The Minister for Foreign Affairs and Minister for Law of Singapore, K Shanmugam, will visit Brazil on April 3-6, 2013. On April 5, in Brasilia, he will be hosted by the Minister of External Relations, Antonio de Aguiar Patriota.
At the meeting, a Memorandum of Understanding establishing a political consultation mechanism between the two countries will be signed. Minister K Shanmugam will also participate in the official opening of the resident Embassy of Singapore in Brasília, the country's only one in Latin America.
Singapore is one of the leading countries in deep water oil drilling technology and holds significant investments in Brazil in this sector and in others, such as shipbuilding.
In 2012, bilateral trade reached US$ 3.8 billion, an increase of 5.3% over the previous year. Brazil's trade surplus with Singapore in 2012 was US$ 2.1 billion, representing over 10% of the overall Brazilian surplus (US$ 19.4 billion).