Chinese Foreign Minister Wang Yi has proposed an unprecedented collaboration between China and Latin American and Caribbean (LAC) countries to create a shared market encompassing nearly two billion people. The ambitious vision was unveiled during the fourth ministerial meeting of the China-CELAC Forum in Beijing, marking a strategic effort to address global economic uncertainties.
Speaking as a member of the Political Bureau of the CPC Central Committee, Wang emphasized that such cooperation would 'provide a new engine for growth and open up opportunities for global prosperity.' The initiative builds on a decade of institutional development through the China-CELAC Forum, which has already strengthened trade and diplomatic ties across 33 LAC countries.
Wang highlighted China's commitment to high-level opening-up policies and sharing modernization opportunities amid what he described as 'accelerated global transformations.' Both sides aim to enhance multipolar world dynamics and democratize international relations through pragmatic collaboration in infrastructure, technology, and sustainable development.
With bilateral trade surpassing $450 billion in 2023 and China maintaining its position as LAC's second-largest trading partner, analysts suggest this new framework could reshape supply chains and investment flows. The proposal calls for expanding digital economy cooperation and green energy initiatives, reflecting shared climate commitments.
