Costa Rica is a Central American democratic republic, bordered by Nicaragua to the north and Panama to the south-southeast. Independence from Spain was proclaimed in 1821 and Costa Rica became a sovereign nation after a brief seventeen-year period forming part of the Federation of Central American States.

Historically, Costa Rica has enjoyed the distinction of being a peaceful republic with no army and a highly stable political regime. Such characteristics, together with its natural beauty, abundant wildlife and its population’s high degree of education, have turned the country into an attractive target for foreign investment.

The economy is mainly driven by ecological tourism, service outsourcing, as well as medical equipment exports. Agriculture is still an important activity, mainly driven by banana, pineapple and coffee exports.

The country has recently been invited to join OECD, after implementing numerous structural and legal reforms. Outlook for key economic indicators is stable partly due to strong institutions and the government's focus on the adoption of liberal market policies and attraction of foreign investment, although public debt and fiscal deficit are rising concerns. The country has adopted an intense regional and cross-regional free trade agenda, which has concluded in a broad coverage of agreements.