World Bank Ready to
Support TLC
Implementation
World Bank President
Robert B. Zoellick
pledged the Bank’s
support to Costa Rica as
it moves to participate
in the Dominican
Republic-Central America
Free Trade Agreement
(DR-CAFTA), known
locally as the Tratado
de Libre Comercio (TLC).
Following the country’s
recent vote endorsing
DR-CAFTA, Mr. Zoellick
congratulated Costa
Rican President and
Nobel Peace Prize winner
Oscar Arias and the
people of Costa Rica in
a letter.
“I personally witnessed
the key role you played
Mr. President, since the
early stages of the DR-CAFTA-
process. We are ready to
support your government
with the implementation
and full use of the
accord for the benefit
of all Costa Ricans. I
have asked my colleagues
to actively follow up
with your implementation
team”, Zoellick said in
the letter.
According to World Bank
research, regional trade
agreements can make
important contributions
to a country’s efforts
to achieve economic
growth and overcome
poverty. Costa Rica is
well placed to benefit
from more open trade
because of its strong
institutions and high
level of education.
Mr. Zoellick, who played
an active role in
launching and
negotiating DR-CAFTA in
the past, will meet with
Costa Rican Finance
Minister Guillermo
Zuniga and other Central
American finance
ministers to discuss
implementation during
the Annual Meetings of
the World Bank and the
IMF this weekend. |
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