Latin American countries have signed 15 Memorandums of Understanding (MOUs) with China at a bilateral business summit to strengthen trade relations and friendship, organizers have announced. The two-day 9th China-LAC Business Summit has attracted officials and nearly 2,000 business leaders from China and 24 Latin American and Caribbean countries to discuss cooperation in technology, innovation, energy and agriculture.
"Within the framework of this summit, we were able to sign 15 MOUs with different agencies and producers from China and Latin America. This will be a big help in strengthening relations," said Mexican Ambassador Sergio Ley. Colombia, Uruguay, Cuba and Peru are among the LAC countries signing memorandum agreements with the Asian giant, said Mario Chacon, head of the Unit for the Promotion of International Investment and Business of ProMexico, a federal organization.
In regards to Mexico, new routes in new areas such as digital and renewable energy were opened up and explored, Chacon said. Chacon believes this summit, which wrapped up on Wednesday, has fulfilled many expectations and that the participants were "very enthusiastic with the possibilities that opens up trade to the Pacific area and especially with China, the world trade giant." The summit was held in an exhibition area of 12,000 square meters in the largest city of the Mexican state of Jalisco with over 300 stands from 26 countries offering all sorts of products.
It would be "the start of a relationship of trust and friendship between business people from China and Latin American," Minister for Economic Development in the state of Jalisco, Jose Palacios Jimenez, said. China is Latin America's second-largest source of imports, and the third largest destination for exports, according to the Economic Commission for Latin America and the Caribbean (ECLAC).
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