China and Latin America coming closer in Zhuhai

Opportunities for connectivity, communication, and trade with Latin American and Caribbean countries will be presented at the first China-Latin America & Caribbean International Exposition from Nov 9 to 11 in Zhuhai.

With economic and trade cooperation at its core, the first-of-its-kind fair is to be held at the International Convention & Exhibition Center in Shizimen Central Business District of the Hengqin Free Trade Zone.

Themed "Bosom Friends Make Distance Disappear," the expo will bring traders together at its 30,000-sq-m exhibition area for technology exchange, business talks, and product displays in services, investment, finance, and tourism, among other fields.

Scheduled events include cooperation forums, business summits, a product trade fair, investment networking, and cultural exchanges.

Up to 500 enterprises, including 250 from overseas and 188 from within China are expected to exhibit. Hong Kong will put 75 of its most representative businesses on display, and 25 Macao leading firms should take part. The scope of the exhibition will be extended with participation of other competitive international companies that have trade ties with Latin America.

According to the organizing committee, 26 of 33 countries in Latin America will be represented by firms and business associations. They include Haiti, the Dominican Republic, Salvador, Honduras, and Guatemala which do not have diplomatic relations with China. Ten Latin American countries will be displayed in national pavilions with four provinces and states in the region making a group presentation.

China-Latin America Economic & Trade Cooperation Park [Photo courtesy Zhuhai Daily]

A total of 40,000 visitors have registered for the three-day event -- opening and business day on Nov 9 and public days on Nov 10-11.

The 15,000-sq-m Latin America Specialty Exhibition Area will mount a comprehensive display of agricultural, health and medical, mineral resources, and cultural tourism products and services. The area will include the Main Guest National Pavilion.

The China-LAC Cooperation Exhibition Area will occupy 5,000 sq m for demonstrations of Latin American economic and trade achievements by key domestic enterprises outside Guangdong.

Leading businesses from Zhuhai, Hong Kong, and Macao will be featured at the 10,000-sq-m dedicated area for the Guangdong-Hong Kong-Macao Greater Bay Area. Similar cooperation projects will also be spotlighted. In addition, the exhibition place contains the 1,000-sq-m China National Pavilion.

High-profile exhibitors include Sociedad Química y Minerva de Chile (SQM), a Chilean international chemical company; Copa Airlines, the flag carrier of Panama; China National Offshore Oil Corp (CNOOC), the largest offshore oil & gas producer in China; and China National Petroleum Corp (CNPC), the world’s 3rd largest oil company.

Also on the exhibition list are Aviation Industry Corp of China (AVIC), a state-owned aerospace and defense company; CRRC Corp Ltd, the world’s largest supplier of rail transit equipment; China National Nuclear Corp (CNNC), a large state-owned enterprise under direct management of the central government; ZTE Corp, a global leader in telecommunications and information technology; and Tidfore Heavy Industry Group, an innovative enterprise involved in advanced equipment manufacture and systems.

The exposition will also mark the debut of the 2.5-billion-yuan ($370 million) China-Latin America Economic & Trade Cooperation Park. The Hengqin project with a construction area of 244,000 sq m will be unveiled on Nov 9; its first-phase 35,000-sq-m main structure will be inspected and is expected to envision how the entire facility, once completed, will facilitate bilateral cultural communication, tourism exchange, cross-border e-business, and economic, trade and modern business services.

According to a project head, the park will allow a corporate presence after becoming operational by the end of the year.

In addition, government officials revealed before the expo that Hengqin New Area will launch an array of favorable investment policies to support the development of Latin America enterprises with provisions covering investment convenience, financial and tax backing, and platform services.

Official statistics show that with bilateral trade value soaring over the past 10 years to the $216.5 billion mark in 2016, China has become the third-biggest source of investment for Latin American countries, and Latin America is China's second-largest overseas investment destination.

The expo is a pioneering step approved by the China Council for the Promotion of International Trade (CCPIT) as a state-supported event. The China Chamber of International Commerce is sponsoring the expo with organizing responsibilities shared by the Department of Commerce of Guangdong Province, Zhuhai government, CCPIT Guangzhou Committee, and China (Guangdong) Pilot Free Trade Zone (FTZ) (Hengqin Area of Zhuhai. Zhuhai's Huafa Group organizes the exhibition.

The groundbreaking effort is being aided by powerhouses of the Greater Bay Area, and trade development between China and Latin America can be expected to seek a new destiny, said a city official.