Mexican trade, investment in Costa Rica continues to grow

September 16^th, 2014 (InsideCostaRica.com) A recent study by the Chamber of Industry and the Costa Rica-Mexico Trade Association (Cicomex) shows that Mexican firms continue to find Costa Rica an attractive destination to do business.

Trade with Mexico reached $4.1 billion in 2013, and Mexican firms in Costa Rica have created 820 new jobs in the country during the last year, according to the study.

Mexican entrepreneurs cite Costa Rica’s political and economic stability as a major attraction.

There are 33 Mexican companies with operations in Costa Rica, representing $1.5 billion in investment, according to the study, producing direct employment for some 19,000 workers in various fields.

Cicomex was established in 1997 to promote trade and investment between the two countries.  Since then, trade between the two countries has increased 3,300%.

Mexican investment in Costa Rica has grown by 4.5% in the last period, according to Jose Mejia Iturbe, president of Cicomex.  Iturbe hopes the trend will continue, and told the daily La Nacion that he has invited President Luis Guillermo Solis to Mexico to meet with investors and entrepreneurs.

Mexican firms in Costa Rica are involved in diverse sectors, ranging from commerce, industry, technology, and infrastructure development.

Mexican firms represent 5% of Foreign Direct Investment (FDI) in Costa Rica, making the country the 4^th largest source of investment after the United States, Panama, and Spain.