Country moves step closer to European Union deal

Costa Rica has been approved for entry into the trade agreement between Central America and the European Union by the permanent representatives in the Council of the EU.

The final step will be approval by the council itself, which is expected in time for the agreement to enter into force Tuesday. That final OK may take place today or Friday, according to Anabel González, the  minister of Comercio Exterior.

The ministry noted that the European Union is the second most important market for Costa Rica for trade and investment.

Costa Rica exported $2.1 billion to the EU in 2012 and imported $1.2 billion.

Direct investment in 2010 was $485 million.

The trade pact is expected to open new opportunities for firms in Costa Rica and also foster regional integration, said the ministry.

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