Singapore, April 5, 2025: Costa Rica’s Foreign Trade Minister Manuel Tovar Rivera (above) was in Singapore for three days to deepen bilateral trade ties and discuss mutual opportunities in technology, agriculture and multilateral cooperation.
During his visit, Mr Tovar met Singapore Deputy Prime Minister and Minister for Trade and Industry Gan Kim Yong, reaffirming both countries’ commitment to open trade and a rules-based multilateral system.
At the heart of Mr Tovar’s visit is Costa Rica’s formal accession to the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), which received unanimous support from member nations in December 2024.
“I’m here to thank Singapore for supporting our accession and to express our desire to advance this process smoothly,” he said.
The minister also extended a personal invitation for Singapore to attend the OECD Ministerial Meeting in June 2025, which Costa Rica will chair for the first time since becoming the newest OECD member.
“We want to bridge regions — Asia, Europe and the Americas — and foster dialogue in a divided world,” he said.
Focus on Medical Devices, Semiconductors and Agriculture
Mr Tovar identified medical devices, precision manufacturing and semiconductors as key areas of synergy between the two nations.
“About 43% of Costa Rica’s exports in goods are medical devices,” he said, noting the country’s evolution from agricultural exports to advanced manufacturing. “We see scope for cooperation, not competition, with Singapore’s robust semiconductor ecosystem.”
Costa Rica also aims to increase food exports to Singapore, especially coffee, beef and pork, pending sanitary protocol approvals. Mr Tovar pointed to Costa Rica’s “pink pineapple” as an example of agricultural innovation and value addition.
On US Tariffs and the Importance of Diversification
Mr Tovar’s visit comes in the wake of recent United States announcements of broad import tariffs, including on Costa Rica.
While Costa Rica faces a 10% tariff rate — lower than others — Mr Tovar underscored the need for diversified markets. “Trade disruptions from tariffs, conflicts or pandemics remind us why we must strengthen ties with Asia,” he said.
Though critical of tariffs, the minister struck a conciliatory tone. “We’re an open economy. We’ve grown through free trade and FDI. We remain hopeful for dialogue with the US to address these issues under our existing bilateral frameworks.”
Mixed Results With China, Optimism About Asia
Mr Tovar acknowledged challenges in trade with China, including limited investment and market access issues for Costa Rican exports. “We find it difficult to get sanitary approvals to export agricultural products to China,” he said. However, he praised Costa Rica’s strong trade ties with Singapore, South Korea and Japan.
Distance No Barrier to Trade
While Costa Rica and Singapore are geographically distant, Mr Tovar said logistical challenges can be overcome. “We already trade with Asia. We must find smarter routes and logistical solutions,” he said.
Strong US Partnership, Regardless of Administration
Mr Tovar reaffirmed Costa Rica’s strong alliance with the US, irrespective of who is in the White House. “Nearly half of our exports go to the US and 75% of FDI is from there,” he said.
On questions about US President Donald Trump’s past comments on smaller nations, Mr Tovar dismissed any concern, calling Costa Rica a “trusted partner” that punches above its weight.
Tourism Pitch to Singaporeans
Inviting Singaporeans to Costa Rica, Mr Tovar highlighted ecotourism as a standout offering. “We pioneered ecotourism. We offer volcanoes, beaches, rainforests, and warm hospitality — a contrast to the urban vibrancy of Singapore. Together, we offer a full spectrum of travel experiences,” he said.
Mr Tovar’s visit signals a deepening of Costa Rica’s engagement with Asia and reflects the country’s strategic pivot to strengthen global partnerships in a time of geopolitical uncertainty.
