Why Costa Rica?
Strategically located in Central America, Costa Rica offers investment opportunities for companies interested in broaden their horizons and settle themselves in a country that, with its strong democratic institutions and its efforts to achieve sustainable inclusive growth, represents a success story and a valued partner and friend for Canada. Economic and political relations between Costa Rica and Canada are very strong and profound, and include also important areas such as security, education, culture and multilingualism, as well as the sharing of values of freedom, protection of human rights and democracy.
For over 20 years, we’ve been working to build a solid platform for foreign trade in Costa Rica which has functioned as a competitiveness resource for the country. This platform includes, along with the World Trade Organization (WTO) and Central American Integration Agreements, thirteen Free Trade Agreements (FTAs), INCLUDING Canada since 2002. These agreements cover close to 80% of the country’s international trade.
The countries with which Costa Rica has trade agreements, and therefore, preferential export tariffs, cover 66.6% of the world’s Gross Domestic Product (GDP) and 35.5% of the world population.
The Costa Rican export sector has backed a strategy of diversification, innovation, creativity, new trends and differentiated products and has been especially successful in sectors such as advanced manufacturing, medical devices, services and tourism. The dynamism of these sectors is evident with the growth that companies have shown and employment levels.
Costa Rica’s success in attracting foreign direct investments relies on a combination of factors such as: well educated, multitask and productive workforce; positive cost/benefit relation; friendly-business environment; financial structure; clear and sustainable benefits and incentives; and a government committed with the success and stability of the investments, growth and development.
To explore more investment opportunities that Costa Rica provides, you can visit the Costa Rican Investment Promotion Agency (CINDE) webpage.
The export promotion agency of Costa Rica, PROCOMER, founded in 1996, is a non-governmental public entity whose mission it is to promote, strengthen and diversify Costa Rican exports and facilitate trade and investment. Through the elaboration of export programs such as export readiness assessments, training, market research, advisory services and trade missions, PROCOMER seeks to enhance the international competitiveness of small- and medium-sized enterprises. PROCOMER has 40 international offices.
PROCOMER, through its Trade Promotion Offices in Toronto, is the gateway that connects Costa Rican and Canadian businesses in a variety of sectors.
To explore more opportunities that Costa Rica provides, you can talk to our Commercial Trade Office in Toronto, PROCOMER, or visit their webpage.