An agreement between business associations aims to improve the exchange of trade and investment between the two countries.
From a statement issued by the Association of Industrialists in Puerto Rico (AIPR):
The Association of Industrialists of Puerto Rico (AIPR) and the Costa Rica-Puerto Rico Chamber of Commerce (CCCR-PR) have established a mutual cooperation agreement with the aim of promoting trade, investment, trade and other cooperation economic benefits for their respective members and economic development in both countries, said Carlos Rivera Velez, president of the AIPR.
Panama's fortunate geographic location has piqued the interest of Puerto Rico, which is interested in local ports.
Fernando Bonilla, Secretary of State and executive director of the Port Authority of Puerto Rico, said the situation is ideal for an alliance between the two entities to develop business for merchandise moving throughout the Caribbean region.
The union of pineapple growers in Puerto Rico is demanding a ban on imports of pineapple seed from Costa Rica, arguing that it could be affected by fungus.
According to pineapple producers in Puerto Rico, pineapple seeds from Costa Rica could have fungi which could affect plantations locally."...If one or more of these pests arrive in Puerto Rico it would involve significant economic damage to pineapples producers, since there are no products to combat it registered on the island."
Small producers have started exporting taro, cassava, quiquisque and ginger to the Caribbean island, which buys from Nicaragua some $45 million worth of products per year.
"We made a projection of sales to Puerto Rico of 9.3 million dollars per year and demand will be at least three containers a week," said Nazario Mejia, president of the cooperative Tierra Buena, New Segovia (north), which has already made the first shipment.
From 21 to 23 August, representatives from sectors such as cosmetics, oils, manufacturing, engineering design, electronics and food from Puerto Rico will be seeking new partners.
About 150 business appointments with thirteen Puerto Rican companies have already been set up and will be held at the Crowne Plaza in La Sabana. On the part of Costa Rica 80 employers will be participating.
The Solid - Lapco Group will invest in a new paint plant to supply the market in Mexico, Peru, Colombia, Dominican Republic and Puerto Rico.
The 4D multi-annual expansion plan is betting on the consolidation of regional leadership in all the segments of the paint market and the opening of new markets in southern Mexico, Peru, Colombia, Dominican Republic and Puerto Rico where they are analyzing mergers.
Sales of $50 million are expected and the event will include the participation of companies from Latin America and the Caribbean, including Panama and Costa Rica.
The 2012 edition of the ‘Expo-Alimentos ‘ (Food Expo), the premier food event in Puerto Rico and the Caribbean, will generate sales of about $50 million, said Horacio Figueroa, president of the company organizing the show to EFE.
Alexandre Hohagen, Google’s director for the region, made the announcement, adding that “we are analyzing this internally, to see which destination makes the most sense. I believe we will make our mind in a couple of weeks”.
Before July 2013 roots and tubers packaging plants must obtain health certification from the HACCP, in order to continue exporting to the U.S. and Puerto Rico.
The seven plants in Nueva Guinea, Nicaragua, together processed over 80% of the production of roots and tubers of the North (RAAN) and South (RAAS) Atlantic Autonomous Regions. 90% of this production is exported to the U.S. and Puerto Rico, so producers will need the certification required by these countries from July 2013.
With an investment of $1.1 billion it will connect to Brazil, Colombia, the United States, Guatemala, Mexico, Puerto Rico and the Dominican Republic.
The company announced that it has completed the installation of a submarine fiber optic cable which guarantee services. This project will connect Brazil, Colombia, the USA, Guatemala, Mexico, Puerto Rico and the Dominican Republic.
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