Trade relations between Costa Rica and Canada still have plenty of room to grow once 20 years of the Free Trade Agreement (FTA) between the two nations, according to Elizabeth Williams, ambassador of this country on national soil.

Along with information and communication technologies (ICT), sustainable proposals, renewable energy and infrastructure projects, among others, bilateral trade could be taken to a higher level to the benefit of both countries and their people. .

However, for this to become a reality, bureaucracy must be reduced, train more Costa Ricans in English and maintain a strong commitment to legal certainty.

On the other hand, there is a need to “get the message out about why Costa Rica is a good place to invest and not just a great place to vacation,” Williams said.

Read more: Costa Rica is the third most innovative country in Latin America

“Thanks to the FTA, trade between our two countries has increased by more than 200% in 20 years (…) We have seen an expansion towards advanced and high-tech products, such as medical devices and instruments, now, looking to the future, there are new opportunities for Canadian companies in information and communications technology (ICT), sustainable technology, renewable energy as well as larger infrastructure projects, such as wastewater treatment, where Costa Rica has a great need and Canada has experience,” added Williams.

During the two decades of commercial relations, Costa Rica has worked very hard to advance its economy and to be a leader and a key strategic partner in Central America and for this reason, Canada has supported and welcomed our country to join the OECD in 2021.

In this sense, Canada views Costa Rica as a strategic partner in building a strong, inclusive and sustainable global economy.

“Costa Rica is recognized as a global pioneer in ecology with a strong social conscience, as evidenced by the plans to decarbonize its economy by 2050. Additionally, he is a true leader who has put in place strong policies to frame change in terms of economic and social benefits,” Williams said.

In this sense, Canada and Costa Rica continue to work together in various international forums and in their bilateral relations, to combat the adverse effects of climate change and ensure sustainable economic growth.

This is driven by Costa Rica’s leadership in terms of biodiversity preservation, so much so that it has reversed deforestation and today 25% of its territory is protected.

Regarding infrastructure, Williams said, “we are exploring how to use the international contracting arm of the Canadian government called the Canadian Commercial Corporation (CCC).”

“The idea is to support greater participation by Canadian companies in major projects that are priorities for Costa Rican municipalities and the national government. Several cases illustrate how CCC has become a reliable partner in executing important projects for many governments in the region. We hope that through this unique Canadian mechanism, we will be able to see Canada’s commercial collaboration in important projects undertaken by Costa Rican partners,” said the Ambassador.

Read more: The country has achieved 25% of the objectives set during the first stage of decarbonization

And it is that Costa Rica has an infrastructure deficit of more than 30 years, in addition to great needs in terms of public buildings, sanitation and others.

Finally, for Canada, inclusive trade is an obligation, as it is seen as ensuring that all members of society have the opportunity and support to participate and contribute to the economy.

This means that women, people with disabilities, Indigenous peoples, LGBTQ2S+ and other underrepresented groups have a place at the table and can thrive. When all members of a society are included, it leads to greater growth and prosperity for all people,” concluded the Ambassador.