Chinese President Xi Jinping unveiled sweeping plans to deepen cooperation with Latin America and Caribbean (LAC) nations during the fourth China-CELAC Forum ministerial meeting in Beijing, cementing China's role as a key partner through major financial commitments and cultural initiatives.
Addressing leaders including Brazil's Luiz Inácio Lula da Silva and Chile's Gabriel Boric, Xi outlined five cooperation programs spanning technology, security, and cultural exchange. Highlights include:
A $9 billion credit line for regional development projects
Visa-free entry for citizens of five LAC nations starting 2025
3,500 fully funded scholarships for LAC students
Expansion of Belt and Road infrastructure projects
Trade between China and LAC countries reached a record $500 billion in 2024, with over 200 infrastructure projects creating 1+ million jobs since 2015. The new 'Latin American and Caribbean Arts Season' program aims to strengthen cultural ties through film festivals and heritage preservation projects.
Xi emphasized China's commitment to South-South cooperation, stating: 'Our community exhibits enduring vitality through equal partnerships and shared development.' The agreements signal China's growing economic diplomacy in the Global South amid shifting global trade dynamics.
