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Shotgunner51
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They export crude oil, I can understand, but fish meal and banana too?
Chinese should support their economy, let's sign some FTA, currency swap and BIT, buy more from Ecuador, buy more Latin America.
艹艹艹
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http://www.globaltimes.cn/content/1019651.shtml
China, Chile lift ties to comprehensive strategic partnership
Source:Xinhua Published: 2016/11/23 8:07:34
China and Chile agreed on Tuesday to lift bilateral ties to a comprehensive strategic partnership as Chinese President Xi Jinping paid his first state visit to the Latin American country.
In his talks with Chilean President Michelle Bachelet, Xi compared China and Chile to true friends who could touch each other's heart from the other end of the world, and commended Chile for taking the lead amongst Latin American countries in developing ties with China.
Chile was the first country to establish diplomatic ties with China in South America, as well as the first Latin American country to sign a bilateral accord with China on the latter's accession to the World Trade Organization, and to recognize China's status as a market economy.
It was also the first Latin American country that signed a free trade agreement (FTA) with China.
Two-way trade amounted to 31.8 billion US dollars last year, nearly five times as much as in 2005 when the FTA was signed.
China's first RMB clearing bank in Latin America was opened in Chile in June this year, setting up a platform to upgrade financial cooperation between China, Chile and the rest of Latin America.
Citing a high level of mutual political trust between the two countries, their mutually beneficial and win-win economies, and increasingly closer multilateral cooperation, the Chinese president said China-Chile ties have entered a new era of maturity and stability.
He said both countries are in a key phase of development, and are dedicated to seeking further development through deepening reforms.
From this new starting point of bilateral ties, Xi said, they should actively strive forward to ensure that China-Chile relations could continue to spearhead China's ties with Latin American countries.
China is willing to work with Chile to improve the top-level design for bilateral ties, improve their FTA, broaden investment cooperation, strengthen sci-tech and innovation cooperation, lay a solid foundation of public support, and lift their strategic coordination, he said, adding that the Chinese side supports its enterprises in seeking a spot in Chile's infrastructure and clean energy industries.
He also noted that tourism cooperation between China and Chile is conducive to people-to-people and cultural exchanges between the two countries, and urged the two sides to enhance communication and coordination within multilateral institutions.
For her part, Bachelet welcomed Xi's visit to Chile, saying the country will further cement friendly ties with China, and expand political dialogues as well as trade and economic links.
Chile, she said, is willing to take the elevation of bilateral ties as an opportunity to deepen cooperation with China in various areas, while breaking new grounds for cooperation.
An upgrade of the FTA between Chile and China will give trade and economic cooperation between the two countries a strong boost, she said, adding that Chile welcomes Chinese enterprises to increase their investment in the Latin American country.
The Chilean president stated that her country is willing to join the China-initiated Asian Infrastructure Investment Bank as soon as possible, and to conduct closer coordination and cooperation with China on international affairs
China, Chile lift ties to comprehensive strategic partnership
Source:Xinhua Published: 2016/11/23 8:07:34
China and Chile agreed on Tuesday to lift bilateral ties to a comprehensive strategic partnership as Chinese President Xi Jinping paid his first state visit to the Latin American country.
In his talks with Chilean President Michelle Bachelet, Xi compared China and Chile to true friends who could touch each other's heart from the other end of the world, and commended Chile for taking the lead amongst Latin American countries in developing ties with China.
Chile was the first country to establish diplomatic ties with China in South America, as well as the first Latin American country to sign a bilateral accord with China on the latter's accession to the World Trade Organization, and to recognize China's status as a market economy.
It was also the first Latin American country that signed a free trade agreement (FTA) with China.
Two-way trade amounted to 31.8 billion US dollars last year, nearly five times as much as in 2005 when the FTA was signed.
China's first RMB clearing bank in Latin America was opened in Chile in June this year, setting up a platform to upgrade financial cooperation between China, Chile and the rest of Latin America.
Citing a high level of mutual political trust between the two countries, their mutually beneficial and win-win economies, and increasingly closer multilateral cooperation, the Chinese president said China-Chile ties have entered a new era of maturity and stability.
He said both countries are in a key phase of development, and are dedicated to seeking further development through deepening reforms.
From this new starting point of bilateral ties, Xi said, they should actively strive forward to ensure that China-Chile relations could continue to spearhead China's ties with Latin American countries.
