New phase in Sino-Latin American ties

President Xi Jinping is on his second visit to Latin America seeking to start a new phase in China's relationship with Latin America and the Caribbean (LAC). In recent years, this relationship has been characterized by dynamic trade, an upturn in investment, a healthy exchange of high-level visits and the beginning of institutional dialogue.

After offering to deepen the cooperation agenda during a visit to the Economic Commission for Latin America and the Caribbean headquarters in June 2012, Chinese leaders organized the China-LAC Ministers of Agriculture Forum in June 2013. And the ECLAC-China Cooperation Forum is likely to be held soon in Beijing.

Between 2000 and 2013, the trade volume between China and LAC multiplied 21-fold, from $12 billion to $250 billion. China has become one of the most important trading partners of the region. In fact, it is already the second provider of imports and, in 2015, could surpass the European Union as the second-largest export market for LAC. It is already the top export market for Brazil, Chile and Peru and the second-largest for Colombia, Cuba, Uruguay and Venezuela.