Singapore enjoys friendly relations with countries in Latin America and the Caribbean. Relations have expanded in recent years with regular exchanges of high-level visits and Singapore continues to share our development experience with Latin American and Caribbean countries through the Singapore Cooperation Programme (SCP).
Economic cooperation between Singapore and Latin America and the Caribbean is increasing steadily. Despite a slowdown in the global economy, Singapore's trade with Latin America and the Caribbean reached S$18.5 billion in 2019. Singapore has also concluded Free Trade Agreements with several Latin American countries: Costa Rica, Panama and Peru. Chile, Mexico and Peru are also members of the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP). We are currently negotiating Free Trade Agreements with two Latin American economic blocs: MERCOSUR which comprises Argentina, Brazil, Paraguay and Uruguay; and the Pacific Alliance which consists of Chile, Colombia, Peru and Mexico. Singapore’s engagement of Latin American and Caribbean countries has also expanded to other non-economic areas such as science and technology, and education.
We also participate in the Forum for East Asia-Latin America Cooperation (FEALAC) as a co-founding member.