Accord with European Union receives legislative OK

The legislature has given initial approval to the trade agreement between Central America and the European Union.

This is a pact that has strong support from the commercial sector.

The Ministerio de Comercio Exterior said that if the agreement can be ratified by July 15, it could enter into force Aug. 1.

The European Parliament approved the agreement in December. Honduras, Nicaragua and Panamá also approved the pact. The agreement is in the legislatures in Guatemala and El Salvador.

The European Union is second in importance to Costa Rican exporters after the United States. In 2012 the exports to Europe totaled $2 billion or 19.1 percent of total exports.

The agreement has been in the legislature since September.

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