EU And Central
America Reach
Free Trade Deal
The European
Union (UE) and
Central America
has reached
their first free
trade deal on
Tuesday, as the
Eu opens a
summit with
Latin American
leaders focused
on expanding
economic ties.
Hours before the
conference
formally opened,
the EU and Costa
Rica, El
Salvador,
Guatemala,
Honduras,
Nicaragua and
Honduras reached
the free trade
deal.
"The EU and
Central America
... have
finalized the
negotiations on
the trade pillar
of the
Association
Agreement," both
sides said in a
statement.
Costa Rica's new
president, Laura
Chinchilla,
travelled to
Spain this past
weekend to form
part of the
Central America
delegation.
The deal
envisages 100%
market opening
for industrial
products on both
sides and export
quotas fro milk
powder and
cheese products
from Europe and
for bananas,
beef and rice
from Central
America,
according to the
European
Commission.
European motor
vehicles will
also be given
"free access to
the Central
American market
over a period of
10 years."
The six Central
American
countries have
been in talks on
a free trade
deal with the
European Union
since 2007.
The announcement
follows an
agreement late
Monday between
the EU and the
South American
trading bloc
Mercosur to
resume talks
aimed at
reaching a free
trade deal,
despite
opposition from
a number of
European nations
led by France.
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