In recent years, Chinese President Xi Jinping has outlined a new roadmap for shaping the China-Latin America and Caribbean community with a shared future. Within this framework, free trade agreements between China and regional countries have expanded trade volume and improved its quality, leading to seven consecutive years of rapid growth.
China has now become the region’s second-largest trading partner, with agreements such as China-Chile, China-Peru, China-Costa Rica, China-Nicaragua, and China-Ecuador significantly boosting bilateral trade. For instance, since the China-Chile free trade agreement came into effect in 2006, trade volume has increased eightfold, while China-Peru trade has grown sevenfold since 2010.
These developments have accelerated the economic integration of both China and Latin American countries, while also expanding China’s “circle of friends” in the region. Additionally, China is speeding up free trade agreement negotiations with countries such as Honduras and El Salvador. As China’s market becomes increasingly open, new opportunities arise for Latin American countries.
Moving forward, both sides are expected to strengthen trade cooperation, promote mutual development, and take firm steps toward a shared future.