LatinNews Daily - 09 August 2022

In brief: Costa Rica and Ecuador begin FTA talks

* Costa Rica and Ecuador have begun negotiations for a free trade agreement (FTA), following on from informal talks between Costa Rica’s President Rodrigo Chaves and his Ecuadorean counterpart Guillermo Lasso in June on the side-lines of the Summit of the Americas (SoA). At the meeting, the presidents agreed to begin bilateral talks regarding an FTA. Today (9 August), Costa Rica’s foreign trade minister, Manuel Tovar, tweeted that the first round of talks was taking place with Ecuador’s ambassador to Costa Rica, Bolívar Cevallos. The talks are expected to continue virtually until 12 August. Trade between Costa Rica and Ecuador totalled US$76.47m in 2021, with exports from Costa Rica to Ecuador totalling US$51.43m and Ecuador’s exports to Costa Rica equating to US$25.03m. This FTA would be Costa Rica’s fourth with a South American country, adding to deals with Colombia, Peru and Chile.

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