15th China-LatAm, Caribbean Business Summit opens in Ecuador

GUAYAQUIL, Ecuador, Dec. 14 (Xinhua) -- Ecuadorian President Guillermo Lasso on Wednesday inaugurated the 15th China-Latin America and the Caribbean (LAC) Business Summit, scheduled on Wednesday and Thursday in the Ecuadorian port city of Guayaquil, to promote Chinese trade and investment in the region.

"Latin America and the Caribbean region, with 662 million inhabitants, is closely linked to the People's Republic of China," Lasso said at the opening of the event, noting that trade between the two sides reached 450 billion U.S. dollars in 2021, which "reflects the magnitude and weight that these relations have for our countries."

"The region has become one of the top destinations for Chinese investment," said Julio Jose Prado, Ecuador's minister of production, foreign trade, investment and fisheries.

Representatives from the private sector and business chambers, and government officials in foreign trade, transportation, public works, export, investment promotion and telecommunications will attend the summit, which includes a macro business roundtable and a plenary session on post-COVID-19 economic recovery, and cooperation forums on trade and investment, green industry, think tank and digital cooperation.

The annual China-LAC Business Summit is organized by the China Council for the Promotion of International Trade, with Ecuador's ministry of production, foreign trade, investment and fisheries helping to prepare for this year's edition.

Created in 2007, the summit has become the most important business event bringing together exporters, importers and investors from China and Latin American countries.