BEIJING Ė China hopes to take its economic relations with Latin America to a new level as its president is set to begin an official tour of Ecuador, Peru and Chile.
During his tour, between Nov. 17-23, Xi Jinping will meet with presidents of the three countries and sign two separate sets of cooperation agreements, including economic ones, that reinforce important trade links and investment between the two sides.
ďThe bilateral relationship is gaining momentum,Ē said the Vice Minister of Foreign Affairs Wang Chao on Thursday, adding that comprehensive cooperation between the region and Beijing will continue to deepen.
This will be Xiís third visit to Latin America since he came to power and is focused on countries of the Pacific rim with which China maintains major economic and political ties.
Chinaís economic relationship with the region has been traditionally dominated by Latin American export commodities, such as oil and minerals, although food exports too, have seen significant development.
Latin America has long-insisted on investments in the industrial and infrastructure sector, which will also help Chinese companies to secure a global presence.
Xi will begin his tour in Ecuador where he will sign agreements on economic (including productive capacity), cultural and legal cooperation, said Wang at a press conference.
China is Peruís largest trading partner and President Pedro Pablo Kuczynski, who visited China in September in his first visit abroad since assuming presidency, will sign agreements in mining, energy, infrastructure and finance sectors with Xi.
The state visit to Chile will be Xiís first visit as president and where he will sign agreements covering the economic, trade and communication sectors with his Chilean counterpart Michelle Bachelet.
Chao stressed Beijing has a positive vision for Latin America and the Caribbean despite recent challenges posed by a fall in raw material prices and a weak global economy.