Xi's trip opens new horizon for ties with Latin America(3)

After their talks, the two leaders witnessed the signing of a dozen agreements covering bilateral cooperation in energy, mining, infrastructure, trade, investment, education and banking.

China will build a Chinese culture center in Mexico City, the first in Latin America, and Mexico will establish a Mexican culture center in Beijing.

China promised to offer 300 scholarships to Mexican students, while the National Autonomous University of Mexico will establish a center of Mexican studies in Beijing Foreign Studies University.

In addition, the two sides will promote cooperation in such areas as clean and renewable energy, the prevention and control of environmental pollution, biotechnology and nanotechnology.

China and Mexico support the establishment of the China-Latin America cooperation forum and promote the overall cooperation between China and Latin America to a higher level.

POTENTIAL TO BE TAPPED

China and Latin America have expanded pragmatic cooperation in recent years, delivering tangible benefits to both sides.

With two-way trade reaching 261.2 billion U.S. dollars in 2012, China has become the second largest trading partner of Latin America and the Caribbean, which witnessed the world's fastest growth in exports to China.

By investing nearly 65 billion dollars so far in Latin America and the Caribbean, China has helped create much-needed jobs in the region.

However, both sides are fully aware that there is potential to be tapped. China's development offers great opportunities for Latin America.

As the world's second biggest importer, China will buy goods worth over 1 trillion dollars over the next five years and its overseas investment will exceed half a trillion dollars.

As Xi has mentioned in his speech at the Mexican Senate, China is confident in maintaining steady economic expansion, which would create more business opportunities for the world including Latin America and the Caribbean.

Latin America needs Chinese investment and participation in infrastructure construction. The region's products such as farm produce and energy need the Chinese market.