Brazil approves multiple trade agreements with Mercosur and fully eliminates export tariffs.

Brazil has approved another trade agreement. The Brazilian government issued a statement stating that Brazil approved a free trade agreement between the Southern Common Market and Singapore on June 30, marking the first agreement reached between the group and a Southeast Asian country. The statement pointed out that the agreement ensures that Brazil will have zero tariffs on 100% of its exports to Singapore and will officially take effect on August 1st.