Although exports have tripled in the last three years, mainly because of increased sales of medical equipment, sugar, ethyl alcohol and meat, the business sector's expectations are not as optimistic.
Data from the Foreign Trade Promoter (Procomer) specify that in 2016 Costa Rican exports to China totaled $46 million, in 2017 registered $111 million, and in 2018 rose to $200 million.
From September 6 to 9, about 50 businessmen from China will be meeting with Guatemalan industrial companies to explore business opportunities.
The business conference is being organized by the China - Guatemala Chamber of Cooperation, and will be held in the Industry Park, in zone 9 of Guatemala City.
Pedro Barnoya, vice president of the Chamber, explained to Prensalibre.com that "...
In the last five years, exports to the Asian country grew by 22%, led by products such as sugar, confectionery, coffee, tea and spices.
With the aim of creating a better investment climate between both countries and increasing the possibilities of exporting Guatemalan goods and services, the exporters' association signed an agreement with the Central American Trade Office of Taiwan to develop new businesses based on three aspects: Technical cooperation, trade promotion and exchange of information between the two institutions.
The new site will operate in Seoul on the same premises currently occupied by the Embassy of Costa Rica in China.
From a statement issued by PROCOMER:
Seoul, Korea, October 13, 2016.With an eye to opening up new business opportunities for domestic exporters, the Foreign Trade Promotion Office of Costa Rica (PROCOMER) inaugurated on Thursday a new office in the capital city of Korea, Seoul.With this new sales representation in addition to the existing ones, there are 41 offices around the world which continue to support the efforts of Costa Rican internationalization.
From December 2016 the Asian country will prevent the entry of agricultural products containing any residues of agrochemicals.
From a statement issued by the State Phytosanitary Service in Costa Rica:
SFE authorities have communicated to exporters of unprocessed plant products destined for Korea, that this nation has established a new legislation on Maximum Residue Limits (MRLs) of pesticides.
Opportunities in the Arab country have been announced for chutneys, organic coffee, pastries, organic tuna, dried fruits, plants, flowers and foliage.
The Foreign Trade Promotion Office (PROCOMER) has opened a trade promotion office in Qatar. Alvaro Stone, director of Exports at the office, informed Nacion.com that an official has been based in the premises of the Embassy of Costa Rica in that country since late last year.
High potential for online shopping in China has brought up opportunities for segments such as bathing suits, where 60% are imported products.
From a statement issued by PROCOMER:
Japan is one of the main entry points to the Asian region and is also a fashion leader, an industry worth approximately $110,000 million. According to a report by ProColombia, Japan imports more than 60% of its swimsuits and it was also found that consumers pay higher prices for these products, making it an attractive market to service.
The arrival of the first ships with capacity of 13 TEUs at the Panamanian port of Balboa is evidence of how shipping services are changing, a prelude to the opening of the expanded Canal.
Trips taken by cargo bound for East Asia with two major shipping companies in the world, Maersk Line and MSC, will be shorter, thanks to the port at Balboa now being able to manage ships carrying over 13,000 TEUs's, a capacity which is close to the amount carried by ships which will pass through the expanded Canal.
Food manufacturers have a period of three years to comply with the rule requiring the elimination of artificial saturated fats from processed foods.
From a statement issued by the Embassy of Taiwan in Guatemala:
The Food and Administration (FDA) reported on 7 August that following the latest changes in the United States eliminating artificial saturated fats in processed foods, food manufacturers will be given a period of three years to comply with the standard and eliminate these substances from their products.
Creating collection and distribution centers for exporting Costa Rican products is one of the proposals put forward to take advantage of the commercial potential of China.
Having special centers that receive and distribute goods from there to different areas of China's export sector would allow Costa Rica to better take advantage of business opportunities in the Asian giant.
The increase in sales of fruit, mostly to Asia, has been attributed to a combination of an increase in the export volume and a price hike.
From a statement issued by the Costa Rican Foreign Trade Promotion Office (Procomer):
The Davao region has recorded a total of $356 million in banana exports in the second quarter of this year, an increase of over 50% compared to the same period last year, when $237 million was generated, according data released by the Philippine Statistics Authority (PSA) in Davao.
Processed foods, fuels, pharmaceuticals and chemicals are some of the nontraditional exports which grew by 7% in the first nine months of the year compared with the same period in 2013.
From a statement issued by the Guatemalan Exporters Association (Agexport):
In September 2014, Guatemala's total exports reported an increase of 7% compared to the same date in 2013.
Wood, seafood, coffee and frozen vegetables are some of the products already going to Asia and the aim is to promote the opening of a sales office in Hong Kong.
According to Guatemalan authorities, the main import partner is China and in exports it is Japan. In 2013 exports to Asia generated $897.7 million, however, this figure is expected to be greater by the end of 2014, as Asian demand has increased.
Sugar, coffee, fishmeal, plastics and paper products are the best selling products to the Asian island.
According to the Taiwanese Embassy in El Salvador during the first 11 months of 2013, exports from the Central American nation to Asian countries grew by 576 %. Among the products that are exported to Taiwan are sugar, coffee, fish meal, paper, cardboard, plastics.
Products entering the South Korean market must apply for certification from the Health Authority of that country.
From the 1st of January the Asian nation has required that imported organic products have a certificate, which must be requested from the Sanitary Authority of Korea (QIA) .
From an article by the Costa Rican Foreign Trade Promotion Office (PROCOMER) :