China is willing to work with Chile to improve the top-level design for bilateral ties, improve their FTA, broaden investment cooperation, strengthen sci-tech and innovation cooperation, lay a solid foundation of public support, and lift their strategic coordination, he said, adding that the Chinese side supports its enterprises in seeking a spot in Chile's infrastructure and clean energy industries.
He also noted that tourism cooperation between China and Chile is conducive to people-to-people and cultural exchanges between the two countries, and urged the two sides to enhance communication and coordination within multilateral institutions.
For her part, Bachelet welcomed Xi's visit to Chile, saying the country will further cement friendly ties with China, and expand political dialogues as well as trade and economic links.
Chile, she said, is willing to take the elevation of bilateral ties as an opportunity to deepen cooperation with China in various areas, while breaking new grounds for cooperation.
An upgrade of the FTA between Chile and China will give trade and economic cooperation between the two countries a strong boost, she said, adding that Chile welcomes Chinese enterprises to increase their investment in the Latin American country.
The Chilean president stated that her country is willing to join the China-initiated Asian Infrastructure Investment Bank as soon as possible, and to conduct closer coordination and cooperation with China on international affairs
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Shotgunner51
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08:51 24.11.2016 (updated 08:57 24.11.2016)
China plans to boost its political, economic, development, military and anti-terrorism cooperation ties with the Latin American and Caribbean region, the Chinese government said in a policy paper released Thursday. The document, published by the Xinhua news agency, said China will carry out military exchanges and set up defense officials' meetings with various countries from the region, as well as conduct professional exchanges related to security.
"China will… deepen professional exchanges in such fields as military training, personnel training and UN peacekeeping, expand pragmatic cooperation in humanitarian relief, counter-terrorism and other non-traditional security fields, and enhance cooperation in military trade and military technology," China's policy paper on Latin America and the Caribbean reads.
The course for strengthening cooperation included holding discussions on boosting inter-regional trade and the formation of a Pacific free trade area, as well as boosting financial cooperation, loans, joint raw material exploration efforts and technical and engineering work related to infrastructural and manufacturing projects.
Economic cooperation covered by the paper also covers agriculture, science and technology, space and energy. A number of measures aims on boosting cooperation to tackle climate change and environmental concerns, improve disaster management, reduce poverty and encourage social development, as well as promote cultural exchanges, tourism and non-governmental exchanges were also outlined. The Chinese government launched its first policy paper on Latin America and the Caribbean region in 2008 with the aim of developing a broad strategic approach to cooperation.
Read more: https://sputniknews.com/world/201611241047778554-china-latin-america-cooperation/
Shotgunner51
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Mexico is naturally part of "Pivot to Latin America" initiative, the new 4G LTE network is a good example.
https://defence.pk/threads/china-backed-bid-wins-mexico-tender-for-major-telco-network.462783/
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TaiShang
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Chinese companies interested in using Panama as LatAm entry point
(Xinhua) 16:31, December 02, 2016
PANAMA CITY, Dec. 1 (Xinhua) -- Panama's positioning itself as a platform to distribute Chinese goods to Latin America offers a lot of potential, said Wang Weihua, permanent representative of China's Office of Commercial Development in Panama.
"Panama is already acting as a bridge, a window to transit Chinese merchandise to Latin America. I think that, given Panama's logistical development, this role will increase and will be enjoyed by more Chinese companies," he said in an interview with Xinhua on Thursday.
Wang added that Panama is a potential base for manufacturing plants, which is helped by the country's reputation as a logistical center.
According to Wang, the fact that a ship belonging to China's Cosco Shipping was the first to pass through the newly expanded Panama Canal on June 26 attracted a lot of attention to the country.
Wang said that a big Chinese business delegation arrived in Panama this week and visited the Panama Chamber of Commerce, Industries and Agriculture (CCIAP).
During a meeting with the Chinese business delegation, Nestor Gonzales, Panama's vice minister of foreign trade, said that his government is seeking to get closer to China.
Wang said the Chinese delegation was made up of around 35 Chinese entrepreneurs, led by Zhang Wei, vice president of the China Council for the Promotion of International Trade (CCPIT). The delegates mainly come from the telecommunications, banking and construction sectors and expressed a particular interest in investing in the energy and port sectors.
The Colon Free Trade Zone is a large Panamian free port located near the Atlantic entrance to the Panama Canal, dedicated to re-exporting a wide variety of merchandise to Latin America and the Caribbean.
An agreement was also signed between the CCIAP and the CCPIT to jointly develop business and to seek opportunities to expand Panamanian exports to the Chinese market.
