Pacific Alliance - Singapore Free Trade Agreement enters into force for Singapore, Chile, and Peru

28 May 2025

On 5 May 2025, the Ministry of Trade and Industry (“MTI”) announced that the Pacific Alliance - Singapore Free Trade Agreement (“PASFTA”), Singapore’s 28th free trade agreement (“FTA”), entered into force on 3 May 2025 for Singapore, Chile, and Peru. 

The Pacific Alliance is a Latin American trade bloc comprising Chile, Colombia, Mexico and Peru and represents the ninth largest economy in the world. The PASFTA was signed on 26 January 2022 with Singapore and Peru ratifying it in July 2022 and February 2023 respectively and Chile following suit in March 2025, bringing it in force for these three countries. The PASFTA will come into effect for the remaining parties, Colombia and Mexico, upon their ratification. 

The MTI press release on the PASFTA coming into force for Singapore notes that 100 Singapore companies are operating across Pacific Alliance markets. Singapore is also FTA partners with Chile and Mexico through the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (“CPTPP”), and with Peru through the CPTPP and the bilateral Peru-Singapore FTA. 

Reference materials 

The MTI press release is available on its website www.mti.gov.sg.