San Jose [TCRN] – In June 2012, the Canadian Ministry of Trade and Costa Rica counterparts concluded fourth round of negotiations in an effort to update the Canada-Costa Rica Free Trade Agreement.
The updated agreement is designed to modernize and remove barriers for cross border investment, trade, and financial services providing competitive advantages in many sectors.
Also in June the World Trade Centre Atlantic Canada, in collaboration with Atlantic Canada Opportunities Agency and Port Saint John, organized an incoming trade mission for eight businesses from the Dominican Republic and Costa Rica to visit New Brunswick.
At this event Alexander Leon, Trade Commissioner for The Canadian Embassy to Costa Rica presented Costa Rica to the assembly and showed its impressive regional and global indices accomplishments;
• Human Development Index: Costa Rica 9th on the index
• Environment Performance: Costa Rica 3rd on the index
• Democracy Index: Costa Rica 24th on the Global index
• Political Stability: Costa Rica 2nd on the Latin America index
Other Costa Rica scores of note;
• 1st – High-Tech exporter of Latin America
• 4th – High-Tech exporter of the World Development Indicators 2010, World Bank
• 2nd – Best Country of Latin America on Variables measured: Education, Health, Quality of Life, and Political environment
• Ranking of the World’s Best Countries 2010, Newsweek
From 2001 to 2010 Bilateral Trade between Canada and Costa Rica grew at an impressive rate:
Bilateral Trade Canada – Costa Rica”: Millions of Canadian Dollars
| CANADA | 2011 | 2010 |
| CND exports to CR | 63 | 109 |
| CND imports from CR | 189 | 436 |
| COSTA RICA | ||
| Exports to Canada | 49 | 98 |
| Imports from Canada | 112 | 119 |
Source: World Trade Atlas
The EDC Economics report said imports from Canada to Costa Rica continued growth in 2011 to $ 155 million CAD, and Canadian direct investment in Costa Rica reached $226 million CAD.
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