CONTINUEThis site uses cookies. By continuing to browse this site you are agreeing to our use of cookies. Find out more.
  1. Front Page
  2. News By Topic
  3. Costa Rica-Peru Free Trade Agreement Enters Into Force

Costa Rica-Peru Free Trade Agreement Enters Into Force

Mike Godfrey, New York

07 June 2013


Costa Rica announced on June 4, 2013 that its free trade agreement with Peru came into effect on June 1st, eventually removing tariffs on 80 percent of products.

The Costa Rican Foreign Trade Minister, Anabel Gonzalez, said in a statement that the treaty especially benefits small and medium enterprises, as well as consumers, who will be able to access a wider range of products at competitive prices.

The Peruvian products that will immediately be made duty-free include turkey, sardines, evaporated milk, artichokes, garlic, mangoes, tangerines, lemons, grapes and paprika.

Meanwhile, the Tico products set to benefit from the FTA are chocolates, tea, milk-based drinks and powdered drinks.

Data from the Foreign Trade Ministry indicates that Costa Rica's exports to Peru were worth USD64m in 2012, while Peru's exports to Costa Rica totaled USD46.2m.

Gonzalez also said in his press release that the FTA marks a great step forward in Costa Rica's bid to join the Pacific Alliance.

Costa Rica was recently granted approval to join the Pacific Alliance, a trade bloc formed last year by Chile, Colombia, Mexico and Peru, on the condition that it forms free-trade deals with all members.

TAGS: tax | Chile | tariffs | Colombia | Mexico | excise duty | Costa Rica | Peru | import duty | trade

To see today's news, click here.

 















Tax-News Reviews

Cyprus Review

A review and forecast of Cyprus's international business, legal and investment climate.

Visit Cyprus Review »

Malta Review

A review and forecast of Malta's international business, legal and investment climate.

Visit Malta Review »

Jersey Review

A review and forecast of Jersey's international business, legal and investment climate.

Visit Jersey Review »

Budget Review

A review of the latest budget news and government financial statements from around the world.

Visit Budget Review »



Stay Updated

Please enter your email address to join the Tax-News.com mailing list. View previous newsletters.

By subscribing to our newsletter service, you agree to our Terms and Conditions and Privacy Policy.


To manage your mailing list preferences, please click here »