Costa Rica to join UK as member of 拢13 trillion global trade bloc
Costa Rica to join UK as member of 拢13 trillion in GDP global trade bloc
-
狈别飞听补肠肠别蝉蝉听蹿辞谤听鲍碍听别虫辫辞谤迟别谤蝉听迟辞听尘补谤办别迟蝉听颈苍肠濒耻诲颈苍驳听产别别蹿,听肠丑别别蝉别听补苍诲听补苍颈尘补濒听蹿别别诲听
-
Greater freedom听for听UK听services听professionals to听operate听within听market听
-
Further听new听joiners听expected as听bloc听strengthens听global network
Costa听Rica has been听granted听accession听to听the听Comprehensive听and Progressive听Agreement for Trans-Pacific听Partnership听(CPTPP).听
The听Central听American听nation听will now听formally听join the听UK听as a member of听the听trading bloc, which has a听combined听GDP听of听拢13听trillion,听according to 2025 data.听
Once ratified,听Costa Rica鈥檚 accession will听benefit听UK businesses听from day one.听Exporters will听听able to听take听advantage听of听duty-free access听(within a quota)听for听goods听like听cheese听(including cheddar),听confectionery听and animal听feed.听Exports听of pork and biscuits will become duty-free within听five听years,听beef within听eight听and cheese within听12.听听
We have opened these sectors while protecting our farmers, by not increasing access to sensitive agricultural sectors including beef,听pork听and chicken. We have also not offered any greater market access to Costa Rica than to other CPTPP members.听听
UK companies will听also听have legally guaranteed access to bid for Costa Rican public procurement,听allowing them to bid for government contracts under CPTPP rules.听听听
Costa Rica鈥檚 accession to CPTPP strengthens the existing services and investment听relationship听between听the UK and Costa Rica, giving UK businesses greater certainty, clear rules, and improved access to a market where services and investment already underpin听the majority of听bilateral trade.听听
The听services and investment听liberalisation听that Costa Rica has agreed to as part of their accession to CPTPP shows the value of听the听bloc听in听promoting听high-value, open, and predictable services and investment trade flows between CPTPP members.听听
Through accession to CPTPP, Costa Rica has agreed to听liberalise听its professional services regime across 19 regulated professions including in听legal, accounting, and engineering services.听This听liberalisation听goes far beyond any of Costa Rica鈥檚听previous听trade agreements and provides a more open and accessible market for UK professionals.听
The UK will also听benefit听from Costa Rica鈥檚听most ambitious听Temporary Entry听offer听to date,听including a new CPTPP-specific temporary entry route offering previously unavailable categories of听Business Persons听such as Contractual Service Suppliers, Independent Professionals and听Specialised听Technicians, with priority sectors secured for UK providers.听听
Costa Rica鈥檚 accession will听represent听the first time they have taken international obligations on State-Owned Enterprises helping to protect British businesses from market distortions.听
For Financial Services, Costa Rica鈥檚 accession to CPTPP provides UK firms with legal certainty on their ability to provide portfolio management and e-payment card services to Costa Rican clients on a cross-border basis.听听听
CPTPP is open for growth: we are negotiating with Uruguay and planning to start discussions with Indonesia, the听Philippines听and the UAE this year, if possible.听The fact that听the CPTPP听is growing and has several other countries who want to join shows that there is a strong appetite around the world for free and fair trade based on a shared set of rules.听
Additional Information:听听
听
The UK and the Comprehensive and Progressive Agreement for Trans-Pacific Partnership鈥�(CPTPP) - 扒哥吃瓜