Singapore has signed a free trade agreement to strengthen links with the Pacific Alliance, allowing businesses to have more opportunities to collaborate with Latin America in areas such as technology and innovation. The trade bloc includes Chile, Colombia, Mexico and Peru. Collectively, it is the world's eighth largest economy. The Pacific Alliance has a combined GDP of over $2.6 trillion. Prime Minister Lee Hsien Loong called the signing a landmark moment as Singapore becomes the first associate state of the Pacific Alliance.
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