China and Latin American countries stepped up efforts to increase investment and trade cooperation at the inaugural Shanghai International Economic and Trade Cooperation and Culture Exchange Forum on Thursday.
Around 100 international guests attended the event in the east China metropolis. Sponsored by the China Association of Trade in Services and co-organized by local media outlet Shanghai Spotlight, the forum focused on emerging markets, including Latin America.
A dedicated investment promotion session of the forum featured presentations from Argentina, Chile, Uruguay and the Dominican Republic.
"We are building our Chamber of Commerce. We have a great agenda for this year to promote in all the provinces that we cover in our jurisdiction like Jiangxi, Jiangsu," said Carlos Mendieta, Consul General of the Dominican Republic in Shanghai.
"There are many opportunities in Latin America. So, it's more on understanding of the local cultural traditions, business practices, trade negotiations and the rules governing cross-border trade," said Antonio Basilio, director of the APEC Business Advisory Council (ABAC) International Secretariat.
"I believe that through cross-cultural storytelling and bilingual platforms and cultural discussion we encourage participation, we encourage mutual respect and we attempt to bring Shanghai and China to a wider international audience," said Alex Butler, general manager of Spotlight Matrix Media which runs Shanghai Spotlight.
China, Latin America boost trade cooperation at new forum
China's Minister of Commerce Wang Wentao outlined the key priorities of the 32nd Asia-Pacific Economic Cooperation (APEC) Ministers Responsible for Trade Meeting, which opened on Friday in Suzhou, East China's Jiangsu province.
In an interview with CGTN ahead of the two-day meeting, Wang said free trade, digital cooperation and green economy are high on the agenda of the meeting.
"The key areas include advancing regional economic integration and the Free Trade Area of the Asia-Pacific, supporting the World Trade Organization (WTO) in strengthening digital cooperation and developing green economy. At present, the international situation is marked by intertwined turbulence and chaos, with intensified geopolitical instability. The rise of unilateralism and protectionism poses serious challenges to the international economic and trade order, disrupting global and Asia-Pacific development. Against this backdrop, all parties have higher expectations for this trade ministers' meeting, hoping that it can build consensus and deliver outcomes," Wang said.
This year marks China's third time hosting the APEC meetings and the 35th anniversary of its membership.
By 2025, China had become the largest trading partner of 13 APEC economies. Trade between China and APEC economies reached 3.7 trillion U.S. dollars, accounting for 57.8 percent of China's total foreign trade.
China has signed 24 free trade agreements or economic and trade arrangements with 31 countries and regions, including 15 APEC economies. In recent years, China has also completed upgrades of free trade agreements with APEC economies such as Singapore and Peru.
The minister said that China has always been a firm supporter and an important contributor to APEC.
"We have actively shared our vast market and development opportunities with all parties. China's door to the world will only open wider and wider. Facing the common challenges, China will continue to fulfill its responsibilities as a major country, further deepen reform, expand high-standard opening-up, and continue to provide new opportunities for the Asia-Pacific region and the world with its new achievements in Chinese modernization," the minister said.
China's Commerce Minister outlines priorities for 32nd APEC trade ministers' meeting
