EU maintains trade benefits for Tico products

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Costa Rica is on a list of countries that will maintain trade benefits in European countries, according to a report released Wednesday by the European Union.

Bananas are one of the most important products that will maintain tariff advantages to enter European nations, but Costa Rica hopes that an Association Agreement with the EU, scheduled to start in January 2013, also will create new opportunities to enter the European market for products such as sugar, meat, yuca and textiles.

The EU is the second-largest trading partner for Costa Rica. In 2011, exports totaled some $1.8 billion, representing 19 percent of total exports. The number of products exported to Europe was 806, from 547 companies, according to the Foreign Trade Ministry.

A total of 12 nations will leave the European system of benefits known as Generalized System of Preferences, after having been cataloged in recent years as economies of upper-middle income by the World Bank.

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Costa Rican exports increase by 8.4 percent in first three quarters of 2012

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Most buyers of Tico exports are countries with free trade agreements with Costa Rica.

The value of Costa Rican exports increased by 8.4 percent in the first nine months of this year, totaling $8.5 billion, the Foreign Trade Ministry (COMEX)

Recent figures show consistent growth in exports of free-zone and agricultural products.

According to COMEX, countries with free trade agreements with Costa Rica account for 68 percent of Tico exports so far this year. Costa Rican exports to those countries increased by 8.9 percent in the first three quarters, from $5.2 billion during the same period in 2011 to $5.7 billion this year.

North America (the United States and Canada) is the main destination for Costa Rican exports, accounting for 42.5 percent of total exports (an 8.8 percent increase from 2011). Next is the European Union, with 18.1 percent (a 6.9 percent increase), Central America, with 14 percent (a 6.4 percent increase), and Asia, with 12.8 percent (a 24.6 percent increase).

Central Bank projections show the country is on track to meet – and likely surpass – this year’s export target, estimated at $15.8 billion in goods and services.

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COSTA RICA AND EUROPEAN UNION CREATE A PROJECT TO HELP ENTREPRENEUR WOMEN IN RURAL COMMUNITIES.

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The European Union and the government of Costa Rica have announced the creation of the project “Emprende,” which will provide entrepreneur women from rural communities the resources they need to start their own business.

The project will be developed in 60 days and it represents and investment of €5.5 millions.

This project is aimed at strengthening the entrepreneurial skills of women from rural and marginal urban areas and helping them maximize their business potential. “Emprende” will focus on three aspects: the promotion of small and medium business, the promotion of their economic rights, and the mainstreaming of gender to boost territorial development.

This project will be implemented in the Chorotega, Huetar Atlantic and Central Pacific regions.

The project will be implemented with the support of the Ministry of Foreign Affairs (coordinator of the project), the Ministry of Agriculture and Cattle (MAG), the Ministry of Economy, Industry and Commerce (MEIC) and the National Institute of Women (INAMU).

Costa Developers