India - Costa Rica to Triple Trade in Three Years

Feb 15, 2020

An interactive meeting on ‘Doing Business with Costa Rica’ was organised by MVIRDC World Trade Center Mumbai and All India Association of Industries in association with Indo Latin American Chamber of Commerce. Mr. Claudio Ansorena Montero, Ambassador of Costa Rica to India said, “Costa Rica can be a gateway to the region for many critical sectors including pharmaceutical and electric products. Also, we are seeking greater cooperation with Indian companies in medical devices, biotechnology, artificial intelligence, bio medicine, nano-technology, agri products as well as space cooperation. To accelerate bilateral trade both countries should sign the Preferential Trade Agreement (PTA) at the earliest. In addition to this, the regular exchange of commercial trade missions will also help to achieve this target at the earliest.”

Mr. Montero informed that Indian companies can use Costa Rica as a gateway to the northern markets of Mexico, US and Canada. Costa Rica has championed in the development of environment-friendly technologies and renewable energy and can support in India’s growing thrust on electric vehicles. Costa Rica has world’s 5% bio-diversity and this can help promote tourism as well as joint bollywood projects, he added.

Ms. Rupa Naik, Senior Director, MVIRDC World Trade Center Mumbai gave an overview of Maharashtra’s strong potential in promoting bilateral trade relations between two countries. She said that Maharashtra has one of the most developed trade infrastructure in the country. The development of industry clusters along with handicrafts, jewellery and herbal medicine sectors in addition to strong manufacturing including auto, core sectors as well information technology will help the state industries to look Cost Rica as the preferred destination to access the rapidly growing Latin American market.

Mr. N. K. Mishra, Director, Indo Latin American Chamber of Commerce in Mumbai gave the overview of Costa Rica and advantages offered by the Latin American country to Indian companies.

In Caption:

From (L-R) Mr. Umesh Unnikrishnan, Strategy Partner, Indo Latin American Chamber of Commerce in Mumbai; Ms. Rupa Naik, Senior Director, MVIRDC World Trade Center Mumbai; H. E. Mr. Claudio Ansorena Montero, Ambassador, Embassy of the Republic of Costa Rica in India; Mr. N. K. Mishra, Director, Indo Latin American Chamber of Commerce in Mumbai and Ms. Sangeeta Jain, Senior Director, All India Association of Industries.