Business

Deals worth over $1b inked in China-LAC business summit


By Xinhua
Published : 17 Nov 2021 08:58 PM | Updated : 20 Nov 2021 11:02 AM

Deals worth nearly 1.1 billion U.S. dollars were signed during the 14th China-Latin America and the Caribbean (LAC) Business Summit held in southwest China's Chongqing Municipality.

The two-day summit that concluded Wednesday saw the inking of 18 cooperation agreements including eight deals between Chinese and Latin American companies covering fields of animal husbandry, minerals, automobiles and medical equipment.

Read more: Deals worth over $1b inked in China-LAC business summit

China is the second-largest trading partner of the LAC region, and the annual bilateral trade volume has exceeded 300 billion U.S. dollars for three consecutive years. The LAC region is also the second-largest destination for China's outbound investment, with more than 2,700 China-funded enterprises operating in Latin America and the Caribbean.

First held in 2007, the summit is China's first economic and trade promotion platform for Latin America. The 15th China-LAC Business Summit will be held in Ecuador.

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