Costa Rica closes free-trade deal with China

February 5, 2010

Costa Rican coffee would enter China’s market tariff-free as part of a host of deals reached Wednesday at the close of the sixth and final round of the Costa Rica-China Free-Trade Agreement (FTA) negotiations, provided the agreement is approved by Costa Rica’s Legislative Assembly. The accord is slated to be presented to the assembly in April.

Fifty-eight percent of Costa Rican products already being exported to China, such as certain fruit juices, would begin entering the Asian giant’s market without tariffs immediately upon the FTA’s approval. Coffee is among a variety of other goods that would begin an incremental 10-year progression toward free-trade, reaching 94 percent of Tico-made goods flowing into China by 2020.
 
Sugar, an old hallmark of the Costa Rican economy, was left out of the deal despite the best efforts for the Ticos to get it in, Fernando Ocampo, Costa Rica’s chief negotiator, told reporters on Wednesday at the San José Palacio in La Uruca, in the northwestern area of the capital.
 
Microprocessor chips produced by the computer company Intel are Costa Rica’s biggest export to China.
 
China, the world’s biggest exporter, offered 99.6 percent of its market up for free trade.
 
Foreign Trade Minister Marco Vinicio Ruiz said the Costa Rican sectors should be “satisfied” with the outcome of the FTA.
 
“This agreement is a milestone for Costa Rican commercial policy,” said Ruiz.
 
However, the Costa Rican Industrial Chamber, a staunch critic throughout the negotiations process, swiftly issued a statement saying the treaty is not satisfactory.

You may be interested

Response to disaster: aid successes, struggles in post-Maria Puerto Rico
Weather
477 views
Weather
477 views

Response to disaster: aid successes, struggles in post-Maria Puerto Rico

John McPhaul - December 13, 2017

As Costa Rica joins many other nations in looking back upon the horrendous 2017 hurricane season, longtime Tico Times contributor…

Looking back at Hurricane Maria: the initial impact
Weather
1644 views
Weather
1644 views

Looking back at Hurricane Maria: the initial impact

John 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 Rica
Weather
4218 views
Weather
4218 views

Cold front claims fourth victim in Costa Rica

Katherine Stanley - December 12, 2017

High winds claimed the life of a fourth victim in Costa Rica as the cold front that has been moving…