Costa Rica
Costa RicaFriday, July 20, 2007
Costa Rica Doing Better than Countries that implemented CAFTA
Eyes on Trade: Costa Rica Doing Better than Countries that implemented CAFTA: "Umberto Mazzei has a pretty damning analysis of how Costa Rica is thriving without CAFTA, while Guatemala is suffering with CAFTA.
The message is overwhelming: [Guatemala] 'sacrificed' itself to the Free Trade Agreement (FTA) with the United States for nothing. The CAFTA model, pushing the Central American economy toward the export of non-traditional goods to the United States, has been a pretext for imposing expensive foreign pharmaceuticals as opposed to cheap, national generic drugs, overwhelming the peasant farmer with subsidized imports, and granting extra-territorial jurisdiction to foreign companies.
Non-traditional exports in Guatemala have decreased instead of increasing—contrary to the objectives of CAFTA. In Costa Rica, which remains outside CAFTA, exports of new products and markets have grown. All indicates that the privileged share in an FTA with the United States is more a hindrance than a help.
This comes a few months before Costa Ricans vote in the world's first ever referendum on a trade deal. If you're in DC next Wednesday morning, you might want to check out this debate between the U.S. Chamber of Commerce and Otton Solis, the fair trader who nearly became Costa Rica's president."
The message is overwhelming: [Guatemala] 'sacrificed' itself to the Free Trade Agreement (FTA) with the United States for nothing. The CAFTA model, pushing the Central American economy toward the export of non-traditional goods to the United States, has been a pretext for imposing expensive foreign pharmaceuticals as opposed to cheap, national generic drugs, overwhelming the peasant farmer with subsidized imports, and granting extra-territorial jurisdiction to foreign companies.
Non-traditional exports in Guatemala have decreased instead of increasing—contrary to the objectives of CAFTA. In Costa Rica, which remains outside CAFTA, exports of new products and markets have grown. All indicates that the privileged share in an FTA with the United States is more a hindrance than a help.
This comes a few months before Costa Ricans vote in the world's first ever referendum on a trade deal. If you're in DC next Wednesday morning, you might want to check out this debate between the U.S. Chamber of Commerce and Otton Solis, the fair trader who nearly became Costa Rica's president."
Labels: cafta, central america, costa rica, politics, san jose
Guatemala Costa Rica CAFTA
IRC Americas Program | Guatemala and Costa Rica: In and Out of CAFTA: "'Foreign exchange for traditional exports is increasing' announced the Periódico de Guatemala on April 25. It reported that the Bank of Guatemala announced an increase of 11.8% in traditional exports—sugar, coffee, bananas, cardamom—up to US$551.4 million. Furthermore, exports of industrial products—with added value—to Central America, grew by 43.8%. Finally, 'the revenue of foreign exchange from non-traditional exports registered a slight decrease of 0.9% compared to 2006, attributable to a dip in foreign sales of clothing, molasses, and rubber, totaling US$482 million.'
It was a short, but eloquent, announcement: after nearly a year in CAFTA's orbit, the same traditional exports as always are growing, outside of the Central American Free Trade Agreement (CAFTA). The message is overwhelming: the country 'sacrificed' itself to the Free Trade Agreement (FTA) with the United States for nothing. The CAFTA model, pushing the Central American economy toward the export of non-traditional goods to the United States, has been a pretext for imposing expensive foreign pharmaceuticals as opposed to cheap, national generic drugs, overwhelming the peasant farmer with subsidized imports, and granting extra-territorial jurisdiction to foreign companies. The growth in exports being celebrated by the Bank of Guatemala has nothing t"
It was a short, but eloquent, announcement: after nearly a year in CAFTA's orbit, the same traditional exports as always are growing, outside of the Central American Free Trade Agreement (CAFTA). The message is overwhelming: the country 'sacrificed' itself to the Free Trade Agreement (FTA) with the United States for nothing. The CAFTA model, pushing the Central American economy toward the export of non-traditional goods to the United States, has been a pretext for imposing expensive foreign pharmaceuticals as opposed to cheap, national generic drugs, overwhelming the peasant farmer with subsidized imports, and granting extra-territorial jurisdiction to foreign companies. The growth in exports being celebrated by the Bank of Guatemala has nothing t"
Labels: cafta, central america, costa rica
Wednesday, July 18, 2007
DR-CAFTA Trading Arguments
Truth About Trade & Technology - Trading Arguments: "He won't even need to change his slogan. Oscar Arias narrowly won election as president last year under the bland banner of 'Costa Rica, Si!' That embraced the main issue of the campaign: a free-trade agreement with the United States encompassing Central America and the Dominican Republic, and known as DR-CAFTA. Mr Arias championed this, but his chief rival, Otton Solis, who lost by just 18,169 votes, opposed it. Having faced filibustering in Congress, Mr Arias wants a referendum to ratify DR-CAFTA. Now the country's courts have given the go-ahead. The referendum will be held on October 7th and Mr Arias is campaigning again: 'I am the face of 'Si',' he says.
