Trade treaty with European Union given unanimous approval

Lawmakers have approved unanimously a treaty between Central America and the European Union. The treaty basically means products from Central America will be able to enter the European market without custom duties.

The Minsiterio de Comercio Exterior estimates that Europe gets about 18 percent of the country’s exports. Much of the exports are bananas, coffee, concentrated juice, melons, pineapples and plants.

The European Union noted that the agreement was reached in 2011 and signed it in 2012. 

This closer economic integration between the countries of the 

Central American region is important for attracting investment to the region and helping local businesses develop the strength in their regional market to compete internationally, the European Union has said. 

Producers of some products receive an increase in the quota. 

That includes sugar producers, cattle producers and rice farmers. The European union already has approved the treaty as have most of the Central American states.

Also Monday the free trade treaty between Central America and México entered into force, the commerce ministry said.

This entry was posted in Costa Rica News. Bookmark the permalink.