Friday 24 September 2021

Costa Rica Hopes to Capitalize On FTA With Colombia

Paying the bills

Latest

Legislators to begin discussion on reducing the 2022 Marchamo this Monday

QCOSTARICA - The political fractions, except that of the...

No National Census in 2022!

QCOSTARICA - The Instituto Nacional de Estadística y Censos...

Seven drivers a day go to the Prosecutor’s Office for driving drunk

QCOSTARICA - Every day, seven drunk drivers are referred...

Costa Rica has the lowest inflation in the region

QCOSTARICA - Costa Rica registered the lowest inflation in...

11 benefits of e-learning

Whether you struggle to learn in a traditional educational...

Will Paul Chaplet ever fly the flag for Costa Rica on the PGA Tour?

Life comes at you fast when you’re a teen...

What Are the Best Costa Rican Players in the MX League?

The Primera División de México, better known as Liga...
Paying the bills

Share

Companies in Costa Rica like Bridgestone (tires) will be able to export immediately without tariffs.
Companies in Costa Rica like Bridgestone (tires) will be able to export immediately without tariffs.

(QCostarica) The Free Trade Agreement (FTA) between Costa Rica and Colombia will become effective this August 1, with it expectations of higher exports for some industrial sectors, except that this agreement is a prerequisite for an eventual accession process of Costa Rica to the group of countries of the Pacific Alliance (Alianza del Pacifico – AP) composed of Mexico, Colombia, Peru and Chile.

Medicines, tires, foliage, some plastics, frozen bread and cookies are some of the goods that will be duty free starting from August 1. The agreement states that 75% of industrial goods will become duty-free immediately, and the other products within 5 to 15 years.

- Advertisement -

Francisco Gamboa, executive director of the Chamber of Industries of Costa Rica (ICRC) recalled that the union supported the terms in which the FTA was negotiated, as the main trade of the two countries, in both directions, is the industrial sector.

Meanwhile, the Minister of Foreign Trade (Comex), Alexander Mora, recalled that the market size of Colombia is equal to all of Central America combined, which raises expectations in that country.

Among the products were excluded from the FTA are, among others, oils, some milk, some meats, beer, waffles, chewing gum, some plastic products, paper products and some metalworking goods.

Nacion.com reports that “…In the chapter of excluded products were, among others, oils, some milk products, some meats, beer, waffles, chewing gum, some plastic products, paper products and some metalworking goods.

Colombia is by far the largest market in South America for Costa Rican products. In 2015 it represented 27% of the value of exports to the continent, according to figures by PROCOMER.

Source: Nacion.com

- Advertisement -

- Advertisement -
Paying the bills
Ricohttp://www.theqmedia.com
"Rico" is the crazy mind behind the Q media websites, a series of online magazines where everything is Q! In these times of new normal, stay at home. Stay safe. Stay healthy.

Related Articles

Mu variant of coronavirus: what we know about this mutation present in Costa Rica

QCOSTARICA - All viruses change over time. SARS-CoV-2 has already mutated...

What’s the Mu variant? And will we keep seeing more concerning variants?

Q HEALTH - This week the World Health Organization named a...

Subscribe to our stories

To be updated with all the latest news, offers and special announcements.

Log In

Forgot password?

Forgot password?

Enter your account data and we will send you a link to reset your password.

Your password reset link appears to be invalid or expired.

Log in

Privacy Policy

Add to Collection

No Collections

Here you'll find all collections you've created before.