On September 18, 2025, the economic ties between Paraguay and Singapore were strengthened through the enactment of the Mercosur-Singapore agreement, which was signed on October 7, 2023. The 19 chapters of the agreement concentrate on sectors such as trade, services, sanitation, phyto and zoosanitary measures, intellectual property, and the promotion of economic development.
The enactment of this agreement has created a framework of greater legal certainty, stimulating the trade flow between the two parties.
Regarding bilateral trade, the yearly analysis of the average in the years 2021-2024 shows that Singapore still maintains the 8th place in exports and 9th in imports of Paraguay, and takes up to 3% of the total trade of Paraguay with the Asia Pacific, while China (64.7%) and India (9.6%) accounted for the largest share.
