China-Latin America trade reaches $61.66 billion with free trade agreements
China has signed five free trade agreements with LAC nations: Chile, Peru, Costa Rica, Ecuador, and Nicaragua so far.
While, ongoing negotiations with Honduras and Salvador are progressing. China is now the region's second-largest trading partner.
Look at this recent article from China Daily news reporting ..... China has successively signed and brought into force five free trade agreements in LAC with Chile, Peru, Costa Rica, Ecuador, and Nicaragua. China is now the region's second-largest trading partner. with bilateral trade maintaining rapid growth for seven consecutive years.
In the past 20 years, the free trade agreements between China and LAC countries have generated fruitful outcomes, boosting growth in trade and benefiting enterprises and people in China and the LAC.
Since 2005, China has successively signed and brought into force five free trade agreements in LAC with Chile, Peru, Costa Rica, Ecuador, and Nicaragua. Among these, the free trade agreements with Ecuador and Nicaragua were concluded during the 14th Five-Year Plan period (2021–2025).
China is expediting free trade agreement negotiations with Honduras, and the two have reached an early harvest arrangement. Negotiations with Salvador are gathering pace, and active efforts are being made to negotiate and conclude free trade agreements with more LAC countries.
The free trade agreements between China and LAC countries reflect the standards required of high-level free trade agreements. The free trade agreements signed with Chile and Peru have both been upgraded in recent years.
The China-Nicaragua free trade agreement, signed in August 2023, marks China's first instance of opening up cross-border trade in services and investment through a negative list approach.
China's increasingly open market is bound to present more opportunities to LAC countries. Standing at a new historical starting point, China and LAC countries should fully exploit their respective strengths and continuously strengthen free trade cooperation to ensure that free trade agreements can deliver more benefits to the people.
The two sides should strive for solid progress in building a China-LAC community with a shared future, and steer the ship of China-LAC friendship toward an even brighter future. .....See more from China Daily here
With China continuing to open its market, certainly create more business and trade opportunities to LAC countries, to the world as well. Meanwhile Chinese Importers are the key players to contact for exporters from LAC countries, and Europe as well.
Together, China and LAC countries, both sides, importantly, to strengthen free trade cooperation, make sure that free trade agreements can deliver more benefits to the exporters, producers, farmers, and consumers, enrich China market and prosperous LAC trade.
