European Union Approves Regional Preference System

July 1, 2005

THE European Union has approved itsnew Generalized Preference System(GPS), which grants Costa Rica and othercountries with “special developmentneeds” lower tariffs on exports, the ForeignTrade Ministry announced Monday.The new system will be in effect fromJan. 1, 2006 to Dec. 31, 2008, but CostaRica and other countries that have qualifiedfor provisional “GPS Plus” status by meetingsustainable development and “soundgovernment” standards will benefit fromthe incentive system beginning today,according to a ministry statement.To achieve permanent membership inthe “GPS Plus” group, Costa Rica andother developing countries have until Oct.30 to present a formal request for the status.Costa Rica will present its requesttoday, the statement said.In response to the system’s approval,Foreign Trade Minister Manuel Gonzálezreiterated the importance of Costa Rica’strade relations with the European Union –a region to which the country’s exportstotaled approximately $1 billion in 2004– and of negotiations for a so-called associationagreement, which would include afree-trade accord, with the region.Central American leaders haveexpressed hope that free-trade negotiationswith Europe will begin in May2006, the month of the next EuropeanUnion-Latin American and Caribbeansummit, which is scheduled to take placein Vienna, Austria.European and Central American leadersmet in San José in May to begin evaluatingCentral American integration efforts,on which the European Union has conditionedthe beginning of free-trade negotiations.

Facebook Comments

You may be interested

Costa Rica issues invitation to Commission on Human Rights following murder of Bribrí leader
Costa Rica
731 views
Costa Rica
731 views

Costa Rica issues invitation to Commission on Human Rights following murder of Bribrí leader

AFP and The Tico Times - March 23, 2019

Costa Rica on Friday invited the Inter-American Commission on Human Rights (IACHR) to visit indigenous territories in the country’s southern…

Costa Rica falls to Guatemala, 1-0, in soccer friendly
Costa Rica
656 views
Costa Rica
656 views

Costa Rica falls to Guatemala, 1-0, in soccer friendly

AFP and The Tico Times - March 23, 2019

The Guatemalan national soccer team defeated its Costa Rican counterparts 1-0 on Friday night in a friendly in the Guatemalan…

Vaccinating children against measles is ‘an obligation’ for adults in Costa Rica
Costa Rica
1137 views
Costa Rica
1137 views

Vaccinating children against measles is ‘an obligation’ for adults in Costa Rica

Alejandro Zúñiga - March 23, 2019

Measles have been reintroduced in Costa Rica this year thanks to two foreign families that vacationed or reside here and…