India and Costa Rica hold First Joint Economic and Trade Committee (JETCO) Meeting

📌 Summary:

• The 1st India-Costa Rica Joint Economic and Trade Committee (JETCO) met virtually on 6-7 July 2026
• Co-chaired by Joint Secretary (Dept of Commerce) Shri Vimal Anand and Costa Rica's Director General of Foreign Trade Ms. Adriana Castro
• Bilateral merchandise trade grew to ~USD 391 million in 2025-26
• Discussed standards, accreditation, certification, food safety, pharmaceutical regulation and export certification to reduce technical barriers
• India highlighted strengths in pharmaceuticals, digital technologies, manufacturing and innovation; Costa Rica presented the Central American trade integration regime
• JETCO, established under an MoU on Economic Cooperation, is the principal institutional mechanism to review bilateral trade and investment

🎯 UPSC Relevance: GS2 IR — India's bilateral economic diplomacy with Latin America and institutional trade mechanisms.

📝 Prelims Facts:

• India-Costa Rica bilateral trade in 2025-26: ~USD 391 million
• JETCO established under India-Costa Rica MoU on Economic Cooperation

🔑 Key Term: JETCO (Joint Economic and Trade Committee) — a government-to-government institutional platform to review and expand bilateral trade and investment.