Colombia and Costa Rica sign trade treaty ahead of summit

Colombia and Costa Rica signed a free-trade treaty on 22 May paving the way for trade between them worth an annual 400 million USD, and considered a prelude to Costa Rica's entry into the Pacific Alliance free-trade block, Caracol radio reported. The document was signed in Cali by presidents Juan Manuel Santos and Costa Rica's Laura Chinchilla and would benefit sectors like pharmaceuticals and beauty products, pesticides and dairy products, Caracol reported. Colombia was hosting on 23 May the Seventh Summit of the Pacific Alliance that presently includes Colombia, Chile, Peru and Mexico. Heads of states who arrived in Cali on 22 May included the presidents of Guatemala - a candidate for entry - Chile and Mexico, while the prime ministers of Canada and Spain were expected on 23 May. Some 400 businessmen and representatives of industries from 14 countries were also expected, Cali's El País reported on 22 May.