On August 5, at the headquarters of the Ministry of Industry and Trade, with the consent of the President of Costa Rica, Rodrigo Chaves, Minister of Foreign Trade of Costa Rica Manuel Tovar directly announced and handed over a diplomatic note on Costa Rica's recognition of Vietnam as a country with a market economy, becoming the 73rd country to recognize the nation’s market economy status.
Costa Rica is a member of the World Trade Organization (WTO) and the Organization for Economic Cooperation and Development (OECD) – an organization of 38 countries with the most developed market economies in the world.
Costa Rica's legal regulations include provisions on investigation and application of trade defence measures.
According to WTO statistics, by December 31, 2023, Costa Rica had initiated 12 anti-dumping investigations on imported goods from countries such as Brazil, Chile, Mexico, the United States, Nicaragua, El Salvador, Venezuela and Guatemala.
The fact that the Minister of Foreign Trade of Costa Rica issued a diplomatic note recognizing Vietnam as a market economy in anti-dumping and anti-subsidy investigations is a positive move amid the nation asking some trade partners to recognize Vietnam's market economy status.
At the meeting, Minister of Industry and Trade Nguyen Hong Dien welcomed Costa Rica's diplomatic note recognizing Vietnam as a market economy in anti-dumping and anti-subsidy investigations.
Costa Rica's recognition of Vietnam as a country with a market economy reflects the reality of the country’s achievements in the process of national development and integration into the world economy, and will contribute to boosting the development of bilateral economic and trade ties between the two countries.
