InfoAnda - S’pore, Costa Rica to start talks on Free Trade Agreement

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Navigation Primary Navigation Home Singapore Asia Pacific World Business Entertainment Sports Technology Top Stories Most Popular Secondary Navigation Government Education Search Search: S’pore, Costa Rica to start talks on Free Trade Agreement Channel NewsAsia - Wednesday, December 3 SINGAPORE: Singapore and Costa Rica will start negotiations for a Free Trade Agreement (FTA). Prime Minister Lee Hsien Loong revealed this at a lunch on Tuesday for visiting Costa Rican President Oscar Arias Sanchez. Mr Lee said once concluded, the FTA would pave the way for closer economic links between Singapore and Costa Rica. It is also a signal of the countries’ commitment to free trade, even in the midst of an economic downturn. Mr Lee said: "We will need all our wits and resources to meet the challenges brought about by the global economic crisis. An unprecedented storm is sweeping the world, affecting the economies of both developed and developing countries. Neither of our countries can avoid the fallout. “But if we persevere with policies that help our economies to adjust to the new environment, and build capabilities for the longer term, we can pull through and emerge stronger from the crisis." Mr Lee said Singapore enjoys good networks in Asia and is interested to strengthen relationships with Latin America. Costa Rica has also stepped up efforts to diversify its links, and has turned its attention on Asia Pacific. Mr Lee hopes Mr Sanchez’s meeting with Singapore’s business community will encourage more companies to invest in Costa Rica. Similarly, Singapore welcomes Costa Rican companies to use it as a gateway to the Asia Pacific. With Singapore’s strategic location, favourable business climate and extensive knowledge of the region, Costa Rican companies can forge meaningful business links in Asia through Singapore. Mr Lee said: "Costa Rica and Singapore share similar economic outlooks. We both support free trade and open markets as the way to continued growth and development. “In this crisis, when the temptation is for countries to take protectionist measures in a misguided attempt to protect jobs, it is important that we take a strong stand in support of trade liberalisation." — CNA/yt Email Story IM Story Printable View Blog This Recommend this article Average (0 votes) Sign in to recommend this article » Most Recommended Stories » Related Articles: Singapore MM Lee meets China’s foreign minister in HKChannel NewsAsia - 36 minutes ago Singapore's Koh Brothers wins $381 mln contractReuters - 49 minutes ago All local hotels issued alert after Mumbai attacksChannel NewsAsia - 54 minutes ago Council recommends lifting ban on party political films in phasesChannel NewsAsia - 1 hour 6 minutes ago Lee Tat wins legal battle against Grange Heights residentsChannel NewsAsia - 1 hour 21 minutes ago Enlarge Photo S’pore, Costa Rica to start talks on Free Trade Agreement Most Popular – Singapore Viewed Wall Street plunges as recession becomes reality World AIDS Day highlights big challenges 20 years on Love handles increase death risk: study Saudi king says 75 dollar oil price 'fair' World's oldest person dies at 115 years View Complete List » Search: Home Singapore Asia Pacific World Business Entertainment Sports Technology Top Stories Most Popular

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