Costa Rica: Study Recommends Negotiating FTA with Korea

An analysis of the production and export structure of both countries reveals complementarities between economies, ideal conditions for a trade negotiation.

Wednesday, August 17, 2011

COMEX Director General, Federico Valerio, presented the results of the study during a seminar on "Diversifying in Asia: an approach to South Korea, the largest Asian tiger", organized by the Foreign Trade Corporation. During the exhibition, he explained that while the Korean export supply is concentrated in industrial goods such as petroleum oils, machinery, vehicles and high technology products, the Costa Rican economy has great potential in agricultural products such as coffee, pineapples, plants and food preparations.

"Without question, a treaty with Korea would be an important step for our country. It would allow us to continue working on expanding and strengthening our trade platform, thereby strengthening the efforts we have been making in the Asian market. However, while Korea is setting the timetable for negotiations, we will use this time to start generating studies that will allow our manufacturing sector to learn about this market", said the Director General.

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