Interview: Xi's LatAm tour highlights region's importance -- Venezuelan expert

Chinese President Xi Jinping's three-country tour in Latin America on Nov. 17-23 underscores the importance China attaches to its cooperation with the region, Venezuelan political analyst Vladimir Adrianza said.

Xi's state visits to Ecuador, Peru and Chile show that China is keen to further strengthen ties with Latin America, said Adrianza, who teaches at the Bolivarian Military University of Venezuela in Caracas.

"China has a long-term vision of its relationship with other states," said Adrianza, noting that the Asian giant has substantially boosted bilateral trade for mutual benefit.

China is now Latin America's second largest trading partner and the third largest source of investment, and Latin America is China's seventh largest trading partner, and important overseas investment destination.

China has pledged to work with Latin America to bring bilateral trade to 500 billion U.S. dollars and increase its investment in the region to 250 billion dollars by 2025.

Xi is visiting Ecuador, the first leg of his trip, where China is helping the country bolster its energy infrastructure through a variety of projects, including a major hydroelectric plant.

China has also become Ecuador's leading source of financing, with Chinese investment in Ecuador exceeding 10 billion dollars.

He will then travel to Peru to take part in the 24th Asia Pacific Economic Cooperation (APEC) Economic Leaders' Meeting, which will gather the leaders of the bloc's 21 member economies in Lima.

According to Adrianza, China's cooperation with countries such as Peru clearly reflects Beijing's policy of respect for sovereignty and non-intervention in the internal affairs of other countries.

"China's (foreign) policy is marked by a high level of cooperation, not meddling in (others') domestic matters," said Adrianza.

China has been Peru's largest trading partner, export market and source of import for years, and Peru has become one of the top destinations for Chinese investment in Latin America.

As the world's fastest growing economy and home to more than 1.3 billion people, China represents both an "excellent" development model for regional countries, and an attractive incentive, Adrianza said.

"Latin America has major natural resources, and needs a model of industrialization like the one that China has been developing," the expert said.

Xi's visit to Chile will boost China's bid to internationalize its currency, renminbi or the yuan, as Chile is a key partner in the cause, Adrianza said.

Last year, the first clearing bank for transactions in renminbi in South America was opened in Chile's capital, Santiago.

A stronger yuan would help strengthen the movement to democratize global financial agencies, Adrianza said.

A growing China-Latin American relationship can help promote "multilateral" global development, he added. Endi