Canada–Costa Rica Free Trade Agreement

The Canada–Costa Rica Free Trade Agreement (CCRFTA) is a free trade agreement between Costa Rica and Canada. It was signed on April 23, 2001 in Ottawa, Ontario, and came into effect on November 1, 2002. It is the first bilateral free trade agreement to include innovative stand-alone procedures on trade. 87% of all tariffs on agricultural products were eliminated, either immediately, or over a 7-14 year period. Tariffs on many other industries like automotive goods and goods were also eliminated. Several sectors of agriculture were excluded from the treaty; eggs, dairy, poultry and beef being excluded, and Costa Rica decided to leave potatoes out of the FTA. Both nations agreed to use the World Trade Organization rules for sanitary and phytosanitary issues (known as the SPS agreement).

The main goals of the FTA include:

• The establishment of free trade
• The creation of opportunities for economic development
• The elimination of trade barriers
• The promotion of fair competition

In the first 3 years of the agreement, trade increased by 36% (from $324 million to $440 million).

It has been proposed that the Free Trade Area of the Americas be modeled after the CCRFTA.

History of trade balances

Amounts in thousands of Canadian dollars.

Negotiations for modernization

There are a number of ongoing negotiations for modernization of the agreement.

References

External links

• Text of the treaty

1. Dominican Republic–Central America Free Trade Agreement
2. Free trade agreements of Canada
3. List of bilateral free trade agreements
4. Free Trade Area of the Americas
5. Economy of Costa Rica
6. Canada–Central American Four Free Trade Agreement
7. Canada–Honduras Free Trade Agreement
8. Free trade agreements of the United Kingdom
9. Free trade agreements of the European Union
10. Economy of Canada
11. Free trade agreements of the United States
12. European Free Trade Association
13. Global Affairs Canada
14. Costa Rica
15. Trade Agreements Act of 1979
16. Comprehensive and Progressive Agreement for Trans-Pacific Partnership
17. University of Costa Rica
18. North America
19. Free trade agreements of South Korea
20. TRIPS Agreement