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Full text: China's Policy Paper on Latin America and the Caribbean

(Xinhua)
Updated: 2008-11-06 09:13

(6) Local Government Exchanges

The Chinese side highly values exchanges at the local government level with countries in Latin America and the Caribbean. It supports the twinning of provinces/states or cities between China and Latin American and Caribbean countries, and exchanges and cooperation in business, science and technology, culture and other fields to increase mutual understanding and friendship. It attaches great importance to cooperation with Latin American and Caribbean countries in international local governments organizations.

2. In the Economic Field

(1) Trade

The Chinese Government will continue to work with its Latin American and Caribbean counterparts in the spirit of equality and mutual benefit to expand and balance two-way trade and improve the trade structure to achieve common development. At the same time, it will work with these countries to properly settle trade frictions through consultation and cooperation. China will, on the basis of mutual benefit and win-win cooperation, give positive consideration to concluding free trade agreements with Latin American and Caribbean countries or regional integration organizations.

(2) Investment Cooperation

The Chinese Government encourages and supports qualified Chinese companies with good reputation in investing in manufacturing, agriculture, forestry, fishing, energy, mineral resources, infrastructure, and service sector in Latin America and the Caribbean to promote the economic and social development of both sides. The Chinese Government will continue to welcome investment by Latin American and Caribbean businesses in China.

(3) Financial Cooperation

The Chinese Government supports China's monetary and financial regulatory authorities and financial institutions in stepping up consultation and professional exchanges and cooperation on macroeconomic situation and economic and financial policies with their counterparts in Latin American and Caribbean countries. It encourages Chinese commercial banks to set up branches in Latin America and the Caribbean. It will push for the conclusion of banking regulatory cooperation agreements with Latin American and Caribbean countries as appropriate, and work with them to jointly combat money laundering and terrorist financing.

(4) Agricultural Cooperation

The Chinese Government will promote exchanges and cooperation in agricultural science and technology with Latin American and Caribbean countries through holding agricultural technique training programs and dispatching technicians to the Latin American and Caribbean region. An information exchange mechanism will be established to discuss issues of common interest. Cooperation in flora and fauna inspection will be intensified and agricultural trade will be expanded to jointly uphold food security.

(5) Industrial Cooperation

The Chinese side wishes to strengthen exchanges with Latin American and Caribbean countries in industry. It is desirable to establish and improve relevant cooperation mechanisms, share best practices in each other's industrialization process, and promote and deepen practical cooperation.

(6) Infrastructure Construction

The Chinese side will strengthen practical cooperation with Latin American and Caribbean countries in transport, information and communications, water conservancy and hydropower and other areas of infrastructure development, scale up project contracting in the region, and conduct mutually beneficial cooperation in various ways so as to contribute its share to further infrastructure development in the region.

(7) Resources and Energy Cooperation

The Chinese side wishes to expand and deepen mutually beneficial cooperation with Latin American and Caribbean countries in resources and energy within bilateral cooperation frameworks.

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