On Thursday June 23rd, Pacheco Coto in conjunction with the Costa Rican Chamber of Industries, hosted the conference: “Implications of Mega-regional agreements for your business”. This conference featured Dr. Pierre Sauvé, Director of External Programs of the WTI, and attorney Jorge Miranda, renowned lawyer from King and Spalding international law firm. Moreover, Partner Fernando Vargas and senior associate Carolina Palma, both of Pacheco Coto, participated as commentators of the event.
The main reflections of Mr. Pierre Sauvé revolved around the nature and importance of Mega-regional agreements, recent border agreements in international trade, their inherent features and essential qualities, implications for non-members, consideration of important issues such as tariff liberalization, strengths and weaknesses of WTO as the way forward in trade liberalization.
Fernando Vargas commented on how Costa Rica has pursued a successful business strategy that has positioned the country in the global market. Today over 350 multinational companies of medium and high technology, services and manufacturing are headquartered in Costa Rica, operating under the Free Trade Zone Regime and the importance of enhancing such strategy by negotiating the Pacific Alliance. Also, Carolina Palma, Director of the International Trade and Customs Division of the firm, commented on the benefits that Mega-regional agreements would bring to Costa Rican companies in the different industries, as well as possible consequences for Costa Rica if it fails to adhere to these agreements.