Costa Rica’s Legislative Assembly approved a trade agreement between Costa Rica and the United Kingdom that protects commercial conditions that were previously negotiated with the European Union. The agreement ended months of high uncertainty for the national export sector. Under the agreement, the trade relationship between the two nations will remain intact and protected against Brexit.
Legislators approved Monday night (Oct. 28) in second debate – unanimously – the Acuerdo de Asociación entre Centroamérica y el Reino Unido (AACRU).
Dyalá Jiménez, Costa Rica’s foreign trade minister stated that “… With Brexit we need to make sure that trade flows are not going to be interrupted and that there is not going to be a great deal of uncertainty. For the last year we have been able to negotiate and work on an agreement that replaces the association agreement between Central America and the European Union.”
The AACRU was signed on July 18 between authorities of the United Kingdom and representatives of the Central American countries (El Salvador, Guatemala, Honduras, Nicaragua, Costa Rica, and Panama). This agreement is complemented by the Acuerdo de Asociación entre Centroamérica y la Unión Europea (AACUE), which has been in force since October 2013.
Source: qcostarica.com
