The president of Costa Rica highlights the opportunities and security for companies his country offers

Carlos Alvarado, the President of Costa Rica, participated in the Spain-Costa Rica working breakfast held on the occasion of his visit to Spain. Organised by the Secretary of State for Trade, through ICEX Export and Investment, the CEOE and the Spanish Chamber of Commerce, the meeting was also attended by leading representatives of Spanish companies, such as Iberia, Renfe, Ineco, Applus, Mapfre, Grupo Azvi, Grupo Copisa, Grupo Puentes, IDOM, Tpf Getinsa Euroestudios and Grupo Eulen.

Alvarado recalled that his country achieved its highest level of growth for a decade in 2021, at above 7%, as well as its recent entry into the OECD, the result of an ambitious reform package. “This policy will not end here, with this administration. Because this policy is a national policy, the fruit of a country’s vision,” Alvarado said, highlighting the economic, political and social security it offers. “Your success in Costa Rica is our success,” Alvarado said, stressing that, thanks to its geographical location and a series of trade agreements, Costa Rica is also a “gateway” to other markets representing 2.5 billion people.

In the same vein, the Costa Rican Minister of Foreign Trade, Andrés Valenciano, pointed out the “opportunities for investors and importers” as well as the “value proposition of the country based on People, Purpose and Planet.” Valenciano explained the diversification of the Costa Rican economy, in which there is already a significant percentage pertaining to the ICT sector (8%), as well as the business services sector (20%).

The Secretary of State for Trade, Xiana Méndez, stressed that it is necessary to strengthen alliances between Spain and Costa Rica. According to the person responsible for Trade, “with direct investment of more than 1 billion euros, Spain is among the four main investors in the Costa Rican economy and is the eighth-largest supplier to this market.” Méndez also highlighted the presence of a large group of Spanish companies in the Central American country “that contribute to employment, to the social and technological development of the country and who contribute experience and know-how in strategic sectors, such as transport, energy and water, in order to invest in boosting its energy resources.”

For the Secretary of State for Trade, “this business meeting is an excellent opportunity to promote our mutual knowledge and cooperation and to deepen our bilateral economic, business and commercial relations, to which we hope to give renewed impetus as strategic partners.”

For his part, the President of the Spanish Chamber of Commerce, José Luis Bonet, thanked “the political impetus” afforded to relations with Spain, as well as the “ Government’s support for our companies.” Bonet highlighted “the high level of sectoral diversification” of Spanish trade and investment in Costa Rica, as well as “the commitment shown by Spanish companies to remain for the long term and to job creation and the growth of the Costa Rican economy.” “Many opportunities have opened up in recent years in a dynamic economy such as Costa Rica’s,” said the President of the Spanish Chamber of Commerce. “The entry into force of the trade pillar of the Association Agreement between the EU and Central America is accompanied by important bilateral agreements,” he recalled.

The Vice-President of the CEOE and president of CEPYME, Gerardo Cuerva, also emphasised the large group of Spanish companies operating in Costa Rica with a firm commitment to remain and with a very significant presence in sectors such as the economy, energy, infrastructure and telecommunications. A presence, he stressed, which is backed by our involvement in the Ibero-American Summits, the European Union-Central America Association Agreement, and within the OECD, and which serves to further strengthen legal security, the investment climate and the advantages of keeping an economy open to trade. “The fact of its being a party to the free trade agreement between the United States, the Dominican Republic and Central America places Costa Rica in an unbeatable position as an investment destination, logistics hub and production centre for goods and services in a market of 1 billion consumers,” he said. Finally, Cuerva underscored the great work the CEOE does with our counterpart organisation UCCAEP and, beyond bilateral relations, the close collaboration between all the organisations within the Council of Ibero-American Businessmen-CEIB