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China-LAC Business Summit Conclued with 8 Agreements Signed, Worthing $1.1 Billion

By SHIHAN YANGICHONGQING|Nov 17,2021

Chongqing- According to the achievements launch event of the 14th China-Latin America and the Caribbean (China-LAC) Business Summit, numerous results have been achieved during the summit, involving cooperation in multiple fields like China-LAC economy and trade and think tanks.

The flag handover from Cai Yunge, deputy mayor of Chongqing (M) to Carlos Larrea (L), Ecuador Ambassador to China. (Photo provided to iChongqing)

The Chongqing Initiative by Business Communities of China and LAC Countries was released. China Council for the Promotion of International Trade (CCPIT) signed memorandums of understanding on cooperation with its counterparts in Ecuador, Argentina, and Mexico, respectively. China-LAC enterprises signed eight cooperation agreements worth nearly 1.1 billion U.S. dollars, covering such fields as animal husbandry, minerals, automobiles, and medical devices. In addition, the China-LAC Think Tank Cooperation Webinar, a sub-forum of China-LAC Business Summit, released two reports, namely the Research Report on China-LAC Five-Area Cooperation and Exchanges in the Framework of the Belt and Road and the Report on China-LAC Economic and Trade Cooperation Development (2021)”.

Zhang Shaogang, vice chairman of CCPIT, signed memorandums of understanding on cooperation with its counterparts in Ecuador, Argentina, and Mexico, respectively. (Photo provided to iChongqing)

Zhang Shaogang, Vice Chairman of CCPIT, introduced that the 14th China-LAC Business Summit followed the theme of “Openness and Innovation for Common Progress.” The summit embraced in-depth discussions on advancing high-quality development of China-LAC economic and trade cooperation, deepening China-LAC financial and infrastructure cooperation, and strengthening the think tank cooperation under the new development paradigm. Many other activities were also held, including China-LAC Business Council Annual Meeting and China-LAC Business Matchmaking (online), so as to further promote China-LAC development strategy matchmaking, expedite economic and trade cooperation and share cooperation results.

The signing ceremony was witnessed by Mr. Cai and Mr. Zhang. (Photo provided to iChongqing)

The summit gathered participants from all sectors of society, including representatives of China-LAC trade and investment promotion agencies, chambers of commerce, associations, enterprises, and experts from renowned China-LAC research institutions and think tanks. Ambassadors, agents, and representatives of 16 LAC countries in China also attended the summit.

The summit attracted enterprise representatives from key China-LAC cooperation fields such as infrastructure, finance, energy, transportation, and technology. Relevant enterprises included Brazil’s Vale and Mexico’s central bank Banco de México with worldwide reputations, as well as China’s renowned centrally administered State-owned enterprises and private enterprises, involving China Communications Construction Company Limited, ZTE Corporation, China Three Gorges International Limited, and China Export & Credit Insurance Corporation. The participants conducted in-depth exchanges on high-quality co-building of the Belt and Road and sharing of opportunities for innovation growth.

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