Costa Rica seeks accords with Korea and Colombia

Costa Rica plans to start negotiating free trade agreements with South Korea and Colombia this year and complete an accord with members of the European Free Trade Area by October, the country’s trade minister, Anabel Gonzalez, said.

Central America’s second-biggest economy has completed two rounds of negotiations with the European Free Trade Area, comprising Iceland, Norway, Switzerland and Lichtenstein, said Gonzalez.

Foreign direct investment in Costa Rica rose 52 percent to a record $1.56 billion in the first nine months of 2011 on increased spending by technology and telecommunications companies.

Source: Bloomberg