Costa Rica is the only signatory country not to have ratified the trade accord, which has come into force elsewhere in Central America. The referendum will be very close fought. Opinion polls give the 'Si' camp a narrow lead, but many respondents are undecided.
Opposition to the trade deal is multi-faceted. Part of it stems simply from dislike of George Bush's United States. But some of the agreement's provisions are controversial. Unions oppose a requirement to open up to competition the country's telecommunications and insurance industries, both of which are state monopolies.
Mr Solis, a minister in Mr Arias's previous government in the 1980s, insists that he is"
Costa Rica is the only signatory country not to have ratified the trade accord, which has come into force elsewhere in Central America. The referendum will be very close fought. Opinion polls give the 'Si' camp a narrow lead, but many respondents are undecided.
Opposition to the trade deal is multi-faceted. Part of it stems simply from dislike of George Bush's United States. But some of the agreement's provisions are controversial. Unions oppose a requirement to open up to competition the country's telecommunications and insurance industries, both of which are state monopolies.
Mr Solis, a minister in Mr Arias's previous government in the 1980s, insists that he is"
Labels: cafta, central america, costa rica, costarica, san jose
Sunday, July 15, 2007
telecoms sector liberalization
Business News Americas - Latin America's Business Information Leader: "Costa Rican telecoms and IT chamber Camtic believes the highest priority in preparing the telecoms sector for liberalization is the creation of a suitable regulator, Camtic president Alexander Mora told BNamericas.
For the transition to a completely liberalized market to truly benefit consumers the changes that come have to go much further than just turning a state monopoly into a private monopoly, he said.
'The most important issue of the telecoms liberalization is the overall regulation... we need a regulator with teeth and claws,' Mora said.
Regulations at this moment only address state-owned multiservices monopoly ICE, meaning that the rest of the sector is left without control of any sort, Mora said. But congress is now discussing new regulations as part of the legal changes required for the country to comply with the forthcoming Cafta agreement with the US.
Currently two important bills sit waiting to be debated in Costa Rica's congress, one specifically addresses how to improve the efficiency and services of ICE's telecoms business ahead of liberalization. ICE currently controls the fixed line and mobile segments. The other bill deals with actual regulatory changes, among them the creation of an independent telecoms regulator.
However, legislators first await the outcome of a referendum "
For the transition to a completely liberalized market to truly benefit consumers the changes that come have to go much further than just turning a state monopoly into a private monopoly, he said.
'The most important issue of the telecoms liberalization is the overall regulation... we need a regulator with teeth and claws,' Mora said.
Regulations at this moment only address state-owned multiservices monopoly ICE, meaning that the rest of the sector is left without control of any sort, Mora said. But congress is now discussing new regulations as part of the legal changes required for the country to comply with the forthcoming Cafta agreement with the US.
Currently two important bills sit waiting to be debated in Costa Rica's congress, one specifically addresses how to improve the efficiency and services of ICE's telecoms business ahead of liberalization. ICE currently controls the fixed line and mobile segments. The other bill deals with actual regulatory changes, among them the creation of an independent telecoms regulator.
