More

    China Plans Free Trade Zone in Puntarenas

    Must Read

    “Tinamastes Fair”: Natural Color, Production and Consumption of Organic Food

    The global health crisis of COVID-19 has not been limiting for Ticos to continue to have a variety of...

    Sunlight as a Source of Vitamin for Our Body

    The key to this trip is that without that first process of transformation by exposure to UV light it would not be possible to achieve this result

    The Costa Rica Space Agency: A small step to the first world

    In my blog this week Andrea Jimenez discusses why the creation of the Costa Rica Space Agency is so important for the country’s economic development.
    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

    “Tinamastes Fair”: Natural Color, Production and Consumption of Organic Food

    The global health crisis of COVID-19 has not been limiting for Ticos to continue to have a variety of...
    - Advertisement -

    More Articles Like This

    - Advertisement -
    Language »
    Be Part of the Community!
    Stay Up To Date And Connected

    and engage with likeminded folks on Costa Rica

     

    12 Years Changing The Way You Look At News!

    TCRN 12 years