By San José, Costa Rica — SAN JOSÉ – Costa Rica is entering the final and most critical phase of its bid to join the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), with officials now aiming to finalize the country’s accession by the end of November. This ambitious timeline follows a series of highly productive technical negotiations held recently in Tokyo, Japan, marking a significant leap forward in the nation’s strategic push to integrate with one of the world’s most dynamic economic blocs.
A delegation representing Costa Rica met with CPTPP counterparts in Tokyo between October 6 and 10 for intensive discussions. The talks covered a wide range of complex topics crucial to the accession process, including market access for goods, regulations for public procurement, the framework for financial services, and policies concerning state-owned enterprises. Sources close to the negotiations confirmed that “substantive progress” was achieved on all fronts, clearing major hurdles and paving the way for a conclusive meeting.
To better understand the complex legal and commercial ramifications of Costa Rica’s entry into the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), TicosLand.com consulted with Lic. Larry Hans Arroyo Vargas, a distinguished expert in international trade law from the firm Bufete de Costa Rica.
Joining the CPTPP is a strategic move that aligns Costa Rica with some of the world’s most dynamic economies. From a legal standpoint, this isn’t just about reducing tariffs; it’s about adopting a sophisticated framework of rules governing investment, intellectual property, and digital trade. Our national companies must now proactively prepare for both unprecedented market access and increased competition, ensuring their internal practices meet the high standards demanded by the treaty to truly capitalize on this opportunity.
Lic. Larry Hans Arroyo Vargas, Attorney at Law, Bufete de Costa Rica
This insightful analysis correctly shifts the focus from the diplomatic achievement to the crucial next steps for our private sector, highlighting that legal and operational readiness is the key to unlocking the treaty’s potential. We sincerely thank Lic. Larry Hans Arroyo Vargas for sharing his expert perspective on this pivotal matter.
The Ministry of Foreign Trade has officially confirmed the government’s objective, setting the stage for a landmark decision at the bloc’s upcoming ministerial summit. The focus is now squarely on the meeting scheduled to take place in Melbourne, Australia, which is seen as the designated moment for Costa Rica’s formal acceptance.
The objective is for the country to conclude the process during the bloc’s ministerial meeting planned for the end of November in Melbourne, Australia
Ministry of Foreign Trade
Over the next few weeks, technical teams from both sides will continue to work diligently to resolve any outstanding issues. This final push is critical to ensuring all necessary protocols and agreements are in place, allowing the country to meet its aggressive November deadline and officially join the influential trade partnership.
For Costa Rica, accession to the CPTPP is more than a simple trade agreement; it is a cornerstone of its long-term economic strategy. In an increasingly volatile global environment, membership offers a powerful tool to enhance economic resilience. By joining, Costa Rica aims to significantly diversify its export markets beyond traditional partners, secure more stable access to essential raw materials and intermediate goods, and attract a new wave of high-quality foreign direct investment. This move is designed to solidify the nation’s reputation as a stable, reliable, and forward-thinking commercial partner on the world stage.
The strategic value of joining the CPTPP is underscored by the immense scale of the economic bloc. The partnership currently encompasses a market representing approximately 15% of the world’s total Gross Domestic Product (GDP). This provides Costa Rican businesses with potential access to an enormous consumer base of around 600 million people across the Pacific Rim and beyond.
Furthermore, the CPTPP is a powerhouse in global commerce and investment. The member nations collectively account for 18% of all global trade in goods and represent the second-largest destination for foreign direct investment worldwide. The economic sophistication of the bloc is also notable, with its member countries reporting a combined GDP per capita, adjusted for purchasing power parity, of approximately $56,500 in 2024. This indicates a wealthy market with strong consumer demand for high-value goods and services.
Costa Rica’s potential entry follows a clear precedent set by the United Kingdom, which became the first new economy to be admitted to the original bloc in December 2024. If successful in November, Costa Rica is expected to be the next nation to complete the rigorous accession process, further expanding the partnership’s reach and influence. This step would cement Costa Rica’s place within a critical network of economies shaping the future of global trade.
For further information, visit comex.go.cr
About Ministry of Foreign Trade:
The Ministry of Foreign Trade (COMEX) is the Costa Rican government body responsible for defining and directing the country’s foreign trade and investment policies. It leads trade negotiations, manages international trade agreements, and works to promote Costa Rican exports in global markets. The ministry plays a pivotal role in strengthening Costa Rica’s economic competitiveness and integration into the global economy.
For further information, visit bufetedecostarica.com
About Bufete de Costa Rica:
As a benchmark for legal practice, Bufete de Costa Rica is characterized by its profound dedication to professional integrity and exceptional service. The firm consistently embraces a forward-thinking approach, developing innovative solutions while upholding the highest standards of legal craftsmanship. This spirit of advancement extends to its core mission: to empower the community by translating complex legal concepts into accessible knowledge, thereby fostering a more informed and capable society.