"Business between the Americas and China will continue to grow, representing a big opportunity for SMEs (small and medium enterprises)," Jorge Garcia, president of the CCIAP, told the Chinese delegation during the meeting.
(Xinhua) 16:31, December 02, 2016
PANAMA CITY, Dec. 1 (Xinhua) -- Panama's positioning itself as a platform to distribute Chinese goods to Latin America offers a lot of potential, said Wang Weihua, permanent representative of China's Office of Commercial Development in Panama.
"Panama is already acting as a bridge, a window to transit Chinese merchandise to Latin America. I think that, given Panama's logistical development, this role will increase and will be enjoyed by more Chinese companies," he said in an interview with Xinhua on Thursday.
Wang added that Panama is a potential base for manufacturing plants, which is helped by the country's reputation as a logistical center.
According to Wang, the fact that a ship belonging to China's Cosco Shipping was the first to pass through the newly expanded Panama Canal on June 26 attracted a lot of attention to the country.
Wang said that a big Chinese business delegation arrived in Panama this week and visited the Panama Chamber of Commerce, Industries and Agriculture (CCIAP).
During a meeting with the Chinese business delegation, Nestor Gonzales, Panama's vice minister of foreign trade, said that his government is seeking to get closer to China.
Wang said the Chinese delegation was made up of around 35 Chinese entrepreneurs, led by Zhang Wei, vice president of the China Council for the Promotion of International Trade (CCPIT). The delegates mainly come from the telecommunications, banking and construction sectors and expressed a particular interest in investing in the energy and port sectors.
The Colon Free Trade Zone is a large Panamian free port located near the Atlantic entrance to the Panama Canal, dedicated to re-exporting a wide variety of merchandise to Latin America and the Caribbean.
An agreement was also signed between the CCIAP and the CCPIT to jointly develop business and to seek opportunities to expand Panamanian exports to the Chinese market.
"Business between the Americas and China will continue to grow, representing a big opportunity for SMEs (small and medium enterprises)," Jorge Garcia, president of the CCIAP, told the Chinese delegation during the meeting.
Shotgunner51
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Yes Panama is one pivot in China's LatAm portfolio, the Canal is of paramount importance
With an agreement with the Panamanian government, Hong Kong-based Hutchison Whampoa Ltd. has long-term 25-year exclusive leases on the ports at each end of the Canal. They are run by the Panama Ports Co., a Hutchison Whampoa subsidiary.
Some interesting read:
http://www.centerforsecuritypolicy.org/2008/08/15/chinas-panamanian-canal-2/
http://transmissionsmedia.com/is-china-in-control-of-the-panama-canal/
http://www.reuters.com/article/panama-ports-idUSL2N0S601220141011
http://www.eagleforum.org/psr/1999/nov99/psrnov99.html
TaiShang
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China-LA relations are being increasingly institutionalized. Especially the China-CELAC forum is important, in this respect, because the forum is established as an anti-thesis to the Washington consensus.
***
Main Mechanisms of CELAC-China Forum
Ministerial Meeting
Meeting of National Coordinators
Dialogue of Foreign Ministers of China and the "Quartet" of CELAC
DG Level Negotiation of China-CELAC Forum
Subforums in Specific Fields
As we can see, the interaction is multilayered and multileveled, involving Track I, Track II and Track III levels with layers such as economics, politics, and socio-culture.
***
Main Mechanisms of CELAC-China Forum
Ministerial Meeting
Meeting of National Coordinators
Dialogue of Foreign Ministers of China and the "Quartet" of CELAC
DG Level Negotiation of China-CELAC Forum
Subforums in Specific Fields
- China-LAC Agricultural Ministers’Forum
- China-LAC Scientific and Technological Innovation Forum
- China-LAC Business Summit
- China-LAC Think-Tanks Forum
- China-LAC Young Political Leaders' Forum
- China-LAC Infrastructure Cooperation Forum
- China-Latin America and Caribbean Region People-to-People Friendship Forum
- China-CELAC Political Parties Forum
As we can see, the interaction is multilayered and multileveled, involving Track I, Track II and Track III levels with layers such as economics, politics, and socio-culture.
Shotgunner51
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Lots of nice institutions, you are expertise in this field! Keep me posted.
