Free Trade Agreement Between China And Costa Rica

Free Trade Agreement Between China And Costa Rica

The corresponding provisions of the free trade agreement will allow more than 60% of the two countries` products to enter each other`s markets immediately duty-free and will allow for the phasing out of an additional 30% of products over the next 5 to 15 years. According to the website of China`s Ministry of Commerce, some of China`s main export products that will benefit from the free trade agreement include textiles, machinery, electrical appliances, vegetables, fruits, cars, chemicals, raw fur and leather. At the same time, Costa Rican coffee, beef, pork, juice and jam products can also make their debut in the Chinese market thanks to tariff reductions. CARICOM – The Free Trade Agreement with CARICOM is part of the Costa Rican Free Trade Agreements that govern relations between themselves and a group of countries. After the signing of the free trade agreement with Peru, Costa Rican exports to the country increased by 9.1%, while imports increased with an overall annual rate of 11.1%. The formal implementation of the China-Costa Rica Free Trade Agreement will strengthen cooperation in bilateral trade of goods, services and investment and give new vitality and connotation to the further development of bilateral relations between the two countries. The Free Trade Agreement between China and Australia officially entered into force on December 20, 2015. . .

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