Caricom Costa Rica Trade Agreement

The decision to sign this agreement was underpinned by the need for the Parties, inter alia, to improve their existing trade relations and create opportunities for economic development. IIA Mapping Project The IIA Mapping Project is a joint initiative of UNCTAD and universities around the world to map the content of IIAs. The resulting database serves as a tool to understand trends in IIA development, assess the prevalence of different policy approaches, and identify examples of treaties. The “Mapping of IIA Content” allows you to browse the results of the previous project (the page is updated regularly when new results arrive). Please quote: UNCTAD, AIIA Content Mapping, available at investmentpolicy.unctad.org/international-investment-agreements/iia-mapping For more information: Mapping project page Project description and methodological document The Caribbean Community (CARICOM) and the Government of Costa Rica signed an agreement in 2004 to establish a free trade area between the two parties. International investment treaties (IIAs) are divided into two types: (1) bilateral investment treaties and (2) investment treaty agreements. A bilateral investment agreement (BIT) is an agreement between two countries on the promotion and protection of investments made by investors from each country in the territory of the other country. The vast majority of IIAs are BITs. The category of investment provision contracts (IPTs) combines different types of investment agreements that are not BITs. Three main types of TIP can be distinguished: 1. general economic contracts that contain obligations commonly found in BITs (e.g. B a free trade agreement with an investment chapter); 2.

contracts with limited investment provisions (e.g. B only contracts for the installation of installations or the free transfer of funds linked to the investment); and 3. Contracts containing only “framework clauses”, such as those relating to cooperation in the field of investment and/or a mandate for future negotiations on investment issues. In addition to IIAs, there is also an open category of investment-related instruments (IRRI). It includes various binding and non-binding instruments and includes, for example, model agreements and draft instruments, multilateral conventions on dispute settlement and arbitration rules, documents adopted by international organizations and others. The Costa Rican legislator approved the free trade agreement on 9 August 2005. Costa Rica and Trinidad and Tobago exchanged instruments of ratification and the agreement entered into force for both countries on 15 November 2005. The Agreement entered into force between Costa Rica and Guyana on 30 April 2006, between Costa Rica and Barbados on 1 August 2006 and between Costa Rica and Belize on 10 March 2011. Jamaica approved the implementation of the CARICOM Free Trade Agreement on 6 May 2013. In April 2015, Jamaica ratified the agreement and announced that the agreement would enter into force on 1 June 2015. The most recent bilateral agreement between CARICOM and the Spanish-speaking countries of the hemisphere is the Free Trade Agreement BETWEEN LACOM AND Costa Rica, signed on 9 March 2004 and ratified in June 2006. Under this agreement, CARICOM COUNTRIES have agreed on preferential market access for Barbados, Guyana, Jamaica, Suriname, as well as Trinidad and Tobago and Costa Rica for a selected range of products (goods).

The agreement provides for preferential access for a wide range of products. Some sensitive products have been excluded from free trade and a special list of products has been granted differentiated market access between Costa Rica and each of the CARICOM CDMs. There is also a list of goods that are part of a list of progressive tariff reductions. This gradual reduction of the customs schedule is no longer relevant because the period of liberalization of goods has expired. The first meeting of the Joint Council of the Parties was held on 17 June 2015 and concluded on 18 June 2015. June 2015.Important issues discussed at the Joint Council concerned non-tariff barriers, the treatment of certain agricultural products, contact points, services and transport. Kingston, Jamaica. CARICOM and Costa Rica sign free trade agreement IIA Navigator This database of IIAs – the IIA Navigator – is maintained by UNCTAD`s IIA section. You can search for IAIs completed by a specific country or group of countries, view recently completed IIAs, or use advanced contract search for sophisticated searches tailored to your needs. Please quote: UNCTAD, International Investment Agreements Navigator, available in investmentpolicy.unctad.org/international-investment-agreements/ UNCTAD Work Programme on International Investment Agreements (IIAs) actively supports IIA policymakers, government officials and other stakeholders in reforming IIAs to make them more conducive to sustainable development and inclusive growth. International investment rules take place at the bilateral, regional, interregional and multilateral levels. Policymakers, negotiators, civil society and other stakeholders need to be well informed about foreign direct investment, international investment agreements (IIAs) and their impact on sustainable development.

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