First Country of the European Free Trade Agreement Signs on the Dotted Line With Costa Rica

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    The Costa Rica News (TCRN) – The Free Trade Agreement between the European Free Trade Association (EFTA – Switzerland, Iceland, Liechtenstein and Norway) and Costa Rica came into force today regarding Norway, while it will commence with Switzerland, Iceland, and Liechtenstein on August by the 5th of September.

    “NAFTA consolidates access of exports to the European market and opens new opportunities for the many business sectors and is also a valuable tool for promoting the attraction of direct foreign investment,” said Minister of Foreign Trade, Alexander Mora.

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    As provided in the Treaty, 98.7% of Costa Rican exports to enter these countries will beduty free. Some products such as bananas, fresh fruit, flowers and foliage, vegetables, root crops, coffee and all industrial products will benefit from this preferential access.

    Meanwhile, approximately 93.3% of exports from the EFTA nations to Costa Rica will benefit from immediate tariff elimination.

    The negotiation of this agreement began in February 2012. The European Free Trade Association has negotiated treaties with about 24 different partners in Latin America, including agreements with Chile, Colombia, Mexico and Peru.

    The Costa Rica News (TCRN)

    San Jose, Costa Rica

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