Revival of Chinese Economic Zone Project in Costa Rica
The agreement between both nations to develop a Special Economic Zone will be completed in less than a year.
Friday, September 13, 2013
The project which the two countries plan to implement in the Central American nation will materialize in less than a year, benefiting sectors such as high-tech and manufacturing.
This was stated by the Costa Rican Minister of Foreign Trade, Anabel Gonzalez, who is on a visit to the Asian nation to promote FDI in Costa Rica, to boost tourism and find new avenues of cooperation with China, a country which according to Gonzalez , has trade reaching $6.2 billion.
"We have been working for a long time with the China Development Bank on a feasibility study, in order to find out what kind of industries might be involved, the factors, legal frameworks ... We received the bank several times in Costa Rica and have held meetings here," she said.
"It is a very detailed project and so we are taking the time to establish the conditions to ensure its success," said the minister, adding that a delegation of geologists will soon be visiting Costa Rica to discuss possible locations of a Special Economic Zone (EEZ).
That country has shown interest in establishing an EEZ in order to demonstrate "a new type of Chinese investment that can provide their companies access to the markets in the continent of America," said the official.
The Solis administration has signed a memorandum of understanding with the Chinese government to begin studying the feasibility of setting up a special economic zone in Costa Rica for enterprises from China.
As part of the agreement signed between the two governments, feasibility studies will be started along with defining where the zone will be sited.
Costa Rica will host the sixth China - Latin America and the Caribbean (LAC) Business Summit, to be held in October 2013.
The summit organized by the China Council for the Promotion of International Trade (CCPIT) and the Interamerican Development Bank (IDB) seeks to strengthen trade relations between the two regions.
Representatives of the China Federation of Cooperatives are visiting Costa Rica in order to explore and promote opportunities for trade and investment between both countries.
From a press release from the Ministry of Foreign Trade in Costa Rica:
San Jose, May 10, 2012. Representatives of the Chinese Federation of Cooperatives, which unites more than 4,000 instances from various sectors, is visiting Costa Rica in order to explore and promote opportunities for trade and investment between both countries and promote joint projects in areas related to economic development . The Chinese delegation is headed by the Vice President of the organization, Yu Peishun.
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