Costa Rica Auto Market Briefing & Trade Mission. Webinar March 8, 2018
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1 Costa Rica Auto Market Briefing & Trade Mission Webinar March 8, 2018
2 Welcome Kellie Holloway, Sr. International Trade Specialist, U.S. Department of Commerce Exploring New Markets in Latin America Angela Chiang, Director International Affairs, Auto Care Association Agenda General Overview Costa Rica Roy Fernandez, Senior Commercial Specialist, U.S. Commercial Service Costa Rica Automotive Aftermarket Overview Costa Rica Roy Fernandez, Senior Commercial Specialist, U.S. Commercial Service Costa Rica Trade Mission Benefits Carolina Arregoces, Associatte International Affairs, Auto Care Association Q&A
3 President The U.S. Commercial Service assists and advocates for U.S. businesses in international markets to foster U.S. economic prosperity. Vice President Cabinet Enforcement & Compliance Industry & Analysis Clients
4 U.S. COMMERCIAL SERVICE GLOBAL PRESENCE Overseas, we re part of U.S. Embassies and Consulates worldwide; in countries where U.S. business needs us most. 128 International Offices in 75 countries account for 96% of world export markets. KEY RSCOs, SCOs, PCOs, HoS Partnership Posts
5 U.S. COMMERCIAL SERVICE DOMESTIC PRESENCE Virginia Offices Northern VA and Richmond We have over 100 Export Assistance Offices in the United States.
6 What is the Auto Care Association? The Auto Care Association has nearly 3,000 member companies, accounting for approximately 150,000 facilities and locations that manufacture, distribute and sell motor vehicle parts, accessories, tools, equipment, materials and supplies, and perform vehicle service and repair.
7 Government Affairs / Advocacy Education Programs & Resources Technology / E-Commerce Standards Market Intelligence Communications Resources International Growth / Business Development
8 Exploring New Markets in Latin America Award from U.S. Department of Commerce to promote exports Successful trade missions in 2016 and 2017: Guatemala, Peru, Colombia, Honduras and Nicaragua More than half of all of America s FTA partners are in Latin America More than 40 % of U.S. exports go to Latin America High level of used-car sales and used-vehicle imports Aging vehicle population Proximity and demand
9 FTA Benefits Under the FTA s with Latin America, most auto parts enter tariff-free Eliminates regulations that restrict international trade Strengthens protections for investments and property Facilitates and harmonizes customs procedures Establishes procedures for resolving disputes
10 Roy Fernandez Senior Commercial Specialist Costa Rica Country Overview
11 Costa Rica Highlights Democratic Republic $57.44 billion GDP (2017) Population: 4.81 million Literacy rate: 99.1% English widely spoken Population below poverty line: 22% Unemployment Rate: 9.3% (2017) Biggest trading partner: United States Biggest investor: United States Source: Central Intelligence Agency. (2015). The World Factbook: Costa Rica.
12 Costa Rica: Best Prospects Industries Automotive Parts and Service Equip. Renewable Energy Hotel / Restaurant Building/Construction Travel and Tourism Franchising REGIONAL INTEGRATION AS A MARKET STRATEGY
13 GDP per capita Source: World Bank Report (2016).
14 Peñas Blancas Border Tablillas Border Liberia New APM Moín Port Terminal Port of Puntarenas San José Port of Limón Sixaola Border Main Airports Main Ports New APM Terminal Borders Paso Canoas Border Costa Rica Map
15 Improved Inter- American Highway New Electric Commuter Rail San José Improved Oil Refinery Atlantic Coast New International Airport Orotina Costa Rica s Future Projects
16 Costa Rican Competitiveness CAFTA-DR Countries Exports to the U.S. $5,000,000 $4,500,000 $4,000,000 $3,500,000 $3,000,000 $2,500,000 $2,000,000 $1,500,000 Costa Rica Guatemala Nicaragua El Salvador Rep. Dominicana Honduras $1,000,000 $500,000 $ *Data taken from each country s Ministry of Foreign Trade, National Statistics Offices or Customs Directorates
17 Foreign Direct Investment, Net Inflows (CAFTA-DR and Panama) (US $ Thousands) $6,000,000,000 $5,000,000,000 $4,000,000,000 $3,000,000,000 $2,000,000, $1,000,000,000 $0 * Source: Data taken from the latest World Bank report
18 Challenges Inefficient government bureaucracy (highly legalistic) Quality of the country s infrastructure Financing infrastructure, bigticket items Security tops the list of U.S. business concerns in CR #1 in the world for stolen U.S. passports Entrenched competitors Time & Pura Vida : Things take longer than you expect Challenges in customs, such as high costs, excessive controls, borders Opportunities A strong, strategic partner in democracy Well-educated labor force Transparent institutions (but not necessarily efficient ) Business sophistication & innovation (with a big boost from U.S. companies) Good governance standards Strategic geographic location Focus on new technologies (biotech, aerospace, energy) Greater legal certainty, lower duties brought about by CAFTA
19 Costa Rica: A Market of Opportunities Auto Care Business Opportunities in Costa Rica
20 CAFTA - DR Free Trade Agreement between the USA, Central America and the Dominican Republic Comprehensive, Reciprocal Trade Agreement 80% of U.S. Manufactured Exports Enter Duty-Free to Central America Low Tariffs (1-17%) for Remaining Products Certificate of Origin Improved Business & Investment Climate Fewer Import Restrictions, Standards Are Similar To The U.S., & Labeling/Testing Greatly Simplified Competitiveness for US products Importers prefer US products: quality, durability, proximity, customer service, lower import tariffs, language
21 Costa Rica GDP: $57.44 billion, Per Capita: $11.8 thousand Inflation rate (2018 est.): 3%. Population: 4,872,516 Area: 19,730 sq. Mi Top Five Productive Areas (from Costa Rica s Central Bank) Tourism Medical Equipment Financial Services and Insurance Agricultural Products
22 Costa Rica Automotive Aftermarket Overview Total automotive aftermarket imports: $356 million. Total Automotive park: 1.6 million. Restrictions: Used or retread tires may not be imported into Costa Rica unless they come attached to a rim. Standards: Vary. The constitutional court has taken off some of the airbag standards and a new law in Congress plans to lower safety standards. Import of cars range between 40,000 and 80,000 per year, 60% are new, 40% are used cars over 8 years old. Distribution Channels: New and pre-owned car dealerships.