I'm more interested to see canal operating rights in Panama, telecom infra in Mexico, UHV transmission backbone in Brazil, trans-continental railway across Amazon, offshore banking in Carribean, ... and of course all those mining projects, agricultural lands. LatAm is the way to go.
ahojunk
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China is largest buyer of Uruguayan beef in 2016
(Xinhua) 09:25, January 08, 2017
MONTEVIDEO, Jan. 7 (Xinhua) -- In 2016, China was once again the main purchaser of Uruguayan beef, having purchased 188,411 tons of the meat, a 15.8 percent rise over 2015, according to data from the National Institute of Meats.
In 2016, Uruguay gained 624 million U.S. dollars from its exports of beef to China, which has long been a reliable source of revenue for the country, as published by local daily El Pais on Saturday.
The NAFTA bloc which groups the United States, Canada and Mexico was the collective second market for beef, having bought 99,902 tons, a 9.2 percent rise, with the U.S. alone claiming 69,837 tons.
In third place, the European Union bought 54,616 tons, a large 16 percent rise, the data showed.
The South American country made a total of 1.474 billion U.S. dollars from beef exports around the world in 2016, the data revealed.
(Xinhua) 09:25, January 08, 2017
MONTEVIDEO, Jan. 7 (Xinhua) -- In 2016, China was once again the main purchaser of Uruguayan beef, having purchased 188,411 tons of the meat, a 15.8 percent rise over 2015, according to data from the National Institute of Meats.
In 2016, Uruguay gained 624 million U.S. dollars from its exports of beef to China, which has long been a reliable source of revenue for the country, as published by local daily El Pais on Saturday.
The NAFTA bloc which groups the United States, Canada and Mexico was the collective second market for beef, having bought 99,902 tons, a 9.2 percent rise, with the U.S. alone claiming 69,837 tons.
In third place, the European Union bought 54,616 tons, a large 16 percent rise, the data showed.
The South American country made a total of 1.474 billion U.S. dollars from beef exports around the world in 2016, the data revealed.
ahojunk
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Chinese market becomes stabilizer for foreign trade in Latin America
(People's Daily Online) 17:48, February 20, 2017
(file photo)
The volume of trade between China and Latin America totaled $216.6 billion in 2016, and Latin America's exports to China remained generally stable. The Chinese market is working as an essential "stabilizer" for foreign trade in Latin America, and China will be an important trade partner for Latin America in the future, according to a UN official.
Osvaldo Rosales, director of the International Trade and Integration Division of the Economic Commission for Latin America and the Caribbean (ECLAC), spoke with People's Daily about China's role in Latin American development.
China-Latin America trade has entered an adjustment period
Trade between China and Latin America has seen rapid growth in the new century. The volume of trade in 2016 was 16 times higher than in 2000, accounting for 6 percent of China's total foreign trade volume, a growth of 3.3 percent. China has become the largest trade partner of many countries in Latin America. As the world's second largest economy and a key engine in the global economy, China's development has provided a number of opportunities for Latin America, said Marcelo Fernandez, Ecuador's former deputy minister for foreign affairs.
A recent report from China's Ministry of Commerce indicates that China's investment in Latin America has become diversified. Statistics show that China's non-financial direct investment in Latin America is $29.8 billion. With the continued emergence of large-scale mergers and acquisitions, investment has moved beyond the traditional fields of energy, mineral resources and infrastructure to agriculture, manufacturing, information, e-commerce, air transport and more.
Inject positive energy into China-Latin America trade
In the long run, a variety of factors have injected new impetus into China-Latin American trade.
Free trade agreements and cooperation have improved bilateral trade. Since 2006, China has signed free trade agreements with Chile, Peru and Costa Rica. At present, China is promoting free trade agreements with Colombia and Uruguay.
China-Latin America forum, bilateral economic and trade consultation and new Chinese policies have all played major roles in boosting bilateral trade. Paulo Wrobel, Brazilian professor of international relations at Pontifical Catholic University of Rio de Janeiro, believes that China's proposal of constructing a Free Trade Area of the Asia-Pacific (FTAAP) is also good news for Latin America, as it would strengthen regional economic cooperation and promote "Belt and Road" construction.
A report released recently by the UN predicted that Latin America will emerge from its recession and achieve a growth of 1.3 percent in 2017, which would create a favorable environment for trade.
The essential importance of the Chinese market
China's increasing investment in Latin America directly promotes the expansion of bilateral trade and improved trade structure. It also enhances China's competitiveness in Latin America.