However, legislators first await the outcome of a referendum "
Labels: cafta, central america, costa rica, politics, san jose
Referendum binding if 40 percent vote
Costa Rica CAFTA Referendum Conditional - Prensa Latina: "The Costa Rican Supreme Electoral Court (TSE) ruled on Thursday that the result of a referendum on the free trade agreement with the United States will only be binding if 40 percent of electors vote.
The figure, equivalent to 1.6 million people, was announced by TSE Secretary Alejandro Bermudez as he officially convoked the first popular consultation in Costa Rican history.
Bermudez explained that the process will be held on October 7 and that most of the 2.65 million registered voters are expected to attend.
If the set minimum go to the polls, participants will be able to decide the future of the controversial agreement known as the Central American-Dominican Republic Free Trade Agreement.
The issue has divided the country: while most people insist on its illegitimacy, its promoters are spending heavily on a media campaign to convince the public of the necessity to agree in order to boost development."
The figure, equivalent to 1.6 million people, was announced by TSE Secretary Alejandro Bermudez as he officially convoked the first popular consultation in Costa Rican history.
Bermudez explained that the process will be held on October 7 and that most of the 2.65 million registered voters are expected to attend.
If the set minimum go to the polls, participants will be able to decide the future of the controversial agreement known as the Central American-Dominican Republic Free Trade Agreement.
The issue has divided the country: while most people insist on its illegitimacy, its promoters are spending heavily on a media campaign to convince the public of the necessity to agree in order to boost development."
Labels: cafta, central america, costa rica, politics, san jose
Saturday, July 14, 2007
CAFTA Votes
Agencia Informativa Latinoamericana Prensa Latina S.A.: "An additional budget request by the Costa Rican government includes over 5 billion colons ($10 million) which may be allocated to promote the free trade agreement with the US in the October referendum, legislative sources said.
Frente Amplio Deputy Jose Merino said the project sent to the Legislative Assembly does not specify the destination of the said amount, so it may be allocated as the authorities wish.
Since the Supreme Electoral Court rejects offering democratic guarantees for a clean, honest referendum about the agreement, the government continues pushing up public spending in a campaign in its favor, he denounced.
President Oscar Arias, ministers and deputies offer housing bonds, scholarships, pensions and other public resources, all from taxpayers' money, in exchange for votes of YES in the consultation in this regard, he declared.
The possible addition of large State resources to this strategy is illegal and immoral, said Merino.
In the plan, he commented, the largest sums are allocated to Ministries of Labor and Interior for transfer to associations, foundations and municipal governments, without specifying beneficiaries, quantities, or what the money will be used for.
According to Merino, this bill does not comply with the principle of budget planning, because it"
Frente Amplio Deputy Jose Merino said the project sent to the Legislative Assembly does not specify the destination of the said amount, so it may be allocated as the authorities wish.
Since the Supreme Electoral Court rejects offering democratic guarantees for a clean, honest referendum about the agreement, the government continues pushing up public spending in a campaign in its favor, he denounced.
President Oscar Arias, ministers and deputies offer housing bonds, scholarships, pensions and other public resources, all from taxpayers' money, in exchange for votes of YES in the consultation in this regard, he declared.
The possible addition of large State resources to this strategy is illegal and immoral, said Merino.
In the plan, he commented, the largest sums are allocated to Ministries of Labor and Interior for transfer to associations, foundations and municipal governments, without specifying beneficiaries, quantities, or what the money will be used for.
According to Merino, this bill does not comply with the principle of budget planning, because it"
Labels: cafta, central america, costa rica, politics, san jose
Tuesday, July 10, 2007
Free trade advances liberty, equality
Detroit News Online Printer-friendly article page: "Fr. Robert Sirico
Every few years, a new round of trade negotiations hits the news, and the same debate takes place on the merits of free trade. But this time around, as we discuss a new round of trade relaxations between the U.S. and Latin America, there is an added element.
The religious left has entered to argue against free trade on grounds that it is incompatible with humanitarian concerns. Somehow, they argue, free trade rewards large corporations at the expense of all workers in all countries. They say that free trade amounts to a kind of American imperialism.
