weeks except Fiji, South Korea, Sri Lanka, Thailand, Hong Kong, Australia, Brunei, Macau, China, New Zealand, Taiwan, and Vietnam.
The new requirement is more stringent than the current one, in which travelers from Hong Kong are allowed to attend a seven-day SHN at their place of residence.
The new restriction takes effect at 11:59 pm on Sunday, the Health Ministry said. – The Straits Times / Asian News Network
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