No menu items!

COSTA RICA'S LEADING ENGLISH LANGUAGE NEWSPAPER

HomeArchiveRegional free trade agreement with Mexico enters into force

Regional free trade agreement with Mexico enters into force

A free trade agreement between Central America and Mexico entered into force this week, the Costa Rican Foreign Trade Ministry (COMEX) reported on Monday.

For Costa Rica, the treaty is an update of an agreement the two countries signed in 1994.

Foreign Trade Minister Anabel González said the deal will allow increased trade with, and investment from, Mexico.

In order to take advantage of the treaty’s benefits, exporters must fill out a certificate that will be made available at COMEX’s website in coming days. Businesses with certificates from the previous treaty are entitled to use them for a period of 45 days.

Mexico is the third most important destination for Costa Rican products, behind the United States and Spain. However, Costa Rica has a negative trade balance with Mexico. According to Costa Rica’s Foreign Trade Promotion Office, exports to Mexico in 2012 totaled $322 million, while imports totaled $1.1 billion.

Costa Rica exports to Mexico mostly palm oils, prepared food and rubber products, among others.

Popular Articles

Costa Rica’s Record Meth Bust in Tibás Raises Concerns

Costa Rican authorities seized 48 kilograms of crystal methamphetamine in Tibás, marking our country’s largest synthetic drug seizure. The operation, conducted by the Drug...

Costa Rica Catholics Support Conclave Despite No Voting Cardinal

Black smoke rose from the Sistine Chapel’s chimney this evening, signaling that the 133 cardinals in the 2025 conclave have not yet elected a...

Costa Rica President’s State of Nation Address Sparks Controversy

Costa Rican President Rodrigo Chaves delivered his third State of the Nation Address to the Legislative Assembly, employing an unconventional approach that blended multimedia...
L. Arias
L. Arias
Reporter | The Tico Times |
spot_img
Costa Rica Tours
Costa Rica Coffee Maker Chorreador
Costa Rica Coffee Maker Chorreador
Costa Rica Travel Insurance
Costa Rica Rocking Chait

Latest Articles