February 12, 2010

Costa Rica's meat segment to benefit from FTA with China

China and Costa Rica are finalising a free trade agreement, to be signed within months, and the deal is expected to boost the Central American country's meat exports.

The deal will lift nearly all tariffs on Costa Rican meat and food products to China. The agreement, negotiated over more than a year, would open up opportunities to boost exports to China and investment from the fast-growing Asian economy.

A free trade agreement took effect on January 1 between China and the 10-member Association of Southeast Asian Nations (ASEAN). In Latin America, China has trade deals also with resource-rich Chile and Peru.

China is the second biggest commercial partner with the Costa Rica after the US.