President of the Asian country, Xi Jinping, announced that during the ten years to come, the second world power will invest US$250.000 million in the region. Great expectations for labour markets in Latin America.

China started today an era of strategic relations with Latin America in the I Ministerial Forum with the CELAC

Chinese President, Xi Jinping, state that during the next decade, the second world power will invest US$250.000 million in the region.

Chanceries from over 20 Latin American countries and presidents of Ecuador (Rafael Correa), Venezuela (Nicolás Maduro) and Costa Rica (Luis Guillermo Solís) attended this first edition of the forum, which ended with a declaration that set the basis of future relations between China and Latin America.

Through the CELAC (Community of Latin American and Caribbean States), China aims to go beyond bilateral relationships with Latin American and Caribbean countries and deal with them as a bloc. According to Xi, Latin America is “one of the emerging regions with greatest development potential”.

China’s goal includes achieving bilateral trade with Latin America in ten years, with money flows of over US$500.000 million per year, a figure that would actually double the current numbers and that would consolidate China as the main commercial partner of the region.

The eastern President will develop a broad bilateral cooperation program 2015-19, including infrastructure, finances, trade, energy, public security, manufacture, agriculture and science.

The relationship between China and the region promises to generate deep changes in the regional labour markets.