14.06.11 09:58 Age: 14 yrs

Costa Rica approves Free Trade Agreement with China

On May 31st 2011, the Congress of Costa Rica approved the Free Trade Agreement between Costa Rica and the People's Republic of China (PRC). As the legal counsel to the Costa Rica Embassy in China, Lehman, Lee & Xu is very happy that the two countries have reached the Agreement.

 

The PRC is Costa Rica's second largest commercial partner. With this agreement, Costa Rica intends to allocate over 100 different kinds of products that will enter the Chinese market without any tariff burdens. Also, the Free Trade Agreement seeks to attract Chinese investors that might benefit from Costa Rica's highly qualified labor force, strategic location, and network of Free Trade Agreements and Bilateral Investment Treaties to develop and strengthen China's relationships and business opportunities in the region.

 

China launched free trade talks in earnest with Costa Rica in 2007, after Costa Rica was the first nation in Central America to establish diplomatic relations with the Asian giant.