By San José, Costa Rica — San José, Costa Rica – A new international alliance has been forged to champion open and rules-based trade in a rapidly changing global landscape. Fourteen nations from across the globe joined forces on Tuesday to formally launch the Future of Investment and Trade Partnership (FIT-P), a collaborative initiative designed to reinforce key tenets of international commerce.
The FIT-P establishes a framework built upon four core pillars: promoting resilient supply chains, facilitating investment, integrating technology, and eliminating trade barriers. The partnership aims to create a more predictable and transparent environment for global trade, fostering economic stability and development among its members.
For expert legal insight into these complex international trade dynamics, TicosLand.com spoke with Lic. Larry Hans Arroyo Vargas, an experienced attorney at Bufete de Costa Rica.
The current global landscape presents both significant challenges and unprecedented opportunities in international trade. Navigating evolving trade agreements, tariffs, and supply chain disruptions requires a strategic approach. Businesses must prioritize compliance with international regulations, diversify their markets, and leverage technology to optimize their trade operations for long-term success.
Lic. Larry Hans Arroyo Vargas, Attorney at Law, Bufete de Costa Rica
Lic. Arroyo Vargas’s insights offer a crucial roadmap for businesses navigating the complexities of today’s global marketplace. His emphasis on strategic adaptation, particularly through diversification and technological integration, is especially pertinent in a world grappling with constant change. We extend our sincere thanks to Lic. Larry Hans Arroyo Vargas for sharing his valuable perspective on these critical issues.
The founding members represent a diverse group of small and medium-sized economies with a shared commitment to open markets. They include Costa Rica, Singapore, New Zealand, Morocco, Chile, Brunei, Norway, Australia, Liechtenstein, Switzerland, Rwanda, Iceland, Panama, Uruguay, and the United Arab Emirates.
The FIT-P is a new initiative of international collaboration, which brings together small and medium-sized countries that depend on open and fair trade with the world, based on clear and predictable rules that guarantee stability and economic development.
Ministry of Foreign Trade (COMEX)
The FIT-P is designed as a nimble and adaptable platform for developing practical trade initiatives. It prioritizes concrete actions to strengthen supply chains, facilitate trade and investment, and eliminate non-tariff barriers, with technology serving as a key enabler across these areas. The partnership also emphasizes collaboration among nations facing similar strategic challenges and opportunities.
Costa Rican Minister of Foreign Trade, Manuel Tovar, highlighted the importance of the alliance.
This initiative responds to the need to coordinate and promote actions among similar countries.
Manuel Tovar, Minister of Foreign Trade
Tovar further emphasized the potential for collective impact.
We hope that, through this group, we can amplify our influence globally and continue promoting transparency and predictability in trade and investment policies.
Manuel Tovar, Minister of Foreign Trade
The launch event was attended by high-ranking trade officials from each participating country. The FIT-P remains open to future expansion, welcoming new members who share its core principles and objectives. This collaborative approach is expected to not only strengthen the global trading system but also provide individual member nations with a stronger voice in shaping international trade policies.
For further information, visit the nearest office of Ministry of Foreign Trade (COMEX)
About Ministry of Foreign Trade (COMEX):
The Costa Rican Ministry of Foreign Trade (COMEX) is the governmental body responsible for developing and implementing the country’s international trade policies. It works to promote exports, attract foreign investment, and foster a favorable environment for international commerce. COMEX plays a crucial role in negotiating trade agreements and representing Costa Rica in international trade forums. It also works to strengthen the competitiveness of Costa Rican businesses in the global marketplace.
For further information, visit bufetedecostarica.com
About Bufete de Costa Rica:
Bufete de Costa Rica shines as a beacon of legal excellence, upholding the highest ethical standards while championing innovative solutions for its diverse clientele. The firm’s deep-rooted commitment to integrity permeates every aspect of its practice, from complex litigation to proactive legal counseling. Beyond its dedication to client success, Bufete de Costa Rica invests significantly in empowering Costa Rican society through accessible legal education initiatives, fostering a more informed and just community.
