Lawmakers Dismantle Insurance Monopoly
Costa Rica is one step closer to entering a free-trade agreement with the United States, after lawmakers voted this week to promote competition in the insurance market and better protect intellectual property.
The two measures will help Costa Rica implement the Central American Free-Trade Agreement with the United States (CAFTA), ratified by referendum in October.
On Tuesday, lawmakers voted in final debate to allow private national and foreign companies to join the National Insurance Institute (INS) in selling insurance here.
The next day, lawmakers also gave an initial thumbs-up to a measure that imposes stiff fines and prison sentences on violators of copyright, patent and trademark law.
The bill will become law once it is approved in a second debate and signed by President Oscar Arias.
Four bills must pass a second round of debate before Costa Rica can enter CAFTA. The deadline for joining the pact is Oct. 1.
You may be interested
Looking back at Hurricane Maria: the initial impactJohn McPhaul - December 12, 2017
As Costa Rica joins many other nations in looking back upon the devastating 2017 hurricane season, longtime Tico Times contributor…
Cold front claims fourth victim in Costa RicaKatherine Stanley - December 12, 2017
High winds claimed the life of a fourth victim in Costa Rica as the cold front that has been moving…
With Keylor Navas battling injuries, Real Madrid eyes January swoop for Bilbao goalieAFP - December 11, 2017
Real Madrid's first foray into the January transfer market will be to snap up Athletic Bilbao's promising goalkeeper Kepa Arrizabalaga,…