India and Costa Rica have agreed to strengthen bilateral economic relations by enhancing business-to-business engagement, promoting institutional cooperation, and encouraging regular interactions between government ministries, regulatory authorities, and industry representatives. The decision was taken during the first virtual meeting of the India–Costa Rica Joint Economic and Trade Committee (JETCO), which serves as the primary platform for advancing trade, investment, and sectoral cooperation between the two countries.
During the meeting, both sides reviewed bilateral trade and investment relations and welcomed the steady growth in merchandise trade, which reached approximately US$391 million in 2025–26. They also discussed measures to further expand trade and investment opportunities and exchanged information on their respective trade policies, regulatory systems, standards, accreditation, certification, and export procedures to reduce technical barriers and facilitate smoother trade.
India highlighted opportunities for greater collaboration in pharmaceuticals, digital technologies, manufacturing, and innovation, while Costa Rica shared its experience in regional trade integration and Central American trade agreements. Both countries reaffirmed their commitment to using the JETCO framework to identify new areas of cooperation and further strengthen their economic partnership.
