2. In the Economic Field

(1) Trade

Efforts will be made to tap into trade potentials between the two sides, promote the trade of specialty products, goods with competitive advantages or high added-value, and technology-intensive products, and strengthen trade in services and e-commerce cooperation between China and Latin American and Caribbean countries. Based on the principle of reciprocity and mutual benefit, China will discuss with Latin American and Caribbean countries the establishment of long-term and stable trade relations and various trade facilitation arrangements including the FTA. Trade frictions will be properly handled to promote sound and balanced development and structural diversification of trade between the two sides.

(2) Industrial Investment and Capacity Cooperation

China will encourage its enterprises to expand and optimize investment in Latin American and Caribbean countries on the basis of equality and mutual benefit. China wishes to sign more agreements on investment protection, avoidance of double taxation and tax evasion with Latin American and Caribbean countries, so as to create favorable environment and conditions for investment cooperation between enterprises of both sides.

Upholding the principle of business-led and market-oriented cooperation for mutual economic and social benefits, China will support the efforts of Chinese enterprises to invest and start business in Latin American and Caribbean countries, and align high-quality capacity and advantageous equipment of China with the needs of Latin American and Caribbean countries, in order to help the countries in need to enhance their capacity for independent development.

(3) Financial Cooperation

China will support its financial institutions to strengthen business exchanges and cooperation with national, regional and international financial institutions in Latin American and Caribbean countries and further improve the construction of branch networks in the region. Efforts will be made to enhance dialogue and cooperation between the central banks and financial regulatory authorities of the two sides, expand cross-border local currency settlement, discuss RMB clearing arrangements, and steadily promote monetary cooperation. On the basis of bilateral financial cooperation, and giving full play to the role of China-Latin America Cooperation Fund, concessional loans, special loans for Chinese-Latin American infrastructure, China-Latin American Production Capacity Cooperation Investment Fund, and relevant financing arrangements between China and Caribbean countries, China will actively explore cooperation forms including insurance and financial lease, continuously expand cooperation with regional financial institutions in Latin America and the Caribbean, and support cooperation in key areas and major projects between the two sides.

(4) Energy and Resources Cooperation

China wishes to expand and deepen cooperation in the fields of energy and resources with Latin American and Caribbean countries based on the principle of win-win cooperation and sustainable development. Efforts will be made to bring cooperation to upstream business such as exploration and development, so as to consolidate the foundation for cooperation and expand resources potentials; and at the same time, cooperation will be extended to downstream and supporting industries such as smelting, processing, logistics trade and equipment manufacturing, so as to improve added value of products. China is ready to actively explore with Latin American and Caribbean countries the establishment of mechanisms for long-term supply of energy and resources products and local currency pricing and settlement, to reduce the impact of external economic and financial risks.

(5) Infrastructure Cooperation

China will strengthen cooperation on technical consultation, construction and engineering, equipment manufacturing and operation management in the fields of transportation, trade logistics, storage facilities, information and communication technology, energy and power, water conservancy, housing and urban construction. China will support and encourage competent enterprises and financial institutions to actively participate in the planning and construction of logistics, power and information passages in Latin American and Caribbean countries, and actively explore new ways of cooperation, such as the Public-Private Partnership (PPP) model, so as to promote the connectivity of infrastructure in Latin America and the Caribbean.

(6) Manufacturing Cooperation

China will support its strong enterprises to participate in major resources and energy development projects and infrastructure construction projects in Latin American and Caribbean countries and, using these projects as the basis, to build production lines and maintenance service bases in the region for construction materials, non-ferrous metals, engineering machinery, locomotives and rolling stock, electric power and communication equipment, with the purpose of reducing costs for resources and energy development and infrastructure construction in Latin American and Caribbean countries. China will encourage its enterprises to go to Latin American and Caribbean countries to carry out cooperation in such fields as automobiles, new energy equipment, motorcycles and chemical industry, which will cover the whole industrial chain, so that the two sides can complement each other, increase local employment, upgrade the level of industrialization and promote local economic and social development. Based on the business-led and market-oriented principles, discussions will be held on the joint construction of industrial parks, logistics parks, high-tech industrial parks, special economic zones and other industrial agglomeration areas, so as to help Latin American and Caribbean countries in their industrial upgrading. Exchanges and cooperation between small and medium-sized enterprises of the two sides will be encouraged by building relevant platforms and creating good environment for them.

(7) Agricultural Cooperation

Efforts will be made to encourage enterprises on both sides to actively engage in agricultural trade, push for further exchanges and cooperation in agricultural science and technology, personnel training and other fields, deepen cooperation in livestock and poultry breeding, forestry, fishery and aquaculture, and jointly promote food security. China will continue to set up and improve agricultural technology demonstration programs, promote the development and demonstration of modern agricultural technologies, and enhance agricultural technology innovation, agricultural production and processing capacity and international competitiveness on both sides. Bilateral mechanisms for agricultural information exchanges and cooperation will be improved while giving full play to the role of the special fund for China-Latin America agricultural cooperation, and more agricultural cooperation projects are encouraged.

(8) Scientific and Technological Innovation

China will actively explore the expansion of its cooperation with Latin American and Caribbean countries in high-tech fields such as information industry, civil aviation, civil nuclear energy and new energy, to build more joint laboratories, R&D centers and high-tech parks, support innovative enterprises and research institutions on both sides to carry out exchanges and cooperation, and promote joint research and development. China will encourage dialogue and exchanges between scientific and technological talents on both sides, and support more outstanding young scientists from Latin America and the Caribbean to come to China for short-term scientific research.

(9) Space Cooperation

China will actively explore cooperation between the two sides in such fields as communication and remote sensing satellites, satellite data application, aerospace infrastructure, and space education and training, and promote space technology application in disaster prevention and mitigation, agricultural and forestry monitoring, climate change and other fields. China will pay full attention to the role of space technology as a driving force for the scientific, technological and industrial development of Latin American and Caribbean countries, and promote sustainable development in science and technology and the economic fields.

(10) Maritime Cooperation

China will actively explore cooperation between the two sides in marine science and technology, marine ecological environment protection, marine climate change, marine disaster prevention and mitigation and other fields, and carry out marine economic development in accordance with local conditions, so as to promote the development of maritime affairs between the two sides.

(11) Cooperation on Customs and Quality Inspection

Exchanges and consultations between customs and quality inspection departments from both sides will be strengthened, to promote trade security and facilitation, and ensure product quality and food safety. China will advance the implementation, negotiation, or signing of cooperation documents with Latin American and Caribbean countries regarding customs administrative assistance, animal and plant products quarantine access, etc. Active steps will be taken to carry out cooperation and exchanges on customs capacity building, trade facilitation, capacity building, goods trade statistics, and standardization.

(12) Cooperation Between Trade and Investment Promotion Institutions and Business Associations of the Two Sides

China will deepen its cooperation with trade and investment promotion institutions and business associations in Latin American and Caribbean countries, and facilitate, by making use of relevant mechanisms and platforms for bilateral and collective cooperation, exchanges between enterprises of the two sides, so as to achieve win-win cooperation.

(13) Economic and Technical Assistance

Based on full respect for the will of related countries in Latin America and the Caribbean, and in accordance with China' s financial capacity and level of economic and social development, China will continue to provide economic and technical assistance to Latin American and Caribbean countries without attaching any political conditions and, in accordance with the needs of related countries, gradually increase the scale of assistance within its capacity. China will innovate the assistance model, giving priority to human resources development, development planning, economic policy consulting and training, infrastructure construction, agriculture and food security, poverty reduction, climate change and humanitarian assistance.