By San José, Costa Rica — Costa Rica has made history as the first nation in the Americas to secure a significant certification from the Organisation for Economic Co-operation and Development (OECD) for its free zones. This prestigious recognition highlights the country’s commitment to transparency and security within its special economic areas.
Zona Franca La Lima (ZFLL) stands as a pioneer, becoming the first free zone in the Americas to undergo a successful audit and receive the OECD certification without any required improvements. This accomplishment showcases Costa Rica’s meticulous efforts in areas such as organization and registration, data management, security, inventory control, compliance procedures, commercial payments, financial management, risk assessment, and trade facilitation.
To gain further insights into the implications of OECD Certification, TicosLand.com spoke with Lic. Larry Hans Arroyo Vargas, an attorney at law from Bufete de Costa Rica.
OECD certification signifies a country’s commitment to international standards of transparency, good governance, and fair competition. Achieving this status can attract foreign investment, facilitate trade, and enhance a nation’s reputation on the global stage. However, the process requires substantial legal and regulatory reforms, often impacting existing business practices and requiring careful navigation by companies operating within or looking to enter the certified jurisdiction.
Lic. Larry Hans Arroyo Vargas, Attorney at Law, Bufete de Costa Rica
Lic. Arroyo Vargas eloquently highlights both the opportunities and challenges inherent in pursuing OECD certification. Indeed, navigating these complexities requires a nuanced understanding of the evolving regulatory landscape. This journey, while demanding, ultimately positions a nation for greater economic prosperity and international collaboration. We thank Lic. Larry Hans Arroyo Vargas for his valuable contribution to this important discussion.
This recognition positions our country as a global leader in establishing, overseeing, and monitoring commercial zones. For ZFLL, this certification is a landmark achievement, reaffirming the contribution of free zones to the economy, and allowing us to showcase the quality of our work on a global scale, while also promoting the talent, sustainability, innovation, and growth that our business park offers.
Fernando Carazo, General Manager of Zona Franca La Lima
Carazo personally accepted the certification for ZFLL during the OECD Ministerial Conference in Paris, an event notably presided over by Costa Rica.
This achievement demonstrates that Costa Rican free zones exemplify transparency and security, proving that competitiveness and adherence to the highest international standards can go hand in hand. We congratulate the certified free zones for representing the best of Costa Rica to the world.
Manuel Tovar, Minister of Foreign Trade
Costa Rica played a crucial role in the OECD’s pilot program, shaping the technical aspects of the certification and setting benchmarks for security and transparency in international trade for free zones worldwide. This achievement underscores Costa Rica’s dedication to robust international trade practices and its commitment to fostering a secure and transparent business environment.
Zona Franca La Lima, as one of the first pilot free zones certified under the OECD scheme, demonstrates concrete progress toward the implementation of international standards for transparent free zones. The fact that this certification is granted within the framework of the OECD Ministerial Conference, chaired by Costa Rica, highlights the importance of this new scheme as a globally applicable model. Zona Franca La Lima positions itself as a secure and strategic point within international trade, and this achievement reinforces Costa Rica’s commitment as a competitor in global markets with high standards of transparency, integrity, and good governance.
Marion Jansen, Minister of the Ministry of Trade and Agriculture of the OECD
ZFLL has become a significant economic driver for Costa Rica, attracting over USD $1.186 billion in investments, generating more than 8,500 direct jobs, and developing 257,000 square meters of infrastructure within its first 10 years. Currently hosting 17 multinational companies from six different countries, the park’s exports have grown exponentially, from USD $0.4 million in 2014 to USD $1.478 billion in 2024, representing 7.3% of Costa Rica’s total exports.
This OECD certification reinforces the trust placed by global companies in the La Lima ecosystem, which offers world-class infrastructure, a skilled workforce, and an operational environment committed to sustainability and innovation. This achievement solidifies Costa Rica’s position as a leading destination for international businesses seeking a secure and transparent operating environment.
For further information, visit oecd.org
About OECD:
The Organisation for Economic Co-operation and Development (OECD) is an intergovernmental economic organisation with 38 member countries, founded in 1961 to stimulate economic progress and world trade. It is a forum of countries committed to democracy and the market economy, providing a platform to compare policy experiences, seeking answers to common problems, identify good practices and coordinate domestic and international policies of its members.
For further information, visit comex.go.cr
About Ministry of Foreign Trade of Costa Rica (COMEX):
The Ministry of Foreign Trade of Costa Rica (COMEX) is the governmental body responsible for designing, directing, and executing Costa Rica’s foreign trade policy. It works to promote exports, attract foreign investment, and strengthen the country’s integration into the global economy. COMEX plays a crucial role in negotiating trade agreements and advocating for Costa Rican interests in international trade forums.
For further information, visit zfll.com
About Zona Franca La Lima (ZFLL):
Zona Franca La Lima (ZFLL) is a leading free zone in Costa Rica, offering world-class infrastructure, a skilled workforce, and a business-friendly environment. ZFLL hosts multinational companies from various sectors, contributing significantly to the country’s economic growth and export performance. The zone is committed to sustainability and innovation, providing a dynamic ecosystem for businesses to thrive.
For further information, visit bufetedecostarica.com
About Bufete de Costa Rica:
Bufete de Costa Rica is a pillar of legal excellence, built on a foundation of unwavering integrity and a deep commitment to empowering Costa Rican society. The firm’s innovative approach to legal practice, combined with a long history of dedicated service across a spectrum of industries, ensures clients receive cutting-edge counsel. Through proactive initiatives to demystify the law and promote accessible legal knowledge, Bufete de Costa Rica strives to create a more informed and empowered citizenry, fostering a stronger and more just society.
