The Costa Rican Congress approved on its first reading a Free Trade Agreement which makes 71% of the market for goods and services in Colombia duty free.
On Monday, the Legislative Assembly of Costa Rica approved on its first reading the Free Trade Agreement with Colombia. The entry into force of this trade agreement is needed in order to allow the Central American nation to join the Pacific Alliance.
Exporters of dehydrated ethanol claim that the U.S. is applying an ad valorem tax of 2.5% which is outside of the provisions of DR-CAFTA.
According to Anabel González, the Minister of Foreign Trade (Comex), Costa Rica has not exported the product during the second half of 2013, because the annual quota for receiving the benefits is 31 million gallons.
The country has invoked the dispute settlement mechanism of the CAFTA-DR, over alleged violation by El Salvador of the tariff reduction program.
From a press release issued by the Ministry of Foreign Trade of Costa Rica (COMEX):
The Ministry of Foreign Trade has requested the consultations mechanism against El Salvador, under the dispute settlement process of the Free Trade Agreement between Central America, the Dominican Republic and the United States of America (CAFTA), after a refusal, on the part of Salvadoran authorities to implement the tariff reduction program outlined in the aforementioned treaty on the import of products originating in Costa Rica.
The Trade Policy Committee of the Council of the European Union has recommended the entry into force of the agreement with Costa Rica on 1st of October.
From a press release by the Ministry of Foreign Trade (Comex):
The Trade Policy Committee of the Council of the European Union, composed of the appropriate Ministries of the Member States agreed today to recommend the entry into force for Costa Rica of the Association Agreement between Central America and the European Union (CAAA). The decision is an important step towards achieving the enforcement of this agreement from October 1.
The Costa Rican Congress has finally approved the Association Agreement between Central America and the European Union, which will take effect on August 1.
From a press release issued by the Ministry of Foreign Trade of Costa Rica (COMEX):
The Legislature has approved on its second reading the Association Agreement between Central America and the European Union (CAAA), which seeks to boost trade relations between Central America and the old continent, by improving the business climate, creating new opportunities for trade, investment and employment and strengthening institutions in the region.
Starting from July 1 the trade agreement with Mexico, a country with which trade reaches $10 billion per year, came into effect.
The agreement "strengthens the recognition of an extended economic zone where Central America can put more products under a single origin and continue complementing each other in the production of goods and services for export to Mexico," said Anabel Gonzalez, Costa Rican Foreign Trade Minister.
The agreement adds a legal framework for business with Switzerland, Norway, Iceland and Liechtenstein, countries which have average per capita GDP of $47,800.
From a press release from the Ministry of Foreign Trade of Costa Rica (COMEX):
This morning the Minister of Foreign Trade, Anabel Gonzalez and her counterparts from Panama, Ricardo Quijano, Norway, Trond Giske, Switzerland, Johann Schneider, Iceland, Gunnar Bragi Sveinsson and Liechtenstein, Aurelia Frick signed a Free Trade Agreement negotiated with the European Free Trade Association (EFTA), with which it consolidates its business relationship with the European continent.