SAO PAULO - Costa Rica's President Laura Fernandez said Wednesday that the Central American country is dropping its bid to become a member of the trans-Pacific free trade pact.
The president cast doubt on transparency in negotiations for the pact. The country had reached a broad agreement in May on joining what is formally known as the Comprehensive and Progressive Agreement for Trans-Pacific Partnership.
Having applied for membership in 2022, Costa Rica reportedly faced opposition from its agricultural sector in attempting to join the 12-member framework.
A number of countries are seeking membership in the multilateral pact that took effect in 2018, following a U.S. withdrawal under President Donald Trump during his first term. Existing members include Australia, Canada, Japan, Vietnam and Chile, as well as Britain, which joined in 2024.
