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Ministry of Commerce: China-Latin America trade volume reached 286.83 billion US dollars in the first 11 months, an increase of 1.8% year-on-year

来源: 证券日报网 2019-12-27 08: 22: 26Source: Securities Daily

On December 26, the Ministry of Commerce held a regular press conference. The spokesman Gao Feng introduced the recent economic and trade achievements between China and Latin American countries.

Gao Feng said that Latin America and the Caribbean is a natural extension of the "21st Century Maritime Silk Road" and an important participant in the joint construction of the "Belt and Road". At present, China has signed cooperation documents with 19 Latin American countries to jointly build the “Belt and Road” initiative. The economies of China and Latin American countries are highly complementary. In recent years, the level of economic and trade cooperation has continued to increase. The Belt and Road Initiative has yielded fruitful results and huge development potential. China-Latin America trade continues to grow. From January to November 2019, China-Latin America trade volume reached US $ 286.83 billion, an increase of 1.8% year-on-year, of which China's exports were US $ 136.48 billion, an increase of 0.2%, and imports were US $ 150.35 billion, an increase of 3.4%. Two-way investment continues to expand, and Latin America is China's second largest foreign investment destination. As of November this year, China ’s stock of direct investment in Latin America has exceeded US $ 410 billion, and Latin America ’s cumulative actual investment in China has exceeded US $ 220 billion, with a total of 33,188 foreign-invested enterprises established.

Gao Feng introduced that in recent years, the level of trade and investment liberalization and facilitation in China and Latin America has increased significantly. The first is to accelerate the construction of the free trade zone. The China-Chile Free Trade Area Upgrade Agreement has officially entered into force on March 1 this year. Negotiations with Peru on the Free Trade Area upgrade are currently underway, and the implementation of the Free Trade Agreement with Costa Rica is smooth. Second, the role of the trade and investment promotion platform is prominent. Latin American countries actively participate in the China International Import Expo. More and more Latin American advantaged products have entered the Chinese market. The China-Latin America Infrastructure Cooperation Forum is held in Macau every year to promote Chinese companies to actively participate in infrastructure connectivity in Latin America. Third, the intergovernmental economic and trade cooperation mechanism has been continuously improved. In recent years, China has held bilateral mixed economic and trade committee meetings with a number of Latin American and Latin American economic and trade authorities to promote pragmatic cooperation in trade, investment, e-commerce, and infrastructure, and has established trade smooth working groups and investments with counterparts in some countries. Cooperation mechanisms such as cooperation working groups promote trade and investment liberalization and facilitation.

Gao Feng said that in the next step, the Ministry of Commerce will continue to play the role of China-Latin America intergovernmental cooperation mechanism and trade and investment promotion platform, continuously improve the level of China-Latin America free trade zone construction and cooperation, and accelerate the upgrading of China-Latin America economic and trade cooperation. The continued development of the comprehensive partnership has injected strong momentum. (Reporter Liu Meng)

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