Affected by the Brazilian economic crisis, China-Brazil trade has declined in recent years. However, the importance of the Chinese market is still undeniable. Recent data from Brazil's Ministry of Agriculture reveals that China's total imports of Brazilian agricultural products amounted to $20.83 billion, which means that China remains Brazil's largest importer of agricultural products. Official statistics from Brazil indicate that Brazil's investment in China was $19 million in 2016, a slight increase from 2015. Over the same period, Chinese companies increased their investment in Brazil, with annual investment of more than $10 billion and a total investment of more than $30 billion.
Xia Xiaoling, economic and commercial ministerial counselor for the Chinese embassy in Brazil, told People's Daily that China has been Brazil's largest trade partner since 2009. There are currently more than 200 Chinese-funded enterprises in Brazil, doing business in the oil, mining, electricity, manufacturing, financial, agricultural, wholesale and retail industries. Mutual investment will become an important driving force for the development of bilateral economic and trade cooperation.
According to Wrobel, the Brazilian government attaches great importance to foreign investment--especially Chinese investment--when it comes to pushing forward Brazil's economic development. The Investment Partnership Program promoted by Brazilian President Michel Temer will push bilateral trade between China and Brazil to the next level.
(People's Daily Online) 17:48, February 20, 2017
(file photo)
The volume of trade between China and Latin America totaled $216.6 billion in 2016, and Latin America's exports to China remained generally stable. The Chinese market is working as an essential "stabilizer" for foreign trade in Latin America, and China will be an important trade partner for Latin America in the future, according to a UN official.
Osvaldo Rosales, director of the International Trade and Integration Division of the Economic Commission for Latin America and the Caribbean (ECLAC), spoke with People's Daily about China's role in Latin American development.
China-Latin America trade has entered an adjustment period
Trade between China and Latin America has seen rapid growth in the new century. The volume of trade in 2016 was 16 times higher than in 2000, accounting for 6 percent of China's total foreign trade volume, a growth of 3.3 percent. China has become the largest trade partner of many countries in Latin America. As the world's second largest economy and a key engine in the global economy, China's development has provided a number of opportunities for Latin America, said Marcelo Fernandez, Ecuador's former deputy minister for foreign affairs.
A recent report from China's Ministry of Commerce indicates that China's investment in Latin America has become diversified. Statistics show that China's non-financial direct investment in Latin America is $29.8 billion. With the continued emergence of large-scale mergers and acquisitions, investment has moved beyond the traditional fields of energy, mineral resources and infrastructure to agriculture, manufacturing, information, e-commerce, air transport and more.
Inject positive energy into China-Latin America trade
In the long run, a variety of factors have injected new impetus into China-Latin American trade.
Free trade agreements and cooperation have improved bilateral trade. Since 2006, China has signed free trade agreements with Chile, Peru and Costa Rica. At present, China is promoting free trade agreements with Colombia and Uruguay.
China-Latin America forum, bilateral economic and trade consultation and new Chinese policies have all played major roles in boosting bilateral trade. Paulo Wrobel, Brazilian professor of international relations at Pontifical Catholic University of Rio de Janeiro, believes that China's proposal of constructing a Free Trade Area of the Asia-Pacific (FTAAP) is also good news for Latin America, as it would strengthen regional economic cooperation and promote "Belt and Road" construction.
A report released recently by the UN predicted that Latin America will emerge from its recession and achieve a growth of 1.3 percent in 2017, which would create a favorable environment for trade.
The essential importance of the Chinese market
China's increasing investment in Latin America directly promotes the expansion of bilateral trade and improved trade structure. It also enhances China's competitiveness in Latin America.
Affected by the Brazilian economic crisis, China-Brazil trade has declined in recent years. However, the importance of the Chinese market is still undeniable. Recent data from Brazil's Ministry of Agriculture reveals that China's total imports of Brazilian agricultural products amounted to $20.83 billion, which means that China remains Brazil's largest importer of agricultural products. Official statistics from Brazil indicate that Brazil's investment in China was $19 million in 2016, a slight increase from 2015. Over the same period, Chinese companies increased their investment in Brazil, with annual investment of more than $10 billion and a total investment of more than $30 billion.
Xia Xiaoling, economic and commercial ministerial counselor for the Chinese embassy in Brazil, told People's Daily that China has been Brazil's largest trade partner since 2009. There are currently more than 200 Chinese-funded enterprises in Brazil, doing business in the oil, mining, electricity, manufacturing, financial, agricultural, wholesale and retail industries. Mutual investment will become an important driving force for the development of bilateral economic and trade cooperation.
