President Xi Jinping delivered a speech to inaugurate a ministerial meeting of the China-Celac Forum, a cooperation platform between China and the countries of Latin America and the Caribbean.
China It will offer credit lines for just under US $ 10,000 million to Latin American countries to support development, but in Yuan, its top leader said on Tuesday to a summit of Latin American and Caribbean officials in Beijing.
President Xi Jinping Pronounced a speech to inaugurate a ministerial meeting of the China-Celac foruma cooperation platform between China and the countries of Latin America and the Caribbean. The credit linecalled in Yuan, seems an impulse to Internationalize further the Chinese currencyat a time when China redoubles its efforts to deepen strategic and economic ties with the Latin American region.
During the opening version of the Chinese-Celac forum in 2015, Beijing offered US $ 20,000 million in credits to help Chinese companies invest in infrastructure projects throughout the continent. “China is making many more yuan-based agreements like this, in particular credits exchange agreements that facilitate the lending country to make transactions in RMB instead of USD,” said Eric Orlander, co-founder of the Chinese Global Project.
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China anticipated a visa exemption policy
China will also apply a visa exemption policy for five Latin American countries and the Caribbean, XI said without detailing what countries it was. The visa exemption policy will be extended to more countries in due time. The trade between China and Latin America first exceeded US $ 500,000 million last year, XI said. China’s trade with Latin America has multiplied since US $ 12,000 million in 2000.
XI told the Latin American and Caribbean authorities that it was a great pleasure to gather “old and new” Friends and reinforced that China supports the countries of Latin America and the Caribbean to expand their influence on the multilateral field.
The China-Celac forum has been a vehicle to deepen the dialogue between China and the trade block, Investment and infrastructure cooperation within the framework of the Strip and the Route of China.
Source: Ambito
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