Costa Rica, China Begin
Talks On Free Trade
A Chinese business
delegation is in Costa
Rica to explore the
possibilities of a
bilateral free trade.
The two sides held their
first meeting Wednesday.
The foreign trade
ministry in a statement
Wednesday said the
Chinese delegates would
hold a series of meeting
with their counterparts
till Friday.
The feasibility study
for a bilateral free
trade agreement would
take at least six
months, it said.
The technical group will
exchange preliminary
information and
determine the possible
contents of the study. A
work plan will be
prepared.
The meeting comes after
the Costa Rican
President Oscar Arias
and Foreign Trade
Minister Marco Vinicio
Ruiz invited China for
talks during their trip
to that country last
October.
Ruiz said the meeting
would give an
opportunity to explore
the benefits of a
bilateral free trade
agreement.
China is Costa Rica's
second largest trade
partner after US.
Costa Rica has exported
us$1.3 billion worth of
goods, mainly
microprocessors, to
China between January
and November 2007.
Officials said a major
challenge now is to
diversify Costa Rica's
exports to China.
Earlier in October,
Arias said his
government's decision to
sever ties with Taiwan
was based on a realistic
appraisal of Costa
Rica's economic
interests with Beijing.
'China has trade
agreements with the
north and south of the
American continent. A
very stable Costa Rica
that now has a free
trade pact with the US
can establish private,
mixed or state-owned
companies and gain
tariff-free access to
the US market.
'The China should
consider investing in
Costa Rica as a stepping
stone to the US market,
since we can offer
security and stability.
I hope the bilateral
trade increases,' Arias
said during his visit to
China.
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