Wednesday, 25 November 2020

Progress in Costa Rica’s Entry into Pacific Alliance

VII_Cumbre_de_la_Alianza_del_Pacífico_Santiago_de_Cali

The government has announced the signing of the process of incorporation, while business associations oppose the increased tariff liberalization which will come from membership of the group.

As part of the agreement of incorporation into the block of Pacific Alliance tariffs must be eliminated on 92% of the products and the remaining 8% will be gradually removed. However, the productive sector refuses to increase the current level of trade openness.

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Crhoy.com reports that “… For the 8% of goods -except sugar- grace periods have been agreed during which tariffs will not be reduced for 7, 10, 12 to 17 years. ”

The Minister of Foreign Trade, Alexander Mora, added “… The FTAs ​​that the Alliance currently has with actually facilitate the work a lot. With Chile we already have free trade for 95% of the products; with Mexico 98%, 78% with Peru and Colombia 71%. ”

Source: Crhoy.com

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