On April 28th, Jorge, the General Manager of GOVOL S.A., an automobile dealer in Costa Rica, and his General Manager, Rodriguez, visited Hubei International Economic Cooperation (HIETC) for international business talks. They were warmly received by the Chairman of HIETC, Chen Tong, and the Executive General Manager, Meng Fanguang.

During the talks, the two sides had in-depth exchanges and discussions on various fields including automobile trade, technical services, and market expansion, and reached many consensuses. They also expressed their intention to cooperate on the procurement of new energy vehicles and signed a memorandum of understanding on cooperation on the spot, with a transaction amount exceeding USD 150 million under the framework of future cooperation.

Both sides stated that the signing of this cooperation agreement would be a new starting point for their friendly cooperation relationship. They hope to uphold the principle of "complementary advantages, mutual benefit and win-win cooperation, and common development," and work together to create a better development prospect.

It is reported that Costa Rica is a leader in the electric vehicle market in Latin America, and the total value of new cars imported from China, such as Great Wall, Geely, and BYD, increased by 9.77% year-on-year in 2022. BYD electric vehicles have been the best-selling brand in Costa Rica for three consecutive years from 2020 to 2022, with a market share of about 52%. This fully demonstrates the competitiveness and influence of Chinese automobile brands in the Costa Rican and Latin American markets.

This international business talk is one of the important measures for HIEC to actively respond to the national "Belt and Road" initiative, vigorously develop international markets, and serve economic and social development. It opens up new space for the promotion and development of Chinese automobile brands in the Latin American market. Next, HIEC will continue to maintain close communication and cooperation with GOVOL S.A., jointly promote the implementation of relevant projects, actively create new trade formats, and make more contributions to the economic and trade exchanges and friendly communication between China and Costa Rica.

After the meeting, both sides visited the power battery service point, parallel imported car showroom, and automobile upgrade and modification factory together and conducted on-site inspections of the ordered vehicles to be shipped in early May.

Zou Cong, the director of the Automobile Trade Department of HIETC, and related business department staff participated in the above activities