Costa Rica News

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Costa Rica, Singapore start trade talks

2008 The Associated Press
Dec. 2, 2008, 11:07AM

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SAN JOSE, Costa Rica — Costa Rican President Oscar Arias is in Singapore to start talks on a bilateral free trade agreement.

The accord will cover investment, services, telecommunications and tourism, among other areas.

Arias has long lobbied for greater economic ties with Asia. He hopes the trade accord will encourage Singapore to invest in and develop Costa Rica's Caribbean ports.

The president on Tuesday met with Singapore's prime minister, Lee Hsien Loong.

Singapore has trade agreements with Chile, Peru and Panama.

Costa Rican exports to Singapore totaled $31.5 million and imports reached $26.4 million in 2007.