Latin Amer­ica pol­icy points to ‘shared future’

China Daily (USA) - - FRONT PAGE - By MO JINGXI in Bei­jing mo­jingxi@chi­nadaily.com.cn

As Pres­i­dent Xi Jin­ping wrapped up his Latin Amer­i­can tour, China re­leased its sec­ond pol­icy pa­per on Latin Amer­ica and the Caribbean on Thurs­day, pro­vid­ing guid­ance for new ideas, pro­pos­als and ini­tia­tives in pol­icy.

The doc­u­ment, based on ex­pe­ri­ence from past co­op­er­a­tion, fo­cuses on solv­ing prob­lems and ob­sta­cles in cur­rent re­la­tion­ships and in­di­cates the di­rec­tion for future de­vel­op­ment, ex­perts said.

Re­leased at a sen­si­tive time when world pol­i­tics and the global econ­omy are un­der­go­ing pro­found changes, it shows China’s prom­ise to de­velop re­la­tions with Latin Amer­i­can and Caribbean coun­tries, they added.

The four-part doc­u­ment de­fines the cur­rent re­la­tion­ship be­tween China and Latin Amer­ica and the Caribbean, out­lines prin­ci­ples for co­op­er­a­tion and pro­poses de­vel­op­ment goals in eight ar­eas in­clud­ing pol­i­tics, trade and the econ­omy, peo­ple-to-peo­ple ex­changes and tri­lat­eral co­op­er­a­tion.

To fa­cil­i­tate trade and in­vest­ment, the pa­per says, “China wishes to sign more agree­ments on in­vest­ment pro­tec­tion, avoid­ance of dou­ble tax­a­tion and tax eva­sion with Latin Amer­i­can and Caribbean coun­tries, to cre­ate a fa­vor­able en­vi­ron­ment and con­di­tions for in­vest­ment co­op­er­a­tion be­tween en­ter­prises of both sides.”

In terms of trade and the econ­omy, it spec­i­fies how to boost co­op­er­a­tion in in­dus­trial in­vest­ment and ca­pac­ity co­op­er­a­tion, en­ergy and re­sources, in­fra­struc­ture and man­u­fac­tur­ing.

“We aim to bring the com­pre­hen­sive and co­op­er­a­tive part­ner­ship to a new height by bring­ing the two sides into a com­mu­nity of a shared future in which all coun­tries join hands in de­vel­op­ment,” the pa­per says.

China and Latin Amer­i­can and Caribbean coun­tries are highly com­ple­men­tary in trade and economics, as Chi­nese en­ter­prises speed up their “go­ing global” strat­egy and Latin Amer­ica seeks to trans­form the struc­ture of its economic de­vel­op­ment, ex­perts said.

Latin Amer­ica has be­come an im­por­tant over­seas des­ti­na­tion for Chi­nese en­ter­prises, with cu­mu­la­tive in­vest­ment reach­ing $126.3 bil­lion by last year.

“This doc­u­ment has clear tar­gets and dis­tinct char­ac­ter­is­tics for Latin Amer­i­can and Caribbean coun­tries. It ... will open a new era for future re­la­tion­ships,” said Yue Yunxia, a re­searcher in Latin Amer­i­can economics at the Chi­nese Academy of So­cial Sciences.

We aim to bring the com­pre­hen­sive and co­op­er­a­tive part­ner­ship to a new height.” China’s sec­ond pol­icy pa­per on Latin Amer­ica and the Caribbean

The pol­icy pa­per men­tions co­op­er­a­tion in­volv­ing third­par­ties, which is very im­por­tant, Yue said, “be­cause it shows China’s open at­ti­tude to­ward its co­op­er­a­tion with Latin Amer­i­can and Caribbean coun­tries, which is a ma­jor change and break­through”.

He Shuan­grong, an ex­pert of Latin Amer­i­can stud­ies at the Chi­nese Academy of So­cial Sciences, said the doc­u­ment is “sig­nif­i­cant in sta­bi­liz­ing the ex­pec­ta­tions of Latin Amer­i­can and Caribbean coun­tries for de­vel­op­ing re­la­tions with China and boost­ing their con­fi­dence”.

Mean­while, Xi met with Span­ish Deputy Prime Min­is­ter So­raya Saenz de San­ta­maria on the Span­ish is­land of Gran Ca­naria on Thurs­day, where he made a stopover on his way back to Bei­jing af­ter fin­ish­ing the Latin Amer­i­can tour.

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