According to the Chinese leader Latin America is already the second most important recipient of Chinese foreign investments. Xi referred to the results of the China-CELAC Forum held the day before in Dogguan, southern China.
The summit in Dogguan was devoted to discussing the prospects for further development of economic relations with China. There are already over 3,000 Chinese companies operating in CELAC member countries.
China is tightening cooperation with Latin America
The China-CELAC Forum in Dogguan was attended by over two hundred entrepreneurs, business representatives and politicians representing Latin America and China. In 2022, the value of trade between China and individual CELAC countries increased by 7.7 percent. – up to 11 percent and reached a total value of nearly USD 486 billion.
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Experts in the field of foreign trade and marketing of the German company GTAI predict that trade between Latin America and China will double in the next decade.
According to Stefanie Schmitt, who heads GTAI’s representative office in Chile,Many Latin American consumers highly value Chinese products for their value for money.
A lot of people here live in poverty and Chinese products, such as mobile phones and cars, are somehow affordable for them, the expert says.
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Xu Keijang, Executive Vice President of the China Federation of Industry and Trade, quoted by the Sinhua news agency, declared during the Dogguan Summit that Chinese investors “should not be indifferent to the social situation of the people they employ in South American countries” and “must contribute to the sustainable development of these countries” “.
The Commonwealth of American and Caribbean States CELAC was established in 2010 on the initiative of the then left-wing leaders of states – the late President of Venezuela, Hugo Chavez, and the President of Brazil, Luiz Inacio Lula da Silva, who has been in office again since January 1, 2023.
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