Free trade with Panama
Costa Rica and Panama signed a free trade agreement that will allow 90 percent of Costa Rican goods to enter the neighboring countries with no tariffs levied on them. The tariffs for the remaining 10 percent will be deleted in 5 to 17 years. For Costa Rica, Panama is the fifth major trade partner, preceded by the United States, China, Nicaragua, and Guatemala. The agreement will become effective in about one month, after the proper legal reviews.