China, LatAm maintain "win-win" ties: Cuban newspaper

China and Latin America maintain "win-win" relations, which bolster bilateral cooperation in various fields, an article published in Cuba's official daily Granma on Monday said.

Their mutually beneficial relationship is based on Beijing's realization that "its development is closely tied to the progress of various emerging and developing countries, including those in Latin America and the Caribbean," the daily said.

Encouraged by the "advances in recent years" in its relationship with the region, as well as various bilateral agreements in different fields, China recently published its updated policy paper on Latin America and the Caribbean, the newspaper of the Cuban Communist Party said.

In the document, China pledges to generate better opportunities for both sides to carry out win-win cooperation, said Granma.

"Gone are the days when Latin America supplied raw materials and China sold products with little added value. The new scenario seeks to expand trade in high added-value and high-technology goods," said Granma.

"Today's panorama of economic exchange has changed so much that Chinese money is now invested in projects in infrastructure, transportation, industry, technological innovation, energy and electricity, among others, which, if well planned, could change the region's trade and productive matrix," it added.

China has invested in public works projects in Bolivia, Peru, Ecuador, Argentina, Brazil, Chile and Cuba, with which it has signed about a dozen accords "to bolster ties in biotechnology, renewable energy and industrial development" and other fields, reported Granma.

The daily cited a United Nations study that shows China will soon displace the European Union to become Latin America's second-largest trade partner, after the United States. Endi