Last Thursday, May 30, a special event was held at the David Intercontinental hotel in Tel Aviv to promote commercial exchange between Costa Rica and Israel under the title “Expand your borders in Latin America – Costa Rica a 5-star country” .
The event was organized by Procomer, Costa Rica’s foreign trade agency, through Diana Cordero, its director in Israel.
Cordero explained that “this event was part of the strategy that the Procomer Foreign Trade Office in Israel is developing and that at the same time helped us prepare the ground for an important visit in June of a delegation composed of the Vice Minister of Foreign Trade, the CEO of Procomer and the director of the Discover program.
Costa Rica’s ambassador to Israel, Esteban Penrod
The opening of the event was led by the Costa Rican ambassador to Israel, Esteban Penrod. Subsequently, several speakers talked about the potential of investments in Costa Rica, as well as the facilities and legal means to have a successful business relationship with Costa Rican companies.
Pilar Madrigal, Director of the Promotion and Investment Department of CINDE, was in charge of presenting the important opportunities that Costa Rica offers for Israeli investors. In an interview with Aurora, Madrigal tells more about the event: “The event was a total success. We feel that people definitely have a genuine interest in Costa Rica, we feel that companies were really able to get rid of the notion that in Latin America there is only Mexico and Brazil and that there are great affinities, including proximity and a technological vision and an economy. of knowledge, in our case an evolution towards what they have in Israel.”
Madrigal highlighted that Costa Rica can offer commercial opportunities especially in areas such as Life Sciences and in the ranges of digital technologies such as software, cybersecurity, data analysis and even subsectors such as agricultural technology and advanced manufacturing, which are sectors that Costa Rica already has. advanced.
Pilar explained to Aurora that Costa Rica is already the second largest exporter per capita in the world and the first in Latin America in the medical implements sector and believes that “there may be synergies with Israel, particularly in the convergence of the medical implements sector with technology.” .
Madrigal also highlighted that Costa Rica has 52.000% of the world’s biodiversity in its 5 square kilometers: “that implies that we are a natural laboratory where a lot of innovation can come from in topics such as super foods, electricity and new materials and there we also see a latent and capable opportunity that is the one that can produce the greatest result in the short term.”
Vivian Liberman, who is a partner of the BLP law firm, also participated in the event and explained that today Costa Rican culture is “today on a path similar to that of Israel, seeking to be innovative and creative so it can develop in conjunction with the “Israeli companies, technology and innovation issues.”
Liberman was in charge of explaining during the event the legal ways for Israeli companies to have bilateral commercial relations with Costa Rican companies: “Our part was to explain to people from a legal point of view how the advantages that Costa Rica offers work, which These are important competitive advantages, but also the difficulties in presenting a realistic picture and comparing with other countries with which people from Israel normally invest. It is important that investors know from the beginning what the benefits and difficulties are once they want to invest in the country.”
Liberman considered that Costa Rica “is a market where the law is followed, and it is important to understand the parameters in which countries are measured, such as the ease of doing business, compliance with justice or what the procedures are like in the event of a judicial or administrative claim.”
Liberman’s law firm already works today with Israeli companies that invest in Costa Rica and highlights that in his opinion “there is a lot of potential. Costa Rica can become an important port of entry not only to reach Costa Rica as such but to all of Latin America. Costa Rica could become a type of hub for people who want to sell services or goods in the rest of Latin America and the world. It has certain conditions such as a significant number of free trade agreements, a tax incentive regime in free zones endorsed by the World Trade Organization. This has allowed us to attract, for example, a lot of investment from the US with even Fortune 500 companies.
Vivian considered that “Costa Rica is an extremely sexy for any type of investment and what we wanted was for people to know what the experiences are once they start investing in the country. There were a lot of people, more than expected, and there was a lot of interest in knowing more about the entire process.”
“We did this because we believe that it can really be a very attractive market. There are already Israeli companies in Costa Rica and the idea is to strengthen those relationships. This was a very good activity to begin this strengthening of commercial relations,” concluded Liberman.
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Publish date : 2024-06-03 22:56:50
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