For example, a number of Catholic clerics in Costa Rica have weighed in against a free trade agreement with the U.S. on grounds that the agreement as it stands does not have a 'human face.'
I admit that I can't follow their logic. The case for free trade between nations is no different than between you and your local grocery store. All parties to the exchange benefit. What is to be gained by preventing exchanges that people want to make from taking place? Who could possibly benefit from that?
Harming consumers
Well, there is an answer to this question but it is not the one that the religious left expects. The beneficiaries are large corporations that want to prevent foreign competiti"
Every few years, a new round of trade negotiations hits the news, and the same debate takes place on the merits of free trade. But this time around, as we discuss a new round of trade relaxations between the U.S. and Latin America, there is an added element.
The religious left has entered to argue against free trade on grounds that it is incompatible with humanitarian concerns. Somehow, they argue, free trade rewards large corporations at the expense of all workers in all countries. They say that free trade amounts to a kind of American imperialism.
For example, a number of Catholic clerics in Costa Rica have weighed in against a free trade agreement with the U.S. on grounds that the agreement as it stands does not have a 'human face.'
I admit that I can't follow their logic. The case for free trade between nations is no different than between you and your local grocery store. All parties to the exchange benefit. What is to be gained by preventing exchanges that people want to make from taking place? Who could possibly benefit from that?
Harming consumers
Well, there is an answer to this question but it is not the one that the religious left expects. The beneficiaries are large corporations that want to prevent foreign competiti"
Labels: cafta, central america, costa rica, politics, san jose
Friday, July 6, 2007
Dominican Republic DR-CAFTA
Print Article: "Dominican Republic still has some 10 commitments pending to fully access the Free Trade Agreement signed with the United States and Central America (DR-CAFTA), and for that reason confronts a situation defined as 'serious' against its other competitors.
Industry and Commerce chief Trade negotiator Vilma Arbaje said yesterday the country must comply with pending issues as soon as possible, including individual commitments with the Central American countries.
Although the country formalized its entry in the DR-CAFTA in March, those diverse pending commitments would prevent the national productive sectors from benefiting.
Among Arbaje cited the rules of origin for textile merchandise and garments, the mutual recognition of sanitary registry for medicines and which currently has only with Honduras, and still pending with Costa Rica, Nicaragua, Guatemala and El Salvador.
Also, approval of the list of national and non-national referees of the DR-CAFTA, update of the people in charge of the treaty’s different committees, bilateral negotiation with Costa Rica for chicken breasts and milk, as the agreement stipulates, as well as the exchange of information on validation procedure in the agreement applied to Dominican Republic.
Arbaje, quoted by the newspaper El Dia, said the obstacles also include a “very sensible aspect,"
Industry and Commerce chief Trade negotiator Vilma Arbaje said yesterday the country must comply with pending issues as soon as possible, including individual commitments with the Central American countries.
Although the country formalized its entry in the DR-CAFTA in March, those diverse pending commitments would prevent the national productive sectors from benefiting.
Among Arbaje cited the rules of origin for textile merchandise and garments, the mutual recognition of sanitary registry for medicines and which currently has only with Honduras, and still pending with Costa Rica, Nicaragua, Guatemala and El Salvador.
Also, approval of the list of national and non-national referees of the DR-CAFTA, update of the people in charge of the treaty’s different committees, bilateral negotiation with Costa Rica for chicken breasts and milk, as the agreement stipulates, as well as the exchange of information on validation procedure in the agreement applied to Dominican Republic.
Arbaje, quoted by the newspaper El Dia, said the obstacles also include a “very sensible aspect,"
Labels: cafta, central america, costa rica, costarica, politics, san jose
Tuesday, July 3, 2007
CAFTA-DR Referendum
Agencia Informativa Latinoamericana Prensa Latina S.A.: "Costa Rica's Supreme Court Constitutional Courtroom considered on Tuesday that the free trade agreement with the United States may be subject to referendum, as it does not violate the Constitution.
