Costa Rica Blogs - Newsfeeds

Costa Rica news, information, plus real estate & investment advice

Autor: Writer

~ 21/09/05

A Rose by Any Other Name - It doesn’t matter whether you call it an agreement, a treaty, an accord, a pact or whatever. According to the Vienna Convention they all have the same status, duties and obligations.

There Isn’t No Way Out - Opponents say that the agreement is “til death do us apart” and there are clear mechanisms for exiting the treaty within the accord. 6 month written notice is all that is required.

Costa Rica Doesn’t Give Up More Sovereignty - Costa Rica is already a member of the World Trade Organization and the CAFTA follows norms already established there.

Non-re-negotiable - the Notables concluded that Costa Rica must decide yes or no to the treaty as is. This is due to the fact that the U.S. has already ratified it.

Without CAFTA - Costa Rica would not be certain that the Caribbean Basin Initiatives would remain and would face tough competition for investment and trade from countries who do ratify CAFTA. Also international investors would receive a mixed signal, which could cause them not to do business in Costa Rica.

With CAFTA - This would allow Costa Rica to compete on a level playing field, but the country would still have to pass legislation and promote itself based on comparative advantages over other countries.

They also warned that the approval of CAFTA itself is not a great leap forward, it only is a tool (albeit an important tool) that must be used properly.

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