The CPTPP entered into force in 2018. After the United States announced its final withdrawal from the treaty, it was made up of Australia, Brunei, Canada, Chile, Japan, Malaysia, Mexico, New Zealand, Peru, Singapore and Vietnam.
The agreement withdraws 95% of the fees between its members. “There are 500 million people, potential consumers of Costa Rican products,” Foreign Trade Minister Manuel Tovar said at a press conference.
“It allows us to share commercial strategies, attract investment and cause linkages for small and medium-sized companies. It is the area of the world that is growing the most,” said Chaves after pointing out that the CPTPP integrates 17% of world trade.