Costa Rica moves forward with Pacific Alliance efforts

February 7, 2014
1 Comments

During an upcoming trip to Colombia, President Laura Chinchilla on Monday will sign a memorandum outlining the steps Costa Rica must take to obtain full inclusion in the Pacific Alliance, a growing trade bloc of Latin American countries.

Chinchilla will arrive in the city of Cartagena for a two-day trip to attend the VIII Presidential Summit of the trade forum, accompanied by Foreign Minister Enrique Castillo and Foreign Trade Minister Anabel González.

Costa Rica will become the first country to apply for full membership in the forum following its establishment by founding members Chile, Colombia, Mexico and Peru. The alliance was created on April 28, 2011.

“This is a great achievement for our trade and foreign policies. My administration has emphasized trade promotion and modernization, as well as investment in the tools to make Costa Rica a more open economy,” Chinchilla said on Thursday.

Efforts to become a full member of the alliance began two years ago when the country was admitted as an observer in March 2012.

Costa Rica already holds active trade agreements with Mexico, Chile and Peru, while a similar agreement with Colombia awaits Legislative Asembly approval.

Trade figures with these four countries increased from $775 million in 2002 to $2.2 billion in 2012, according to the Foreign Trade Ministry (COMEX).

These countries accounted for 20 percent of Costa Rica’s Foreign Direct Investment in 2012, and their populations represent a market of 209 million people with a per capita GDP of up to $15,400 per year, COMEX reported.

The Cartagena Summit will be the last international forum for Chinchilla before the inauguration of Costa Rica’s new president on May 8.

Facebook Comments

You may be interested

Costa Rica’s Health Ministry confirms three imported cases of the measles
Health matters
1019 views
Health matters
1019 views

Costa Rica’s Health Ministry confirms three imported cases of the measles

Alejandro Zúñiga - February 21, 2019

Costa Rica's Health Ministry confirmed Thursday afternoon three imported cases of the measles, the country's first since 2014. The affected…

New tournament in Quepos to crown Best Fisherwoman Worldwide
Sponsored content
403 views
Sponsored content
403 views

New tournament in Quepos to crown Best Fisherwoman Worldwide

The Tico Times - February 21, 2019

For the first time in Costa Rica, women who love sport fishing will go to sea in a world-class event…

Guaidó-appointed ambassador takes possession of Venezuelan embassy in Costa Rica
Costa Rica
824 views
Costa Rica
824 views

Guaidó-appointed ambassador takes possession of Venezuelan embassy in Costa Rica

AFP and The Tico Times - February 21, 2019

Maria Faría, appointed ambassador by the self-proclaimed interim president of Venezuela, Juan Guaidó, took possession of her country's diplomatic headquarters…