Costa Rica Backs US Trade Deal by Slim Margin

Costa Rican president claims victory for CAFTA vote
By Lucas Laursen,  Newser Staff
Posted Oct 8, 2007 6:37 AM CDT
Costa Rica Backs US Trade Deal by Slim Margin
A Costa Rica woman with her children casts her ballot at a polling station in the national referendum on a free trade agreement with the United States in San Jose, Sunday, Oct. 7, 2007. Costa Rican's voted Sunday in the referendum to decide whether to approve the Free Trade Agreement between Central...   (Associated Press)

Costa Rican voters narrowly approved a free-trade pact with the US last night, despite polls predicting they would quash it, the AP reports. With nearly 89%  of precincts counted, 52% favored the Central American Free Trade Agreement, and Costa Rican President Oscar Arias declared victory. Costa Rica is the last of the six signers to have ratified the treaty.

After a heated campaign over whether opening Costa Rican markets would bring economic development or exacerbate poverty, opponents refused to acknowledge defeat until a  recount is performed. The White House,  which waged a bruising battle to get the pact through Congress, warned that they would not renegotiate if turned down, and threatened not to renew existing trade preferences that expire next September. (More Costa Rica stories.)

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