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Chinese premier urges closer Sino-LatAm cooperation

(Xinhua)

16:19, June 27, 2012

Chinese Premier Wen Jiabao addresses a welcoming banquet hosted by Chilean President Sebastian Pinera in Santiago, capital of Chile, on June 26, 2012. (Xinhua/Yao Dawei)

SANTIAGO, June 26 (Xinhua) -- Chinese Premier Wen Jiabao urged closer ties between his country and Latin America and the Caribbean region here on Tuesday.

In a speech at the United Nations Economic Commission for Latin America and Caribbean (ECLAC), Wen called for the promotion of strategic cooperation, trade, and food security.

China and ECLAC countries should build on political mutual trust and deepen strategic cooperation, Wen said.

China proposes the establishment of a China-Latin America cooperation forum in order to elevate the platform for comprehensive cooperation, he said, adding that China is willing to set up a regular foreign ministers' dialogue mechanism and discuss the establishment of a regular meeting mechanism among Chinese and Latin American leaders.

Wen called for expanding common interests of China and Latin America, taking economic and trade cooperation as priority.

China and the ECLAC countries should strive toward the goal of increasing the two-way trade to 400 billion U.S. dollars in five years, said Wen.

Chinese financial institutions will allocate 5 billion dollars to initiate a China-Latin America cooperation fund for joint investment in cooperation projects in manufacturing, high and new technology and sustainable development, and the Chinese side will also initiate a 10-billion-dollar special loan to support infrastructure cooperation between the two sides, he said.

Moreover, China is ready to discuss and sign currency swap agreements with more ECLAC countries, said the Chinese leader.

Wen asked for the promotion of China-Latin America food security through agricultural cooperation.

China proposes to launch a forum for Chinese and Latin American agriculture ministers, a China-Latin America mechanism of emergency food reserves of half a million tons, and an agricultural cooperation and development special fund, he said.

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