A study by the Foreign Trade Promotion Office reveals opportunities emerging for the sector with the eventual signing of an FTA with South Korea.
"Korean imports of bovine meat in boneless cuts increased by 7.8% between 2008 and 2010, those for unroasted coffee by 12.2%, 22.2% for roasted coffee, sugar cane by 27, 2%, pasta by 3.3% and 14.4% for food preparations", published Elfinancierocr.com.
An analysis of the production and export structure of both countries reveals complementarities between economies, ideal conditions for a trade negotiation.
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.
By the middle of 2011 both countries plan to start negotiations.
The Minister of Foreign Trade of Costa Rica, Anabel Gonzalez, said that during her visit to South Korea discussions on details to start negotiating next year will be addressed.
"The goal is for the negotiating process to move forward, according to Gonzalez, so to sign the trade agreement in 2012 year in which 50 years of diplomatic relations with South Korea are celebrated," said La Prensa Libre on its website.