Which of the Following Trade Agreements Includes Costa Rica?
As globalization continues to shape the world`s economy, countries across the globe are seeking out trade agreements to enhance their economic ties and gains. Costa Rica, a Central American nation with a population of over five million people, has taken part in various trade agreements, boosting its economy and increasing its global presence.
So, which of the following trade agreements includes Costa Rica? Here is a rundown of the relevant trade agreements the country has joined.
1. Central America-Dominican Republic Free Trade Agreement (CAFTA-DR):
CAFTA-DR is a free trade agreement between the United States and six other countries in the Central American region, including Costa Rica. The agreement eliminates tariffs on all industrial goods and agricultural products, while also covering areas such as intellectual property, labor laws, and environmental protection.
2. Pacific Alliance:
The Pacific Alliance is a regional trade agreement between four Latin American countries, including Chile, Colombia, Mexico, and Peru. Costa Rica joined the alliance as a full member in 2019, expanding its trade relations beyond the Central American region. The agreement aims to promote free trade, cooperation, and integration in the Pacific region, with a focus on issues such as education, innovation, and entrepreneurship.
3. Association of Caribbean States (ACS):
The ACS is a trade agreement that aims to promote sustainable economic development and trade cooperation among its 25 member countries in the Caribbean region, including Costa Rica. The agreement covers issues such as trade policies, investment, and tourism, while also promoting cultural exchanges and environmental conservation.
4. Central American Integration System (SICA):
SICA is an economic and political organization that aims to promote regional integration and cooperation among its member countries in Central America and the Dominican Republic, including Costa Rica. The agreement covers areas such as trade, transportation, and communication, while also addressing issues such as climate change, natural disasters, and security.
In conclusion, Costa Rica has joined several trade agreements, including CAFTA-DR, Pacific Alliance, ACS, and SICA, which have contributed to the country`s economic growth and global integration. These trade agreements have also boosted the country`s exports and created job opportunities for its citizens, making Costa Rica a significant player in the global economy.