China-LatAm economic ties reach new starting point

CHINA -- China and Latin America are at a new starting point in economic relations following Chinese President Xi Jinping’s state visits to the region, experts have said. Xi returned to Beijing Friday after wrapping up the tour to Ecuador, Peru, Chile, and attending the 24th Asia-Pacific Economic Cooperation (APEC) Economic Leaders’ Meeting. During the week-long tour, Xi met with foreign leaders and representatives from different walks of life, and attended a string of bilateral and multilateral meetings and events. China and Latin America ties have reached a new horizon, said Chile’s former ambassador to China Fernando Reyes Matta when asked to comment on Xi’s tour. “Five or six years ago, we were merely talking about fundamental subjects like how to improve economic relations, but now we are discussing China-LatAm ties in the coming 10-15 years”, Reyes Matta said. The former ambassador called on Latin American countries to make strategic plans from the point view of a global value chain in developing ties with China.

At the APEC meeting in Lima, Peru, Xi put forward a series of key initiatives, injecting impetus to cooperation in the Asia-Pacific, as well as the development of the global economy. The Chinese president highlighted economic globalization as an irresistible trend, calling for the promotion of trade and investment, and opposition to all forms of protectionism. Xi said China should align China-LatAm relations with international and regional development, and make China-LatAm development strategies match on both sides. “China will increase sharing of governance experience and improve planning and coordination of macro policies with Latin American and Caribbean states to better synergize our development plans and strategies,” Xi said. Echoing Xi’s proposals, the Chinese government Thursday released its second policy paper on Latin America and the Caribbean, eight years after its first one in 2008.

While addressing the Peruvian Congress, Xi also set out Chinese policies on Latin America. He proposed that China, Latin America and the Caribbean seek synergy in development strategies, improve cooperation and bring benefits to their peoples. His proposal outlined the path to building a China-Latin America community of common destiny and opened up broader prospects for the development of China-Latin America ties.

(Xinhua)

President Xi Jinping and his wife Peng Liyuan are accompanied by Ecuadorian President Rafael Correa and his wife Anne Malherbe at the airport in Quito, Ecuador. (Photo: Xinhua)