Costa Rica Business Sector Willing to Adapt

    to new reality of US political paradigm

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    On the brink of new agreements, the North American and Costa Rican Chamber of Commerce urges the Costa Rican government to align with the US government policies in order to improve trades as Trump intends to help some American companies out of financial straits and trade deficit.

    Many political activities were carried out in a manner of celebrating the 100th day of Trump’s presidency tenure. Costa Rica didn’t refuse to participate in these activities and had an important role in the last business conference that took place in San Jose some days ago, specifically last April 28th. That day was very important since the country committed to working accordingly with the alignments of the new American government to attain future progress while president Trump tries to steer some companies to the right track.

    The meeting aimed to get analyst and politicians together in order to size up business development in the middle of a financial turmoil. Business analyst job description was defined.

    It is known that Costa Rica has many ties with the American business, for that reason, AmCham decided to participate in the important event in hopes of finding solutions and strategies to boost improvement in the business sector considering the new changes that Trump’s cabinet is about to introduce.

    The chamber is aware of looming threats in the business realm, but they consider threats as opportunities to exploit to the maximum providing that the company leaders stay alerted and informed.

    All the conference centered about Trump’s agenda as it is expected to keep aligned with the paradigms of the new American government. AmCham, the Costa Rican company reps had previously had a meeting with Trump’s administration in Washington D.C. The company is looking to continue providing the US with agricultural products difficult to grow in the American territory. That improves both Costa Rica and America’s outlooks as they have been continuously cooperating with each other.

    It is important to remark that almost 40% of direct investment in Costa Rica comes from the North American country. Hence the concern of AmCham and other Costa Rican firms, since the new governmental administration is aiming to focus on a partnership with Russia and China, leaving the Central American region aside in the quest for a new geo-strategic approach. This new approach is prompting the world to shift in the same direction.

    During the forum, Whiteman, AmCham executive, personally went to Washington D.C to talk with members of Trump’s administration and stated that the new cabinet is not pretending to go ahead with CAFTA (the Central America – U.S Free Trade Agreement) agreements, thus it’s a must to take measures to cushion the impact of the new decisions or at least try to get the country adapted to the new reality.

    He also pointed out that there is no reason to believe in a new paradigm change that favors Costa Rica in the next four years and that the financial approach may affect the entire Central American region.

    The entire Central American region including Costa Rica must stay alert to a rise in inflation rates and imbalances in interest rates which, in the same way, might bring on higher prices in the market of goods.

    Other issues addressed in the international forum

    • Immigration: Costa Rica doesn’t represent a threat to the US in this aspect. Actually, Costa Rica sounds as the perfect destination for most American retirees.
    • New bills for Call center: not a problem for Costa Rica either.

    Benefits of the conference

    • With AmCham’s participation in the international forum, AmCham brings in a new understanding of the political and financial approach of Trump’s administration.
    • The definite conclusion of making ways to prevent abrupt financial turmoil in the event of new changes and bills.
    • The forum helped nail down strategies for Costa Rica business to adapt to the new reality.
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