Costa Rica's Foreign Trade Ministry (COMEX) and the legislature's Special Permanent Committee agreed Thursday morning to recommend approval of the free-trade agreement with China.
The country's cell phone market was opened to private competition with the entry into force of the Central American Free-Trade Agreement with the US (CAFTA) on Jan.1, 2009.
Canada and Costa Rica have agreed to work toward modernizing the existing bilateral free-trade agreement, announced Peter Van Loan, Canada’s minister of international trade, who just concluded his five-day, four-country visit to Latin America.
China said on Thursday it had signed a free trade agreement with Costa Rica, paving the way to lift almost all tariffs on Chinese textiles, chemicals and machinery to the Central American nation.
Costa Rica said on Monday it was on the verge of reaching a free trade deal with China as the Central American nation and the fast-growing Asian economy held talks.
While the Central American Free Trade Agreement with the United States technically has been in effect in Costa Rica for more than a year, one piece of it still languishes in the Legislative Assembly awaiting approval: changes to Costa RIca's copyright rules.