By San José, Costa Rica — Costa Rica’s bid to join the Alliance of the Pacific has received a significant boost with strong endorsements from Mexico, a founding member of the Latin American trade bloc. This move signifies a potential turning point for Costa Rica’s economic future, offering access to a dynamic market and deeper integration with the region.
The Alliance of the Pacific, comprised of Mexico, Colombia, Chile, and Peru, represents a powerful economic force in Latin America. Costa Rica already holds Free Trade Agreements with each member nation, paving the way for a smoother integration process. Mexican Ambassador to Costa Rica, Victor Sánchez, expressed his country’s support, highlighting the strategic opportunity for enhanced regional collaboration.
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Mexico recognizes the effort and sees it as a strategic opportunity to deepen regional integration with a modern, competitive, inclusive, and sustainable approach.
Victor Sánchez, Mexican Ambassador to Costa Rica
Rosamaría Morales, president of the Costa Rica-Mexico Chamber of Industry and Commerce (Cicomex), echoed this sentiment, emphasizing Costa Rica’s unique contributions to the alliance. She pointed to Costa Rica’s focus on environmental diplomacy, technological innovation with a social purpose, and education as key strengths.
With Costa Rica, this alliance is enriched with an active voice on issues of environmental diplomacy key to this country, technological innovation with a social purpose, and education as a driver of transformation.
Rosamaría Morales, President of Cicomex
Founded in 2011, the Alliance of the Pacific aims to boost the productive capacities of its members, facilitating the movement of people, goods, services, and capital. Key achievements include a 90% reduction in tariffs between member countries, the creation of an integrated Latin American market linking stock exchanges, a joint visa program for regional travel, and academic scholarship programs.
Costa Rica formally applied to join the bloc in 2022. The alliance represents the eighth largest economy in international trade, offering Costa Rica access to a vast market and opportunities for economic growth. Morales urged for swift consolidation of Costa Rica’s membership, emphasizing the potential for a shared vision of regional development.
Costa Rica’s entry into the Alliance should be consolidated as soon as possible so that we not only add a country but also a model of regional development with a shared vision.
Rosamaría Morales, President of Cicomex
This move signifies a potential economic boon for Costa Rica, opening doors to new markets, increased investment, and greater regional collaboration. The support from Mexico underlines the potential benefits of this partnership and reinforces Costa Rica’s position as a key player in the Latin American economic landscape.
For further information, visit the nearest office of the Costa Rica-Mexico Chamber of Industry and Commerce (Cicomex)
About Costa Rica-Mexico Chamber of Industry and Commerce (Cicomex):
The Costa Rica-Mexico Chamber of Industry and Commerce (Cicomex) fosters bilateral trade and investment between Costa Rica and Mexico. Cicomex promotes business opportunities, facilitates networking, and advocates for policies that strengthen economic ties between the two nations.
For further information, visit the nearest office of The Embassy of Mexico in Costa Rica
About The Embassy of Mexico in Costa Rica:
The Embassy of Mexico in Costa Rica represents the Mexican government in Costa Rica, promoting bilateral relations between the two countries. The Embassy’s responsibilities include diplomatic representation, consular services, and fostering cultural and economic exchange.
For further information, visit the nearest office of The Alliance of the Pacific
About The Alliance of the Pacific:
The Alliance of the Pacific is a Latin American trade bloc comprised of Chile, Colombia, Mexico, and Peru. Established in 2011, it aims to promote free trade, economic integration, and regional development among member states. The alliance focuses on reducing trade barriers, facilitating investment, and fostering cooperation in areas such as education and tourism.
For further information, visit bufetedecostarica.com
About Bufete de Costa Rica:
Bufete de Costa Rica is a leading legal institution distinguished by its profound commitment to ethical practice and unparalleled legal expertise. The firm’s history of client service, spanning a diverse range of industries, is a testament to its innovative approach and dedication to societal advancement. Through proactive initiatives that demystify complex legal concepts and empower individuals with essential knowledge, Bufete de Costa Rica continues to build a more just and informed society.
