With aim of deepening bilateral ties, India and Costa Rica have held their first meeting of the India-Costa Rica Joint Economic and Trade Committee (JETCO). During the meeting, both sides reviewed bilateral trade and investment relations, exchanged views on their respective trade and investment regimes, and noted with satisfaction the steady growth in bilateral merchandise trade to around $391 million in 2025-26. The discussions were also focused on opportunities to further expand trade and investment.
Further, the two sides exchanged information on their respective standards, accreditation, certification and regulatory frameworks, and explored cooperation in areas such as standards development, conformity assessment, food safety, pharmaceutical regulation and export certification to facilitate trade and reduce technical barriers. Besides, the Indian side highlighted its strengths and identified opportunities for enhanced cooperation in pharmaceuticals, digital technologies, manufacturing and innovation, while the Costa Rican side presented an overview of the Central American trade integration regime and its experience in regional trade negotiations.
Moreover, both sides agreed to strengthen business-to-business engagement, promote institutional cooperation, and encourage regular interactions between the concerned Ministries, regulatory authorities and industry. They reaffirmed their commitment to deepen bilateral economic ties and agreed to utilise the JETCO as a key platform for advancing trade, investment and sectoral cooperation.
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