Costa Rica, South Korea to negotiate free trade agreement
June 22nd, 2015 (InsideCostaRica.com) Costa Rica and South Korea will begin negotiating a free trade agreement (FTA) this year that would provide duty-free trade on a wide range of products between the two countries, according to reports.
Costa Rica exports to South Korea totaled $66 million USD in 2014, while imports from South Korea exceeded $326 million.
Amongst the most imported goods from South Korea are vehicles, such as those produced by Hyundai Motor Group, and cellular telephones from manufacturers like Samsung. Costa Rica exports to the Asian country include scrap, coffee, and electronic components.
South Korea’s economy ranks 13th in the world and is one of the G-20 major economies.
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