Costa Rica aims to seek new investments, as well as to formalize the application to join the Trans-Pacific Partnership Agreement (TPP). Joining this agreement will allow Canada to invest in Costa Rica’s semiconductor and technology industry. “Further strengthening trade relations with Canada is going to be a win-win for both countries. Canada is a first world country that has a lot to offer, so we hope that this official tour of the Costa Rican government will expose all the talent that exists in our country in order to attract investment. The Free Trade Zone program in our country is a perfect example through which Canada could take advantage of great commercial and fiscal benefits, as well as rely on the human talent that Costa Rica has to offer”, commented Tomás Quirós, partner of CENTRAL LAW in Costa Rica.
The CPTPP is an agreement integrated by 12 countries that together represent 17% of world trade, 13% of global GDP, 6.8% of the world’s population. According to a Promer publication, this agreement includes issues such as the environment, regulatory coherence, combating corruption, gender inclusion and support for small and medium-sized companies.
In 2022, Costa Rica’s exports of goods to Canada totaled $93.9 million, while as of October 2023 the figure was $83.1 million.
All the implications of this commercial approach can be elucidated by our CENTRAL LAW partner in Costa Rica, Tomás Quirós. For more information, please contact him at tquiros@central-law.com
