Expert on future of China-Latin america trade

Added On November 7, 2018

 The first China International Import Expo, or CIIE, has drawn attention from around the world.

It has attracted over 3,600 companies from over 170 countries, regions and international organizations
Economic expert Alicia Barcena says the expo is a sound example of China’s push for multilateralism.
Alicia Barcena is the Executive secretary of the United Nations Economic Commission for Latin America and the Caribbean (ECLAC).
She says that the governments of Latin America and the Caribbean are willing to have a closer relationship with China.
"For us, from the ECLAC's perspective, there is a lot to be improved. Instead of China buying raw materials and taking them to China, there could be Chinese companies that process them in Latin America. I believe that is the next step."
Barcena also believes there is enormous potential for cooperation in the food industry. Latin America has a surplus in food production, while China's expanding middle class has a growing demand for foodstuffs.
In particular, it would be possible to explore opportunities offered by existing trade blocs, such as the Southern Common Market, founded by Argentina, Brazil, Paraguay and Uruguay.
The ECLAC expects the value of exports from Latin America to China could grow by 28 percent this year. It's the most dynamic figure among all trading partners, cementing China's place as Latin America's main trading partner.
And trade between China and Latin America has been growing in the past few years. In 2017, it reached 266 U.S. billion dollars. According to the ECLAC, the figure could reach 500 billion dollars by the year 2025.