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China, Costa Rica to begin free trade talks in Jan. 2009 |
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15:59, November 19, 2008 |
China and Costa Rica will launch the first round of talks on a free trade protocol in January 2009 to deepen the bilateral economic and trade relations which are flouring fast since the two countries established diplomatic relationship in June, 2007.
Chinese Minister of Commerce Chen Deming and Costa Rican Foreign Trade Minster Marco Vinicio Ruiz singed a memorandum of understanding on the inauguration of the negotiation in San Jose, the capital of Costa Rica on Nov. 17. Chinese President Hu Jintao and Costa Rican President Oscar Arias Sanchez witnessed the signing ceremony.
The joint research on the feasibility of a Sino-Costa Rican free trade shows that the two countries are economically complementary to each other and have great potential in mutual trade and investment.
China is Costa Rica's second largest trading partner in the world while Costa Rica is China's second largest trading partner in central America. According to the statistics on the Chinese side, the bilateral trade reached 2.87 billion USD in 2007, of which China imported 2.3 billion USD from and exported 570 million USD to Costa Rica, up by 32 percent and 39 percent respectively.
By People's Daily Online
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