By Wendy Anders

Representatives from Costa Rica, El Salvador, Guatemala, Honduras, Nicaragua and Mexico met for the second conference of the commission that administers the Central America-Mexico free trade agreement. The Costa Rica delegation was led by Jhon Fonseca, Vice Minister of Foreign Trade.

During the event, the leaders analyzed the evolution of the region’s trade, and stressed the importance of continuing to foster good trade relations, diversify trade, and use the treaty to identify value chains and attract investment.

From 2005-2015, trade between Costa Rica and Mexico grew at an average annual rate of 8 percent, from US$650 million to US$1,399 billion, said Fonseca.

“This type of meeting allows us to advance in areas of mutual interest and to define specific actions to facilitate and expand the commercial and investment opportunities between our countries,” explained Fonseca.

Costa Rica’s main exports to Mexico in 2015 included palm oil; prepared foods; seals and gaskets; metal caps, covers, and lids; inner tubes; syringes, needles, and catheters; and iron and steel wire products.

“The agreement reached to implement uniform regulations is fundamental, since these establish guidelines that allow for the resolution of problems that have been faced by the companies in their commercial transactions,” explained Fonseca.