MercoPress. South Atlantic News Agency

Beijing wants closer political and trade links with Latam

Chinese Vice-president Xi Jinping currently in Venezuela, the fourth leg of a regional tour hailed the vigorous growth in relations between China and Latin America in recent years and described the pace of cooperation as “unprecedented”, according to reports from Beijing news agencies.

In a speech at the opening of a seminar for Chinese and Venezuelan businesspersons in Caracas, Vice-president Xi revealed that bilateral trade last year reached 143.4 billion US dollars, up 39.7% from 2007 and ten times that of 2000 when China begun showing interest in the region. China the largest developing country in the world is ready "to join hands with Latin America", one of the world's major developing regions and continue advancing along the path of cooperation and reciprocal investments. Xi said China and Latinamerican nations -- whose combined population makes up a fourth of the world's total -- are all at a crucial stage of socio-economic development. "Under the current circumstances, while standing up to the serious challenges brought about by the global financial crisis, one should not lose sight of the new emerging opportunities for all-around cooperation between the two sides", he underlined. The Chinese vice-president then advanced a four-point proposal for strengthening all-around cooperation for joint development. First, efforts should be made to promote mutual political trust, bearing in mind the importance of long-term development of friendly cooperation. "China is ready to maintain high-level visits and contacts with Latin American nations and favours increased mutual understanding and support on issues of mutual concern", he said adding that both sides should strive to improve the existing bilateral and multilateral mechanisms of political consultations and dialogue and coordinate cooperation in various fields from a strategic height and long-term perspective. In face of the global financial crisis, China is ready to work with Latin American nations to strengthen coordination and boost confidence so as to contribute to the stable growth of the global economy, Xi said. Second, Xi proposed that mutual cooperation should be deepened. "China is ready to continue to expand trade and mutual investment with Latinamerican nations, push forward pragmatic cooperation in such key areas as energy, finance, agriculture, manufacturing, infrastructure and the high-tech industry". The Chinese government, he said is ready to join hands with Latin American governments to further promote strategic cooperation between companies from both sides and make continued efforts to ensure more success in hosting the China-Latin America Business Summit and the China-Caribbean Economic and Trade Cooperation Forum. Third, efforts should be made to boost human and cultural exchanges, with a view to cementing the foundation of the China-Latin American friendship. "China is ready to enhance exchanges with Latinamerican nations in the fields of culture, education, health, sports and tourism, and carry out practical cooperation in poverty alleviation, social security, environmental protection and disaster relief". Both sides should also expand exchanges between youth and women organizations as well as media organizations and academic institutions in efforts to promote understanding and friendship between the Chinese and Latin American peoples, pointed out Xi. Fourth, both sides should strengthen consultation and cooperation in international affairs. China is ready to strengthen coordination with Latin American nations, through participating in regional and international organizations or other multilateral mechanisms, in jointly safeguarding the legitimate rights and interests of the developing nations. Both sides should work together to push for the establishment of a global economic system for sustainable development, an inclusive international financial system, a fair and equitable international trading system and a fair and efficient global development system. Both sides should urge the developed countries to fulfil their commitments in terms of increasing investments and aid, reducing trade barriers, speeding up technology transfer and reducing and writing off debts, he said. China is a staunch force in support of world peace and the Chinese people are trustworthy friends of the Latinamerican people, indicated vice-president Xi. China and Latin America enjoy a profound traditional friendship and share broad common interests. China is ready to work with Latin American nations to write a new chapter in the efforts to establish partnership for all-around cooperation between China and Latin America, said the vice president. The top Chinese official arrived in Caracas on Tuesday for an official visit to Venezuela, the fourth leg of his six-nation tour, which will also take him to Brazil and Malta. Earlier, he had visited Mexico, Jamaica and Colombia.