Friday 24 September 2021

How to Leverage Costa Rica-Colombia FTA

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Businesses and governments yesterday analyzed the potential of trade and investment between Colombia and Costa Rica, at the Crowne Plaza hotel Corobicí at an event organized by the Chamber of Exporters of Costa Rica in a range of activities in this regard. | COURTESY CADEXCO
Analyzing the potential of trade and investment between Colombia and Costa Rica, at the Crowne Plaza hotel Corobicí,  an event organized by the Chamber of Exporters of Costa Rica in a range of activities in this regard. | COURTESY CADEXCO

Through trade missions, market mapping, seminars and conventions the union of exporters in Costa Rica intends to take better advantage of business opportunities offered by Colombia.

In 2015 Colombia spent US$75 million on the purchase of goods and services in Costa Rica, establishing itself as the main market, above Brazil, Ecuador and Chile, from where Colombia imported US$51.9 million, US$44 million and US$37 million respectively.

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Nacion.com reports that “…As part of the promotional activities of the FTA, PROCOMER presented a mapping of the Colombian market, where it concludes that the food industry has the most options in that country, followed by the pharmaceutical chemical and electrical and electronics industries.  

Sweet biscuits, sauces and preparations, bread, energy drinks, candies and chocolates, and frozen fish are also among those with potential, although their tariffs will be eliminated in installments from five to 15 years. “

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