BUSINESS
International News: In a strategic move to bolster its global alliances amid ongoing trade tensions with the United States, China has announced several major initiatives to strengthen relations with Latin American and Caribbean nations. Speaking at the China-CELAC Forum in Beijing, President Xi Jinping laid out a multi-faceted plan to deepen economic and political engagement with the region.
President Xi declared that five Latin American countries would soon be granted visa-free access to China. While specific countries were not immediately named, the announcement was seen as a significant gesture of goodwill and cooperation. Xi noted that similar visa exemptions may follow for other countries in the region, signaling China’s openness to increasing people-to-people contact.
One of the most prominent developments at the forum was Colombia’s decision to officially join China’s Belt and Road Initiative (BRI). The announcement was made by Colombian President Gustavo Petro and marks a notable expansion of China’s global infrastructure and trade network. With Colombia’s inclusion, China is now poised to play a larger role in South American development, especially in sectors like transportation, energy, and digital connectivity.
As trade friction with the US continues, China is emphasizing its role as a reliable and stable economic partner. Xi criticized rising unilateralism and protectionist policies, indirectly referencing the US, and called for cooperation over confrontation. This comes just a day after the US and China reached a temporary agreement to suspend some of the new tariffs for 90 days.
Xi announced a new $9.2 billion credit line aimed at boosting local financing in Latin America and the Caribbean. This financial push is intended to support development projects and attract further Chinese investment. In addition to infrastructure, China plans to collaborate in emerging sectors such as renewable energy, 5G networks, artificial intelligence, and digital economy.
China’s trade with Latin America surpassed $500 billion last year, driven by rising imports of soybeans, beef, crude oil, and essential minerals. China is also investing in 5G infrastructure, port development, and hydropower projects across the region as part of its BRI.
The China-CELAC Forum, established in 2015, has become a platform for deeper cooperation between China and Latin American nations. With recent developments, including Colombia’s BRI entry and expanded visa policies, China is positioning itself as a key player in reshaping global alliances beyond traditional Western influence.
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