Singapore intends to participate in the Port of Santos concession, says Ambassador

The government of Singapore, a city-state in Southeast Asia, intends to participate in the concession process for the Port of Santos (SP). The announcement was made by the head of the Singaporean Diplomatic Mission in Brazil, Desmond Ng, in a meeting last Tuesday (1st.), with deputy Paulo Alexandre Barbosa (PSDB-SP), president of the Foreign Affairs and Defense Commission (CREDN) of the Chamber of Deputies.

Singapore has the second largest port in the world by volume, second only to the Port of Shanghai, China. “We are very interested in this process and believe that our expertise will be very valuable for Brazil, especially for the Port of Santos, the largest in Latin America”, said the diplomat.

Desmond Ng also revealed Singapore’s interest in concluding the free trade agreement negotiations with Mercosur, which began in 2018. In his assessment, “this agreement will make Singapore’s economic and trade relations with the region even denser. On the other hand, Singapore will function as a strategic hub for relations between Mercosur countries and Southeast Asia”, he highlighted.

“Mercosur negotiations with Singapore did not stop even during the pandemic. There is very little left to be completed and, we hope, they should be closed by the end of the year, when Brazil will hand over Mercosur command to Paraguay”, recalled Paulo Alexandre.

The deputy also assured that, “after the negotiations are concluded, we will prioritize their analysis, voting and approval”. Regarding Singapore’s participation in the Port of Santos concession, the deputy was optimistic.

“In November, we will be in Singapore with Brasil Export and we will see in loco the entire structure and functioning of the port. I also intend to have a bilateral agenda with the ministers of National Development and Transport, to align Singapore’s cooperation and investments in Brazil”, said the president of CREDN.

Market

Singapore is Brazil’s second largest trading partner in ASEAN, the 5th largest in Asia and the 20th largest partner overall. The country is also the fourth largest Asian investor in terms of flow into Brazil, behind only Japan, South Korea and China, with undertakings in the areas of shipbuilding and airports, in addition to equity participation in Brazilian companies in the areas of infrastructure, education and hospital services. In addition, around 50% of the animal protein imported by Singapore is Brazilian.

Brazilian Beef Exports to Singapore | Jan 2019 to Jun 2023 | TEUs

Source: DataLiner (click here to request a demo)

Source: Comex do Brasil

To read the full original report, visit: https://comexdobrasil.com/singapura-pretende-participar-da-concessao-do-porto-de-santos-diz-embaixador/

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