Celebration of the 4th China-Latin America Business Summit

Mr.Wan Jifei, Chairman of CCPIT is giving a speech on the opening ceremony

Mr.Luis Alberto Moreno, President of Inter-American Development Bank is giving a speech on the opening ceremony

October 21, 2010, the 4th China-LAC Business Summit was inaugurated in the city of Chengdu, Sichuan Province. H.E. Bai Lichen, Vice Chairman of National Committee of the Chinese People’s Political Consultative Conference (CPPCC) delivered the keynote speech at the opening ceremony.

China and Latin American & Caribbean regions have been actively building up strategic mutual trust and expanding cooperation, while maintaining constant communication and coordination, thus to safeguard the common interest of developing countries together. Vice Chairman Bai made such remarks during his keynote speech. He pointed out that both sides have been enjoying rapid development of economic and trade cooperation, and the structure of the bilateral trading is becoming increasingly rational, with more dynamic two-way investment being bolstered and positive results being gained, especially in the fields of infrastructure and finance. Vice Chairman Bai concluded his speech with encouraging relevant stakeholders to spur the facilitation of trade and investment between both sides, as well as to adequately settle trade disputes and thus to promote stable development of China-Latin America economic and trade relationship, including concrete collaboration among the enterprises.

Wan Jifei, Chairman of CCPIT also delivered an important speech, in which he set a high value on the progress of China-Latin America trade and investment cooperation. On behalf of Chinese business circle, Chairman Wan brought forward the following three critical suggestions: 1) To enlarge the scale of China-Latin America trading, and adjust the bilateral trading structure; 2) To enhance international coordination and thus build up a stable environment for China-Latin America economic development; 3) To push forward China-Latin America collaboration in finance and facilitate bilateral economic and trade cooperation.

Luis Alberto Moreno, President of Inter-American Development Bank first expressed sincere thanks to CCPIT, Sichuan Provincial People’s Government and the People’s Bank of China for their great efforts and contributions to ensure the success of the Summit. He spoke highly of Chengdu’s historic position in the civilization course of human society. Moreno highlighted the outstanding achievements of the newly rising regions like Asia and Latin America & Caribbean in recent years, especially with their critical roles being played during the global financial crisis to balance the world economic development. We should utilize our advantage in an all-round and deeper way, Moreno added, in both traditional and newly booming industries including natural resources, new energy and service trade. By working together to deepen the South-South Cooperation, the goal of sustainable development will be realized.

The 4th China-Latin America Business Summit was co-hosted by China Council for the Promotion of International Trade (CCPIT), the People’s Bank of China (PBC), Sichuan Provincial People’s Government and Inter-American Development Bank (IDB), with the theme of Inter-Regional Cooperation and Sustainable Growth. Other foreign dignitaries attending the opening ceremony included Adina Mercedes Bastidas, former Vice-President of Venezuela; Anabel González Campabadal, Minister of Foreign Trade of Costa Rica; Miguel Saiz, governor of Rio Negro Province of Argentina; Oscar Ivan Zuluaga, former Minister of Finance and Public Credit of Colombia, etc., altogether 11 political leaders from Latin American and Caribbean countries. Besides, distinguished guests from Latin American and Caribbean countries’ embassies to China also participated in the ceremony, including 9 ambassadors, namely from Mexico, Argentina, Colombia and Jamaica, etc.

The Summit welcomed over 400 Latin American enterprisers from 34 countries such as Argentina, Mexico, Brazil and Costa Rica, and over 600 Chinese enterprisers from more than 20 provinces, as well as representatives of relevant international organizations and multi-lateral financial institutions such as United Nations Economic Commission for Latin America and the Caribbean and Asian Development Bank. Enterprisers from China and Latin America devoted full discussions on the commonly-concerned topics such as tackling the financial crisis, realize the sustainable development, trading & financing, collaborations among SMEs, etc. On the second day of the Summit, one-on-one match-making meetings covered tremendous potential opportunities of cooperation in key sections like finance, infrastructure, energy and mineral products, service trade, etc.

During the Summit, IDB signed cooperation agreements respectively with CCPIT, the Export-Import Bank of China and China Minsheng Banking Corp., Ltd., with the aim of providing information, trade financing and other supporting services for Chinese enterprises while developing their market in Latin America.