Costa Rica’s government said on 28 October that it will archive its bid to join the CPTPP, a 12-country Pacific trade pact, instead of signing it. If you are buying export-linked land, a farm, a factory or a small business, this removes a possible tailwind from your plan, and the lesson is to pay for the rules in force today, not for a deal a government might sign later. We write this mainly for expat and international buyers of businesses and land, and secondarily for developers and operators.

What happened

• On 28 October President Laura Fernández ordered the accession archived and not signed, and dismissed Trade Minister Indiana Trejos (Tico Times; Infobae).
• The stated reason is that the full text was never shared with affected sectors, mainly cattle, dairy and small fruit and vegetable growers; she also acknowledged the market of roughly 600 million consumers.
• Costa Rica applied in August 2022, was invited to start accession talks in November 2024, and members said on 5 May 2026 that negotiations had substantially concluded (Bloomberg Línea).
• The 12 CPTPP members account for about 15% of world GDP and 18% of global goods trade, per the same report.
• Costa Rica already has 18 free trade agreements in force, and this is the second trade minister dismissed in 34 days, after Manuel Tovar on 24 September (La Nación).
• The government promised support for non-exporting farmers, including more state purchases from local producers and action on smuggling, but gave no budget or timeline.

What This Means If You Are Buying

The assets most exposed to this decision are businesses that sell abroad, farmland and packing sites that serve exporters, and industrial lots bought on the idea that new market access would lift demand. A seller who values growth on that story is asking you to pay today for something that now has no date. The cost of that gap lands on the buyer, because the price is fixed at closing while the policy is not.

The regional split matters more than the headline. In January to July 2026, North America was about 47% of goods exports, down from 51%, and it fell 1% largely because of weaker medical-device sales, according to the same report. Europe and Asia grew faster from smaller bases. We could not find a published figure for how much of Asia’s total goes to the CPTPP’s Asian members, so we cannot tell you how much of that growth the pact would have touched. Ask any exporter you are buying for sales by country, not by region.

Here is the timeline a buyer can verify, with the sources that give each date:

The structuring lesson is simple. Value the business or land on cash flows under the rules in force on closing day. If the seller insists the pending policy is worth something, move that value into a contingent payment, such as an earn-out tied to measured export sales, rather than the headline price. This is our read, not a forecast, and a Costa Rican attorney or notary should draft any such term for your own transaction.

What Could Go Wrong

• The seller’s forecast quietly assumed lower tariffs or new buyers that now will not come.
• Policy direction keeps changing: two trade ministers have gone in 34 days and Procomer’s general manager announced her resignation on 26 October (La Nación).
• Farm-support promises have no budget or date, so protection for local growers may not materialize.
• Sources disagree on the meaning: the government frames the move as protecting farm jobs, while former trade officials quoted by La Nación call it a blow to the country’s credibility.
• Your exit buyer may also pay less if the market sees Costa Rica as a less predictable place to expand.

The upside case is real. Costa Rica keeps 18 trade agreements in force, farm-heavy buyers may gain from the protection, and the file could return under a different process. What would have to happen is a named replacement minister, a published plan for the farm support, and a clear statement of how existing agreements will be used. Those are the signals that would confirm it.

Your Next Steps

• Business buyers: ask for export sales by country and customer for three years, and rerun the price with no new market access.
• Land and farm buyers: ask whether the asking price assumes new export demand, and have your attorney check zoning, water and title before you rely on any growth story.
• Developers and operators: if a project depends on exporter tenants, model one case where those tenants do not expand.
• Expat buyers: hire a Costa Rican attorney or notary before signing, and use contingent payments for anything the seller claims policy will deliver.

What to watch next: the CPTPP member meeting on 23-27 November 2026, where Costa Rica had been expected to decide on signing.

Resumen en español

• El 28 de octubre Costa Rica archivó su adhesión al CPTPP, un pacto de 12 países; compradores de negocios y terrenos deben valorar según las reglas vigentes, no según un acuerdo pendiente.
• Entre enero y julio de 2026, América del Norte fue cerca del 47% de las exportaciones de bienes ($6,560 millones, -1%), Europa creció 10% ($3,048 millones) y Asia 31% ($1,008 millones).
• Pida ventas por país, use pagos contingentes y consulte a un abogado o notario costarricense. Próxima fecha clave: reunión de miembros del CPTPP del 23 al 27 de noviembre.

Related reading: Buying an Export Business in Costa Rica? Read the Trade Gap First, Buying Industrial or Farm Land in Costa Rica? and our Buyer Guides.

Data as of 29 October 2026. Figures marked preliminary will be revised. This is general market commentary, not investment advice.

Sources

• Tico Times, 28 Oct 2026
• Infobae, 28 Oct 2026
• La Nación
• Bloomberg Línea
• Delfino / Procomer export data, 25 Aug 2026
• Rio Times, Brazil buyback
• Rio Times, Capstone Copper
• Rio Times, Argentina and the IMF
• Tico Times, property registry fraud

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