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Singapore, Costa Rica Hold Free Trade Talks
Singapore and Costa Rica held the first
round of negotiations for a Free Trade
Agreement (FTA) from April 20 to 22, 2009 in
Singapore. This was launched earlier on the
sidelines of the official visit to Singapore
by Costa Rican President Oscar Arias Sanchez
from 1 to 4 December 2008.
One of the things discussed during the
negotiations was the setting up of a general
framework to look at measures that will
liberalize trade in goods and services as
well as the investment regime.
Both are also looking into simplifying
customs procedures. The negotiations also
touched on cooperation in the protection of
sanitary and phytosanitary measures and
technical barriers to trade, along with
other general provisions.
The two countries both believe that the FTA
will lay a strong foundation for future
cooperation in other areas of mutual
interest.
The FTA, when concluded, will strengthen the
trade and investment relations between the
two countries.
Negotiators from both sides expect to meet
in the third quarter of this year for the
next round of negotiations in Costa Rica.
Singapore, a small, trade-dependent nation,
has signed FTAs with various trading
partners, including the U.S., Japan and
Peru.
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