More

    China Plans Free Trade Zone in Puntarenas

    Must Read

    Stronger measures will be taken against contempt of social quarantine standards

    Public Security Minister Michael Soto said that they are already coordinating with...

    Bureaucratic Red Tape Seriously Delays Major Public Works in Costa Rica

    The Minister of Public Works and Transport (MOPT), Rodolfo Méndez, has made serious observations to the mechanism that is used in expropriating land for infrastructure works

    More Than 139,000 Citizens Are Still Waiting to Receive the “Bono Proteger”

    To date 139,100 Costa Ricans have been waiting for the “Bono Proteger”...
    TCRN STAFFhttps://www.TheCostaRicaNews.com
    Creating a Conscious alternative news network that we feel the world needs. Pura Vida!

    A free trade zone may come to Puntarenas by the year 2020, depending on the results of a fact-finding mission scheduled for next month.

    The Chinese-led project anticipates the construction of an active economic zone, including a large business complex.  The timing of the visit coincides with President Solis’ push for the purchase of bonds by the Chinese government.

    Previously the Development Bank of China indicated that Puntarenas is an ideal location because of its proximity to Caldera Port.

    President Solis indicated that he hopes that Puntarenas may become a “logistic corridor,” on the basis that it would generate a significant amount of employment for the country.

    With this free trade zone project, Costa Rica would become the first country where China undertakes such an endeavor outside of its own national territory. Along with Puntarenas, Limón and Guanacaste are also being considered as possible locations for this particular project.

    With Costa Rica’s ideal geographic location, it is highly favorable as a duty-free zone. Part of the free trade agreement, or Tratado de Libre Comercio (TLC) in Spanish, with China of 2011 included plans for this type of activity.

    Before any agreement on the zone can be reached, it must be approved by Costa Rica’s Legislative Assembly.

    Costa Rica is China’s second largest trading partner in Central America. China is the second largest trading partner of Costa Rica, after the U.S. In recent years, bilateral trade between the two countries has grown rapidly.

    Brief Historical Timeline of China – Costa Rican Relations

    • June 2007 — China and Costa Rica established diplomatic relations
    • November 2008 — Chinese President Hu Jintao visited Costa Rica and announced with Costa Rican President Oscar Arias the launch of China-Costa Rica free trade negotiations.
    • 2010 — The first draft of the free trade agreement was created.
    • October 2011 — the Free Trade Agreement was accepted by both countries.
    - Advertisement -
    - Advertisement -

    Latest News

    Stronger measures will be taken against contempt of social quarantine standards

    Public Security Minister Michael Soto said that they are already coordinating with...

    Bureaucratic Red Tape Seriously Delays Major Public Works in Costa Rica

    The Minister of Public Works and Transport (MOPT), Rodolfo Méndez, has made serious observations to the mechanism that is used in expropriating land for infrastructure works

    More Than 139,000 Citizens Are Still Waiting to Receive the “Bono Proteger”

    To date 139,100 Costa Ricans have been waiting for the “Bono Proteger” for three months (from April),...

    Costa Rican Singer Jenny Castillo Died

    Jenny Castillo, who was well known in the music world in the 80s and 90s, died this...

    Precise Date of School Re-opening in Costa Rica has not yet Been Decided

    The Ministry of Public Education (MEP) remains on the lookout, and with it thousands and thousands of...
    - Advertisement -

    More Articles Like This

    - Advertisement -
    Language »