Initiated by the China Council for the Promotion of International Trade (CCPIT) in November 2007, the China-LAC Business Summit is the first promotion mechanism and platform of economic and trade cooperation between China and Latin America & the Caribbean, and has been hailed by the Chinese government as “a flagship brand in China-LAC practical cooperation”. The Summit was included as a key mechanism for developing China-LAC business relations in China’s Policy Paper on Latin America and the Caribbean issued by the Chinese government on November 5, 2008. It also provides a major trade and investment promoting program under the umbrella of the China-CELAC Forum and is listed in the China-Latin American and Caribbean Countries Cooperation Plan (2015-2019).
China-LAC Business Summit focuses on key issues facing China-LAC business communities in light of broader international economic and trade development trends. Political leaders, experts, representatives of international organizations and financial institutions, as well as entrepreneurs from China and LAC countries, are invited to discuss on China-LAC trade and investment policies, market opportunities, and mutually beneficial cooperation. There are also such side events as China-LAC City Economic Cooperation Forum, Roundtable Meeting of China-LAC Trade Promotion Organizations, China-LAC Financial Roundtable Meeting, business matchmaking meetings, LAC National & Regional Exhibitions and training programs for LAC trade association and chambers of commerce . The Summit is held annually in China and LAC countries on a rotating basis. The first nine were held in Santiago (Chile), Harbin (China), Bogotá (Colombia), Chengdu (China), Lima (Peru), Hangzhou (China), San Jose (Costa Rica), Changsha (China) and Guadalajara (Mexico).
All previous summits gained great support from both government and businesses of China and LAC countries, attracting delegates from nearly 30 LAC countries each year and growing in scale and influence. Leaders of LAC countries such as President Michelle Bachelet Jeria of Chile, President Álvaro Uribe Vélez of Colombia, President Ollanta Humala of Peru and President Laura Chinchilla of Costa Rica, Chinese leaders such as NPC Vice Chairmen Zhou Tienong and Hua Jianmin, CPPCC Vice Chairmen Wang Qinmin, Abulaiti Abudurexiti, Bai Licheng and Li Meng, as well as leaders of international organizations such as Luis Alberto Moreno, President of IDB and Alicia Bárcena, Executive Director of Economic Commission for Latin America and the Caribbean (ECLAC) attended summit events. The Summit mechanism also makes a major topic for meetings between Chinese and LAC political leaders. Presidents of several LAC nations, in person or by letter, have expressed to the Chinese side the will to host the Summit in their own countries.
The 10th China-LAC Business Summit, co-sponsored by CCPIT, Hebei Provincial Government, People’s Bank of China and Inter-American Development Bank (IDB), will be held in Tangshan, Hebei province, October 14-15, 2016. The theme of the Summit is “Blazing New Path towards Win-Win Cooperation”.
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