Costa Rica becomes first Central American country to apply to trans-Pacific trade bloc

Photo by Alexander Aguero 

12th August 2022

Yesterday, President Rodrigo Chaves announced that Costa Rica had officially applied to join
the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP),
becoming the first Central American country to do so. The CPTPP currently consists of eleven
countries across Asia, Oceania, and the Americas. “The CPTTP will allow Costa Rica to share
commercial strategies, attract investment, and create linkages for small and medium-sized
companies,” Chaves told the press yesterday. The CPTTP entered into force in 2018 (after the
US pulled out of the Trans-Pacific Partnership, the CPTTP’s predecessor) and currently
comprises nearly 20% of international trade.

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