According to Wrobel, the Brazilian government attaches great importance to foreign investment--especially Chinese investment--when it comes to pushing forward Brazil's economic development. The Investment Partnership Program promoted by Brazilian President Michel Temer will push bilateral trade between China and Brazil to the next level.
艹艹艹
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China-CELAC Agreement Could Bolster Infrastructure Development In Latin America
By Oxford Business Group - Feb 13, 2022, 12:00 PM CST- CELAC and China signed a wide-ranging economic agreement in December.
- The agreement is expected to lead to a rise in infrastructure investment.
- Plans were outlined for greater engagement between the public and private sectors.
- 4IR technologies could also benefit from greater economic cooperation.
In December the Community of Latin American and Caribbean States (CELAC), a bloc of 33 countries that includes regional heavyweights such as Argentina, Colombia and Mexico, signed the China-CELAC Joint Action Plan for Cooperation in Key Areas 2022-24.
The seven-point agreement outlines plans for greater engagement and cooperation between governments, private companies and financial institutions in a number of areas, including infrastructure development, the economy, and political and security issues.
While China has invested significantly in the region in past decades, the deal is expected to herald a deepening of cooperation in a region that has traditionally been heavily tied to the US.
The agreement is also indicative of CELAC’s growing ties with the world: the deal with China builds on previous agreements with the US, Canada, ASEAN, the EU, Turkey, Japan and Russia.
Infrastructure investment
A key pillar of the joint action plan relates to infrastructure.This is a crucial issue for Latin America and the Caribbean, with the Inter-American Development Bank (IADB) predicting that the region will need to invest 3.1% of its GDP into infrastructure annually in order to meet its Sustainable Development Goals by 2030.
Of this, the bank says 59% of the amount would need to be invested in new infrastructure, with the rest allocated to the maintenance and replacement of existing assets.
To this end, the China-CELAC agreement has outlined plans for greater cooperation with regard to the former’s Belt and Road Initiative, which could see more state-backed Chinese infrastructure investment in the region.
Further to this, the agreement also included the objective to hold a Forum on China-CELAC Transport Cooperation “as soon as possible”.
An improvement in transport infrastructure is crucial to Latin America and the Caribbean’s economic development. Around half of the 3.1% of annual GDP in infrastructure investment required in the region – according to the IADB – relates strictly to the transport sector, whether in the form of roads, airports or other types of public transport.
The pandemic laid bare some of the shortfalls of the region’s transport networks, with many parts of the continent experiencing either food, medical or key equipment shortages at different stages. Improving transport connections would not only build resilience in the region’s internal supply chains, but also improve the business environment for local companies.
Aside from strictly public involvement, the joint action plan also looks to incentivize greater private sector investment in Latin America, and dovetails with a number of current global economic developments.
“The disruption of global supply chains created by the pandemic has created a higher impetus to locate industrial sites closer to the main destination markets,” Bruno Martinez, the CEO of Mexican industrial park developer Alveo Kapital, told OBG. “Coupled with rising wages in Asia, this context has put Mexico under the spotlight for Asian investors looking to diversify their production bases and bring them closer to the US.”
Increasing economic cooperation
In addition to facilitating infrastructure investment, the China-CELAC deal also seeks to improve what it describes as “pragmatic economic cooperation”.Highlighting nine focus areas – trade and investment, finance, agriculture and food, science and technology innovation, industry and information technology, aviation and aerospace, energy and resources, tourism, and Customs and taxes – the agreement aims to improve cooperation and collaboration between the various parties.
While the effects of this could be felt across a wide range of sectors, one area that would significantly benefit is that of high-tech manufacturing and what are known as Fourth Industrial Revolution (4IR) technologies.
4IR, also known as Industry 4.0, refers to technologies such as artificial intelligence, analytics, the internet of things, cloud computing and robotics that are seen as key to next-generation manufacturing, as well as advancements in other sectors.
Through greater cooperation with innovative Chinese companies and state bodies, CELAC firms and governments alike could benefit from an improvement in technology, skills and know-how.
A number of countries, including Argentina, Chile and Mexico, have highlighted the importance of developing 4IR capabilities, which are seen as key to future economic growth and the ongoing recovery from the Covid-19 pandemic.
