Costa Rica is making it known that it wants to join Canada, the U.S. and Mexico in the North American trade agreement.
Costa Rican President Rodrigo Chaves has said he sent a message to the White House expressing his desire to join the United States-Mexico-Canada trade agreement (USMCA), the updated version of the previous North American Free Trade Agreement (NAFTA).
“We need to strengthen relations and improve business opportunities and growth,” Chaves told a news conference following a meeting with Chris Dodd, U.S. President Joe Biden's special adviser for the Americas.
Dodd said he spoke with Chaves about opportunities to boost economic ties but made no mention of entry for Costa Rica into the North American trade deal.
Costa Rican Trade Minister Manuel Tovar said the talks were in an “exploratory phase,” adding that potential inclusion in the trade pact would not be incompatible with its current membership in the United States-Central America (CAFTA) trade agreement.
The United States is Costa Rica's largest trading partner, accounting for nearly 40% of Costa Rica's imports and 42% of its exports.
The Central American country has 10 bilateral and five multilateral trade agreements currently in force. The country is planning to join the Pacific Alliance.
