India and Costa Rica have agreed to deepen trade and investment cooperation through the Joint Economic and Trade Committee (JETCO) as bilateral merchandise trade reached $391 million in 2025–26. Both countries will promote stronger business engagement, regulatory cooperation and new opportunities in pharmaceuticals, digital technologies and manufacturing.
Key Highlights
- India-Costa Rica bilateral trade reaches $391 million in 2025–26.
- First JETCO meeting held to strengthen trade, investment and institutional cooperation.
- Focus on pharmaceuticals, digital technologies, manufacturing and innovation.
- Both countries aim to reduce trade barriers through regulatory and standards cooperation.
New Delhi, July 08: India and Costa Rica have reaffirmed their commitment to expanding bilateral trade and investment by strengthening cooperation through the India-Costa Rica Joint Economic and Trade Committee (JETCO). The first virtual meeting of the committee marked a significant step towards enhancing economic engagement, promoting business-to-business collaboration and creating new opportunities across priority sectors.
The inaugural JETCO meeting was co-chaired by Vimal Anand, Joint Secretary, Department of Commerce, and Adriana Castro, General Director of Foreign Trade of Costa Rica. During the discussions, both sides reviewed the current state of bilateral trade and investment relations, exchanged information on their respective trade policies and explored ways to further deepen economic cooperation.
Officials welcomed the steady rise in bilateral merchandise trade to approximately $391 million during 2025–26, highlighting the growing commercial relationship between the two countries. They agreed to use the JETCO mechanism as the principal platform for addressing trade-related issues, promoting investments and identifying new areas of collaboration.
A key focus of the discussions was regulatory cooperation to facilitate smoother trade flows. Both countries exchanged information on standards, accreditation, certification systems, food safety, pharmaceutical regulation and export certification, aiming to reduce technical barriers and improve market access for businesses.
The Indian delegation showcased opportunities for greater collaboration in pharmaceuticals, digital technologies, advanced manufacturing and innovation, while the Costa Rican side highlighted the country’s role in Central American trade integration and shared its experience in regional trade negotiations. The dialogue is expected to create fresh avenues for economic cooperation and strengthen commercial ties between the two economies.
Conclusion
The first India-Costa Rica JETCO meeting lays the foundation for a stronger economic partnership by expanding trade, encouraging investment and promoting regulatory cooperation, paving the way for sustained growth in bilateral relations.
