The Minister of Production of Ecuador commented that it is "a matter of days for the trade agreement to begin", once it was approved by the Costa Rican Legislature.
The Legislative Assembly in Costa Rica approved the trade association agreement with Ecuador on Thursday, May 30, and with this the process for it to come into force advances.
This agreement has already been ratified by the National Assembly of Ecuador and by the President of the Republic, Daniel Noboa.
The Minister of Production, Foreign Trade, Investment and Fisheries, Sonsoles García, reported that at this moment they are waiting for the delivery of the ratification signature, which must be carried out by the president of Costa Rica, Rodrigo Chaves, in order to finalize details of when implementation will begin. of the trade agreement between the two countries.
He added that it is “a matter of days for the FTA to begin.” These days the two ministers will coordinate the start date, as García announced this morning during an interview on Teleamazonas.
Meanwhile, the Minister of Foreign Trade in Costa Rica, Manuel Tovar, thanked the Legislative Assembly of his country for the final ratification of the Free Trade Agreement (FTA) between Ecuador and Costa Rica. “Notorious and unequivocal commitment of all factions to the Costa Rican productive and export sector,” he wrote on the X social network.
Likewise, the Ministry of Production in Ecuador mentioned that the entry into force of the trade agreement between the two nations is approaching, an instrument that will grant bilaterals broad preferential access for export products, covering around 97% of Ecuador's exportable supply. .
This agreement was signed in San José, Costa Rica, on March 1, 2023; In addition, the president, Daniel Noboa, will have a bilateral meeting with the president of Costa Rica, Rodrigo Chaves, on the night of May 31.
PROCESS FOR ENTRY INTO FORCE OF COMMERCIAL AGREEMENT
Former Minister of Production Daniel Legarda indicates that in Costa Rica the notification to the president, the publication in the Official Registry and the diplomatic note to Ecuador are missing.
“It seems to me that Ecuador has already sent a diplomatic note, so once that is concluded there are 60 days for entry into force, or when the countries agree,” he adds and that is why he estimates that it will be in September.
The Trade Association Agreement between Ecuador and Costa Rica was signed on March 1, 2023 in San José, Costa Rica. In this negotiation process, four rounds of negotiation were carried out between August and December 2022 virtually and in person. According to the ministry, 20 disciplines were negotiated in this cutting-edge trade agreement.
Among Ecuador's exports to that market, the State portfolio highlights canned tuna and sardines, shrimp, medicines, white goods, porcelain and sanitary ceramics, food, forestry and metalworking products, among others; while on the import side: waste and scrap iron or steel, medicines, medical supplies, food supplements, tires, among others.