23 Costa Rica Automotive Aftermarket Overview AIVEMA: Car show for new vehicles changed the market. Tendencies: High quality, durability, availability and an assortment of vehicle parts, and fast delivery are the main factors for increasing U.S. sales of these products. Chinese-made products continue to be the second option for the Costa Ricans when importing auto parts. New law allows EV s to be imported with few taxes if under $30,000. No driving or parking restrictions, no payment of driving tax (for five years). Autoparts are well needed due to the hard conditions for vehicles, crowded streets, bad traffic. Mature marketplace for parts.
24 Costa Rica Automotive Aftermarket Overview Import and use of motorcycles has doubled in the last decade. Bikes are sold at popular houseware stores. Average model in Costa Rica is 16 years old. (2002) Internal taxes on vehicles double the original price as compared to the US Two brands make up half the sales of vehicles in Costa Rica: Toyota and Hyundai Used equipment, auto parts are not well received. Even used cars are now sold from the internal market. Number of importers of cars went down from 150 in 2005 to less than 30 today, and continues to decline, due to new vehicles sales with up to seven years financing available.
25 Costa Rica - Imports of Auto Parts by Country 1% 1% 1% 1% 2% 2% 3% 3% 4% 29% 1 ESTADOS UNIDOS 2 JAPÓN 3 CHINA 4 MÉXICO 5 COREA 5% 4% 5% 6 Others 7 BRASIL 8 ALEMANIA 9 TAIWAN 10 PANAMÁ 11 ITALIA 11% 14% 12 COLOMBIA 13 TAILANDIA 14 REINO UNIDO 13% 15 FRANCIA 16 ESPAÑA
26 Costa Rican Industry Associations Asociacion Costarricense de Importadores de Repuestos Automotrices - ACIRA echacon@europartesvega.com Importers of Used Vehicles CCA jose_carb@racsa.co.cr Association of Importers of New Vehicles AIVEMA aivema@racsa.co.cr
27 Our Services Gold Key Service International Partner Search International Company Profile International Buyer Program Contact List Business Facilitation Service Export Assistance Centers Commercial Service + 150
28 Contact Information CS Costa Rica Roy Fernandez - CS El Salvador Sandra Hernandez CS Guatemala Ana Polanco CS Honduras Rossana Lobo
29 Thank you!
30 Take the First Step Participate in a Trade Mission Business development opportunity supported by the U.S. Embassy to explore the market Successful trade missions in 2016 and 2017 One-on-one meetings with pre-screened, prospective customers and partners Access to key industry contacts, exposure to the local market Smaller, automotive specific delegation for customized assistance
31 Trade Mission to Costa Rica May Personalized one-on-one meetings through the U.S. Commercial Service Country & industry briefing by the U.S. Embassy Hotel accommodations, airport transfers and local ground transportation. On-site interpreters Meals Conference call with U.S. Embassy specialist to review specific goals/objectives
32 Trade Mission to Costa Rica Itinerary Monday, May 21: Delegation arrives in San Jose, Costa Rica Tuesday, May 22: Embassy country & industry briefing Personalized business-to-business meetings Group dinner Wednesday, May 23: Participants return to the United States
33 Trade Mission Costs Cost After Offset Auto Care Association Members $ 4,100 $ 2,100 Non-Members $ 4,600 $ 2,600 Each Additional Participant Members Each Additional Participant Non- Members $ 500 $ 600 MDCP Award Offset* $2,000
34 Register Now Step 1: Step 2: Step 3: Step 4: Register at Preliminary feedback from commercial specialists in country Notification on qualification Once payment is received, we will start working on your meetings DEADLINE: April 6, 2018
35 Testimonials Meetings were well planned with the right type of companies that we could potentially do business with. Staff did a fantastic job taking care of all of our needs APW Knox-Seeman Warehouse For a small company like us, we do not have all the resources to organize a fact-finding mission ourselves. Through Auto Care s trade mission, the U.S. Embassy requested meetings on our behalf, automatically boosting our credibility as a legitimate company. Murray Corporation Having the opportunity to meet with the leading companies in the automotive industry has opened a wide range of business venues we were long due to achieve. Herko Automotive Group The team did a magnificent job of setting up productive meetings with local businesses which are eagerly ready to create business relationships with our U.S. organization. Aftermarket Auto Parts Alliance
36 Questions? Thank you! Carolina Arregocés Associate, International Affairs Kellie Holloway Sr. International Trade Specialist U.S. Commercial Service, U.S. Department of Commerce
37 Join Us Next Webinar NAFTA Negotiations Update Impact on the Auto Care Industry Tuesday, March 13 at 2 p.m. ET
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