Infrastructure viewed as spur for cooperation

China's joint efforts with Latin America region have room to grow, forum told

The construction of high-quality infrastructure－especially for projects focused on new energy sources and digital technology－can further boost cooperation between China and Latin American and Caribbean nations, a forum in Macao was told on Thursday.

"Latin American and Caribbean nations are in big need of infrastructure," Uruguayan Ambassador to China Juan Fernando Lugris Rodriguez said at a news conference on Thursday."Sustainable development requires very good infrastructure."

The ambassador said the region welcomes innovative financing to support infrastructure development, adding that any challenges can be overcome through closer cooperation.

Vice-Minister of Commerce Wang Bingnan, in an address to the 6th China-LAC Infrastructure Forum, called on the nations represented to come together in a "brotherly" way－borrowing from an Argentine saying－to overcome difficulties and upgrade infrastructure and connectivity across the regions. Wang pointed to fields such as medical care and the digital economy.

The forum, one of more than a dozen events at the two-day 11th International Infrastructure Investment and Construction Forum in Macao, drew ambassadors and representatives of the region to China and around 600 other delegates. It was the year's largest in-person meeting involving representatives from the countries in the two regions.

Infrastructure construction has been the focal point of the mutually beneficial collaboration between China and Latin American countries, said Wang. And the value of contracts signed for projects in Latin America by Chinese enterprises has exceeded $210 billion so far.

Mexican Minister of Economy Graciela Marquez said investment in infrastructure has been central for achieving economic and social development. "The Chinese expertise on how to enhance innovation through the development of new infrastructure, and especially through the growth of technology, offers new tools to strengthen our participation into global value chains," she said.

As emerging economies with complementary aspects for mutual benefits, the economic ties between the two sides can reach their full potential, and China remains the key investment and trade partner for Mexico.

This year China and Colombia celebrate the 40th anniversary of diplomatic relations and Colombia recognizes the capacity and reputation of Chinese companies in the 5G-based pillars of environmental, social, financial and institutional sustainability, said Luis Diego Monsalve Hoyos, Colombia's ambassador to China.

Working closely

"Undeniably, it's the sector that Latin America needs to improve, creating a perfect match to consolidate our cooperation. We are confident that we'll work closely with Chinese companies in infrastructure," he said.

Luis Maria Kreckler, Argentine ambassador to China, notes that Chinese companies and banks have become a vital source of capital for the Latin American region.

In the post-pandemic era, Argentina plans to strengthen its cooperation with the Chinese government and the country's private sector to foster the growth of foreign direct investment in strategic sectors such as infrastructure, Kreckler said.

Peruvian Ambassador to China Luis Felipe Quesada Inchaustegui, Dominican Ambassador Martin Charles, and Ecuadorian Ambassador Carlos Humberto Larrea Davila also introduced their visions for regional cooperation at the event.

Peng Tao, deputy director-general of the Department of American and Oceanian Affairs of China's Ministry of Commerce, said engineers from Huawei are helping Latin America to build information highways.

Fang Yanshui, general manager of China Machinery Engineering Corp, said the development of infrastructure supporting 5G and information centers has great potential in the post-pandemic era.

At separate panels, several ambassadors to China from Europe and Africa joined bankers and corporate managers in discussing ways to tackle challenges, with a panel for representatives from the Portuguese-speaking nations of Angola, Brazil, Cape Verde, Guinea-Bissau, Mozambique, Portugal, Sao Tome and Principe, and Timor-Leste.

VIVIEN XU in Hong Kong

vivienxu@chinadailyapac.com