Chinese President Xi Jinping embarked on a series of state visits to Peru, Chile, and Ecuador on Wednesday, November 16th. China, which is Peru and Chile’s largest trading partner and Ecuador’s third largest, will sign multiple agreements with these nations to boost cooperation in trade, investment, finance and nuclear power.
According to Vice-Foreign Minister Wang Chao, in Ecuador, Xi will talk with President Rafael Correa, meet reporters, attend launch ceremonies for Chinese-assisted projects and witness the signing of agreements. This visit will be the first by a Chinese president to Ecuador since diplomatic ties were established 36 years ago. In Peru, Xi will meet President Pedro Pablo Kuczynski. In Chile, Xi will expand negotiations on their free trade agreement that was signed 11 years ago.
Sino-Latin American relations, while not discussed as often as Sino-American or Sino-African relations, are an important arena of cooperation, trade and investment. In 2015, China’s direct investment in Latin America was $126.3 billion.
Written by: Kevin Sonukan
For more information: http://usa.chinadaily.com.cn/china/2016-11/16/content_27396775.htm