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Weekly Report - 05 May 2016 (WR-16-17)

COSTA RICA: Cooperation with China back in the spotlight

Costa Rica’s cooperation with China is making the headlines. Weeks after the 57-member unicameral legislature approved a deal to promote and protect investment with China – in the pipeline since the two countries inked a free trade agreement (FTA) in 2011 – the state-run oil company, Refinadora Costarricense de Petróleo (Recope), announced it was abandoning the project to upgrade its refinery at the Caribbean port of Moín, a project it had been working on with China National Petroleum Corporation (CNPC). Costa Rica’s biggest infrastructure project, the initiative was a symbol of bilateral cooperation when first announced in 2007 (the year Costa Rica established diplomatic ties with mainland China – the only Central American country to have made the switch from Taiwan).

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