The Canada–Costa Rica Free Trade Agreement (CCRFTA) is a free trade agreement between

Costa Rica Costa Rica, officially the Republic of Costa Rica, is a country in Central America. It borders Nicaragua to the north, the Caribbean Sea to the northeast, Panama to the southeast, and the Pacific Ocean to the southwest, as well as Maritime bo ...

and

Canada Canada is a country in North America. Its Provinces and territories of Canada, ten provinces and three territories extend from the Atlantic Ocean to the Pacific Ocean and northward into the Arctic Ocean, making it the world's List of coun ...

. It was signed on April 23, 2001 in

Ottawa Ottawa is the capital city of Canada. It is located in the southern Ontario, southern portion of the province of Ontario, at the confluence of the Ottawa River and the Rideau River. Ottawa borders Gatineau, Gatineau, Quebec, and forms the cor ...

Ontario Ontario is the southernmost Provinces and territories of Canada, province of Canada. Located in Central Canada, Ontario is the Population of Canada by province and territory, country's most populous province. As of the 2021 Canadian census, it ...

, and came into effect on November 1, 2002. It is the first bilateral free trade agreement to include innovative stand-alone procedures on trade. 87% of all tariffs on agricultural products were eliminated, either immediately, or over a 7-14 year period. Tariffs on many other industries like automotive goods and goods were also eliminated. Several sectors of agriculture were excluded from the treaty; eggs,

dairy A dairy is a place where milk is stored and where butter, cheese, and other dairy products are made, or a place where those products are sold. It may be a room, a building, or a larger establishment. In the United States, the word may also des ...

poultry Poultry () are domesticated birds kept by humans for the purpose of harvesting animal products such as meat, Eggs as food, eggs or feathers. The practice of animal husbandry, raising poultry is known as poultry farming. These birds are most typ ...

and

beef Beef is the culinary name for meat from cattle (''Bos taurus''). Beef can be prepared in various ways; Cut of beef, cuts are often used for steak, which can be cooked to varying degrees of doneness, while trimmings are often Ground beef, grou ...

being excluded, and Costa Rica decided to leave

potatoes The potato () is a starchy tuberous vegetable native to the Americas that is consumed as a staple food in many parts of the world. Potatoes are underground stem tubers of the plant ''Solanum tuberosum'', a perennial in the nightshade famil ...

out of the FTA. Both nations agreed to use the

World Trade Organization The World Trade Organization (WTO) is an intergovernmental organization headquartered in Geneva, Switzerland that regulates and facilitates international trade. Governments use the organization to establish, revise, and enforce the rules that g ...

rules for sanitary and phytosanitary issues (known as the SPS agreement). The main goals of the FTA include: *The establishment of free trade *The creation of opportunities for economic development *The elimination of trade barriers *The promotion of fair competition In the first 3 years of the agreement, trade increased by 36% (from $324 million to $440 million). It has been proposed that the Free Trade Area of the Americas be modeled after the CCRFTA.

History of trade balances

Amounts in thousands of Canadian dollars.

References

External links

Text of the treaty
{{DEFAULTSORT:Canada-Costa Rica Free Trade Agreement Free trade agreements of Canada Treaties concluded in 2001 Treaties entered into force in 2002 2001 in Canada 2001 in Costa Rica Treaties of Costa Rica Canada–Costa Rica relations