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(DOC) China

By Audrey Harris,2014-07-22 02:50
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China

    China

    Financialcooperationbenefits ;ChiandLatinAmerica

    ;A一薹

    ;xiJinping’supcomingvisitstoCuba,

    ;UruguayandChile.Xiwillvisitthethree ;countriesbetweenJune4and13. ;“Xi’svisitswillbeofgreatimpor-

    ;tanceinfurtherpromotingeconomic ;andfinancialcooperationbetween ;Chinaandthesethreecountries,’’Chen

    ;said.

    ;AsoneofChina’smostimpor—

    ;tantbanksforforeigninvestmentand ;financing,theCDBhasestablishedre

    ;lationswithfortyregionalandgovern

    ;mentalfinancialinstitutionsinLatin ;America.includingtheInteAmerican

    ;DevelopmentBankandtheCorpora

    ;cionAndinadeFomento

    ;Cuba,UruguayandChilearesome ;oftheCDB’smostimportantpartners,

    ;andtheCDB’scooperationwiththose

    ;countrieshasaidedtheirsocialandeco

    ;nomicdevelopment,Chensaid. ;AccordingtoChen,theCDB

    ;hasextendedUS$750millioninloans ;tothethreenationsuntiltheendof ;Marchthisyear.

    ;q-heseloansarebeingusedtocre

    ;ateprogramsthatwillimprovethelive

    ;lihoodsofthecountries’citizens,Chen

    ;said.

    ;LoansinCubaarebeingusedto ;improvepublicmedicalservices,ac

    ;cordingtoChen.

    ;Anagreementsignedbetweenthe ;CDBandacommercialbankinUru

    ;guaywillprovideUruguaywith10mil

    ;lionU.S.dollarsincreditloans,which ;willbeusedtosupportthedevelopment ;ofsmallandmediumsizedcompanies

;inthecountry

    ;InChile.theCDBhasworked

    ;withlocalbankstograntloansformin

    ;lng,forestryandagricultureprograms. ;TheCDBhasalsoprovidedfinancial ;servicesforcompaniesinChile. ;“Thegreatpotentialforcoopera—

    ;tionbetweenChinaandLatinAmerica ;intradehasalsoprovidedgreatoppo~ ;tunitiesforlongterminvestmentand

    ;financing,”saidChen.

    ;HeaddedthattheCDBwillcon

    ;tinuetodeepenitscooperationwith ;Cuba,UruguayandChile,aswellas ;otherLatinAmericancountries. ;Thebankwillworkwiththese

    ;countriestopromotetheirsocialand ;economicdevelopmentbyfocusingon ;theenergy,agricultureandforestrysec

    ;tors,Chensaid.

    ;InadditiontovisitingLatin

    ;Americancountries,Xiwillalsovisit

    ;Italyandattendaceremonymarking ;the150thanniversaryofItaly’sunifica—

    ;ChinatobeLatinAmerica,s

    ;2ndlargesttradepartnerin2015 ;atchina

    ;America’s

    ;partneras

    ;UNEco

    ;nomicCommissionforLatinAmerica ;andtheCaribbeanfECLAC)saidon ;September8.

    ;OsvaldoKacef,directorof

    ;ECLAC’sEconomicDevelopment

    ;Division,saidthecurrentChinaLatin

    ;Americatradevolumehasalready ;reachedthatofEurope.

    ;“Giventheuncertaintyoftheeco—

    ;nomicsituationinEurope,Chinaisin ;theprocessof...becomingthesecond ;s

    ;largesttradepartnerofLatinAmerica,’’

    ;hesaid.

;ECLACExecutiveSecretaryAli

    ;ciaBarcenasaidtheworld’semerging

    ;marketsaregraduallyreducingtheir ;dependenceonindustrializedcountries ;andseekingnewrelationswithChina. ;OsvaldoRosales,directorof

    ;ECLAC’sInternationalTradeand

    ;IntegrationDivision,saidLatinAmeri

    ;cancountriesshouldadoptactivetrade ;andinvestmentpoliciestobetterdo ;businesswithChina.

    ;“Investmentsinnaturalresources

    ;andindustrialsectorstoLatinAmerica ;increasedlastyear.”Rosalessaid.

    ;HestressedChina’s1argeinterna-

    ;tionalreserves,andtheglobaleconomic ;crisismeanttheregionshoulddraw ;moreChineseinvestmentsinthecom

    ;mgyears?

    ;LatinAmericannationsshouldpro

    ;ducemorevalueaddedproductsinstead ;ofmerelyexportingrawmaterials,and

    ;thiscouldgeneratemoreiobs,incomes ;andtechnologicalinnovations,hesaid. ;Theaverageeconomicgrowthin

    ;LatinAmericaandtheCaribbeanis ;predictedtostay4.7percentthisyearand ;dropto4.1percentin2012.@

    ;

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