Costa Rica – United States Memorandum of Understanding on Consumer Protection
Costa Rica and the United States have entered into a Memorandum of Understanding regarding consumer protection. The Memorandum of Understanding on Mutual Assistance in Consumer Protection Matters was signed by The Federal Trade Commission on behalf of the United Staes and Costa Rica’s consumer protection authority, the Ministry of Economy, Industry, and Commerce (MEIC). The signed bilateral Memorandum of Understanding (MOU) will promote enhanced cooperation in the fight against cross-border fraud.
The Memorandum of Understanding (MOU) will facilitate greater law enforcement coordination in consumer protection matters affecting both nations. This memorandum is a “best efforts” agreement – it is not legally binding and does not alter either country’s existing consumer protection laws.
The Scope and Purpose of the Memorandum
The Memorandum of Understanding expresses the intent of the MEIC and FTC to foster a mutual exchange of experiences, information, and support to improve their respective consumer protection methods and procedures. Moreover, the MEIC and FTC envision a joint working relationship to develop initiatives that would contribute to compliance with their respective Consumer Protection Laws, and to raise consumers’ critical awareness.
The full text of the agreement is set forth below: