Costa Rica, China sign pact for infrastructure financing

San Jose, June 4 (IANS/EFE) Chinese President Xi Jinping's visit to Costa Rica was the occasion for signing several bilateral pacts, above all for infrastructure financing and increased trade.

Xi and his Costa Rican counterpart Laura Chinchilla were witnesses to the signing of nine documents by officials and business executives.

Notable among the accords was a $397 million loan by the China Development Bank for the construction of a highway on Costa Rica's Caribbean coast.

In addition, China's Eximbank will open a $101 million line of credit for Costa Rica to convert its fleet of public transportation vehicles to more eco-friendly fuels.

As for trade, an agreement on sanitary standards was formalized allowing the Central American country to export pork, leather and wood to the Asian giant within the existing bilateral trade pact.

Xi, who met with Chinchilla for about an hour, said after the signing of the accords that this was one more step in the consolidation of relations between the two countries.

"Relations between China and Costa Rica are based on mutual respect, equality and shared benefits. Our relations can be an example of how countries of different sizes and different conditions can cooperate," he said.

On her part, Chinchilla thanked Xi in San Jose for supporting her country in such diverse fields as trade, science, education, infrastructure, security and even sports.

She noted the importance of close relations between the two nations and the great opportunities that China offers for Costa Rica's economic development, especially in the fields of agriculture and industry.

--IANS/EFE

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