Costa Rica’s Sala IV OKs association agreement with European Union

The Constitutional Chamber of the Supreme Court, or Sala IV, on Friday confirmed that the association agreement between Central America and the European Union (EU) does not violate any articles of Costa Rica’s Constitution.

Lawmakers sent the agreement to the  Sala IV for consultation before after it was approved in a first round of debate by the Legislative Assembly on May 21. Legislators can now can proceed with discussion and approval in a second and final round of voting.

The agreement will enter into force on Aug. 1 between countries who have completed all procedures no later than July 15. It has already been approved by the governments of Nicaragua, Honduras, Panama and Guatemala.

El Salvador and Costa Rica are the two remaining countries in the region that must complete approval.

The EU bloc, composed of 27 countries, is the second largest trading partner for Costa Rica 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.