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.
Facebook Comments

You may be interested

Nicaragua calls Carlos Alvarado’s statements “disrespectful” and “intruding”
News
734 views
News
734 views

Nicaragua calls Carlos Alvarado’s statements “disrespectful” and “intruding”

AFP / The Tico Times - October 16, 2018

The Nicaraguan government described statements by Costa Rican president Carlos Alvarado about Nicaragua's “internal affairs” as “disrespectful” and “intruding.” The…

Transformational travel in Costa Rica: Turning the flat world round
Costa Rica
628 views
Costa Rica
628 views

Transformational travel in Costa Rica: Turning the flat world round

Alissa Grosskopf - October 16, 2018

The sound of roaring water and the fear in my body drown out the encouraging shouts of my group behind…

Children: the future of shark protection
Changemakers
543 views
Changemakers
543 views

Children: the future of shark protection

Alissa Grosskopf - October 16, 2018

The nonprofit organization Misión Tiburón is strongly engaged in the protection of hammerhead sharks in Costa Rica. They hope to…