Alexander Mora, the Foreign Trade Minister of Costa Rica, stated that the upcoming China International Import Exposition is of vital importance to Sino-Costa Rican trade development. This exposition will help encourage a swift growth of Costa Rican exports to China.
China is the second-largest trading partner of Costa Rica. The two countries have signed free trade agreements and agreed to promote and protect investments. The overall value of Sino-Costa Rican trade reached 2.29 billion USD in 2017, which was an increase of 4.3% in comparison with the previous year. Mora stated that the free trade agreement is of great importance to Costa Rica.
Mora further stated that China has strict procedures and regulations for products that enter the Chinese market. Costa Rica currently has quarantine and inspection agreements for 11 kinds of products. This helps Costa Rican products enter the Chinese market more smoothly.
China and Costa Rica established diplomatic relations in 2007. This year in September, China and Costa Rica signed a memorandum regarding the "One Belt, One Road" initiative. This made Costa Rica the 9th country in Latin America and the Caribbean region to sign such an agreement with China.
Source: Xinhua News Network