Weekly review

Trade opening

Costa Rica is the second country in Latin America that meets the best conditions for trade and business, according to the World Economic Forum, which ranked 118 countries. The first place goes to Chile, the most liberalized economy in the region, which offers investors the best conditions. The Forum pointed out Costa Rica’s opening to imports with low or no-tariffs and an efficient customs system. Currently, the country has a 13 percent average tariff for agricultural imports and a 4.7 percent one for industrial goods. At the global level, Chile placed 27th and Costa Rica 44th.

$403-million deal

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Multinational firm Fresh Del Monte Produce –with headquarters in Coral Gables, Florida– paid $403 million for Costa Rican group Caribana, which exports bananas and pineapples. In Costa Rica, Fresh Del Monte Produce owns Banana Development Corporation and Pineapple Development Corporation. The former is second only to Standard Fruit Company in banana exports.

Confidence in Costa Rica

The chief executive of the National Banana Corporation, Jorge Sauma, and the chairman of the Pineapple Growers and Exporter Chamber, Abel Chaves, reckon that the purchase of Caribana by Del Monte means confidence in the production of Costa Rica and certainty that the market will be healthy in the coming years.

Tourism grows

The arrival of tourists in Costa Rica continues increasing, in spite of the hardships of U.S. economy and the more expensive plane tickets resulting from the upward trend of fuels. During the first five months this year, the number of visitors increased by 133,000 (16 percent) as compared to the same period in 2007. The U.S. remains the leading source of tourists (54 percent), followed by Europe with 17 percent.

More trade with the U.S.

The President of Costa Rica Dr. Oscar Arias received the letters of accreditation of the new U.S. Ambassador to Costa Rica Peter E. Cianchette. The envoy forecast more trade, investment, and tourism from the U.S. Cianchette, a banker from Maine who has no experience as a diplomat, added that the war against drug trafficking and crime in general will be stepped up.

Digital city

Companies, non-profit organizations, and public institutions agree that San Jose can become the first “digital city” in Central America. This would involve easing life for citizens, explained Microsoft’s Ruben Bravo, by linking the city council and the people via the Internet and cell phones.

BlackBerry

The Costa Rican power and telecommunications institution (ICE in Spanish) announced that the popular BlackBerry intelligent phones will be available starting next August. ICE’s Claudio Bermudez also announced that the institution has contacted Apple in order to distribute here the third generation iPhone.

Arenal Volcano is growing

The material oozing out and solidifying atop Arenal Volcano makes evidence that the landmark is growing in plain view, volcanologist Eliecer Duarte –of the Volcanology and Seismology Observatory (OVSICORI in Spanish)– asserted. He added that this will continue in the coming years. The scientist pointed out that Arenal is a young volcano, since its current activity started 40 years ago, and is now expanding. However, he explained that the crater itself is not growing.

Whale watching

The protection of dolphins and whales in Costa Rican waters is becoming a profitable business for the country. On the one hand, it confirms the commitment of the nation with the environment and, on the other, it means bread on the table for many people –particularly fishermen turned tour guides—who make a living from whale watching. According to the environmentalist organization PROMAR, that particular type of tourism generated $5.32 million, 42 times the amount recorded in 1990, when the activity began in Costa Rica. Scientists say that this should not come as a surprise, since Costa Rican waters are home to 29 –or 34 percent– of the 85 species of cetaceans known around the world.

Green hotels and tours

The Costa Rican Board of Tourism (ICT in Spanish) will promote that more hotels and tour operators certify their activities as friendly with the environment. According to the ICT, only 94 of 3,000 businesses currently boast of a Tourist Sustainability Certificate. Using renewable energy, the treatment of garbage and of waste waters are part of the conditions met by the companies awarded the certificate, explained ICT general manager Allan Flores. He added that the policy also involves that the tourist sector adopt measures leading to lower the impact of climate change.

Half a million watch

Within hours, a U.S. lady who lives in Costa Rica recovered a diamond-studded watch, valued at $500,000, which she left at a checkpoint at Juan Santamaria International Airport. Airport Police officers found the watch, but its owner was on flight to Miami by that time. Upon recovering her watch, the lady pointed out the honesty of the officers.

Money laundering

A court in Alajuela ordered the arrest of a Guatemalan businessman who claimed he was the owner of $2.1 million cash that the police confiscated at Juan Santamaria International Airport, when they arrested two Guatemalans upon arrival at the terminal. The alleged owner of the money said that it was to pay suppliers in Panama. On the other hand, two men were arrested with $370,000 in $100 bills. They claimed that the money was to pay for plantains. Both cases come under the drug-trafficking and money-laundering laws in Costa Rica.