Costa Rica, Panama To Sign Trade Pact

June 29, 2007

Representatives from Costa Rica and Panama have agreed to sign a free-trade agreement between the two countries after nine rounds of negotiation.

The agreement will allow 90% of Costa Rican products to enter its southern neighbor tariff-free, while the other 10% will be exempted from taxes for five to 17 years.

During the final round of negotiations, the two countries reached agreements on financial services, telecommunications and ketchup, among other goods and services, according to the Foreign Trade Ministry.

Costa Rican Foreign Trade Minister Marco Vinicio Ruiz said June 22 he is “very satisfied” with the agreement and that he hopes it will be signed within one month, following a legal review.

His Panamanian counterpart Alejandro Ferrer said, “We have reached a historic agreement, in a moment when there is an excellent relationship between the two countries. I think that with this treaty, our commercial relations will benefit greatly,” according to the wire service ACAN-EFE.

During 2006, Costa Rica exported $268 million worth of goods to Panama and imported $162.7 million worth of goods from that country.

 

You may be interested

Give green in Costa Rica: holiday gifts that will live on all year
Environment and Wildlife
984 views
Environment and Wildlife
984 views

Give green in Costa Rica: holiday gifts that will live on all year

Ed Bernhardt - December 16, 2017

A warm holiday greeting from the garden to all our readers. Another year has come to an end, and it’s…

Honduran opposition protesters take to the streets
Central America
1753 views
Central America
1753 views

Honduran opposition protesters take to the streets

Noe Leiva / AFP - December 15, 2017

Supporters of the leftist opposition in Honduras blocked streets in various cities around that country on Friday, despite political repression,…

Of snow, kindness and Northern Lights: a Costa Rican in Manitoba, Canada
Please Send Coffee!
2545 views
Please Send Coffee!
2545 views

Of snow, kindness and Northern Lights: a Costa Rican in Manitoba, Canada

Gustavo Díaz Cruz - December 14, 2017

My mom named me Gustavo Adolfo. I was born in Puntarenas, next to the sea, but my home was in…