Chinese FM calls for building China-LAC inter-connectivity on Belt and Road

China is willing to work with Latin America and Caribbean States (LAC) to build trans-oceanic and maritime inter-connectivity in the construction of the Silk Road Economic Belt and the 21st Century Maritime Silk Road, Foreign Minister Wang Yi has said.

Chinese Foreign Minister Wang Yi (R), Chilean Foreign Minister Heraldo Munoz (C) and Foreign Minister of El Salvador Hugo Martinez attend a press conference in Santiago, Chile, Jan. 22, 2018. [Photo/Xinhua]

Addressing the opening ceremony of the second ministerial meeting for China and the Community of Latin American and Caribbean States (CELAC) Forum in Santiago on Monday, Wang said China will actively participate in the construction of transport systems, infrastructure, and energy facilities in the LAC.

China is willing to sign cooperation deals within the framework of the Belt and Road Initiative with more countries in the region and to promote the launch of more projects to yield fruitful results of cooperation between the two sides, Wang added.

Proposed in 2013, the Belt and Road Initiative aims to achieve policy, infrastructure, trade, financial and people-to-people connectivity along and beyond ancient Silk Road trade routes, thus building a new platform for international cooperation to create new drivers of growth.

The foreign minister pointed out that China and the LAC share a solid foundation for building the Belt and Road together, with China-LAC relations developing rapidly, China-LAC cooperation upgrading constantly as well as the increasing deepening of integration of interests between the two sides.

China has signed bilateral free trade agreements with Chile, Peru and Costa Rica and has signed production capacity cooperation deals with multiple regional countries, said Wang.

China and the LAC have also enhanced financial cooperation in various forms, said Wang, noting that arrangement has been made for over 17 billion U.S. dollars as part of a 35-billion-dollar worth of financing package.

A special fund of 30 billion dollars for production capacity cooperation has also been launched, he added.

Wang said China will facilitate trade and investment with regional countries and will do its best to cultivate the China-LAC market of mutual benefit and openness for 2 billion people.

Wang also called on China and the LAC to build independent and advanced industries, accelerate production capacity cooperation and jointly establish the three major channels of logistics, electric power generation and information.

In this regard, the private sectors, societies and the governments of the two sides should make joint efforts, enhance financing channels of funds, loans and insurance, and support the LAC in building independent and diversified industrial systems, said Wang.

China is willing to align its scientific and technological innovative action plan with the LAC and is willing to support medium-sized and small countries of the LAC in building capacities of combating climate change, said the foreign minister.

The two sides can enhance cooperation in emerging areas of aerospace, renewable energy, artificial intelligence, big data, the Internet and biomedicine, he added.

While noting that China and the LAC are developing countries and emerging economies, Wang said China is also willing to strengthen communication in governance and expand exchanges among political parties, local governments, media outlets, think tanks, cultures and youths.

With construction of the Belt and Road as an opportunity, China is willing to work with the LAC to build trans-oceanic inter-connectivity between China and the LAC, to promote optimization and upgrading of China-LAC cooperation, to innovate development, and to develop a new situation of cooperation in broader areas, with a better structure, with more energic driving forces and with a higher quality, Wang said.