Costa Rica joins digital trade agreement founded by S’pore, New Zealand and Chile

Costa Rica has become the fifth member of the Digital Economy Partnership Agreement (DEPA), a digital trade initiative founded by Singapore, New Zealand, Chile, and South Korea. The agreement, which took effect in January 2021, sets guidelines for digital trade and economic cooperation, focusing on areas such as digital identities, cross-border data flows, and artificial intelligence. Costa Rica was formally invited to join DEPA during the Future of Investment and Trade Partnership meeting in Auckland, New Zealand.

The DEPA's membership expansion, announced on September 17, highlights the growing global interest in high-quality digital trade rules and cooperation. The agreement's inclusion of Costa Rica signifies its commitment to the open and inclusive nature of the partnership, offering parties more opportunities to collaborate on digital economy initiatives.

The joint statement by DEPA members welcomed Costa Rica's accession, emphasizing the value it brings to the agreement and the potential for strengthening digital integration within the Latin American region.

Costa Rica's Minister for Foreign Trade, Indiana Trejos, expressed her country's enthusiasm to actively contribute to DEPA and work closely with all partners to enhance digital trade and promote sustainable economic growth. She also highlighted the shared goal of enabling businesses, particularly smaller ones, to capitalize on the digital transformation's opportunities. Chile, New Zealand, and Singapore initially signed the DEPA in June 2020, with South Korea joining as the fourth member in May 2024.