2024-10-01 15:40:21
He president of Costa Rica, Rodrigo Chavesratified this Wednesday, June 19, 2024, the Trade Association Agreement with Ecuadorwhich covers more than 90% of the products, which according to the authorities is a range of opportunities for Costa Rican exporters.
President Chaves signed the treaty as the last step for its entry into force, after approval in the Legislative Assembly Costa Rican on May 30.
«Well-managed international trade is a sign of prosperity. This Government is committed to bringing more of the world to Costa Rica and take Costa Rica to more parts of the world. We are not afraid of competition, we want a first world country,” said Chaves in his weekly press conference.
The agreement includes free trade of 97% of Ecuadorian products and more than 90% of Costa Rican products. In addition, it covers topics of investment, labor rights, human rightsgender, sanitary and phytosanitary measures, and environment.
According to the authorities of both nations, the pact opens opportunities for manufacturing, textile, household appliances, steel and metalworking sectors of Ecuadorwhile in Costa Rica the medical device industry, medicines, manufacturing and agricultural sectors.
«Ecuador and Costa Rica have a huge potential and the agreement will enhance commercial exchange, investments and the generation of quality employment in both countries. The agreement is state-of-the-art with legal advances and good practices in electronic commerce, intellectual property, and support for small and medium-sized businesses,” said the Ecuadorian ambassador to Costa Rica, Bolivar Torres.
This will be Costa Rica’s fourth free trade agreement with a South American nation, as it already has agreements in force with Colombia, Peru and Chile.
Official data indicate that trade in goods with Ecuador reached an amount of 110 million dollarsof which 70% corresponded to exports and the remaining 30% to imports. Costa Rica exported goods for a amount of 77 million dollars to that countrywith which a growth of 11% was recorded in relation to the previous year.