Legislative Ratification of the Costa Rica - Singapore FTA

With the approval of the FTA between the two countries, all exportable Costa Rican products will enter Singapore completely duty free.

Tuesday, March 5, 2013

From a press release issued by the Legislative Assembly of Costa Rica:

From now on domestic products will enter the market in Singapore duty free, after 39 out of 44 members present approved on its second reading the Free Trade Agreement between Costa Rica and this Asian nation.

According to the president of the International Relations Committee, Jeannette Ruiz Delgado: "Singapore is a very small nation, and therefore most of its food is imported, which opens up a lot of opportunities for various Costa Rican companies to place their products there and its economy is based on services, representing a window of opportunity for technological cooperation, research and exchange of information. "

According to data provided by the Ministry of Foreign Trade at the hearing in Congress, trade exchange showed dynamic behavior, going from $50.6 million in 2010 to $69.7 million in 2011.

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