Opening Remarks by Wang Huiyao at CCG’s Pacific Alliance Event
December 13 , 2021
This year marks the 10th anniversary of the creation of the Pacific Alliance. On Dec 13, CCG hosted public lecture series featuring the Pacific Alliance ambassadors – H.E. Luis Diego Monsalve, Ambassador of Colombia to China, H.E. Jesus Seade, Ambassador of Mexico to China, H.E. Luis Quesada, Ambassador of Peru to China and H.E. Luis Schmidt, Ambassador of Chile to China, on the future development of PA and prospects of China-PA cooperation.
The Pacific Alliance (PA) is a regional trade bloc launched in 2011 that includes Chile, Colombia, Mexico, and Peru as well as 59 observer states. With a combined population of 230 million, a per capita GDP of USD19,000, the Alliance is now the 8th largest exporter in the world. China is a key trading partner of Latin America and the Caribbean (LAC) as China-LAC trade grew 26-fold over the last two decades and expected to more than double by 2035.
Opening Remarks was made by Dr. Huiyao Wang, President of Center for China and Globalization (CCG).
Full text of his remarks is as below:
Dear Ambassador Luis Diego Monsalve, Ambassador Jesus Seade, Ambassador Luis Quesada, Ambassador H.E. Luis Schmidt and all of our distinguished guests and media friends.
It is a great honor and pleasure for me to welcome you all on behalf of the Center for China and Globalization. On the occasion of the 10th anniversary of the Pacific Alliance, CCG is pleased to co-host today’s event with the Pacific Alliance, featuring the ambassadors to China from all four member states: Colombia, Mexico, Peru and Chile. This is indeed a great opportunity to learn more about the alliance, and also explore common opportunities for China, and LAC region at large.
Exchanges between our people have a long history. Dating back to 16th century, the middle of Ming Dynasty, silk, porcelain and cotton yarn have been shipped to LAC countries, like Peru and Mexico. In return, Latin American corn, potato and sunflower also gradually gained popularity in China.
Today, China features as a key trading partner for Latin America and Caribbean countries, both as a source of imports and destination of exports. China’s trade with the LAC region has grown dramatically and consistently over the last two decades, multiplying 26-fold. Despite the COVID-19 pandemic and it’s unfortunate impact on global commerce, trade relations between China and LAC have continued to experience positive growth. In the first half of 2021, our bilateral trade was about $203 billion, a year-on-year increase of 45.6 percent.
In the wake of the pandemic, investment from Chinahas also continuously flown to the Latin America and Caribbean countries. China’s direct investment in Latin America reached $10.38 billion from this January to May, a year-on-year increase of 40 percent.
These numbers exhibit the great resilience and future potential of China and LAC countries.
And Within the LAC region, The 4 members of the Pacific Alliance, known for their openness to free trade and investment liberalization, Come together to form the eighth largest economy in the world. Since 2017, Chile, Colombia, Mexico and Peru have also emerged as key recipients of China’s FDI. In 2020, Chile, Colombia and Mexico take an account for 76.85 % of China’s direct investment and 93.97% employees in the entire region.
Moreover, we also have a mutual interest to promote from inclusive and impactful multilateralism, especially in the Pacific region. For instance China is seeking to join the CPTPP, which since its launch has been beneficial to its members, including Mexico. China, and other members of the Pacific Alliance, would be no different.
This May, Chinese State Councilor and Foreign Minister Wang Yi congratulated the 10th anniversary commemoration of the Pacific Alliance. In his address he underscored that “China stands ready to deepen multilateral and bilateral cooperation with the Pacific Alliance and its member states, continue to cooperate with Latin American and Caribbean countries in various fields such as combating the epidemic, demonstrate the concept of a community with a share future in a new era featuring equality, mutual benefits, innovation, openness and benefiting the peoples.”
LAC and China have been benefiting from their complementarity in economic sectors. Latin American region is also an advocate and key partner in China’s Belt and Road Initiative and 19 LAC countries have signed the BRI agreements with China. The economic ties on both sides have been further strengthened under the Belt and Road framework and BRI paves a way for greater economic growth and expanding international cooperation for the Latin American governments and businesses. During 2005-2020, China has carried out 138 infrastructure projects, worth US$94.09 billion, as well as generated over 600,000 jobs in LAC countries.
Out of the 4 members of the Pacific Alliance (PA), Peru and Chile both are signatories of the BRI, as well as Colombia and Mexico have closely followed the initiative, for instance the Bogotá Metro project. Based on a common perspective of mutual respect and win-win cooperation, I believe PA in alignment with BRI will maintain stable and sustainable development.
Improving the quality of infrastructure, energy, and connectivity projects under the BRI framework in Latin America is definitely good news for the region. Meanwhile, China and LAC countries are also expanding the scope of their cooperation, , such as e-commerce, public health, finance, and the services sector. This enhancement of our bilateral cooperation stimulates more innovation and dynamism on both sides.
I am confident that through win-win cooperation, mutual understanding, and trust , China together with Pacific Alliance and the LAC region will jointly build a community with a shared future – towards prosperity and global development.
And with that, I I look forward to learning more from our four ambassadors and wish today’s event immense success. Thank you!
