I (Vicki Skinner - aka "THE Sarong Goddess") created this blog in 2007 to share DETAILED Finds•Lists•Info•Events•Experiences to help bring more EASE to people living in, visiting or thinking of moving to Costa Rica since DETAILS are NOT easy to find!
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Tuesday, June 4, 2013

Chinese President's Visit Results

Wondering what came of the president of China's visit to Costa Rica June 2-4, 2013?
(I'm STILL wondering what came of the U.S. President Obama's visit to Costa Rica.  Does anyone know??  PLEASE "Share" some links with me so I can share them here - send them to me at LivingLifeInCostaRica@gmail.com)

UPDATE:  NOW I'm hearing it was $1.5 BILLION ($900 million seems to be a line of credit towards the Oil Refinery on the Caribbean side).  This is a REALLY GOOD article:

SOURCE:  ca.finance.yahoo.com/news/china-gives-costa-rica-900m-line-credit-refinery-002655184.html
By Javier Cordoba, Associated Press | Associated Press

China gives Costa Rica $900 million dollar line of credit for refinery, agreements on energy and transport
China's President Xi Jinping, left, stands with Costa Rica's President Laura Chinchilla before giving a joint press conference at the presidential house in San Jose, Costa Rica, Monday, …more June 3, 2013. After Costa Rica, Xi has planned stops in Mexico and the United States. Trinidad, a leading supplier of natural gas, was his first stop of a four-country trip in the region. (AP Photo/Arnulfo Franco) less

SAN JOSE, Costa Rica (AP) -- China will give Costa Rica a $900 million line of credit to finance the expansion and remodeling of an oil refinery in the Central American country's Caribbean coast, the two countries announced Monday.

During an official visit by Chinese President Xi Jinping, the two countries signed nine cooperation agreements totaling $1.5 billion that will provide resources for improving Costa Rican roads and public transit fleets, purchasing solar panels and the building of a new police school.

Xi arrived Monday from Trinidad & Tobago, where he offered concessionary loans to nine Caribbean countries totaling about $3 billion. He travels Tuesday to Mexico, where he has said he plans to discuss ways to increase Mexican exports to China. Xi closes his trip with a visit to the United States later this week.

Costa Rica is the only Central American country that has diplomatic relations with China, the world's second-largest economy, and has been rewarded with projects and visits by two sitting Chinese presidents since it first recognized the Asian giant over Taiwan in 2007.

The refinery, in Puerto Limon, is small and old and refines about 18,000 barrels of imported crude a day. The remodel could boost production to 65,000 barrels a day, with the Chinese sharing in the profits. Costa Rica sought help from China in updating the facility.

But the project is under debate as Costa Rican economists and politicians question the Chinese feasibility studies, and say the money would be better spent seeking alternative forms of energy.

Rene Castro, minister of environment and energy, said that the agreement only means having a line of credit available and that Costa Rica's government still has asked state universities for analysis to determine whether the project is feasible.

The Chinese also ratified Costa Rica's sanitary protocol to allow the export of pork to China, while the largest dairy business in the country, Dos Pinos, announced new exports of fresh and flavored milk.

Costa Rican President Laura Chinchilla said her country will make the visa process more flexible to increase the number of Chinese tourists and business vistors.

Foreign Minister Enrique Castillo said Costa Rica will speed up the process for Chinese who already have visas from other countries, such as the U.S. and European Union, and will add people in the Beijing and Shanghai consulates to process paperwork quicker.

China has more than 100 million tourists traveling worldwide, Castillo said, noting that if Costa Rica could get 500,000 of them, it would boost tourism visits by 25 percent. Currently Chinese tourism to Costa Rica is very small because of visa problems.

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