Costa Rica Approves Agreement with United Kingdom

The Costa Rican National Assembly approved the Association Agreement between the United Kingdom of Great Britain and Central America, which protects commercial relations between both economies within the framework of the Brexit process.

Wednesday, October 30, 2019

Approval of the "Agreement Establishing an Association between the United Kingdom of Great Britain and Northern Ireland and Central America" was approved in the second debate, the Legislative Assembly reported last October 28.

See "BREXIT: Trade Agreement between Central America and the United Kingdom"

Dyalá Jiménez, Costa Rica's foreign trade minister told Elfinancierocr.com that "... With Brexit we need to make sure that trade flows are not going to be interrupted and that there is not going to be a great deal of uncertainty. For the last year we have been able to negotiate and work on an agreement that replaces the association agreement between Central America and the European Union."

For Kenneth Waugh, president of the British-Costa Rican Chamber of Commerce, if the legislative file had not been approved "... 'Costa Rican products destined for the United Kingdom would pass to the conditions of the World Trade Organization (WTO) with which they apply additional tariffs and this would make our products much more expensive'."

The ratification made by Costa Rica, adheres to those already made by the governments of Panama, Nicaragua and El Salvador. The other Central American countries are still working on the approval of the agreement with the United Kingdom.

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More on this topic

Guatemala Confirms Agreement with United Kingdom

November 2019

The Congress approved the Association Agreement between the United Kingdom and Central America, which aims to protect trade relations between the two economies within the framework of the Brexit process.

In the Ordinary Session held on November 27, Decree 11-2019 was approved, with which the Agreement establishing an Association between the United Kingdom of Great Britain and Northern Ireland and Central America is approved, informed the Congress.

Panama Confirms Agreement with United Kingdom

October 2019

The Panamanian National Assembly ratified the Association Agreement between the United Kingdom of Great Britain and Northern Ireland and Central America, which aims to safeguard trade relations for the Brexit process.

Project 154, which was approved on October 28, essentially preserves the rights acquired by both parties and does not change the set of rights and obligations acquired by the Republic of Panama.

Agreement with United Kingdom Against Time

August 2019

In order to guarantee the continuity of trade relations between Costa Rica and the European country, the agreement must still be approved by the Legislative Assembly and published in the Official Newsletter before October 31st.

In July, the agreement was signed and this guarantees Central American countries that with the departure of the United Kingdom from the European Union, there will be no legal vacuum and trade relations with that country will be interrupted and tariff preferences will be maintained, with all legal guarantees for Central American exporters to the United Kingdom.

BREXIT: Trade Agreement between Central America and the United Kingdom

July 2019

The signed association agreement "guarantees Central American countries that with the departure of the United Kingdom from the European Union, there will be no legal vacuum and trade relations with that country will be interrupted and tariff preferences will be maintained, with all legal guarantees for Central American exporters to the United Kingdom."

The government of Guatemala informed that Julio Dougherty, Vice-Minister of Integration and Foreign Trade, together with the Ministers of Economy and Foreign Trade of Central America and the United Kingdom Ambassador in Costa Rica, Ross Denny, signed in Managua the document that establishes the Association Agreement that constitutes the mechanism to attend the preferential commercial relations regulated with the United Kingdom through the Association Agreement between Central America (CA) and the European Union (AACUE), on the occasion of BREXIT.

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