Advertising

The Seattle Times Company

NWjobs | NWautos | NWhomes | NWsource | Free Classifieds | seattletimes.com

The Seattle Times

Business / Technology


Our network sites seattletimes.com | Advanced

Originally published Monday, November 17, 2008 at 6:55 PM

E-mail article     Print view

China, Costa Rica to launch trade talks

China and Costa Rica will launch free trade talks in January and hope to seal a deal by 2010, Chinese President Hu Jintao said Monday during his first visit to a Central American country.

Associated Press Writer

SAN JOSE, Costa Rica —

China and Costa Rica will launch free trade talks in January and hope to seal a deal by 2010, Chinese President Hu Jintao said Monday during his first visit to a Central American country.

Hu spent most of the day in Costa Rica with a delegation of 100 businessmen as part of China's investment march into resource-rich Latin America, before heading to Cuba for a two-day visit aimed at strengthening ties with Havana.

China's trade with Latin America has jumped from $10 billion in 2000 to $102.6 billion last year and it is now Costa Rica's second most important trade partner.

Hu said Monday during a joint news conference with Costa Rican President Oscar Arias that free trade talks will start Jan. 19 and the countries hope to have an agreement before Arias leaves office in May 2010.

The two leaders said their nations also signed 11 cooperation agreements, including a joint venture for China's National Petroleum Corporation to help modernize Costa Rica's state-owned oil refinery. China also agreed to help Costa Rica build a national sports stadium.

"We would like to see an increase in Costa Rican imports and we invite Costa Rican companies to explore the Chinese market," Hu said.

While the rest of Central America still grants diplomatic recognition to Taiwan, Costa Rica switched to recognizing China in June 2007. China says Taiwan is part of its territory.

Costa Rica's Foreign Trade Minister Marco Vinicio Ruiz said a free trade accord with China means "there will be many sectors that benefit, especially those tied to agricultural and meat products."

Costa Rica last year exported $848 million in goods to China.

The Chinese president then flew to Cuba late Monday and was met at the airport by Vice President Jose Ramon Machado Ventura and a throng of chanting Chinese citizens who clutched tiny Cuban and Chinese flags.

Cuba and China were expected to sign a serious of trade agreements during a visit "aimed at increasing friendship and cooperation between our two nations," Hu said in a statement.

China is Cuba's second-largest trading partner behind Venezuela.

Copyright © 2008 The Seattle Times Company

More Business & Technology headlines...

E-mail article Print view      Share:    Digg     Newsvine

advertising

NEW - 07:50 AM
Alder gets $85M advance in big Bristol-Myers deal

Bill Clinton meets with Senate Dems on health care

UPDATE - 07:40 AM
Housing plan reaches 1 in 5 borrowers

Credit-card holders to pay the price for banks' struggles

Kraft's offer for sweets giant Cadbury turns bitter after rejection

Advertising

Video

Ken Auletta talks about "Googled"
Ken Auletta talks about Google with Brier Dudley at the Seattle Central Library.

Medal of Honor
Pelosi answers questions at Swedish Medical Center
Pelosi speaks at Swedish Medical Center
"Pistol" Pete Ryan
Mourners gather at KeyArena for slain officer's memorial
Procession for slain SPD officer
Election Night: Approve R-71
Election Night: Reject R-71
Election Night: Joe Mallahan

Follow seattletimes.com on Twitter

Get the top stories on-the-go by following seattletimes.com on Twitter. We'll tweet the news and information you need around the clock and keep you up-to-date no matter where you are. Go to www.twitter.com/seattletimes to sign up now.

Marketplace

nwautos

2009's most fuel-efficient sedansnew
Choosing a new sedan? Weigh the impact of your choice on your wallet and on the planet.
Post a comment

Open Houses

Find this weekend's open house listings.
Or search by location:

 
Most read
Most commented
Most e-mailed
 
 
Advertising