These conclusions were made public after the analysis of the agreement requested by Costa Rica's Ombudsman and deputies who oppose the agreement.
In May, 19 congress people presented a 130-page document 'Constitutional Frictions of the FTA,' explaining why the pact will affect Costa Ricans negatively.
Today's court ruling allows the Supreme Electoral Court to officially call a referendum for Costa Ricans to approve or reject the CAFTA-DR (Central American Free Trade Agreement, plus Dominican Republic), scheduled for October 7.
President Oscar Arias and business sectors say the agreement will create thousands of jobs and attract foreign investment.
However, a recent study by Judge Mauricio Castro and sociologist Juliana Martinez warns that if the agreement is approved, 3,120 jobs will be created every year, but between 60,000 and 60,000 Costa Ricans will be without a job every year."
These conclusions were made public after the analysis of the agreement requested by Costa Rica's Ombudsman and deputies who oppose the agreement.
In May, 19 congress people presented a 130-page document 'Constitutional Frictions of the FTA,' explaining why the pact will affect Costa Ricans negatively.
Today's court ruling allows the Supreme Electoral Court to officially call a referendum for Costa Ricans to approve or reject the CAFTA-DR (Central American Free Trade Agreement, plus Dominican Republic), scheduled for October 7.
President Oscar Arias and business sectors say the agreement will create thousands of jobs and attract foreign investment.
However, a recent study by Judge Mauricio Castro and sociologist Juliana Martinez warns that if the agreement is approved, 3,120 jobs will be created every year, but between 60,000 and 60,000 Costa Ricans will be without a job every year."
Labels: cafta, central america, costa rica, costarica, politics, san jose
Wednesday, June 6, 2007
CAFTA Referendum Postponed
CAFTA Referendum in Costa Rica Postponed: "By Katherine Stanley
Tico Times Staff | kstanley@ticotimes.net
The Supreme Elections Tribunal (TSE) announced yesterday that it is postponing a nationwide referendum on the Central American Free-Trade Agreement with the United States (CAFTA) from Sept. 23 to Oct. 7 as a high court examines whether the assembly violated its procedures in its handling of legislation related to the pact.
Should the justices of the Constitutional Chamber of the Supreme Court (Sala IV) find errors in the procedure, the Tribunal would have to call off the referendum, according to TSE interim president Luis Antonio Sobrado.
“It's an unexpected circumstance… one that couldn't have been evaluated in advance,” he told reporters yesterday afternoon.
The cause of that circumstance: a request for a constitutional consulta filed by a group of legislators from the Citizen Action Party (PAC), which leads the fight against the trade pact, and other factions. The Sala IV announced June 1 that it would accept the legislators' request, combining it with a previous request for constitutional review of CAFTA from Ombudswoman Lisbeth Quesada; the court is expected to respond to both consultations by July 5.
The"
Tico Times Staff | kstanley@ticotimes.net
The Supreme Elections Tribunal (TSE) announced yesterday that it is postponing a nationwide referendum on the Central American Free-Trade Agreement with the United States (CAFTA) from Sept. 23 to Oct. 7 as a high court examines whether the assembly violated its procedures in its handling of legislation related to the pact.
Should the justices of the Constitutional Chamber of the Supreme Court (Sala IV) find errors in the procedure, the Tribunal would have to call off the referendum, according to TSE interim president Luis Antonio Sobrado.
“It's an unexpected circumstance… one that couldn't have been evaluated in advance,” he told reporters yesterday afternoon.
The cause of that circumstance: a request for a constitutional consulta filed by a group of legislators from the Citizen Action Party (PAC), which leads the fight against the trade pact, and other factions. The Sala IV announced June 1 that it would accept the legislators' request, combining it with a previous request for constitutional review of CAFTA from Ombudswoman Lisbeth Quesada; the court is expected to respond to both consultations by July 5.
