The Albanese Government welcomes the substantial conclusion of negotiations on Costa Rica's accession to the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP).
Costa Rica's accession is an important step in the CPTPP's continued expansion and reflects CPTPP Parties' shared interest in reinforcing the rules-based trading system.
Costa Rica will eliminate 99.9 per cent of tariffs, including 15 per cent tariffs on wine, lamb and sheep meat, and premium beef meat. This market access offer reinforces the high standards of the agreement and demonstrates the level of ambition required of accession candidates to join the CPTPP.
Costa Rica's accession will also give greater certainty to Australian services providers, including skilled professionals, and to investors wanting to do business in Costa Rica.
Australia was pleased to support the process for Costa Rica's accession as chair of CPTPP in 2025, including hosting Ministers for the annual CPTPP Commission Dialogue in Melbourne.
The CPTPP is one of the most comprehensive trade deals ever concluded, connecting 12 economies, 590 million people and comprising nearly 15 per cent of global GDP. Its membership comprises Australia, Brunei Darussalam, Canada, Chile, Japan, Malaysia, Mexico, New Zealand, Peru, Singapore, the United Kingdom and Viet Nam.
Following the conclusion of negotiations, CPTPP Parties will finalise a draft Accession Protocol treaty instrument and undertake necessary treaty processes to effect Costa Rica's accession.
Quotes attributable to the Minister for Trade and Tourism Don Farrell
"The Albanese Government is committed to diversifying our trade relationships. Costa Rica's accession to the CPTPP deepens Australia's trade and investment links to Latin America ."
"The CPTPP is one of the most comprehensive trade deals ever concluded. Members of the CPTPP have demonstrated they can meet, implement and adhere to the rules and standards of the Agreement, and have a demonstrated track record of complying with trade commitments."
"Australia will continue to be a strong advocate for the rules-based trading order. We will continue to work closely with our international partners to deliver tangible economic benefits for Australians."
"I congratulate CPTPP members on agreeing this important milestone and look forward to continuing to achieve outcomes that strengthen our economies, deliver jobs and help reduce the cost of living for our communities."
