NU Online News Service, Jan. 26, 2004, 4:31 p.m. EST – The United States has persuaded Costa Rica to participate in the U.S.-Central America Free Trade Agreement.[@@]
The Bush administration completed negotiations on the agreement with El Salvador, Guatemala, Honduras and Nicaragua in December 2003. Costa Rica held back.
Since then, the United States and Costa Rica have worked out agreements in areas such as agriculture, textiles, telecommunications and professional services, according to the Office of U.S. Trade Representative.
Costa Rica “also committed to fully open its insurance market to competition, with the vast majority of the market opening by Jan. 1, 2008, and full opening of the sector by Jan. 1, 2011,” officials report.
The American Council of Life Insurers, Washington, put out a statement welcoming Costa Rica’s participation in CAFTA.