No More
US Tariffs
On Sugar Imports
From Costa Rica
On Monday the
United States
announced the
lifting of
tariffs on sugar
imports from
Costa Rica,
lifting the last
barrier in the
regional free
trade deal, the
Central America
Free Trade
Agreement (CAFTA)
or Tratado
de Libre
Comercio (TLC)
locally.
Costa Rica was
the last country
in Central
America to join
the free trade
deal in January
2009 and then
seeing its
legislature drag
its feet in
implementing
reforms required
under the
agreement.
And it was that
delay that
prompted the US
to suspend
tariff-free
sugar imports
this past
January.
Costa Rica's
sugar industry
that exports on
average between
130.000 and
140.000 tonnes
of sugar a year,
estimates losses
from the US
decision at up
us$1 million
dollars.
Last April,
Costa Rica's
legislature
finally approved
the last reform
needed, the
toughening of
copyright laws
to protect
intellectual
property rights.
Now that the US
restrictions are
lifted, Costa
Rica can sell up
to 13.800 tonnes
of sugar to the
United States
without duties,
said the Costa
Rican Foreign
Trade Ministry.
CAFTA groups
five Central
American
Countries -
Costa Rica,
Nicaragua,
Guatemala,
Honduras and El
Salvador and the
Dominican
Republic.
|
|
|
 |
|
|
|
|
|
