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Wang Yi: Take Joint Construction of the "Belt and Road" as Opportunity to Realize Transoceanic Handshake between China and LAC
2018/01/23

On January 22, 2018 local time, Foreign Minister Wang Yi stressed in his speech at the opening ceremony of the Second Ministerial Meeting of the Forum of China and the Community of Latin American and Caribbean States that China is willing to work with Latin America and the Caribbean (LAC), take this meeting as a new starting point and take the joint construction of the "Belt and Road" as a new opportunity to realize the transoceanic handshake between China and LAC.

Wang Yi expressed that in accordance with the goal of establishing a comprehensive cooperative partnership of equality, mutual benefit and common development set by President Xi Jinping and LAC leaders, and to deepen China-LAC "1+3+6" cooperation framework proposed by President Xi Jinping, China puts forward five suggestions on China-LAC cooperation in the next stage:

First, China and LAC should build greater connectivity integrating land and ocean. "Building roads and railways creates prosperity in all sectors." China will actively participate in the hardware construction and connectivity in fields such as transportation, infrastructure and energy in LAC, and is willing to negotiate the signing of cooperative documents on the "Belt and Road" with more countries in the region so as to promote the launching and early harvest of more projects.

Second, China and LAC should foster a grand market featuring openness and mutual benefit. China will promote the facilitation of trade and investment with countries in the region, and well foster the grand China-LAC market covering 2 billion people. The LAC countries are welcomed to actively participate in the first exposition to be held this November, and are expected to export more high-quality and featured products suitable for market demand to China.

Third, China and LAC should build independent and advanced major industries. LAC should break the bottleneck of its development, foster its pillar industries with competitiveness, and improve its self-development capacity. The two sides can accelerate production capacity cooperation, jointly build the three major passages of logistics, electricity and information, enable sound interactions among the enterprise, society and government, expand three financing channels of fund, credit loan and insurance, and support LAC to build an independent and diversified industry system at an early date.

Fourth, China and LAC should seize the great opportunity of innovation-driven growth. China is willing to dock the "Belt and Road" Science and Technology Innovation Action Plan with that of LAC to build China-LAC Online Silk Road and Digital Silk Road. China and LAC can strengthen cooperation in emerging fields such as aviation, aerospace, renewable energy, artificial intelligence, big data, internet and biomedicine. Besides, China is willing to support the small and medium-sized LAC countries to enhance their ability to tackle climate change.

Fifth, China and LAC should conduct major exchanges featuring equality and mutual trust. As developing countries and emerging economies, China and LAC countries are all in an important stage of development and rejuvenation and are all seeking development paths that suit their national conditions. China stands ready to strengthen exchanges of experience on state governance and administration with LAC, and expand exchanges in various fields including political parties, locality, media, think tanks, people-to-people and cultural engagement as well as youth.

Wang Yi noted that China is willing to work with LAC, take this meeting as a new starting point and take the joint construction of the "Belt and Road" as a new opportunity, so as to realize the transoceanic handshake between China and LAC, promote the optimization, upgrading, innovation and development of China-LAC cooperation, and forge a new cooperation pattern featuring wider coverage, better structure, stronger impetus and higher quality.

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