The 19th National Congress of the Communist Party of China (CPC) fostered "new opportunities for cooperation between China and Latin America," a Chinese diplomat said Tuesday.
After the October congress in Beijing, "there will be a greater push for Sino-Latin American cooperation," China's Ambassador to Argentina Yang Wanming predicted in an editorial published on Tuesday by Argentina's largest newspaper, Clarin.
In the next 15 years, China is expected to import goods with a total value of some 24 trillion U.S. dollars from other countries, including from Latin America, and invest 2 trillion dollars in other countries, such as those in the region, said Yang.
In other words, China's growing demand for quality goods is poised to boost Latin America's exports.
Data from China's Ministry of Commerce showed that China-LatAm bilateral trade volume reached 166.78 billion dollars in the first eight months of 2017, representing an 18-percent year-on-year increase.
While China's consumer demand spurs trade, its robust productive capacity can help meet the needs of Latin American countries lacking infrastructure, integration and productive competitiveness.
"Both sides can make the most of these opportunities so that China's market, capital and technological advantages can inject strength into Latin America's sustainable development," said Yang.
He pointed out innovation will become China's "principal driving force of development," saying the application of new technologies in the real economy, such as the Internet, big data and artificial intelligence, will be further promoted.
Another focus will be promoting the development of ecological industries to protect the environment, Yang said.
"We must intensify our exchanges with Latin America in technological research, training of human resources, use of renewable energy, environmental management and ecological security, among other new areas," he added.
With that in mind, China "will make space for deeper strategic coordination," the diplomat said, noting that the 19th CPC National Congress specified that "the general goal of China's foreign policy in this new era is to build a new kind of international relations for a community of common destiny."
To that end, China will "actively participate and promote economic globalization and persevere in opening up," Yang said.
"China and Latin America can bolster even more their coordination on international financial reform, the G20, BRICS, Asia-Pacific cooperation, climate change and food security, to safeguard the common interests of these countries," he elaborated.
In 2018, the two sides will be awaiting "a rich agenda of cooperation" in a year when key bilateral forums, including the second ministerial meeting between China and the Community of Latin American and Caribbean States and the first G20 Summit will be held in South America.
China will commemorate the 40th anniversary of its reform and opening up this year, and hold its first International Import Exposition, designed to give impetus to the global development initiative put forward by China.
"I hope both sides will benefit from these common agendas, by strengthening cooperation and joining forces following the comprehensive development of Sino-Latin American ties," said Yang.
