Puerto Rico trade mission seeks Costa Rican investment

A group of 13 representatives of Puerto Rico’s business sector this week are holding a total of 150 business meetings with Costa Rican importers in San José.

From August 21-23 some 80 local business executives will participate in negotiations with Puerto Rican representatives of various sectors including manufacturing, cosmetics, engineering design, electronics, oils and food, among others.

“We held our first [trade] mission in Costa Rica two years ago. This year’s meeting aims to strengthen trade ties between the two countries and to generate new business opportunities that benefit both nations,” said Awilda Mercado, executive director of Puerto Rico’s Trade Office for Latin America.

Trade relations between Costa Rica and Puerto Rico began on Jan. 1, 2009, when a free trade agreement between Central America and the U.S. entered into force.

The trade balance since then has favored Costa Rica, and according to the Costa Rican Chamber of Importers, in 2012, Costa Rica imported $34.1 million in goods from Puerto Rico and exported $157.3 million.

Costa Rica exported mostly medical equipment, and agricultural and food products, while Puerto Rico exported electronic components, electrical parts and food products.