Q COSTA RICA NEWS – The Organization for Economic Co-operation and Development (OECD) has warned that “underinvestment” in infrastructure is a critical element that inhibits the country’s ability to trade.

9179187262_4dba33c0aaAn analysis of the degree of market opening by OECD, showed positive and negative results, with the most noteworthy among the favorable being an annual increase of 9% in the volume of exports of goods between 1994 and 2013 and a reduction in tariffs and negotiation of free trade agreements.

See document: “Study on Market on Opening, 2016 Key Issues“. (In Spanish)

Despite this progress, the OECD noted the need to address the serious problem of lack of infrastructure affecting the country. “…Underinvestment in infrastructure is a critical element that inhibits the ability of a country to trade and is a challenge that Costa Rica must address in order to avoid the “middle income trap”. This applies in particular to transport infrastructure, ports and border crossings but also the pattern of energy production in the country.”

The OECD also warned of “… delays in procedures affecting performance and competitiveness of enterprises, including the delivery of environmental permits and construction permits, company registrations and trading licenses.”

Source Centralamericandata.com

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