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Achievements made at 12th China-LAC Business Summit

11/05/2018 11:06

Business communities from China and Latin American and Caribbean countries have made achievements at the 12th China-LAC Business Summit in Zhuhai, Guangdong Province. China Council for the Promotion of International Trade (CCPIT), host of the summit and trade promotion agencies of Latin American countries jointly issued Zhuhai Declaration on November 2.

Delegates from CCPIT and 41 other trade and investment promotion agencies from 24 Latin American and Caribbean countries held discussions and jointly issued Zhuhai Declaration, in which both sides agreed to contribute to the Belt and Road construction, oppose unilateralism and trade protectionism, promote China-LAC trade and investment facilitation, enhance economic and trade policy negotiation, commercial legal cooperation, advocate the mitigation of all trade barriers, jointly safeguard stable trade and investment environment, build up more effective cooperation mechanism so as to create more highlights concerning Sino-LAC business cooperation.

Thousands of practical and fruitful B2B match-making meetings were held during the summit. Nine companies from home and abroad in the fields of aviation, air transport, cross border e-commerce, energy-saving, environmental protection, manufacturing and mining signed cooperation agreements at the summit. Another 56 cooperation agreements or intentions were signed among CCPIT, CCPIT regional sub-councils, trade and investment promotion agencies, chambers of commerce and industry from Latin American and Caribbean countries. LIDE, or Brazilian elite entrepreneur association signed cooperation agreement with 10 CCPIT sub-councils of Shanxi, Jilin, Anhui, Shandong, Hubei, Hunan, Xinjiang, Xi’an, Shenzhen and Zhuhai.

This summit attracted more than 2,000 participants. Over 1,400 people are from the Chinese side, including central and regional governments, financial institutions, trade and investment promotion agencies, as well as numerous renowned state-owned and privately-owned enterprises including State Grid Corp of China (SGCC), China Communication Construction Co (CCCC), China Baowu Steel Group Corp, and Gree Electric Appliances of Zhuhai, etc. Also present are 600 foreign representatives from more than 40 countries and regions.

Themed "Promoting Belt & Road global cooperation, seizing new opportunities for China-LAC economic and trade development," the three-day summit explored ways to promote China-LAC trade and investment, boost the transformation and upgrade of pragmatic partnership, and fulfill higher-level joint development and mutually beneficial cooperation. The issues covered infrastructure, finance, global value chains, and service trade.

A total of 421exhibitors from 44 countries and territories including 19 Latin American countries showcased their products at the 20,000 square meters China-LAC Trade Exhibition, which encompasses China-LAC Cooperation & Key Enterprise Hall, Latin American National Pavilion & Feature Hall, China-LAC Economic & Trade Hall, and China-LAC Commodity Area.

Meanwhile, some sideline events were also held including China-LAC roundtable meeting on trade promotion agencies and chambers of commerce and industry, a B2B match-making meeting between Chinese and Latin American enterprises, China-LAC football cooperation forum, etc.

Initiated by the China Council for the Promotion of International Trade (CCPIT) in 2007 as the first comprehensive conference of its kind, the China-LAC Business Summit is held annually in China and LAC countries on a rotating basis. Up to now, 11 summits have been convened in China, Chile, Colombia, Peru, Costa Rica, Mexico and Uruguay.

CCPIT co-sponsors the event along with the Guangdong Provincial Government, People's Bank of China, and Inter-American Development Bank (IDB). The China Chamber of International Commerce and Zhuhai government are the organizers.

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