Peru
Singapore and Peru share longstanding and robust economic relations. We are connected through the Peru-Singapore Free Trade Agreement (PeSFTA), the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) and the Pacific Alliance-Singapore Free Trade Agreement (PASFTA).
Last updated on 12 November 2026
Singapore-Peru Economic Relations
Then-Minister of State for Energy, Trade and Industry, Alvin Tan, with Peru's then-Minister of Foreign Trade and Tourism, Teresa Mera Gómez.
Singapore's economic linkages with Peru are underpinned by cooperation in agri-food and carbon credits collaboration. The memorandum of understanding between Singapore Cooperation Enterprise and the Peruvian Agency for International Cooperation signed in December 2020 have reaffirmed Singapore and Peru’s commitment to cooperation in digital governance, public administration, sustainability, as well as public sector governance.
Singapore and Peru are connected through the Peru-Singapore Free Trade Agreement (PeSFTA), the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) and the Pacific Alliance-Singapore Free Trade Agreement (PASFTA). These platforms deepen our economic engagement with Peru, give companies greater access to each other’s markets, and pave the way for further areas of bilateral cooperation.
Bilateral Agreements involving Peru
Peru-Singapore FTA (PeSFTA)
The PeSFTA entered into force in August 2009, and is the first FTA between Peru and an Asian country.
Singapore-Peru Implementation Agreement (IA) on carbon credits cooperation
Singapore and Peru signed an Implementation Agreement on carbon credits cooperation on 31 March 2025.
Plurilateral Agreements involving Peru
Pacific Alliance-Singapore Free Trade Agreement (PASFTA)
The Pacific Alliance comprises of Chile, Colombia, Mexico and Peru. The PASFTA entered into force between Singapore, Chile and Peru in May 2025. It is currently pending Colombia and Mexico’s ratification.
Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP)
The CPTPP Agreement contains commitments aimed at easing and growing trade and investment among its members. This includes eliminating tariffs on 94 to 99% of trade in goods, reducing non-tariff barriers, easing services and investment regulations, and establishing digital trade rules, among others. The CPTPP members collectively represent approximately 15% of global GDP.
International Platforms involving Peru
Asia-Pacific Economic Cooperation (APEC)
The Asia-Pacific Economic Cooperation (APEC) forum comprises 21 Asia-Pacific economies. It was established in 1989 in response to the growing interdependence among Asia-Pacific economies and the advent of regional trade blocs in other parts of the world. Its primary purpose is to promote economic growth and prosperity in the Asia-Pacific region. Singapore was a founding member alongside 11 other economies.
Future of Investment and Trade (FIT) Partnership
The FIT Partnership is a grouping of 20 small and medium-sized, trade-dependent countries located across different regions and geographies that seeks to advocate for open, predictable, rules-based and fair trade, enhance investment flows, and facilitate collaborative solutions which are vital to their prosperity and growth.