Chinese President Hu Jintao is set to visit Costa Rica beginning Sunday, in the first visit by a Chinese leader travels to Central America.
"It will be a historic visit," a Costa Rican Foreign Ministry official told Deutsche Presse-Agentur dpa.
Central America has traditionally favoured Taiwan, but Costa Rica switched recognition to China in June 2007, after 63 years of ties with Taipei. Only 23 countries recognize Taiwan, and half of them are in Latin America and the Caribbean.
The bilateral agenda between China and Costa Rica includes talks towards a free-trade agreement.
China has granted Costa Rica millions of dollars in financial cooperation, buying bonds from the Central American country and promising to build a modern football stadium in San Jose.
Taiwan has said that it accepts its allies recognizing China if they also maintain diplomatic ties with Taipei. But China, which sees Taiwan as its breakaway province, insists that foreign countries must first cut ties with Taiwan before they can open diplomatic relations with Beijing.
Shares fell 2.1 per cent Friday on the Seoul stock exchange on general recession fears. South Korea's won dropped against the dollar.
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Amelie Mauresmo fell victim to a leg injury after less than half an hour on court Friday to hand over a 4-0 victory which put French compatriot Marion Bartoli into the final of the Brisbane International.
Mumbai-based movie Slumdog Millionaire won five prizes Thursday night at the Critics Choice Awards, cementing its position as a surprise favourite just as the Oscar season moves into high gear.
After the Taipei Zoo received two giant pandas from China, another Taiwan zoo said Friday it is seeking to receive a pair of pandas from China.