Latest news with #China-CelacForum
RTHK
14-05-2025
- Business
- RTHK
Colombia formally joins Belt and Road Initiative
Colombia formally joins Belt and Road Initiative President Xi Jinping, and Latin American leaders, including Colombian President Gustavo Petro, right, arrive for a group photo session at the China-Celac Forum. Photo: Reuters Colombia formally agreed on Wednesday to join China's vast Belt and Road Initiative (BRI). China has surpassed the United States as the biggest trading partner of Brazil, Peru, Chile and other Latin American nations, and two-thirds of countries there have signed up to the BRI. On the sidelines of the China-Celac Forum in Beijing on Wednesday, Colombia became the latest country to join the massive global initiative. Xi said Colombia's formal accession to the BRI is an opportunity to upgrade bilateral cooperation between the two countries, Xinhua News Agency reported. Meanwhile, Colombia's foreign ministry hailed the agreement as a "historic step that opens up new opportunities for investment, technological cooperation, and sustainable development for both countries". The country's president Gustavo Petro – who took over in August 2022 – made his first trip to China as president in October 2023, upgrading to a strategic partnership two-way ties first established in 1980. (Additional reporting by AFP and Reuters)
RTHK
14-05-2025
- Business
- RTHK
China, Chile should boost cooperation: Xi
China, Chile should boost cooperation: Xi Gabriel Boric, bottom second left, is in Beijing for the fourth ministerial meeting of the China-Celac Forum. Photo: Reuters President Xi Jinping on Wednesday said China and Chile should enhance their comprehensive strategic partnership, during a meeting with his Chilean counterpart Gabriel Boric. Xi said the two countries should deepen cooperation in fields including agriculture, industrial investment, infrastructure and green minerals, according to Xinhua News Agency. The president also noted that China and Chile should create a model of common development between China and Latin American countries and deepen cooperation in multiple fields, including artificial intelligence and the digital economy. For his part, Boric said Chile is willing to work with Beijing to firmly safeguard multilateralism and the authority of the United Nations, insist on resolving differences through dialogue, and jointly uphold international fairness and justice. The two sides have also signed bilateral cooperation documents on the economy, publishing, and inspection and quarantine. Boric is in Beijing for the fourth ministerial meeting of the China-Celac Forum. (Additional reporting by Reuters)
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Business Standard
13-05-2025
- Business
- Business Standard
'No winners in tariff wars': Xi Jinping urges unity to secure global peace
Xi Jinping calls for global unity and criticises tariff wars at the China-Celac Forum as he unveils major cooperation plans with Latin America and the Caribbean amid US tensions New Delhi Chinese President Xi Jinping has urged nations to come together to safeguard global peace and stability, while criticising the United States (US) by stating that 'there are no winners in tariff wars'. His comments came during the opening of the fourth ministerial meeting of the China-Celac Forum in Beijing on Tuesday. Addressing leaders from Latin America and the Caribbean, Xi emphasised that bullying and hegemonic behaviour 'only leads to self-isolation'. His speech was his first public response following recent US-China trade discussions held over the weekend. 'The world is undergoing a century of rapid change, with multiple risks compounding one another. Only through solidarity and cooperation can countries maintain world peace and stability,' Xi said, as quoted by the South China Morning Post. The US will cut tariffs on Chinese goods from 145 per cent to 30 per cent, while China will reduce tariffs on US imports from 125 per cent to 10 per cent. Bessent described the negotiations as respectful and productive. China and Latin America: Shared vision for development Xi highlighted the commonalities between China and countries in Latin America and the Caribbean, describing them as significant members of the Global South. He stressed that development was an 'inherent right' of these nations, and that fairness and justice were shared values. China, he said, is prepared to collaborate with these countries in countering rising geopolitical tensions, bloc rivalries and the growing tide of unilateralism and protectionism. He unveiled five key cooperation programmes to be pursued over the next three years, encompassing global coordination, trade and infrastructure development, cultural exchanges and people-to-people engagement, the report said. 'We will work with [Latin American and Caribbean] countries to firmly safeguard the international system... and to speak with one voice in international and regional affairs,' Xi said. Credit, visas and infrastructure China will provide 66 billion yuan (about $9.14 billion) in credit to Latin American and Caribbean nations and boost law enforcement cooperation through training and equipment. It will also grant visa-free access to citizens of five countries. Xi highlighted that over 200 infrastructure projects under the Belt and Road Initiative (BRI) have created more than a million jobs. Trade has surged to over $500 billion. 