Full text of China's Policy Paper on Latin America and the Caribbean(2)

- China and Latin American and Caribbean countries share a global responsibility in promoting international cooperation, equity and justice. China is ready to strengthen communication and cooperation with Latin American and Caribbean countries within the international multilateral mechanisms, and jointly safeguard the international order and system with the purposes and principles of the UN Charter as its core. China will advance multi-polarization, promote democracy and the rule of law in international relations and enhance the representation and voice of developing countries. China is ready to deepen South-South cooperation with Latin American and Caribbean countries, consolidate multilateral trading systems, promote global governance reform and build an open world economic system.

- To promote complementary development of collective and bilateral cooperation is the strategic path for developing China-Latin America and the Caribbean relations. China appreciates and supports the important role played by regional and sub-regional organizations of Latin America and the Caribbean in regional and international affairs. Upholding the principle of equality, seeking mutual benefit and "win-win" results with flexible and pragmatic ways of collaboration and in a spirit of openness and inclusiveness, China will promote collective cooperation with Latin America and the Caribbean mainly through the platform of China-CELAC Forum, and strengthen dialogue and cooperation with relevant sub-regional organizations and multilateral financial institutions, so as to create a balanced, all-round network of collective cooperation between China and Latin America and the Caribbean.

Part IV Further Strengthening Cooperation in All Fields

1. In the Political Field

(1) High-Level Exchanges

China wishes to give full play to the guiding role of high-level exchanges, maintain exchanges of visits and meetings at multilateral international events between leaders of China and Latin America and the Caribbean, and strengthen communication on bilateral relations and major issues of common concern.

(2) Exchanges of Experience on Governance

The two sides should draw lessons and wisdom from their historical traditions and development practices, and further strengthen exchanges of experience on governance and development, so as to boost common development. Latin American and Caribbean countries are welcome to take an active part in the International Development Knowledge Center established by China.

(3) Inter-governmental Dialogue and Consultation Mechanisms

Efforts will be made to give full play to the role of mechanisms such as the high-level coordination and cooperation committee, high-level mixed committee, inter-governmental standing committee, strategic dialogue, mixed committee on economy and trade, and political consultation, and further improve the relevant mechanisms to enhance inter-governmental dialogue and cooperation.

(4) Exchanges Between Legislatures

On the basis of respecting each other, deepening understanding and promoting cooperation, the National People' s Congress of China wishes to strengthen multi-level, multi-channel friendly exchanges with national parliaments and regional and sub-regional parliamentary organizations in Latin America and the Caribbean through high-level exchanges and exchanges at other levels such as special committees, friendship groups and offices.

(5) Exchanges Between Political Parties

On the basis of independence, full equality, mutual respect and non-interference in each other' s internal affairs, the Communist Party of China wishes to strengthen exchanges and cooperation with political parties and organizations of Latin American and Caribbean countries, so as to further enhance mutual understanding and trust.

(6) Local Exchanges

Active support will be given to local governments on both sides to conduct friendly exchanges and cooperation, share experience in local development and governance, and promote cooperation among local governments in relevant international organizations.

2. In the Economic Field

(1) Trade

Efforts will be made to tap into trade potentials between the two sides, promote the trade of specialty products, goods with competitive advantages or high added-value, and technology-intensive products, and strengthen trade in services and e-commerce cooperation between China and Latin American and Caribbean countries. Based on the principle of reciprocity and mutual benefit, China will discuss with Latin American and Caribbean countries the establishment of long-term and stable trade relations and various trade facilitation arrangements including the FTA. Trade frictions will be properly handled to promote sound and balanced development and structural diversification of trade between the two sides.

(2) Industrial Investment and Capacity Cooperation

China will encourage its enterprises to expand and optimize investment in Latin American and Caribbean countries on the basis of equality and mutual benefit. China wishes to sign more agreements on investment protection, avoidance of double taxation and tax evasion with Latin American and Caribbean countries, so as to create favorable environment and conditions for investment cooperation between enterprises of both sides.

Upholding the principle of business-led and market-oriented cooperation for mutual economic and social benefits, China will support the efforts of Chinese enterprises to invest and start business in Latin American and Caribbean countries, and align high-quality capacity and advantageous equipment of China with the needs of Latin American and Caribbean countries, in order to help the countries in need to enhance their capacity for independent development.

(3) Financial Cooperation

China will support its financial institutions to strengthen business exchanges and cooperation with national, regional and international financial institutions in Latin American and Caribbean countries and further improve the construction of branch networks in the region. Efforts will be made to enhance dialogue and cooperation between the central banks and financial regulatory authorities of the two sides, expand cross-border local currency settlement, discuss RMB clearing arrangements, and steadily promote monetary cooperation. On the basis of bilateral financial cooperation, and giving full play to the role of China-Latin America Cooperation Fund, concessional loans, special loans for Chinese-Latin American infrastructure, China-Latin American Production Capacity Cooperation Investment Fund, and relevant financing arrangements between China and Caribbean countries, China will actively explore cooperation forms including insurance and financial lease, continuously expand cooperation with regional financial institutions in Latin America and the Caribbean, and support cooperation in key areas and major projects between the two sides.

(4) Energy and Resources Cooperation

China wishes to expand and deepen cooperation in the fields of energy and resources with Latin American and Caribbean countries based on the principle of win-win cooperation and sustainable development. Efforts will be made to bring cooperation to upstream business such as exploration and development, so as to consolidate the foundation for cooperation and expand resources potentials; and at the same time, cooperation will be extended to downstream and supporting industries such as smelting, processing, logistics trade and equipment manufacturing, so as to improve added value of products. China is ready to actively explore with Latin American and Caribbean countries the establishment of mechanisms for long-term supply of energy and resources products and local currency pricing and settlement, to reduce the impact of external economic and financial risks.

(5) Infrastructure Cooperation

China will strengthen cooperation on technical consultation, construction and engineering, equipment manufacturing and operation management in the fields of transportation, trade logistics, storage facilities, information and communication technology, energy and power, water conservancy, housing and urban construction. China will support and encourage competent enterprises and financial institutions to actively participate in the planning and construction of logistics, power and information passages in Latin American and Caribbean countries, and actively explore new ways of cooperation, such as the Public-Private Partnership (PPP) model, so as to promote the connectivity of infrastructure in Latin America and the Caribbean. (mo