Costa Rica and China sign agreement to encourage investment and commerce

September 5, 2018

Costa Rica and China signed a cooperation agreement on Monday regarding the Silk Road Economic Belt, a Beijing initiative that aims to encourage trade and investment.

The pact, launched in 2013 by the then Chinese President Xi Jinping, looks at the exchange of goods, technology, capital and personnel with more than 103 countries and organizations.

The Costa Rican Chancellor and Vice President, Epsy Campbell, highlighted that the agreement reflects the approach that the two countries have had since they established diplomatic relations in June 2007.

“Due to the complementarity between our countries, we emphasize the importance of this document in relation to financing, infrastructure and commerce,” said Campbell.

Costa Rica was the first Central American country to break ties with Taiwan and establish relations with China. Since then, Panama and El Salvador followed the same path.

The Chinese ambassador in San José, Teng Heng, said that “the signing of this memorandum is equivalent to installing a new powerful engine, with a powerful and lasting force, to the cooperation between both countries.”

According to the Costa Rican Foreign Ministry, the agreement will allow the promotion of exchanges in the construction of roads, railways, civil aviation, harbors, energy, and telecommunications, as well as expanded trade and investments.

The Costa Rican Chamber of Exporters celebrated the agreement with China, which has become a key destination for Costa Rican sales, which reached $111 million in 2017.

Facebook Comments

You may be interested

Why hello there
The Alvarado Administration
333 views
The Alvarado Administration
333 views

Why hello there

AFP - November 14, 2018

Costa Rican President Carlos Alvarado posed for a photo shoot while in France at the invitation of President Emmanuel Macron.…

Costa Rican diet: The ‘No Sugar’ challenge
Food
1134 views
Food
1134 views

Costa Rican diet: The ‘No Sugar’ challenge

María José Braddick Serrano - November 14, 2018

Due to its location, Costa Rica is a cultural and biological bridge between North and South America, which makes it…

Three Billboards Outside San José, Costa Rica: Can fish bring a country together?
Fishing
859 views
Fishing
859 views

Three Billboards Outside San José, Costa Rica: Can fish bring a country together?

Todd Staley - November 14, 2018

If you are driving from Juan Santamaría International Airport toward San José, you will pass two sets of billboards. Lettered…