The"
Labels: cafta, central america, costa rica, costarica, san jose
Monday, June 4, 2007
CAFTA Review
Online Daily update to The Tico Times Weekly Edition Newspaper, Gays in Costa Rica Call for End to Discrimination, Costa Rica Finishes First Four Months of Year With Slight Financial Surplus: "At the request of a group of legislators, the Constitutional Chamber of the Supreme Court (Sala IV) will review a controversial trade pact before Costa Rican citizens vote on it, according to a statement released Friday by the Judicial Branch.
These 19 legislators -- most of whom are from the Citizen Action Party (PAC) – asked on May 24 that the court review the Central American Free-Trade Agreement with the United States (CAFTA), arguing that parts of it are unconstitutional. The justices have 30 days to rule on this matter.
Additionally, the Sala IV is studying a similar consulta presented by Ombudsman Lisbeth Quesada April 27 in which she expressed concern over CAFTA's lack of consideration for human rights.
The court plans to make its ruling on CAFTA before a popular referendum tentatively scheduled for Sept. 23. The Supreme Elections Tribunal (TSE) has not commented on what it would mean for the referendum if the court rules that parts of CAFTA are unconstitutional, according to the daily La Nación.
In a statement released by Casa Presidencial Friday, Presidency Minister Rodrigo Arias declared his “total respect” for the court's decision to accept the legislators' re"
These 19 legislators -- most of whom are from the Citizen Action Party (PAC) – asked on May 24 that the court review the Central American Free-Trade Agreement with the United States (CAFTA), arguing that parts of it are unconstitutional. The justices have 30 days to rule on this matter.
Additionally, the Sala IV is studying a similar consulta presented by Ombudsman Lisbeth Quesada April 27 in which she expressed concern over CAFTA's lack of consideration for human rights.
The court plans to make its ruling on CAFTA before a popular referendum tentatively scheduled for Sept. 23. The Supreme Elections Tribunal (TSE) has not commented on what it would mean for the referendum if the court rules that parts of CAFTA are unconstitutional, according to the daily La Nación.
In a statement released by Casa Presidencial Friday, Presidency Minister Rodrigo Arias declared his “total respect” for the court's decision to accept the legislators' re"
Labels: cafta, central america, costa rica, costarica, san jose
Thursday, May 31, 2007
CAFTA Read Fine Print
Don't Forget to Read the Trade Deal's Fine Print - Embassy - Newspaper Online.: "The Costa Rican Supreme Court has announced plans to review the United States- Central American Free Trade Agreement (CAFTA) to assess the impact of that agreement upon civil liberties and human rights.
Meanwhile, Costa Ricans will get a chance to vote in a national referendum on whether to approve the agreement.
It's rare that trade agreements are subjected to such searching scrutiny–much less forced to steer between a gauntlet of the courts and the electorate.
A generation ago, former Canadian trade minister John Crosbie could idly boast that he had not bothered to read the Canada-U.S. Free Trade Agreement–even as he encouraged Parliament to adopt it.
These days, that kind of talk could get you impeached in parts of Latin America, where politicians, the courts and even ordinary citizens are reaching for their reading glasses.
A big part of the reason for the heightened scrutiny of such deals is that 'free trade agreement' has become an outdated misnomer.
Sure, 'free trade' agreements remove barriers to the flow of goods between countries–but they do much more as well.
'Free trade' agreements may dictate which sectors of an economy will be opened to foreign takeovers. They may dictate domestic public policies for sensitive "
Meanwhile, Costa Ricans will get a chance to vote in a national referendum on whether to approve the agreement.
It's rare that trade agreements are subjected to such searching scrutiny–much less forced to steer between a gauntlet of the courts and the electorate.
A generation ago, former Canadian trade minister John Crosbie could idly boast that he had not bothered to read the Canada-U.S. Free Trade Agreement–even as he encouraged Parliament to adopt it.
These days, that kind of talk could get you impeached in parts of Latin America, where politicians, the courts and even ordinary citizens are reaching for their reading glasses.
A big part of the reason for the heightened scrutiny of such deals is that 'free trade agreement' has become an outdated misnomer.
Sure, 'free trade' agreements remove barriers to the flow of goods between countries–but they do much more as well.
