The Foreign Trade Promoter Agency (Procomer) opened a trade promotion office in Israel to encourage trade and investment in Costa Rica.

The new office in Tel Aviv City, was opened following the recent Costa Rica and Israel Memorandum of Understanding on a trade agreement to negotiate a Free Trade Agreement (FTA) between both countries.

From this office, commercial and investment strategies are developed, and it works as a support for both Costa Rican and Israeli business professionals, said Procomer in its statement.

According to Procomer, Costa Rica offers many advantages for international investors, such as:

A strategic geographic location, a time zone suitable for companies, and ports with connections to the main markets in the world.

Additionally, Costa Rica is the oldest democracy in Latin America. This gives it international recognition as a country of political and social stability, a characteristic that is fundamental to doing business.

Also, there are tax incentives that the free zone regime of Costa Rica grants to international companies.

Procomer statistics show that Costa Rica the home of around 400 multinational corporations. These recorded local purchases of more than $9 million in 2021.

All these multinational corporations join more than 2,000 Costa Rican export companies that, in 2022, exported over $15 billion in goods and more than $11 billion in services.

Many international firms are investing in Costa Rica. Recently, Establishment Labs Holdings, a global medical technology company specializing in breast implants, announced the opening of the Sulàyöm Innovation Campus in Coyol Free Industrial Zone in Alajuela Province.

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Which other country should sign a free trade agreement with Costa Rica?  We would like to know your thoughts on this story. Send your comments to news@amcostarica.com