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Latin America becomes the second largest destination for China’s overseas investment. 9 countries signed a joint agreement to build the “Belt and Road” : LONGTEMP

Latin America becomes the second largest destination for China’s overseas investment. 9 countries signed a joint agreement to build the “Belt and Road”

  • Date: Sep 13, 2018
  • Comments: no comments
  • Categories: News

Introduction: Up to now, nine Latin American countries have signed a memorandum of understanding on the “One Belt, One Road” cooperation with China. In the first half of this year, the trade volume between China and Latin America reached US$145.3 billion, a year-on-year increase of 21.5%.

Up to now, nine Latin American countries have signed a memorandum of understanding on the “One Belt, One Road” cooperation with China. In the first half of this year, the trade volume between China and Latin America reached US$145.3 billion, a year-on-year increase of 21.5%.

On the 8th, the second “China-Latinist Dialogue” seminar was held in Nanjing with the theme of “One Belt, One Road: The Road to Dialogue between China and Latin America”. Zhao Bentang, director of the Latin American Department of the Ministry of Foreign Affairs, disclosed the above data at the meeting.

Zhao Bentang said that in recent years, China has upgraded its relationship with five Latin American countries to a comprehensive strategic partnership and established strategic partnerships with four Latin American countries. China’s investment in Latin America exceeds 200 billion U.S. dollars, and Latin America has become second only to Asia’s second largest destination for Chinese overseas investment; more than 2,000 Chinese companies investing in Latin America, creating more than 1.8 million jobs locally.

In January this year, China and Latin America jointly issued the “Special Statement on the Belt and Road”, which marked the official extension of the “Belt and Road” initiative to Latin America. Zhao Bentang said that over the past six months or so, China-Latin America has made a phased progress in building the “Belt and Road”. Up to now, nine Latin American countries have signed a memorandum of understanding on the “One Belt and One Road” cooperation with China, and there are several Latin American countries. It is expected to be signed recently.

On September 3, Costa Rica and China officially signed a Memorandum of Understanding on the “One Belt, One Road” cooperation, which is the latest Latin American country to sign a relevant agreement with China.

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