CARICOM - Costa Rica Free Trade Agreement

The Free Trade Agreement between CARICOM and Costa Rica entered into force in 2005, fully or partially eliminating import tariff for most energy products and technologies, including: 

• Electric motors, turbines and generators; 
• Mechanical equipment including pumps, appliances, and other advanced machinery; 
• Electric accumulators, transformers, capacitors, batteries; 
• Motor vehicles; 
• Mineral ore, slag and ash; 
• Mineral fuels, oils and other products; 
• Metals and their articles e.g. iron and steel; 
• Semiconductors devices and photovoltaic cells; 

The Agreement also includes rules of origin. In order to benefit from preferential tariff treatment, goods must :

• be wholly obtained, eg. produced entirely within the territory of one of the Parties, without incorporating materials originating elsewhere, or
• not incorporate non-originating materials valued above 7% of the transaction value of the good, adjusted on a Free on Board (FOB) or Ex-works product price. 

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