'Free trade' agreements may dictate which sectors of an economy will be opened to foreign takeovers. They may dictate domestic public policies for sensitive "
Labels: cafta, central america, costa rica, costarica, san jose, travel
CAFTA
Latin Business Chronicle: "Costa Rica is seeing strong economic and trade growth and a boost in foreign investments, but uncertainty around CAFTA.
BY JOACHIM BAMRUD
Cesar Trujillo is bullish on Costa Rica. As general manager in Costa Rica for Hewlett-Packard, the world's largest PC manufacturer, he supervises an operation that has gone from 400 employees to nearly 5,000 in less than four years. HP is so happy with Costa Rica that it has opened two separate offices there. One for sales and marketing for Central America and the other offering global outsourcing services to the corporate clients.
'Costa Rica continues to become a major hot-spot for multinational companies looking to establish their operations centers in the Central American region,' he says.
Foreign direct investment last year grew by a whopping 66.8 percent to $1.4 billion. That was more than the other four Central American nations combined. It was also the highest level within the CAFTA trade group, which also includes the Dominican Republic.
'The economy is doing very well,' says Isaac Cohen, president of U.S.-based..."
BY JOACHIM BAMRUD
Cesar Trujillo is bullish on Costa Rica. As general manager in Costa Rica for Hewlett-Packard, the world's largest PC manufacturer, he supervises an operation that has gone from 400 employees to nearly 5,000 in less than four years. HP is so happy with Costa Rica that it has opened two separate offices there. One for sales and marketing for Central America and the other offering global outsourcing services to the corporate clients.
'Costa Rica continues to become a major hot-spot for multinational companies looking to establish their operations centers in the Central American region,' he says.
Foreign direct investment last year grew by a whopping 66.8 percent to $1.4 billion. That was more than the other four Central American nations combined. It was also the highest level within the CAFTA trade group, which also includes the Dominican Republic.
'The economy is doing very well,' says Isaac Cohen, president of U.S.-based..."
Labels: cafta, central america, costa rica, costarica, san jose
Thursday, May 24, 2007
CAFTA
CalTrade Report - Costa Rica Will Hold Referendum on CAFTA: "Dealing a major blow to the White House’s expansive free trade agenda, Costa Rica’s President Oscar Arias has said his country will hold a referendum on whether the country's legislature should ratify the Central America Free Trade Agreement.
Known as CAFTA, the trade pact is in force in much of Central America, but has faced vocal resistance from opposition lawmakers in Costa Rica.
'For the first time, Costa Ricans ... will be able to directly decide the future of a very important law for the country,' Arias said at a recent news conference in the capital of San Jose.
The referendum, which could take place within the next three months, opens the possibility that Costa Rica might well reject the deal altogether.
Some recent opinion polls in the Central American country show backing for CAFTA is waning, with less than 40% of those polled in full support of the trade pact.
Costa Rica is the only participant whose legislature hasn’t ratified the agreement.The move would make Costa Rica the first country to hold a referendum to decide the issue, rather than have Congress vote.
The other participants in CAFTA are the Dominican Republic, El Salvador, Guatemala, Honduras, and Nicaragua.
Arias made passing the pact into law a central part of his campaign platform ahe"
Known as CAFTA, the trade pact is in force in much of Central America, but has faced vocal resistance from opposition lawmakers in Costa Rica.
'For the first time, Costa Ricans ... will be able to directly decide the future of a very important law for the country,' Arias said at a recent news conference in the capital of San Jose.
The referendum, which could take place within the next three months, opens the possibility that Costa Rica might well reject the deal altogether.
Some recent opinion polls in the Central American country show backing for CAFTA is waning, with less than 40% of those polled in full support of the trade pact.
Costa Rica is the only participant whose legislature hasn’t ratified the agreement.The move would make Costa Rica the first country to hold a referendum to decide the issue, rather than have Congress vote.
The other participants in CAFTA are the Dominican Republic, El Salvador, Guatemala, Honduras, and Nicaragua.
Arias made passing the pact into law a central part of his campaign platform ahe"
Labels: cafta, central america, costa rica, costarica, travel
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