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    Government Welcomes Agreement with European Union

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    The Government of Costa Rica said it welcomes the adoption in First Debate with the Association Agreement between Central America and the European Union (CAAA).

    “After many months of work by the Executive Branch … finally today at the insistence and support the Government has achieved the vote in the first debate of the Association Agreement” said the Presidential House.

    The Minister of the Presidency, Carlos Ricardo Benavides, criticized the current legislative regulation because it obstructs the will of the majority, as in the case of the EU project.
    As reported, the CAAA will improve market access for domestic goods and services to Europe and will diversify export markets and products. It also provides greater legal certainty for foreign investment.

    It will allow the entry of consumer products at lower prices because they will not pay import taxes, as in the case of apples, raisins, stuffed pasta, olive oil, olives, perfumes and wines.
    In 2011 the exports reached U.S. $ 1,884.5 million, about 20% of total exports. The number of products exported to that market reached 806 and the number of companies exporting to 547. The Association Agreement gives the opportunity to Costa Rica to export to a market of 27 countries and about 500 million consumers.

    [Based on a Report by CRHoy.com]

    The Costa Rica News (TCRN)
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