'We unite in tough times to conquer challenges through mutual support,' he said. Expanding cooperation in emerging sectors Looking ahead, Xi emphasised future collaboration in areas like clean energy, the digital economy and artificial intelligence, alongside ongoing work in food and agriculture. Regional leaders, including the presidents of Brazil, Colombia and Chile, supported Xi's call for unity. Colombian President Gustavo Petro, a key US ally, urged countries to avoid harmful trade policies and military threats. 'We must not destroy our trade or threaten each other with bombs,' he said, also announcing Colombia's entry into the BRI. Chilean President Gabriel Boric warned against global fragmentation and defended fair trade and sovereignty, stating, 'It cannot be just decided by one or two countries.' China's strategic push in Global South Xi's remarks align with China's broader efforts to strengthen partnerships in the Global South, particularly amid ongoing tensions with the US. Despite recent trade talks leading to a temporary 90-day pause and reciprocal tariff reductions, competition between the two powers remains strong. The US continues to exert influence in Latin America, with reports indicating pressure on Panama to reduce perceived Chinese control over its canal, the report said. China's foreign ministry confirmed that top diplomat Wang Yi would chair a meeting with foreign ministers from over 30 Celac member states. In a commentary published by People's Daily, Wang lauded the strong mutual support between China and the region, contrasting China's approach with unnamed powers that he said bring 'negative energy'. China's investments, Wang argued, come without political strings, making the country a 'reliable friend' and 'partner for long-term cooperation'. He called for unity against hegemonic practices and urged countries to join China in standing 'on the right side of history'. China-Celac Forum Marking its 10th anniversary, the China-Celac Forum convened in Beijing with top leaders from Latin America and the Caribbean. China is expected to sign multiple cooperation deals on technology, artificial intelligence and trade. Assistant Foreign Minister Miao Deyu said the meeting sends 'a clear message of China and the Celac countries working together in solidarity to jointly address global challenges' and that both sides oppose 'unilateralism and economic bullying'.
Business Times
12-05-2025
- Business
- Business Times
China hosts Latin American, Caribbean nations amid US trade war talks
[BEIJING] China will host a summit that includes its key Latin American trade partners this week in an effort to advance influence and partnerships in the region, as Beijing and Washington work on defusing their trade war. Latin American and Caribbean officials including the presidents of Brazil, Colombia and Chile are set to attend the China-Celac Forum ministerial meeting in Beijing on Tuesday (May 13). Bilateral trade with the bloc was worth US$427 billion from January to September 2024, according to Chinese data. China's President Xi Jinping will deliver a speech to the summit. The last time Xi addressed the forum was at the first of such meetings 10 years ago. The China-Celac Forum challenges long-standing American geopolitical and economic dominance in the region, which the Trump administration has sought to counter, and takes place after a weekend of high-stakes trade talks between the US and China that ended on a positive note. US officials touted a 'deal' to reduce the US trade deficit, while Chinese officials said that both had reached 'important consensus' and agreed to launch another new economic dialogue forum. Both were set to release a joint statement on Monday. BT in your inbox Start and end each day with the latest news stories and analyses delivered straight to your inbox. Sign Up Sign Up China has been trying to marshal a global coalition against what it called an 'abuse of tariffs' by the United States. Since the world's two largest economies imposed steep tariffs well above 100 per cent on each other's goods last month, China has reached out to South-east Asia and Central Asia calling on its trade partners to hold the line against 'unilateral bullying' and to uphold multilateralism. China also made progress on trade issues with the European Union, agreeing to discuss setting minimum prices on Chinese-made electric vehicles. Free trade was at the centre of discussions Chinese Foreign Minister Wang Yi had with counterparts from Venezuela, Peru, Uruguay and Cuba in Beijing on Monday. Wang called on them to defend multilateralism and deepen cooperation. The China-Celac Forum, an intergovernmental cooperation platform between China and Latin American and Caribbean nations, has been a vehicle to deepen dialogue between China and the bloc over trade, investment and infrastructure cooperation under China's Belt and Road Initiative (BRI). Highlighting tensions between China and the US in the region has been the Panama Canal, which US President Donald Trump has threatened to take back. The US-based BlackRock consortium's US$23-billion deal to acquire Hong Kong-based CK Hutchison's port operations near the Panama Canal, which Trump hailed as 'reclaiming' the waterway, triggered Beijing's concerns and prompted a regulatory review. China is the primary buyer of raw materials from Latin America, including copper, iron ore and minerals, but its trade with Brazil could feature this week. Coinciding with the summit, Beijing will also welcome Brazilian President Luiz Inacio Lula da Silva's state visit on Tuesday. More than