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Overview: Trade Relations Between the United States and Costa Rica

Overview: Trade Relations Between the United States and Costa Rica

The United States and Costa Rica have maintained a relatively close trade relationship throughout its history. According to the Embassy of the US in Costa Rica, this relationship was born in 1851 and reinforced in 1852, when the “Treaty of Friendship, Commerce and Navigation” between both countries came into effect. Interactions between both countries cover diverse trade matters and allow them to benefit and strengthen their commercial and diplomatic relations. Costa Rica receives from the US government collaboration on mainly maritime security issues where there are joint patrol agreements and for which Costa Rica received a donation of around 40.7 million dollars in 2019. Likewise, there is mutual cooperation on environmental and conservation matters, reflected in the economic contributions called "debt swaps" through which the United States forgave Costa Rica's debt on the condition that it invest in environmental protection and conservation of tropical forests. Learn about the most important aspects of trade relations between the US and Costa Rica.  Cooperation strategy with Costa Rica The 'United States Integrated Country Strategy for Costa Rica' seeks to develop a common set of objectives in which the State Department and other US agencies, such as the United States Agency for International Development (USAID), can participate. This strategy concentrates mostly on the following aspects: “Our countries must continue to focus on the goal we have in common" Citizen security Among the donations and resources received by Costa Rica from the US in terms of security, the...

Commercial Space Launch Opportunity for US Business in Brazil 

Commercial Space Launch Opportunity for US Business in Brazil 

After the ratification of an important agreement, US business in Brazil have new opportunity to begin space activities in the country. The government has ambitious plans to develop its space industry, starting with a focus on its spaceport. The space industry has been growing over the past few years, shifting to a more commercial direction. With the ratification of an important agreement to import spacecraft from the US, the country is seeking to attract investment for the launch of commercial satellites, rockets, and other spacecraft. Brazil is taking part in the global space industry, providing the appropriate regulation for US companies that want to launch from the country. Learn about the new space launch opportunities for US business in Brazil  Opportunity for US business in Brazil: commercial space launches  In November 2019, Brazil’s Senate approved the long-awaited technology safeguard agreement (TSA) that allows US space businesses to operate in Brazil. This agreement allows US spacecraft and launch vehicles to enter and operate in Brazil, protected by a nonproliferation treaty. Now, sensitive information regarding US spacecraft technologies is protected.  On top of that, the Brazilian spaceport in Alcântara offers certain costs saving advantages. Although Brazil’s investment in the spacial industry isn’t as significant compared to other developed countries, they possess a sizeable launch complex with a strategic position that offers an advantage for launching missions. The approval of this agreement opens the door for new US business in Brazil by offering a new,...

The USMCA trade agreement – how could it affect your business?

The USMCA trade agreement – how could it affect your business?

In the recent G20, held in Buenos Aires, Argentina, the new and improved NAFTA – officially called 'USMCA' (The United States Mexico Canada Agreement) was signed by all three parties. The new trilateral agreement was pursued principally by the US, with strong criticism from their government over the previous trade agreement, NAFTA. President Trump announced the following on Twitter – “Just signed one of the most important, and largest, Trade Deals in the U.S. and World History. The United States, Mexico, and Canada worked so well together in crafting this great document. The terrible NAFTA will soon be gone. The USMCA will be fantastic for all!” Despite the change in name, the USMCA is essentially the NAFTA 2 – an updated version of the nearly 25-year-old trade agreement. Despite being signed, the deal is not yet to come into place as it has not been officially ratified. Now begins the somewhat tedious process of having this agreement approved by US, Canadian and Mexican lawmakers. What are some of the key features of USMCA? The agreement is quite broad covers a wide range of areas including agricultural produce, manufactured goods, employment conditions, digital trade amongst others. Some key features include: Dairy Provisions - The new agreement will grant the United States access to 3.60% of the Canadian dairy market. Automotive Industry – Automotive goods, namely cars or trucks, who have at least 75% of their components made in the US, Mexico, or Canada can be sold without tariffs. This deal is intended to incentivize and shift more car production to North America....

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