Bridging continents: China-LAC relations reach new heights

Trade

· Since 2012, China has been Latin America and the Caribbean's second-largest trading partner, and it now ranks as the top trade partner for Chile, Brazil, and Peru.

· Since 2005, China has signed five FTAs in the region, namely with Chile (the first of its kind with a LAC country), Peru, Costa Rica, Ecuador and Nicaragua.

· The trade volume between China and LAC countries has reached $518.4 billion in 2024, double that of a decade ago.

· China has been Chile's largest cherry export market for seven consecutive years. Specialty products in LAC region, such as Ecuadorian bananas, Nicaraguan honey and Peruvian blueberries, are more common on Chinese tables.

· The cooperation between the two sides has been expanded from traditional areas including economy and trade, finance and infrastructure to such emerging areas as energy, digital economy and aerospace.