Costa Rica Clears Final Hurdle in Central American Free Trade Pact
Thursday, November 13th, 2008Costa Rica is finally ready to join the Central American Free Trade Agreement.
The country signed the accord in 2004 along with the rest of Central America, the United States and the Dominican Republic. But its implementation has been stalled for four years by opposition lawmakers.
Costa Ricans voted for the trade deal in a national referendum a year ago, moving it forward. But then it became stalled again as congress squabbled over the enabling legislation dealing with 13 different aspects of the deal.
On Tuesday, lawmakers overcame the final hurdle by approved laws dealing with intellectual property, and President Oscar Arias said his office will quickly finalize the paperwork needed for Cafta to take effect in Costa Rica on Jan. 1.
“After more than four and a half years of debate, two extensions and one historic referendum in which the majority said they agreed with the free trade accord, we are finally closing this chapter,” said his spokesman Rodrigo Arias, the president’s brother.
Chamber of Commerce President Manuel Rodriguez said the accord “opens a window of opportunities for small businesses.”
The pending deal has mobilized large protests in Costa Rica in the past, but Tuesday’s news came with no public opposition.
