Costa Rica Approves FTAs with Singapore and Mexico
The Legislature has approved on the first reading the FTA with Singapore and the modernization of the Free Trade Agreement with Mexico.
Wednesday, January 2, 2013
A statement from the Foreign Trade Ministry (COMEX) reads:
On 21 December last year the Legislature approved, on first reading, the FTA with Singapore and the modernization of the Free Trade Agreement with Mexico.
Foreign Trade Minister Anabel González, recognized the work of the deputies and described this as an important step to strengthening and expanding the Costa Rican foreign commerce platform. "We recognize the feedback from this afternoon as a boost to link Costa Rica with the global economy. Both treaties represent benefits for the country in different areas. Singapore is a service-based economy, which opens up opportunities for various Costa Rican companies and represents a window for cooperation on technological development, research and exchange of information. With Mexico we are conducting a convergence process in order for the treaty to respond to current trade and production conditions", said Minister Gonzalez.
Singapore has a highly complementary business profile with the Costa Rican economy, it is an importer, providing great opportunities for Costa Rican companies. Additionally, this treaty promotes strategic alliances for the development of products, processes and services. Trade between Costa Rica and Singapore for the past 10 years has been characterized by its dynamic behavior. In 2000, trade totaled $50.6 million, while in 2011 it was $69.7 million, the second highest value of the period.
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The trade agreement will bring one of the most dynamic economies in the world, which has a per capita GDP close to $51,000, closer to the Costa Rican economy.
From a press release by the Ministry of Foreign Trade of Costa Rica (COMEX):
Monday, July 1, will see the entry into force of the Free Trade Agreement (FTA) between Costa Rica and Singapore, which brings the Costa Rican economy closer to one of the largest in the world. With a population similar to that of Costa Rica, Singapore has one of the highest per capita GDPs, around $51,000.
Meat, heart of palm, palm oil, chocolate and cocoa products, and tea produced in Costa Rica, will have preferential access to the Peruvian market.
From a statement by the Ministry of Foreign Trade:
Legislature Passes FTA with Peru
San Jose, April 22, 2013. This afternoon the Legislative Assembly approved, on its second reading, the Free Trade Agreement between Costa Rica and Peru.
With the approval of the FTA between the two countries, all exportable Costa Rican products will enter Singapore completely duty free.
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.
The first countries to enforce this Unified Agreement will be El Salvador, Nicaragua and Mexico and the other countries of the region are still in the process of ratification with the Legislature.
A press release from the Ministry of Economy of El Salvador (Minec) reads:
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