No menu items!

COSTA RICA'S LEADING ENGLISH LANGUAGE NEWSPAPER

HomeTopicsLatin AmericaCosta Rica Seeks Economic Boost at Americas Summit

Costa Rica Seeks Economic Boost at Americas Summit

Costa Rican President Rodrigo Chaves will participate in the Summit of the Partnership for Economic Prosperity in the Americas (APEP) hosted by U.S. President Joe Biden on Friday. The summit aims to strengthen regional economic bonds as a counterbalance to China’s growing clout.

In addition to the U.S. and Costa Rica, the meeting will include leaders from 10 other nations: Chile, Colombia, Dominican Republic, Ecuador, Mexico, Panama, Peru, Uruguay, Canada and Barbados.

At least six other regional presidents are expected to attend alongside Chaves, including Luis Lacalle Pou of Uruguay, Luis Abinader of Dominican Republic, Guillermo Lasso of Ecuador, Gabriel Boric of Chile, Dina Boluarte of Peru, and Gustavo Petro of Colombia.

The summit provides an opportunity for Latin American leaders to air grievances over feeling sidelined commercially by the U.S. in recent years. With China assertively filling the void as the region’s top trade partner, the countries are urging concrete steps toward greater economic integration.

President Biden aims to underscore his administration’s commitment to “deepen economic integration” and foster more inclusive, sustainable growth across the Americas. Irregular migration flows are also slated for discussion.

However, some leaders may redirect focus toward condemning the ongoing Israeli-Palestinian conflict, which has killed thousands. Colombia, Mexico and Chile in particular have condemned Israeli military strikes in Gaza.

For Costa Rica, constructive engagement on economic matters remains the priority. But President Chaves could face pressure to speak out on Gaza as well in a show of Latin American solidarity.

While lofty rhetorical commitments are expected, the countries also want tangible outcomes from the summit. At a forum on Thursday, leaders pushed for specific investment projects and supply chain cooperation.

Treasury Secretary Janet Yellen called for greater coordination among “friend shoring partners” to diversify supply chains away from reliance on China. Her sentiments align with the summit’s aims.

As a small, trade-dependent nation, Costa Rica has much at stake from the summit’s success. Increased U.S. economic engagement would provide balance against growing Chinese investment across sectors like infrastructure, technology and energy.

With deft diplomacy, President Chaves can help guide the region toward shared prosperity. But the varied national agendas mean negotiations will prove complex. Still, renewed cooperation would yield significant benefits for Costa Rica and the Americas.

Trending Now

Costa Rica Court Upholds Adults-Only Rule for LGBTIQ+ Pride March Closing Event

In a unanimous decision, Costa Rica’s Constitutional Chamber (Sala IV) has dismissed an appeal challenging the Ministry of Justice and Peace’s reclassification of the...

Poás Volcano Glows with Intense Heat as Night Hikes Begin

Mouth A of Costa Rica’s Poás Volcano continues to release gases so hot that incandescence is visible even during the day—a rare phenomenon not...

Costa Rica Urged to Fix Broken Forestry Permit System

A new report by the Comptroller General's Office (CGR) revealed that poor management of the National System of Conservation Areas (SINAC) by the Ministry...

Costa Rica Urges U.S. to Pause Tariffs Amid Export and Agriculture Concerns

The Costa Rican government has asked the US government to pause the tariffs announced last Thursday while negotiations between both countries continue. Costa Rican...

Argentina Deep Sea Expedition Reveals Stunning Marine Life

A robot explores the dark, cold, deep sea floor of the South Atlantic, transmitting images of vibrant coral and fish never seen before as...

Costa Rican Party Faces Scandal Over Alleged Lottery Laundering Links

The leadership of the National Democratic Agenda (ADN) party dismissed the entire executive committee of that group in Guatuso after learning of its members'...
spot_img
Costa Rica Coffee Maker Chorreador
Costa Rica Coffee Maker Chorreador
Costa Rica Travel Insurance
Costa Rica Rocking Chait
Costa Rica Travel

Latest News from Costa Rica