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Latin America's Trade in Services Market Is "Closer to China"

Because of the similar markets and strong complementarities, the trade in services between China and Latin America has rapidly developed in recent years, which has added new impetus to the development of both sides. The 11th China Latin American Enterprises Summit opened in Punta Del Este of Uruguay on December 1 of local time and more than 2,300 government officials, entrepreneurs and representatives from international financial institutions from China and Latin American countries participated in the Summit.

Uruguay is an "old friend” of the CIFTIS. On the eve of the 2017 Beijing International Fair for Trade in Services, Fernando Lugris, Ambassador of Uruguay to China said in an interview that it was hoped that this session of the CIFTIS let everyone know that Uruguay is a big country in global export of services and also hoped that in the export of services, Uruguay undertakes cooperation with China including the areas such as the media, economy, electronic information, internet and enterprise services. Lugris said that he hoped China would be able to use Uruguay as a hub for export to Latin America.

As China's first institutional platform for economic and trade cooperation with Latin America, since the first summit held in 2007, the Sino-Latin American Entrepreneur Summit has become the most important business cooperation platform between China and Latin American countries. This Summit was jointly held by CCPIT, Uruguay Investment Promotion Bureau of the Twenty-First Century and the Inter-American Development Bank focusing on the topics such as the vision of cooperation between China and Latin America and the development of infrastructure of China and Latin America under the framework of the "Belt and Road", and parallel sessions were held on the themes such as the agriculture, economic and trade, clean and renewable energy and E-commerce.

At the link of the enterprise docking and discussion, Xing Fengliang, Chairman of the Board of Directors of CGC Banking Equipment Co. Ltd and the representative of the Chinese entrepreneurs, said in terms of the Chinese manufacturing that compared with the industrial powers, the advantages of the Chinese manufacturing industry are mainly embodied in the large complex equipment areas such as the communication equipment, high-speed railway and nuclear power equipment, but the core components areas which need support of cutting-edge technology still relatively lack advantages. “In the process of "going out", especially in the manufacturing chain, the cutting-edge technology and innovation are the key to future development of Chinese enterprises”, from "made in China" to "intelligent manufacturing in China", Xing Fengliang said.