US Trade Rep Says She
Hopes Costa Rica Make
the Right Decision on
The TLC
U.S. Trade
Representative Susan C.
Schwab say yesterday
that she hopes Costa
Ricans will follow the
leadership of president
Oscar Arias in approving
the Tratado de Libre
Comercio (TLC) - free
trade agreement with the
U.S. - in the referendum
that is less than three
weeks away.
"Costa Rica has to make
a decision", said
Schwab.
Costa Ricans will going
to the voting booth on
October 7, asked to vote
"Si" or "No" for the
trade deal. For the vote
to be legal, more than
40% of the registered
voters - 2.064.000 -
need to cast their vote.
If the "Si" vote wins a
majority, Costa Rica
will then enter the
Central American Free
Trade Agreement (CAFTA)
as the other Central
American countries the
Dominican Republic
already have done. If
the "No" vote wins the
referendum, the trade
deal then goes back to
the legislature and will
have to be resolved by
the politicians.
The referendum is an
historic moment in Costa
Rica, the first ever
public vote.
Costa Rica is the only
signatory country to
ratify the trade
agreement, encountering
difficulties with
opposition to opening to
foreign investment,
especially in the areas
of telecommunications
and banking.
Oppositors to the trade
deal say that the
country will be sold out
to foreing companies who
will as a result
increase the cost of
living and bring more
poverty, while those in
favour of the TLC see it
as an opportunity to
enter the global
marketplace and create
more employment through
increased foreign
investment in the
country.
"When Costa Rica goes to
vote on the referendum,
I hope it will follow
the lead of the
president and make the
correct decision", said
Schwab.
The latest poll
indicates that more than
50% of the decided
voters will vote in
favour of the trade deal
while 35% oppose it.
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