Zhuhai to tighten bonds with Latin American states

As a focal point in China's relations with the Latin American and Caribbean (LAC) region, Zhuhai was selected on Dec 1 to host next year's 12th China-LAC Business Summit, its debut in that role.

The announcement was made during this year's summit which opened on Nov 30 in Punta del Este, Uruguay and ran through Dec 2. Tabaré Vázquez, president of Uruguay, and Ma Peihua, vice chairman of the National Committee of the Chinese People's Political Consultative Conference (CPPCC), attended the opening ceremony.

An event flag was handed by Uruguay Foreign Minister Rodolfo Nin Novoa to Zhuhai Vice Mayor Zhu Qingqiao in the presence of Chen Zhou, vice-chairman of the China Council for the Promotion of International Trade (CCPIT).

The China-LAC summit, a major promotion of economic and trade cooperation between China and Latin America and Caribbean states, was initiated in 2007. Put on by the CCPIT and Inter-American Development Bank, it's held annually in China and LAC countries on a rotating basis.

Handover ceremony affirming Zhuhai as host of the next China-LAC Business Summit [Photo courtesy Zhuhai Daily]

The event focuses on broader international economic and trade development trends. Political leaders, experts, representatives of international organizations and financial institutions, as well as entrepreneurs from China and LAC countries discuss investment policies and potential markets for win-win cooperation.

In addition to a plenary session, the agenda often includes a China-LAC industrial cooperation-trade exhibition, round-table meeting for trade promotion, seminars, and business matchmaking. 

At this year's event, a representative from the Brazilian branch of Gree Electric Appliances, a major Chinese household appliance manufacturer, shared Gree's experiences in LAC markets at a summit forum. Meanwhile, other Zhuhai delegates, including those from the China (Guangdong) Pilot Free Trade Zone (FTZ) Hengqin Area of Zhuhai, presented many trade opportunities that could prove lucrative in Zhuhai's favorable investment environment as well as equally promising industrial prospects.

Zhuhai held the country's first China-Latin America & Caribbean International Exposition from Nov 9 to 11, which attracted more than 250 Latin American enterprises. China-Latin America Economic & Trade Cooperation Park, funded with 2.5 billion yuan ($370 million) and which promotes bilateral exchanges in culture, tourism, cross-border trade, and modern business services, was unveiled at the event.

The Guangdong city adjacent to Macao and Hong Kong, soon to be connected by the world's longest sea-spanning bridge, is becoming a bridge itself in the China-LAC relationship. The Hong Kong-Zhuhai-Macao Bridge is nearing completion thanks to the support of the national and city governments and Zhuhai's rich business resources, a government official claimed.