Strengthened China-Latin America ties epitomize APEC's push for inclusive economic cooperation

As the 2024 APEC gathering commences in Lima, Peru, China's deepening partnerships with Latin American nations - bolstered by trade, investment, and the Belt and Road initiative - serves as a key example of the country's commitment to fostering inclusive economic cooperation across the Asia-Pacific region.

Under the overarching theme of "Empower. Include. Grow," APEC Peru 2024 which is running from Nov. 10-16, will bring leaders of its 21 member economies together to set the agenda for the Asia-Pacific region, with trade and investment for inclusive and interconnected growth beiamong the priority areas.

At the APEC media center next to the meeting's main venue, booths promoting new technologies and sustainable development are set up. Organizers say Peru is seeking opportunities to connect the largest markets and insert Peruvian companies in regional and global value chains.

In an opinion article posted on the website of the China Global Television Network (CGTN) last weekend, Peru's Ambassador to China Marco Balarezo wrote that exports to APEC economies represented 68.5 percent of Peru's total international transactions in 2023, and that the Asia-Pacific provides a critical region of opportunities and incorporation in the regional and global supply chains.

Chinese President Xi Jinping will attend this year's APEC Economic Leaders' Meeting and pay a state visit to Peru from Wednesday to Sunday, with this being his sixth visit to Latin America since 2013.

An updated free trade agreement (FTA) between Peru and China, set to be signed during President Xi's visit, is another example of how APEC 2024 will bolster the economy, according to Ambassador Balarezo.

China is Latin America's second-largest trading partner and main source of investment, as well as the top trading partner for many countries in the region including Peru. It has signed Free Trade Agreements with five Latin American economies and established high-quality Belt and Road cooperation with 22 Latin American and Caribbean countries. The cooperation has grown beyond traditional areas like trade, finance, and infrastructure to include newer fields such as energy, the digital economy, and aerospace.

One of the flagship cooperative projects, the China-built Chancay Megaport north of Lima, set to become fully operational shortly after the APEC meeting, is establishing Peru as a gateway for South American trade to Asian markets. Beyond that, Balarezo said Peru invites all APEC enterprises to invest in this near-term endeavor.

Since it started over 30 years ago, APEC has turned into a powerful driver of economic growth and one of the most important forums in the Asia-Pacific region. With 21 member economies, APEC represents around 62 percent of the world's GDP and nearly half of global trade.

APEC is the first regional economic cooperation organization that China joined back in 1991. Experts believe China has accelerated the pace of opening up through APEC cooperation and has provided huge opportunities for economic and trade development in the Asia-Pacific region.

Strengthened China-Latin America ties epitomize APEC's push for inclusive economic cooperation

Ten Colombian trainees on Tuesday graduated from the "Operation and Maintenance Plan" training program for the Bogota Metro Project in Xi'an, capital of northwest China's Shaanxi Province, the first batch of new recruits completed training in China for the Chinese-contracted metro project.

They will return to Bogota, the capital of Colombia, to participate in the operation and management work of the city's first metro line, which will begin service in 2028.

The subway line is being built by a consortium of Chinese companies, namely China Harbor Engineering Company Limited and Xi'an Metro Company Limited.

The Bogota Metro Project has made steady progress in infrastructure construction, personnel education and training, thanks to the support of governments, relevant enterprises, and education institutions from both sides.

The graduates have mastered the knowledge and operational methods of urban rail transit systems after a year of study.

"I learned a lot in China, and I need to bring that knowledge back to my country. I have a very important responsibility to build my country's subway, to build the Bogota Metro Line 1, so I studied very hard every day. I think it would be wonderful to come back to Xi'an sometime," said David Wan, a Colombian student.

Colombian Ambassador to China Sergio Cabrera lauded the training program as contributing to enhancing friendship between Colombia and China.

"I also went to Xi'an when the students first came to China a year ago. At that time, they had just arrived and did not know anything. A year later, I saw that they spoke Chinese very well, and that they had learned a lot and studied very hard. I watched their study videos, and I was proud of their achievements. It shows the abilities of these young Colombians, who have adapted to their new work and life very well. They have established a long and solid friendship between Colombia and China," he said.

Meanwhile, the second batch of 40 trainees set to begin their sessions in China. Selected from over 2,000 applicants, they have signed contracts to become employees of the Bogota Metro Project.

Building on the experience gained from training the first batch, this program has established a specialized training team to help trainees thoroughly understand and master the knowledge and operational methods of urban rail transit. The training will also equip them with initial management experience and enhance their skills in repair and maintenance.

Colombian trainees complete training in China for Pogota Metro project