OECD Showcases Costa Rica as a Model for Productive Transformation

Costa Rica kicked off the second half of the year with an active participation in the 18th International Economic Forum on Latin America and the Caribbean. As reported by media outlets such as Forbes Centroamérica and ABC in early June, Costa Rica presented its development model to the OECD, which is anchored on attracting foreign direct investment (FDI), promoting economic openness, and pursuing market diversification.

During the event held in Paris, France, the head of the Ministry of Foreign Trade, Minister Indiana Trejos, highlighted that the forum serves as an exceptional platform to showcase Costa Rica’s hard-earned success to the world.

Furthermore, she underscored the critical role of medical devices in Costa Rican exports, while also pointing to the sophisticated business services sector. This sector has grown to represent 43% of total national exports, underscoring a structural shift toward a more sophisticated and diversified economy. Among the country’s strategic actions to achieve these goals, she emphasized regulatory simplification, which facilitates business formalization and enables more companies to integrate into the formal economy.

Finally, the Minister reflected on Costa Rica’s experience within the OECD which it joined as a full member five years ago, noting the organization’s structural influence on the country’s institutional framework and the implementation of global best practices in public policy development.

For more details, visit Forbes Centroamérica y ABC