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Backgrounder: Key facts about China-LatAm ties

Xinhua, November 21, 2016 Adjust font size:

Chinese President Xi Jinping's week-long tour to Latin America promotes friendship and cooperation between China and the region and accelerates integration in the Asia-Pacific.

Xi's visit includes trips to Ecuador, Peru and Chile from Nov. 17 to 23 and attendance at the 24th Asia-Pacific Economic Cooperation (APEC) Economic Leaders' Meeting from Nov. 19 to 20 in Lima, Peru.

It is Xi's third visit to Latin America as president since he took office in 2013.

The following are some key facts about the relationship between China and Latin America:

In July 2014, Xi and leaders of Latin American and Caribbean countries held a summit in Brasilia, Brazil, during which both sides decided to establish the China-Latin America comprehensive cooperative partnership of equality, mutual benefit and common development.

In January 2015, the first ministerial meeting of the forum of China and the 33-member Community of Latin American and Caribbean States (CELAC) was held in Beijing. Xi attended the meeting and made an important speech.

During the meeting, China and the CELAC adopted a joint five-year plan calling for cooperation in a wide range of fields, from security to trade, investment, infrastructure, energy, agriculture, education, science and technology.

During the meeting, China also 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.

In 2015, the trade volume between China and Latin America reached 236.5 billion dollars, up more than 20-fold during the past decade, according to Chinese official statistics.

In 2016, China-Latin America relations have moved forward with the setup of new platforms such as the China-Latin America cultural exchange year and the forum of China-Latin America cooperation between local governments.

China has signed free trade agreements (FTAs) with several Latin American countries. In November 2005, China and Chile signed the FTA that entered into force in October 2006. In April 2009, Peru signed a comprehensive FTA with China. In 2010, Costa Rica signed an FTA with China.

Currently, China is the second-largest trade partner and third-largest investment source country of Latin America, while Latin America is China's seventh-largest trade partner, and important overseas investment destination. Endi