Xi Jinping set to begin Latin American tour and enhance cooperation

Chinese President Xi Jinping is set to begin a three-nation Latin American tour next week, with scheduled stops in Ecuador, Peru and Chile.

The trip will mark the Chinese President’s third trip to Latin America since taking office.

Xi Jinping will become the first Chinese president to ever visit Ecuador.

A strategic partnership established between the two countries last year has already produced solid results.

Currently, China is Ecuador’s third largest trading partner and an important source of foreign investment.

Both sides have also made strides in other areas, including energy, power generation and mining.

Chinese vice Foreign Minister Wang Chao says Xi Jinping’s visit is going to further expand China-Ecuador cooperation.

“During his time in Ecuador, President Xi Jinping and President Rafael Correa will discuss issues of common concern and witness the signing of a number of important cooperation documents. They will both meet the press and inaugurate a Chinese-sponsored assistance project in Ecuador. New deals will be signed in the areas of production capacity, trade, finance, legal affairs and culture.”

Peru and Chile are among the earliest Latin American nations to establish free trade agreements with China.

Under the impetus of the deals, exports from these two countries to China have seen double-digit annual growth.

China is also now the largest trading partner of both Peru and Chile.

Zhang Xiangchen, a negotiator with China’s Commerce Ministry, says Xi Jinping’s visit is also going to include an update to the existing trade deals.

“During President Xi Jinping’s visit to Peru, the two sides are expected to enter new deals to further enhance the current FTA, as well as jointly building industrial parks. We will also organize Chinese enterprises to visit Peru to promote bilateral trade. The FTA between China and Chile is now in its tenth year. A joint study to upgrade the deal has produced solid results, and the president’s visit is expected to bring about further cooperation in e-commerce.”

While in Peru, Xi Jinping will also address the national parliament.

The two sides are expected to jointly issue a roadmap to guide the development of further cooperation.

This year marks China’s 25th year as a member of the Asia-Pacific Economic Cooperation framework.

During his time in the Peru’s capital, Lima, Xi Jinping will attend an informal APEC leaders meeting.

Li Baodong, vice Minister of Foreign Affairs, says China highly values the APEC’s role in promoting Asia-Pacific cooperation, saying Xi Jinping’s attendance at the meeting is expected to accomplish three major goals.

“The first aspect is to promote openness and inclusiveness. The second is to deepen pragmatic cooperation and strengthen connectivity and infrastructure construction so as to create good conditions for the developing economies to fit into the Asia-Pacific region. The third is to strengthen the consensus on Asia-Pacific partnership and the long-term prospect of the Asia Pacific regional cooperation.”

Beyond economic and industrial cooperation, promoting cultural exchanges is also on Xi Jinping’s agenda.

While in Chile, he’s due to address the opening of a summit of China and Latin American media leaders.

Xi Jinping’s Latin American tour will last from next Thursday to November 23rd.

(CRI/V. Ning)