Costa Trade Agreement


Chile – Total merchandise trade between Chile and Costa Rica has grown by 10.4% per year since the entry into force of the free trade agreement between the two nations in 2003. Between 1996 and 2001, trade between Chile and Costa Rica grew much slower (3%) per year. In the period following the free trade agreement, Costa Rican exports to its South American trading partner grew by 13% year-on-year, while imports grew at an annual rate of 10%. The Canada-Costa Rica Free Trade Agreement (CCRFTA) is a free trade agreement between Costa Rica and Canada. It was signed on April 23, 2001 in Ottawa, Ontario, and entered into force on November 1, 2002. It is the first bilateral free trade agreement that contains innovative autonomous trade procedures. 87% of tariffs on agricultural products were eliminated, either immediately or over a period of 7 to 14 years. Tariffs on many other sectors, such as automotive products and goods, have also been removed. Several sectors of agriculture have been excluded from the Treaty; Eggs, dairy products, poultry and beef were excluded and Costa Rica decided to exclude potatoes from the free trade agreement. The two nations agreed to use World Trade Organization rules for sanitary and phytosanitary matters (known as the SPS agreement). [1] United States – The agreement between the United States and Costa Rica was one of Costa Rica`s most discussed free trade agreements. Total merchandise trade between Costa Rica and the United States has increased since the FTT came into effect in 2019, with an average annual rate of 4.3%. Costa Rican exports grew at an annual rate of 5.2%, from 2.9 billion US in 2009 to 4.2 billionUS in 2016.

Over the same period, imports from the United States increased from 4.7 billion to6.1 billion. The United States, a target for Costa Rican exports, increased from 34% of Costa Rica`s overseas sales in 2009 to 40% in 2016. Mexico – Mexico was the first of Costa Rica`s free trade agreements. The pact with its northern neighbour entered into force in 1995. Since then, overall trade between the two partners has grown at an average annual rate of 9.5%. Looking at each of the components of trade, the figures show that trade grew by an average of 13.1% in relative terms. Peru – The agreement with this South American country is the second free trade agreement in Costa Rica to be put online in 2013. Since then, the average growth in total trade between the two nations has been 8.1% per year. After the signing of the free trade agreement with Peru, Costa Rican exports to the country increased by 9.1%, while imports increased with an overall annual rate of 11.1%.

In the first three years of the agreement, trade increased by 36 percent (from 324 million to440 million). [2] Costa Rican foreign trade is based on four pillars: the multilateral trading system as an active member of the World Trade Organization (WTO), the Central American Economic Integration System (SIECA), bilateral free trade agreements and bilateral investment agreements. Among these platforms, a small country like Costa Rica has managed to become an active member of the global economy. Dominican Republic – Free trade between Costa Rica and the Dominican Republic was introduced following the signing of one of the Dominican Republic`s multi-Rican free trade agreements. As a result of the implementation of free trade relations between Costa Rica and the Dominican Republic, total merchandise trade between the two nations has increased by an average of 10.2% since 2002. If you have any questions or comments about this free trade agreement or the environmental and labour cooperation agreements, we would be delighted to hear from you. Please contact Global Affairs Canada at: European Union – The EU is one of Costa Rica`s major trading partners….

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