Free Trade Agreement BetweenMexico and Costa Rica
The Costa Rican economy ranks second among the 7 countries of Central America
After Guatemala, and globally has the position 84. The IMF estimates that in 2007 theGDP of Costa Rica totaled 26.2 billion dollars.
Mexico has a free trade market economy oriented towards exports. It is the second largest in Latin America, and is the third largest economy afterUnited States and Brazil.
Discussions towards a free trade agreement began in January 1991, when the presidents of Costa Rica, El Salvador, Guatemala, Honduras, Nicaragua and Mexico signed theDeclaration of Tuxtla Gutiérrez, which provided a framework for trade relations between Central American countries and Mexico.
In February of 1991, Costa Rica and Mexico began preliminary meetings to exchangeinformation and to discuss means of deepening and facilitating trade. Negotiations with Costa Rica began in April 1993. The scope of negotiations widened from a focus on goods to include other areassuch as services, investment, intellectual property, and government procurement. The agreement was signed on 5 April 1994 in Mexico City, Mexico.
Evolution of the Agreement
Costa Rica accountsfor 10.5% of the total population of Central America, with approximately 4.4 million of population.
The Free Trade Agreement Between Mexico and Costa Rica, is the first one bilateral agreement ofCosta Rica, and also represent the first agreement negotiated by two Latin-American countries.
Trade between Mexico and Costa Rica has increased by 206%; From 466.3 to 1,427.5 md last year, whichrep-resents an average annual growth rate of 18.6%.
The Free Trade Agreement Between Mexico and Costa Rica, is the first one bilateral agreement of Costa Rica, and also represent the first agreement...