Chinese President Xi Jinping declared on Tuesday his “support” for Latin American and Caribbean countries to “refuse external interference” and “to follow a path of development according to their national conditions.”

“China supports the nations of the region to defend their national sovereignty and independence,” the president said during his opening speech at the IV China-Celac Meeting of Ministers.

The meeting in Beijing is attended by foreign ministers and representatives of the Community of Latin American and Caribbean States (Celac) and, in an unprecedented way, the presidents of Brazil, Chile and Colombia, the latter country that exercises the rotating presidency of the bloc.

According to the Chinese leader, his country and those of Latin America and the Caribbean are “important members of the Global South” and that they must “remain united in the face of growing geopolitical tensions, confrontations between blocs” and the “growing currents of unilateralism and protectionism”.

“We will work with the countries of Latin America and the Caribbean to firmly safeguard the international system and speak with one voice in international and regional affairs,” he stressed.

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CEL

“Development and revitalization are our inherent rights, and equity and justice are our common aspirations” in the face of “geopolitical turbulence and confrontation,” said Xi, who highlighted the joint work “to practice true multilateralism, safeguarding equity and international justice and promote the reform of the global governance system to promote multipolarity.”

The president recalled that last year the trade volume between China and the region exceeded 500 billion dollars for the first time and said that his country wants to continue developing mutual support with Latin America and the Caribbean on issues that affect their “main interests and concerns”.

Thus, he said that his country will provide credits to the region worth 9 billion dollars and will strengthen cooperation in security and law enforcement.

“We must strengthen exchanges in the various areas and strengthen communication and coordination on international and regional issues of importance,” said Xi, who announced that in the next three years Beijing will annually invite 300 leaders of political parties from the CELAC member countries to visit China to “exchange experiences on governance”.

After the inauguration, Xi will offer a lunch to the attendees, which will be followed by the plenary session of the meeting, which will be held behind closed doors and will end with the adoption of a joint statement.

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The main topics of the meeting will be ‘Electrical Interconnection and Renewable Energies’ and ‘Trade Integration’, two headings that align with two key objectives of China in Latin America: to promote its New Silk Roads (BRI) initiative and ensure access to valuable natural resources in the region such as lithium, rare earths, oil or copper.

The Chinese president declared that “intimidating and arrogant practices only serve to isolate himself” in his first statements after the tariff reduction agreement reached between his country and the United States to stop the trade war.

Xi insisted during his inaugural speech at the IV Ministerial Forum of China and the Community of Latin American and Caribbean States (CELAC) that “there are no winners in a trade war”, a day after Washington and Beijing announced a truce that includes the reduction to 30% and 10% of the levies.

“Faced with a situation of multiple intertwined risks, only through solidarity and cooperation can peace and global stability be protected,” said the Chinese president in the presence of the presidents of Brazil, Chile and Colombia, who attend the meeting.

The statements come after China and the United States closed an agreement in Switzerland to reduce their mutual tariffs by 115% for 90 days, a step seen as the beginning of a process to repair their trade differences.

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CEL

The United States agreed to reduce its tariffs for Chinese products from 145% to 30%, while China agreed to lower them to 10% compared to the 125% that was in force.

This reduction will come into force next Wednesday, May 14, and in principle for a period of 90 days, in which both countries will try to resolve other outstanding issues of their economic and trade relations.

Likewise, US President Donald Trump said on Monday that the relationship with China is “very good” and assured that he would talk to his counterpart Xi, “perhaps at the end of the week.”