LatinNews Daily - 08 March 2019

* Costa Rica’s unicameral national congress has ratified a free trade agreement (FTA) that was signed between Central American countries and South Korea last year. Costa Rica’s ministry of foreign trade (Comex) welcomed the ratification of the FTA, noting that it will serve “as a tool to promote greater exports, investment and cooperation between the two parties, thus achieving the strengthening of our commercial relationship with an economy which is a world leader in innovation”. According to Comex, the FTA will eliminate tariffs on 80% of Costa Rican export products destined for the Korean market, including coffee, sugar, pharmaceuticals and manufactured plastic, iron, and glass products. Tariffs will be gradually decreased on 16% of exports, including bananas and pineapples, while 4% of Costa Rican export products will remain subject to existing tariffs. The FTA must now be signed off by President Carlos Alvarado to come into force.  

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