By Oxford Business Group
艹艹艹
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13:39, 15-Feb-2022
China-CELAC Joint Action Plan 2022-2024 set to unlock dividends for Latin America
Hamzah Rifaat Hussain
Presidents and representatives pose for group pictures at the Sixth Summit of the Community of Latin American and Caribbean States (CELAC) at the National Palace in Mexico City, Mexico, September 18, 2021. /CFP
Editor's note: Hamzah Rifaat Hussain, a former visiting fellow at the Stimson Center in Washington and former assistant researcher at the Islamabad Policy Research Institute, is a TV anchor at Indus News in Pakistan. The article reflects the author's opinions and not necessarily those of CGTN.
Numerous Latin American and Caribbean states are now looking beyond the United States for sustainable, tangible and growth-oriented economic cooperation with the China-CELAC Joint Action Plan for Cooperation set to commence in 2022.
Constant neglect by the Biden administration and lack of attention paid to lingering economic problems on the continent has resulted in respective leaderships shunning American geopolitical designs for more meaningful engagement. The deal that was signed in December 2021 between a bloc of 33 countries, including Argentina, Brazil and Mexico, outlines plans for greater linkages between corporations, sovereign governments and financial institutions, with this joint action plan also providing excellent avenues for cementing economic ties in a region which has been historically reliant on American assistance.
The shift in Latin American, Central American and Caribbean priorities became evident with Argentina's latest decision to join the Belt and Road Initiative this year which puts it among countries such as Bolivia, Chile and Peru. Additionally, the Uruguayan government had been pressing to ink a free trade deal with China in October 2021, and Ecuador is also set to sign a trade deal with debt renegotiations with China in 2022.
The reasons for these trends are obvious where the United States, with its geopolitical ambitions, has constantly ignored the economic plight of the region. Such ignorance laced with misguided foreign policy priorities has resulted in blowback effects with countries such as Nicaragua eschewing political engineering by the Biden administration on Chinese sovereign issues for more meaningful economic engagement.
With such ignorance continuing unabated, the China-CELAC Joint Action Plan of 2022 carries added significance. Note that the Inter-American Development Bank (IDB) has predicted that the region needs to invest at least 3.1 percent of its GDP into infrastructure annually to meet its Sustainable Development Goals (SDG's) by 2030. So far, historical reliance on the United States for economic assistance has not yielded desired dividends despite high expectations that the Biden administration from 2021 onwards would address the downward trajectory in inter-American relations.
Chinese State Councilor and Foreign Minister Wang Yi chairs the third Ministers' Meeting of the Forum of China and the Community of Latin American and Caribbean States (China-CELAC Forum) and delivers a speech via video link, Dec. 3, 2021. /Xinhua
Note that U.S. President Joe Biden has yet to visit the region since assuming office, and Vice President Kamala Harris visited just twice. Also, her trip to Guatemala and Mexico was marred with controversy, as talks centered on refugees and migratory issues rather than concerted attempts at inking economic deals which could help both countries. As a result, negative sentiment has festered due to Washington D.C.'s own foreign policy blunders in both countries and beyond.
The IDB has also warned that 59 percent of the projected amount as part of the continent's GDP needs to be invested in new infrastructure. The Joint Action Plan of 2022 provides greater prospects for cooperation through the Belt and Road Initiative in this regard, which encompasses more state-sponsored Chinese infrastructural investment in the region. As the pandemic stymied transportation networks throughout the continent and the Caribbean, the joint plan seeks to incentivize greater private sector investment by highlighting nine focus areas, such as technology, finance, agriculture, aviation, information technology, customs and tourism.
Another aspect that will impact GDP growth rates is the domestic manufacturing capacity for the respective countries for which the Joint Action Plan of 2022 focuses on the implementation of Fourth Industrial Revolution technologies, such as artificial intelligence, cloud computing and robotics. These technologies allow for smoother production and uninhibited supply lines, which have been well-received by countries such as Argentina, Mexico and Chile.
This agreement is set to materialize in an apolitical setting. However, U.S. foreign policy continues to lack constructive approaches to Latin America due to the Biden administration's neglect of matters in its immediate neighborhood. As the sole technological superpower of the globe, the United States has not provided any blueprint for Latin American economies to compete in the pandemic era. Since 2000, it has lost its status as the primary trade partner of all but one South American country. The post 9/11 era has witnessed wars, interventions and humanitarian crises, with the current Ukraine quagmire being a grand example of misguided priorities. However, for Latin America, the Caribbean and Central America, prospects under the China-CELAC Joint Action Plan for Cooperation provide plenty of scope and optimism.
