Business Summit: Roundtable promotes the Promotion of Trade between the People's Republic of China and LAC

The Roundtable of Trade Promotion Organizations, TPOs, with the People's Republic of China was held in the plenary hall of the Olof Palme Convention Center. Various topics related to the promotion of economic integration and the promotion of trade between the Asian giant and Latin America and the Caribbean were addressed.

This activity is taking place within the framework of the XVII China-LAC Business Summit taking place in Managua, Nicaragua.

This Roundtable addressed best practices to facilitate access to international markets, identify business opportunities, establish commercial alliances and overcome the challenges faced by companies in China and Latin America and the Caribbean in the process of internationalization and the role of trade promotion agencies to improve global supply chains.

Karina Mejia, from the Secretariat for the Promotion of Investments and Exports of Nicaragua, welcomed the participants and spoke about the work carried out by this entity to promote foreign investments and increase exports.

"The Government of Nicaragua, through its institutions, works in a coordinated manner to define transformative policies and strategies that ratify the path of economic growth and the defense and restoration of the rights of Nicaraguan families. Investment figures have evolved satisfactorily in recent years, going from 300 million dollars in 2007 to 2,534 million dollars in 2023," said Mejía.

At this Roundtable, topics such as "Building bridges: The central role of the TPOs in promoting economic integration and boosting trade between China and Latin America and the Caribbean" and "Associations: the role of the TPOs in improving the global supply chain and cooperation in the industrial chain between China and Latin America and the Caribbean" were raised.

Mr. Gustavo Cáceres, from the Federation of Businesses of Latin America and the Caribbean-China (FENLACC), indicated that currently a greater effort and more unification is required for the facilitation, promotion and linking of business projects within the region and China.

"The work of our federation is to unify all the unions, all the chambers, all the associations of Latin America that are currently working to promote business and relations between China and Latin America in an associated manner, in such a way that through FENLACC they can have access to the entire network, to all the countries that work and do business with the Asian giant," said Cáceres.

On behalf of the Chinese Council for the Promotion of International Trade (CCPIT), various interlocutors spoke, who confirmed China's interest in deepening trade relations with Latin America and the Caribbean.

"Latin America has a vast territory and a very important role in global economic development, we want great complementarity with Latin America. We want to continue contributing in manufacturing, agriculture, technology and our Chamber of Commerce has the objective of promoting communications with Latin America with the leadership of our authorities, we have established a coordination office with Latin America with the objective of promoting trade and communications. We are going to work hard to deepen industrial cooperation for greater achievement and together write a new era," said one of the representatives of the Chinese Council for the Promotion of International Trade (CCPIT).

Another of the topics addressed at this Round Table was the exploration of the synergies existing between the TPOs of China and Latin America and the Caribbean, as well as the opportunities for collaboration to promote joint investment projects and regional value chains, thus contributing to sustainable economic growth and inclusive development in both regions.

More than 200 representatives of entities and companies from China and more than 70 business representatives from Latin America and the Caribbean participated in this business summit.

During the Round Table, the Memorandum of Cooperation and Friendship between Trade Promotion Organizations was signed, which seeks to promote trade relations and coordination to deepen economic ties with the People's Republic of China.

Source: 19 Digital