Explained by better promotional efforts, the proportion of Costa Rican SMEs that export to Asian, South American and Caribbean countries continues to grow.
According to the Foreign Trade Promotion Office (Procomer), last year 86% of companies that sold goods in South America were SMEs, in the case of Asia the proportion reached 81% and for the Caribbean it was 80%.
The website for the "Business Intelligence System of the Association Agreement between Central America and the European Union" summarizes the regulatory framework, procedures, market information and other topics of interest to exporting SMEs.
The Ministry of Economy of El Salvador has put online a "Business Intelligence System of the Association Agreement between Central America and the European Union", a website which aims to present the content and the benefits of the Association Agreement in a format which is simple and accessible, so that Central American exporters and importers can receive this information and maximize opportunities.
Previously unthinkable export deals are now possible thanks to the soaring consumption levels of the Chinese.
An article by Amafredo Castellanos in Revistamyt.com reviews the success of Guatemala's Acuamaya, one of the largest shrimp companies in the region, which has already begun to export shrimp to China.
"... Selling seafood to China, or coffee, may sound like a joke.
Most of Costa Rica's traditional export markets are depressed, so exporters must find new ones.
During the first five months of 2013, exports of goods fell by 3%, unlike other years, such as 2011, when foreign sales reported an increase of 7.6%, and 2012, when the hike was 13.1%.
Sales to the U.S., Costa Rica's top export destination, with 38% of total exports, have been stagnant since October 2012.
The Inter-American Development Bank has launched a new version of the Intrade website with information on tariffs and trade agreements for companies and countries seeking new markets for their exports.
A statement from the Inter-American Development Bank (IDB) reads:
IDB launches new version of Intrade, the most complete business information system in the region.
The Chilean market, current recipient of some Costa Rican products, could be better utilized by exporters.
Chile is already one of Costa Rica’s trading partners, selling the country juices, fruit concentrates, food preparations and cassava (yuka).
This list of products could be expanded if exporters take advantage of the opportunity and increase the diversification of exportable products, which according to a study by the Costa Rica Promoter of International Trade of (Procomer), is a possibility.
The Guatemalan food processing company, which currently exports to Nicaragua and Honduras, is looking to break into the Costa Rican market.
The general manager of the company's Perry branded cold meats and sausages, Juan José Herrera, indicated that the procedures required by Costa Rican authorities had been completed and the Cargill is awaiting authorization to begin exporting.
India could become a major growth market for raw materials from Latin America and the Caribbean.
This region's governments should promote closer ties with the South Asian giant and reduce the trade costs in order to make the most of this opportunity, according to a study carried out by the Inter-American Development Bank (IDB).
India's 1.1 billion population and scarce natural resources, relative to other nations of its size, mean that it has the potential to become a major purchaser of agricultural and mineral products, two of Latin America's main exports, the study says. Currently India comprises just 0.8% of global trade with this region, compared to 7.7% for China.
The southeast Asian country is a large importer of food and its consumers are highly demanding.
These are the two main characteristics about the South Korean market identified by Costa Rica's export promotion agency, Procomer.
An article published by Elfinancierocr.com highlights the recent Free Trade Agreement (FTA) reached with this country, to which Costa Rica has largely sold Intel microprocessors, coffee and fresh fish.
Despite the efforts of Costa Rican exports promotion agency PROCOMER, sales to Cuba see little to no growth.
In the first four months of 2010, the country sold $3.1 million to Cuba, down from $4.5 million in the same period of 2009.
“This implies that bilateral trade between the countries has not been benefited by the reopening of diplomatic relations on March 18, 2009”, reported Nacion.com.
Nicaragua’s only salt producer is planning its expansion to Costa Rica and Honduras.
Oscar Vargas, CEO of Nicasa, (mixed company owned by Unión Fenosa and Albanisa), explained they have invested $2.6 million in the production plant, and are now capable of producing 550 quintals per hour, with 99% purity.
Vargas told Laprensagrafica.com: “We plan to turn out 25.000 quintals each month, 3.000 more than December 2009.
As part of the FTA negotiations with China, Costa Rica's trade promotion agency, PROCOMER, revealed a study on the Asian country's coffee market.
Coffee demand has grown in the last years, from 5.797 tons in 2002 to 10.197 in 2007. Procomer's study points out that consumption is concentrated on major cities, and among higher income population.
"Ronald Peters, executive director of the Costa Rican Coffee Institute, said that the sector has already conducted some explorations on the Chinese market", published Nacion.com. "He acknowledged the impossibility of competing in supermarkets, because there are well-positioned brands selling local, Vietnamese or Indonesian coffee. However, Costa Rica can sell very high quality coffee, renowned for its origin, through associations with local coffee shop companies".