On 1 August 2011, China and Costa Rica sign the Free Trade Agreement — the bilateral FTA liberalising goods trade and opening services markets between the two economies.

The deal follows the establishment of diplomatic relations (2007) and belongs to China’s Latin American trade-partnership strategy and Costa Rica’s export diversification.

Negotiated quickly after diplomatic recognition, it cuts tariffs across a wide range of products and includes rules of origin and dispute settlement.

Entry into force followed ratifications. It remains a model China–Central America FTA.

For China–Central America trade, 1 August 2011 marks the signing of the Costa Rica FTA.

The official text is published by MOFCOM / Costa Rican authorities.

The China–Costa Rica FTA of 1 August 2011 remains the milestone of bilateral free trade.

Image: Costa Rica / China; Wikimedia Commons. Cropped to 16:9.

Source consulted: China-Costa Rica Free Trade Agreement. Treaty text: China-Costa Rica FTA (MOFCOM).