Costa Rica, Panama Sign Free Trade Deal

With the signing of the trade deal, 91% of Costa Rican goods can now enter Panama duty free. Panama is Costa Rica's fifth export destination.

The trade deal is expected to greatly benefit small and medium sized exporters as well as conusmers on both sides of the border, with lower prices for many products.

"Costa Rica is Panama's major market in Central America", said Torrijos, who assures that the trade deal will mean a greater exchange of goods between the two countries as the two countries have strong commercial ties.

The trade deal frees up of any tariffs 90% of the goods now exchanged between the two countries and with the rest of products dropping duties in the next 3 to 17 years.

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