The trade office in Houston aims to increase investment and exports with the south-east region of the U.S.
- Procomer photo -
Published Tuesday, June 15, 2021
Despite the health crisis and economic crisis triggered by the pandemic, the government through Costa Rica's Export Promotion Agency, Procomer, opened a new trade office in Texas, U.S.A.
The trade office in Houston aims to increase investment and exports with the south-east region of the U.S. They will work on the promotion of Costa Rican products and services that have potential in the zone, as well as opportunities for investments and strategic alliances.
The official opening of the Procomer trade promotion office took place at the headquarters of the Greater Houston Partnership, the city's largest Chamber of Commerce.
This is Procomer's fourth office in the U.S., including Miami, New York and California. The U.S. is the third North American country to install a Procomer office. There is already a trade office in Canada and Mexico.
According to the Costa Rican agency, various studies have identified potential for exports in southern and eastern U.S. in sectors such as foodservice, information and communications technology (ICT), agricultural products, roasted coffee, health care services, the aerospace industry and artisan beer, among others, including products that Costa Rica produces with certified quality.
"Texas is the ninth-largest economy in the world, as corroborated by the intensive migration of people and companies from other U.S. states, because of its pro-business environment and job growth," Pedro Beirute Prada, General Manager of Procomer said. "Additionally, 30% of Costa Rica's international trade with the U.S. is with the state of Texas."
According to Beirute, opportunities in information and communications technology, creative industries, biotechnology and life sciences, digital animation, advanced manufacturing and medical technologies, are why they decided to increase their presence in that state.
"We have detected strategic opportunities in this region, and the goal of this trade promotion office (TPO) is to leverage them and to continue building a solid commercial relationship that allows us to do purposeful business focused on people, the planet and prosperity," he said.
Costa Rica's Promoter of Foreign Trade indicated that moving into the south-east region of the U.S. is a good strategy for the country as the growth in GDP in those states has been highly dynamic. Additionally, the five states with the greatest share of the Hispanic or Latin American population belong to the West, which is an advantage since its population is accustomed to the region's products.
The trade promotion office in this state will offer services such as attracting direct foreign, representing business interests carried out by the Costa Rican Consulate in the city, providing support to the Chancellery, offering the products and services of Costa Rica to buyers in Texas, among others.
The trade office in Houston will be run by Andrew Crawford Bolton, who has served as director of other Costa Rican trade offices, such as those in the Dominican Republic and Mexico.
According to the export agency, despite the global crisis caused by the covid-19 pandemic, Costa Rica export sector showed a growth of 1.9% in the export of goods in 2020, leading to record of $11.6 billion, which is $202 million more than was exported in 2019, a year in which there was no pandemic.
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