Costa Rican lawmakers approve association agreement with European Union
After several hours of negotiations lawmakers on Tuesday night approved an association agreement between Central America and the European Union (EU), with 37 votes in favor and four against.
The European bloc, formed by 27 countries, is Costa Rica’s second largest trading partner after the United States.
Exports to Europe exceeded $2 billion in 2012, which represented some 18 percent of the country’s total exports.
The most demanded products by European consumers are agricultural goods, mostly bananas, pineapples, coffee, rice, flowers and yuca, followed by shrimp, tuna and textiles.
The regional agreement, already approved by Honduras, Nicaragua, Panama, Guatemala and El Salvador, will enter into effect on Aug. 1.
To be fully adopted in Costa Rica the agreement still requires approval in a second round of voting in the Legislative Assembly, and it must be ratified by the Constitutional Chamber of the Supreme Court. It then would be sent to the Central American Integration System.
Once it enters into force, the EU would eliminate 92.1 percent of its tariffs on Central American products.
You may be interested
Panama says it will enable ‘abandoned’ hospital for Covid-19AFP - September 22, 2020
The Panamanian government said Monday it will enable an unfinished hospital to care for Covid-19 patients. The hospital's construction, the…
Costa Rica coronavirus updates for Monday, September 21Alejandro Zúñiga - September 21, 2020
Costa Rica announced 59 new coronavirus-related deaths since Friday for a total of 745, according to official data released Monday…
President of Legislative Assembly doesn’t see viability of Costa Rica’s IMF proposalAlejandro Zúñiga - September 21, 2020
The president of Costa Rica's Legislative Assembly expressed his displeasure with the Presidency's fiscal measures that are intended to help…