Caribbean & Central America - May 2007 (ISSN 1741-4458)
COSTA RICA: ECONOMIC OVERVIEW
In 2006 the country's exports came to US$8.2bn. The foreign trade minister, Marco Vinicio Ruiz, set a target of increasing this to US$18bn by 2010. This will mean that exports will have to increase at an average rate of 22% a year over the next four years. In 2006 they were 17% higher than in 2005.
Ruiz argues that the ratification of the free trade agreement with the US (Cafta-DR) will help. The government has agreed to submit the deal to a national referendum, though it is now unclear when the referendum will take place. He added that freezones should get a boost from a new law which conforms to new rules drawn up by the World Trade Organization. A third boost should come from a trade agreement with the European Union.