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Costa Rica Commercial relations: United States - China

Costa Rica Commercial relations: United States - China. Costa Rica – country information. Population : 4.5 million people. Territory : 51,000 m2. No army Historical priorities : education and health. Costa Rica – country information.

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Costa Rica Commercial relations: United States - China

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  1. Costa Rica Commercial relations: United States - China

  2. Costa Rica – country information Population: 4.5 millionpeople Territory: 51,000 m2 No army Historicalpriorities: education and health

  3. Costa Rica – country information Source: CINDE. Key EconomicIndicators 2012.

  4. Costa Rica – country information Source: CINDE. Key EconomicIndicators 2012.

  5. Costa Rica – country information Source: CINDE. Key EconomicIndicators 2012.

  6. Costa Rica – country information Source: CINDE. Key EconomicIndicators 2012.

  7. Most representative imports origins Total of imports: $13,030,283.00 / more than 30 countries $7,480,678.59 ~ 50% of total This information is available on: www.procomer.com 8 countries= 69% imports

  8. Main importation products US Million

  9. Main importation products US Million

  10. 25 main importation origin US Million 54% 70%

  11. 25 main importation origin US Million

  12. Costa Rica - Exports US Million Years Source: www.procomer.com

  13. Costa Rica - Importation US Million Years This information is available on: www.procomer.com

  14. Free trade agreement with China

  15. Free trade agreement with China • In 2011 China and Costa Rica signed a Free Trade Agreement. • 90% of both countries’ products enjoy cero tariff. • Exports to China have grown an average 28.5% and imports have grown 29.1% every year from 2000 to 2011.

  16. Free trade agreement with China Exports 2011: $199.7 million Products: • Microprocessors • Sockets • Plugs and sockets (outlets) • Citrus, prepared or preserved • Timber • Copper waste and scrap • Bovine and equine leather • Electrical parts • Parts of seats • Aluminum waste and scrap

  17. Free trade agreement with China Importation 2011: $1,297.9 million Products: • Cellular phone parts • Tricycles and similar toys • Routers • Footwear • Computers • Beans • Microchips • Base stations

  18. Free trade agreement with China Current situation The Free Trade Agreement began a new era of trade relations between Costa Rica and China. Costa Rica is currently working on promoting, identifying and exploiting opportunities for trade and investment with this partner.

  19. China’s protected products • Textile industry • Light industry • Machinery • Electronics • Vegetables and fruits • Cars • Chemicals • Hide and leather

  20. Costa Rica’s protected products • Coffee • Pork • Pineapple juice • Frozen orange juice • Jam • FishPowder • Minerals • Hides

  21. China’s protected services • Computer • Real estate • Market research • Translation and interpretation

  22. Costa Rica’s protected services • Telecommunication • Commercial • Construction • Real estate • Distribution • Education • Environment • Computers • Tourism

  23. China’s market advantages • A lot of product options • Lower prices • Vast possibilities for product exchange • Big market for our local products

  24. China’s market limitations • Reputation of lower quality in some products • High cost of transportation and internationalization procedures • Retailers are not always willing to receive new products • You must buy large quantities of products • Risk – new products / new partners

  25. Conclusions

  26. Conclusions • The United States is Costa Rica’s most important trading partner. • Globalization creates rapid changes: new products, new competitors, new trade possibilities. • Context and economy will determine outcomes: economic crisis, consumer behavior, market tendencies.

  27. Conclusions • China is searching new commercial possibilities in Latin America and Africa. • New countries are emerging as a manufacturing source: Costa Rica’s imports and exports have been increasing considerably due to the local Intel factory.

  28. Conclusions • Most valuable criteria for international trade: • Quality • Price • Production capacity • Opportunity of deliverance • Cost of transportation • Reputation of the manufacturing

  29. Contactinformation: Harold Hütt Herrera E-mail address: harold.hutt@ucr.ac.cr Universidad de Costa Rica • Questions and comments… Websites: www.comex.go.cr www.procomer.com

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