Costa Rica is invited to join the Trans-Pacific Partnership: statement

The members of the Trans-Pacific Partnership (CPTPP) on Thursday invited Costa Rica to begin the process of entering the trade bloc made up of 12 countries, the Ministry of Foreign Trade of the Central American country said in a statement.

In August 2022, the Costa Rican authorities submitted the request to join the CPTPPone of the world’s leading trade agreements, bringing together 12 economies from four continents, including three from the group of seven richest countries in the world (G7), and covering 15% of global GDP.

“It will provide Costa Rica with the unique opportunity to enter with preferential conditions the markets of countries with which it does not yet have trade agreements,” the Ministry of Foreign Trade said in a statement.

To meet the entry requirements, Costa Rica will undergo an evaluation process by the CPTPP member countries and must negotiate market access conditions for goods and services.

The CPTPP includes Australia, Brunei, Canada, Chile, Japan, Malaysia, Mexico, New Zealand, Peru, Singapore and Vietnam. Recently, the United Kingdom joined the list.

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