Costa Rica gets second extension on CAFTA
Costa Rica received a new indefinite extension to fully approve all the requirements of the FTA with the United States (CAFTA).
Thursday, September 25, 2008
Yesterday in New York, the presidents of the countries which have signed the agreement endorsed the procedure with which the Legislative Assembly will amend the last project of the implementation agenda and granted a new extension on the term which was set to expire next Tuesday.
The US and other FTA partners granted 3 months more so that Costa Rica can complete the approval of the projects and regulations needed in order to bring the trade agreement into force.
To speed up its approval, the Executive removed the agrochemical chapter from the last law project of the FTA agenda.
Costa will ask the United States this week for an extension without a deadline to approve the last law required for CAFTA to come into force.
The Legislative Assembly ratified the last bill pending to implement the Free Trade Agreement with the U.S. and Central America.
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