Costa Rica and Panama Signed FTA with the European Free Trade Association

from The Costa Rica News..

June 26, 2013

The Costa Rica News (TCRN) – This week in Norway Costa Rica and Panama signed a Free Trade Agreement with the European Free Trade Association (EFTA), in order to consolidate trade relations with Europe, official sources said.

The trade agreement was signed by the Costa Rican Foreign Trade Minister, Anabel González, his colleague from Panama, Ricardo Quijano, and representatives of Norway, Trond Giske, from Switzerland, Johann Schneider, of Iceland, Gunnar Bragi Sveinsson, and Liechtenstein, Aurelia Frick.

Costa Rican Gonzalez said in a statement from Norway that this treaty is “a strategic component in our business process approach to Europe” and that “provides significant opportunities to increase and diversify exports.”

According to the Costa Rican authorities, the EFTA, gross domestic product per capita average of $ 47,000, provides opportunities for products such as tropical fruits, coffee, flowers, vegetables, industrial goods and medical instruments among others.

The negotiation of this agreement began in February 2012 and, upon signature, be forwarded to the respective congresses for approval.

In the last decade, trade with the EFTA Costa Rica increased from $ 64.8 million in 2002 to 161 million in 2012.

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