Home World News El Salvador and Costa Rica Expect More Trade and Investment with European Union

El Salvador and Costa Rica Expect More Trade and Investment with European Union


The Costa Rica News (TCRN) – The Association Agreement between Central America and the European Union (EU) came into effect today in El Salvador and Costa Rica with the expectation for both countries to expand trade and investment with the EU.

The agreement was effective August 1 between the EU and Panama, Nicaragua and Honduras, but Costa Rica, El Salvador and Guatemala were left out because of internal procedures.

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El Salvador and Costa Rica joined the trade pact today, while Guatemala hopes to do on the 1st of November, the economy minister, Sergio de la Torre, in Guatemala City.

In Costa Rica, authorities welcomed the entry into force of the Association Agreement, as the EU is an important partner for Costa Rica.

“The … agreement isan important goal forour trade policy, to open new trade and investment opportunities for the productive sectors of our country,” said Foreign Trade Minister, Anabel González.

Official data show that Costa Rica Costa Rica is the main trading partner of the EU in Central America, with exports to the European bloc by value of $2.068 billion in 2012 and $ 1.234 billion in imports.

In the first half of this year, Costa Rican exports to the EU totaled $ 1,327 million and imports 551.6 million.

In 2012, foreign direct investment originating from the EU accounted for 20.8% of the total received by Costa Rica. EFE

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