Three years ago, Costa Rica decided to sign the Association Agreement with the European Union (EU). 180 new, Costa Rican companies took the chance and now, they are in many European countries.
However, even though new companies entered to compete, the country’s exports did not grow: they went from $ 2,034 million dollars to $ 1,786 million.
Authorities from Promotora de Comercio Exterior (PROCOMER) argued that numbers don’t matter, since increasing the added-value tax and innovating in exports is more important.
Some of the products that Costa Ricans didn’t export before, but they do now are:
-Paper pulp articles.
-Pickled jalapeño.
-Dust particle counters for environmental measurements in factories and offices.
-Lighting sets for Christmas trees.
-Powdered-prepared drinks.
Andrés Gamboa Noguera, executive director from the Cámara Exportadora de Costa Rica, said that the supply has changed and it’s constantly innovating due to the Free Trade Agreement.
Companies had to meet the most stringent sanitary and phytosanitary regulations and this allows the possibility of exporting not only to the European Union (EU), but to any other market.
The trade balance remains positive between Costa Rica and the European Union (EU): exports exceed imports in the last 5 years.
The EU is Costa Rica’s third largest export market (19%). The first one is North America (40%) and the second one is Central America (24%).