The Region's Most Important Business Event Kicks Off With Over 4,000 Scheduled Business Meetings, the 25th Edition of BTM Begins

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Sep 27, 2023, 20:07 ET

Participating companies represent the agricultural, food, specialized industry, and service sectors.
The event is taking place on September 27th and 28th at the Costa Rica Convention Center.

SAN JOSÉ, Costa Rica, Sept. 27, 2023 /PRNewswire/ -- With the aim of promoting exports from Costa Rica's agricultural, food, specialized industry, and service sectors, involving more than 600 micro, small, medium, and large companies, the 25th edition of the Buyers Trade Mission (BTM), the most important business event in the Central American region, organized by the Foreign Trade Promotion Agency of Costa Rica (PROCOMER), began this morning.

The inauguration of BTM was attended by the President of the Republic, Rodrigo Chaves; the Minister of Foreign Trade and President of the Board of Directors of PROCOMER, Manuel Tovar; the General Manager of PROCOMER, Pedro Beirute; as well as officials from other ministries, CEOs, representatives from business chambers, and special guests.

This year's BTM gathers more than 300 international buyers from 47 countries, with the largest delegations arriving from the United States, India, Nicaragua, Puerto Rico, Guatemala, Honduras, Panama, Mexico, Peru, El Salvador, China, and Ecuador. Furthermore, over 600 Costa Rican exporters are participating, showcasing a diverse array of over 2,000 products and services.

"Costa Rica is a country open to trade, as evidenced by the 17 free trade agreements that currently cover nearly 80% of the country's international trade. This robust trade platform, combined with Costa Rica's compelling value proposition, has facilitated the global entry of Costa Rican products. Today, we celebrate another edition of BTM, a pivotal tool for domestic enterprises, particularly SMEs, to gain exposure and secure new business opportunities," stated Manuel Tovar, Minister of Foreign Trade and President of the Board of Directors of PROCOMER.

Pedro Beirute, General Manager of PROCOMER, added, "The foreign trade sector is Costa Rica's economic engine, representing 41% of the GDP and generating over 600,000 jobs in the country. BTM is a vital instrument for Costa Rica's export sector, especially for micro, small, and medium-sized enterprises. Through BTM, we bring the world to Costa Rica, enabling these enterprises to create more and better business opportunities, leading to increased economic development and prosperity for all."

Out of the 600 participating export companies at BTM 2023, 31% belong to the food sector, 21% to services, 20% to the specialized industry, 13% are agricultural, and 15% are multisectoral, meaning they operate in more than one of the mentioned sectors.

Moreover, approximately 200 companies originate from various regions outside the Greater Metropolitan Area (GAM), with the Huetar Norte, Pococí, and Brunca regions having the highest participation rates at 25%, 24%, and 16%, respectively.

In 2023, BTM expands its scope beyond offering opportunities solely for Costa Rica's export sector; it also attracts potential foreign investors. Fifteen buying companies have come to the country with a dual purpose, including an interest in analyzing investments in Costa Rica. These companies belong to sectors such as agriculture, agri-food industry, agri-tech, ICT, advanced manufacturing, distribution centers, light manufacturing, among others, and originate from countries such as Spain, the United States, the Netherlands, Germany, Guatemala, the United Kingdom, Belgium, and Mexico.

Mónica Umaña, Investment Manager at PROCOMER, affirmed, "Just as BTM has been a global showcase par excellence for the export sector, it now serves as a positioning tool for the country in attracting investments. Thanks to the prestige of this business event, we have managed to capture the interest of around 15 buying companies with the potential to invest and grow in Costa Rica."

The recruitment of these potential investing buying companies was undertaken by PROCOMER's Commercial Promotion and Investment Offices (OPCs) abroad. In total, there are approximately 100 business meetings that the Investment Management and Export Development Management of the Institution will attend to.

A New Tool for Conducting Business

One of the innovations of BTM 2023 is "Buy From Costa Rica," a new digital platform that facilitates connections between hundreds of Costa Rican exporters and buyers from around the world, thereby promoting business growth.

"Buy From Costa Rica," a tool provided by PROCOMER to the export sector free of charge, empowers companies to expedite revenue generation and simplifies consumers' product search. Additionally, domestic suppliers can tailor their product catalogs to match buyer interests, establish direct connections with both current and potential clients, and manage quotation requests efficiently and conveniently.

The platform allows exporting companies to add their corporate information, certifications, country brand licenses (such as Essential Costa Rica), sector, subsector, product categories, photographs, and contact details.

Upon meeting the requirements* and registering on the platform, companies will automatically be integrated into PROCOMER's database and will enjoy supplementary benefits. These include the ability to verify potential customer information, receive various invitations to trade promotion programs, training, and events.

Furthermore, buyers will benefit from streamlined commercial contacts, supplier meeting coordination, supplier operation verification, information regarding available exportable offerings, logistical information concerning trade with Costa Rica, and insights into investment opportunities in Costa Rica for business expansion.

SOURCE PROCOMER