China-CELAC Joint Action Plan 2022-2024 set to unlock dividends for Latin America
Hamzah Rifaat Hussain
Presidents and representatives pose for group pictures at the Sixth Summit of the Community of Latin American and Caribbean States (CELAC) at the National Palace in Mexico City, Mexico, September 18, 2021. /CFP
Editor's note: Hamzah Rifaat Hussain, a former visiting fellow at the Stimson Center in Washington and former assistant researcher at the Islamabad Policy Research Institute, is a TV anchor at Indus News in Pakistan. The article reflects the author's opinions and not necessarily those of CGTN.
Numerous Latin American and Caribbean states are now looking beyond the United States for sustainable, tangible and growth-oriented economic cooperation with the China-CELAC Joint Action Plan for Cooperation set to commence in 2022.
Constant neglect by the Biden administration and lack of attention paid to lingering economic problems on the continent has resulted in respective leaderships shunning American geopolitical designs for more meaningful engagement. The deal that was signed in December 2021 between a bloc of 33 countries, including Argentina, Brazil and Mexico, outlines plans for greater linkages between corporations, sovereign governments and financial institutions, with this joint action plan also providing excellent avenues for cementing economic ties in a region which has been historically reliant on American assistance.
The shift in Latin American, Central American and Caribbean priorities became evident with Argentina's latest decision to join the Belt and Road Initiative this year which puts it among countries such as Bolivia, Chile and Peru. Additionally, the Uruguayan government had been pressing to ink a free trade deal with China in October 2021, and Ecuador is also set to sign a trade deal with debt renegotiations with China in 2022.
The reasons for these trends are obvious where the United States, with its geopolitical ambitions, has constantly ignored the economic plight of the region. Such ignorance laced with misguided foreign policy priorities has resulted in blowback effects with countries such as Nicaragua eschewing political engineering by the Biden administration on Chinese sovereign issues for more meaningful economic engagement.
With such ignorance continuing unabated, the China-CELAC Joint Action Plan of 2022 carries added significance. Note that the Inter-American Development Bank (IDB) has predicted that the region needs to invest at least 3.1 percent of its GDP into infrastructure annually to meet its Sustainable Development Goals (SDG's) by 2030. So far, historical reliance on the United States for economic assistance has not yielded desired dividends despite high expectations that the Biden administration from 2021 onwards would address the downward trajectory in inter-American relations.
Chinese State Councilor and Foreign Minister Wang Yi chairs the third Ministers' Meeting of the Forum of China and the Community of Latin American and Caribbean States (China-CELAC Forum) and delivers a speech via video link, Dec. 3, 2021. /Xinhua
Note that U.S. President Joe Biden has yet to visit the region since assuming office, and Vice President Kamala Harris visited just twice. Also, her trip to Guatemala and Mexico was marred with controversy, as talks centered on refugees and migratory issues rather than concerted attempts at inking economic deals which could help both countries. As a result, negative sentiment has festered due to Washington D.C.'s own foreign policy blunders in both countries and beyond.
The IDB has also warned that 59 percent of the projected amount as part of the continent's GDP needs to be invested in new infrastructure. The Joint Action Plan of 2022 provides greater prospects for cooperation through the Belt and Road Initiative in this regard, which encompasses more state-sponsored Chinese infrastructural investment in the region. As the pandemic stymied transportation networks throughout the continent and the Caribbean, the joint plan seeks to incentivize greater private sector investment by highlighting nine focus areas, such as technology, finance, agriculture, aviation, information technology, customs and tourism.
Another aspect that will impact GDP growth rates is the domestic manufacturing capacity for the respective countries for which the Joint Action Plan of 2022 focuses on the implementation of Fourth Industrial Revolution technologies, such as artificial intelligence, cloud computing and robotics. These technologies allow for smoother production and uninhibited supply lines, which have been well-received by countries such as Argentina, Mexico and Chile.
This agreement is set to materialize in an apolitical setting. However, U.S. foreign policy continues to lack constructive approaches to Latin America due to the Biden administration's neglect of matters in its immediate neighborhood. As the sole technological superpower of the globe, the United States has not provided any blueprint for Latin American economies to compete in the pandemic era. Since 2000, it has lost its status as the primary trade partner of all but one South American country. The post 9/11 era has witnessed wars, interventions and humanitarian crises, with the current Ukraine quagmire being a grand example of misguided priorities. However, for Latin America, the Caribbean and Central America, prospects under the China-CELAC Joint Action Plan for Cooperation provide plenty of scope and optimism.
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