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The World Economic Forum recently studied 118 Latin American countries to identify the best conditions for trade and business.
Costa Rica ranked 2nd in Latin America and 44th globally.
The Forum indicated Costa Rica’s high rankings are for:
Open to imports with low or no-tariffs
Efficient customs system
13 percent average tariff for agricultural imports
4.7 percent tariff for industrial goodsPlus
Recently the multinational company Fresh Del Monte Produce, headquartered in Coral Gables, Florida, paid $403 million for the Costa Rican conglomerate Caribana, which exports bananas and pineapples. In Costa Rica, Fresh Del Monte Produce owns Banana Development Corporation and Pineapple Development Corporation. Del Monte is second worldwide in banana exports.
Obviously, there is much confidence in Costa Rica.
Chief executive officer of the National Banana Corporation, Jorge Sauma, and the chairman of the Pineapple Growers and Exporter Chamber, Abel Chaves, agree that Del Monte’s purchase means confidence in Costa Rica’s growth and certainty that its markets will stay healthy for years to come.
I do not know anything about import tariffs in effect in other economies. They must be quite high. The U.S. rate for industrials is about 2%..agricultural products about 7%…both at half the rates quoted for CR.
As for an efficient customs system, from what I have heard, I am pretty sure it is much less efficient than the U.S. system but perhaps more efficient than the Mexican system.
Plus,there is a new disease coming for the cavendish banana and the big companies are not spending much at all to prepare for this.
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