Costa Rica?s envoy to India Juan Fernando Cordero speaks to FE?s Huma Siddiqui on bilateral trade. Excerpts:
What are the opportunities for Indian investors?
There are opportunities for expansion and diversification. To this end, the Costa Rican ministry of foreign trade is preparing a proposal of agreement on reciprocal promotion and protection of investments to be presented to the Indian government. We are keen in several sectors including IT, services, advanced manufacturing, life sciences, clean energy and education.
Are there any tax incentives?
The free trade zone regime, which generates over 50% of the country?s exports, grants beneficiary companies a 100% exemption on import duties on raw material, components and capital goods; 100% exemption on taxes on profits, 100% exemption on capital taxes, and expedited on-site custom clearance. Similar programmes provide additional fiscal benefits. These include opportunities for tax-free imports of essential machinery, equipment, raw materials and semi-elaborated products.
Are you tapping Bollywood to promote your country as a preferred destination?
Yes. We are going to re-activate our contact with Bollywood as we have very scenic locations to offer for film shoots, as this is one of the ways of promoting our country.