a dozen bilateral signings were expected. China is Brazil's largest export market by some length, a trade dominated by commodities like soybeans, iron ore and crude oil. Last year, China bought US$37 billion worth of soybeans from Brazil, making it China's primary soybean supplier as the world's largest soybean buyer diversifies away from the US. China resumed imports of Brazilian soybean shipments last week from five firms previously suspended over phytosanitary concerns. In a social media post, Chilean President Gabriel Boric confirmed attending the summit in Beijing and said that he would meet Xi. The meeting could discuss business interests from Chinese firms in the world's No 2 lithium producer after metals group Tsingshan said that it remains keen on investment opportunities in Chile's downstream lithium sector. On other fronts, more infrastructure cooperation could be highlighted as the high-profile meeting paves a path towards the Brics Summit to be hosted in Rio de Janeiro in July. Unlike Panama, which exited the BRI earlier this year, Colombia has ambitions to join China's flagship BRI programme, following in the footsteps of Peru which BRI-linked Port of Chancay was inaugurated half a year ago to serve better maritime connectivity between China and South America. REUTERS
Straits Times
12-05-2025
- Business
- Straits Times
China hosts Latin American, Caribbean nations amid US trade war talks
BEIJING - China will host a summit that includes its key Latin American trade partners this week in an effort to advance influence and partnerships in the region, as Beijing and Washington try to defuse their trade war. Latin American and Caribbean officials including the presidents of Brazil, Colombia and Chile are set to attend the China-Celac Forum ministerial meeting in Beijing on May 13. Bilateral trade with the bloc was worth US$427 billion (S$554 billion) from January to September 2024, according to Chinese data. China's President Xi Jinping will deliver a speech to the summit. The last time Mr Xi addressed the forum was at the first of such meeting 10 years ago. The China-Celac Forum challenges long-standing American geopolitical and economic dominance in the region, which the Trump administration has sought to counter, and takes place after a weekend of high-stakes trade talks between the US and China that ended on a positive note. US officials touted a 'deal' to reduce the US trade deficit, while Chinese officials said both had reached 'important consensus' and agreed to launch another new economic dialogue forum. Both will release a joint statement on May 12. China has been trying to marshal a global coalition against what it called an 'abuse of tariffs' by the United States. Since the world's two largest economies imposed steep tariffs well above 100 per cent on each other's goods in April, China has reached out to South-east Asia and Central Asia calling on its trade partners to hold the line against 'unilateral bullying' and to uphold multilateralism. China also made progress on trade issues with the European Union, agreeing to discuss setting minimum prices on Chinese-made electric vehicles. The China-Celac Forum, an intergovernmental cooperation platform between China and Latin American and Caribbean nations, has been a vehicle to deepen dialogue between China and the bloc over trade, investment and infrastructure cooperation under China's Belt and Road Initiative (BRI). Highlighting tensions between China and the US in the region has been the Panama Canal, which US President Donald Trump has threatened to take back. The US-based BlackRock consortium's US$23 billion deal to acquire Hong Kong-based CK Hutchison's port operations near the Panama Canal, which Mr Trump hailed as 'reclaiming' the waterway, triggered Beijing's concerns and prompted a regulatory review. Commodities trade China is the primary buyer of raw materials from Latin America, including copper, iron ore and minerals, but its trade with Brazil could feature this week. Coinciding with the summit, Beijing will also welcome Brazilian President Luiz Inacio Lula da Silva's state visit on May 13. More than a dozen bilateral signings were expected. China is Brazil's largest export market by some length, a trade dominated by commodities like soya beans, iron ore and crude oil. In 2024, China bought US$37 billion worth of soybeans from Brazil, making it China's primary soya bean supplier as the world's largest soya bean buyer diversifies away from the United States. China resumed imports of Brazilian soybean shipments last week from five firms previously suspended over phytosanitary concerns. In a social media post, Chilean President Gabriel Boric confirmed attending the summit in Beijing and said he would meet Xi. The meeting could discuss business interests from Chinese firms in the world's No. 2 lithium producer after metals group Tsingshan said it remains keen on investment opportunities in Chile's downstream lithium sector. On other fronts, more infrastructure cooperation could be highlighted as the high-profile meeting paves a path towards the Brics Summit to be hosted in Rio de Janeiro in July. Unlike Panama, which exited the BRI earlier in 2025, Colombia has ambitions to join China's flagship BRI programme, following the footsteps of Peru which BRI-linked Port of Chancay was inaugurated half a year ago to serve better maritime connectivity between China and South America. REUTERS Join ST's Telegram channel and get the latest breaking news delivered to you.
