• Costa Rica Coffee Guide

Mexico-Central America free-trade negotiations advance

August 6, 2010

 

The second round of negotiations for a single Mexico-Central America Free Trade Agreement – as opposed to the series of agreements now in force – began Monday in El Salvador and will end on Wednesday, the Mexican Economy Secretariat announced.
 
“One of the benefits expected from signing this treaty is supporting small and medium businesses in the region, because it will reduce transaction costs,” the secretariat said in a statement.
 
The purpose of the single free-trade agreement is to meld into a single instrument the three separate free-trade agreements Mexico has signed with Central America: one with the nations of the Northern Triangle (Guatemala, Honduras and El Salvador), one with Nicaragua and another with Costa Rica.
 
Negotiations are expected to end in 2012, the statement added.
 
The new treaty “will expand the free-trade area and will allow economic players to have a single set of trade rules,” which will “facilitate and encourage the flow of trade and investment between the six participating countries,” the secretariat said.
 
Currently, “many provisions” must be adhered to for those who wish to benefit from the three existing treaties, the secretariat acknowledged.
 
Central America represents a market of 38 million people and “Mexico is the source of only 8 percent” of the region’s total imports, which indicates “there is room to increase exports of Mexican products and services” to the region, detailed the secretariat.
 
Total Mexican investment in the five Central American countries is about $5 billion.

You may be interested

Costa Rica unemployment rate drops to 19%
Costa Rica
2537 views
Costa Rica
2537 views

Costa Rica unemployment rate drops to 19%

The Tico Times - March 4, 2021

Unemployment in Costa Rica fell to 19.1% in the moving quarter from November to January. This maintained a downward trend…

Throwback Thursday: 2006 Arenal Volcano lava flows
Arenal
4796 views
Arenal
4796 views

Throwback Thursday: 2006 Arenal Volcano lava flows

The Tico Times - March 4, 2021

Arenal Volcano's July 1968 eruption destroyed three small villages, killed 87 people and wiped out 232 square kilometers of crops…

MOPT warns of higher traffic accidents as measures are eased
Costa Rica
1328 views
Costa Rica
1328 views

MOPT warns of higher traffic accidents as measures are eased

Alejandro Zúñiga - March 4, 2021

The Public Works and Transport Ministry (MOPT) is reminding drivers to follow the rules of the road when traveling this…