On October 30th, the Association Agreement between Central America and the United Kingdom (AACRU by its acronym in Spanish) was published in the official newspaper. This agreement aims to maintain trade relations, cooperation and political dialogue with Central America despite the "exit" of the United Kingdom of the European Union.
Currently, commercial relations are governed by the Association Agreement between Central America and the European Union, which allows goods to be exported to Great Britain at preferential rates. It is important to mention, that the validity of the AACRU is pending until ratification in the Parliament of Great Britain.
In addition to having approved the AACRU, last November the Free Trade Agreement with South Korea entered into force. This treaty is a product of the effort the country has made to open markets for Costa Rican product to the Asia Pacific market.
Between 2009 and 2018, Costa Rica's exports to South Korea grew at an average annual rate of 17.1% and imports at a rate of 7.4%. Among the main export products are agricultural products, food preparations, iron, steel and aluminum for recycling.
South Korea is a very attractive market for Costa Rica as it is a net importing nation of food and agricultural products, as well as being recognized for its global leadership in innovation.