In 2015, when the First Ministerial Meeting of the Forum of China and Community of Latin American and Caribbean States (CELAC) took place, Chinese President Xi Jinping set the goal for bilateral trade between China and Latin American and Caribbean (LAC) countries to reach $500 billion within 10 years.

That vision, seen as somewhat bold then, is now reality. Trade between China and LAC countries has more than doubled, jumping from $257 billion in 2013 to $518 billion in 2024.

"I believe that this meeting will yield rich results and send to the world a strong message of our commitment to deepening cooperation for common development," Xi said 10 years ago.

That commitment was reaffirmed this month, during the fourth ministerial meeting, convened in Beijing on May 13. Xi hosted Brazilian President Luiz Inácio Lula da Silva and other leading officials from LAC countries to unveil new initiatives and measures to promote closer ties, and called on the two sides to jointly write a new chapter in building the China-LAC community with a shared future.

Formally established in 2011, CELAC is an intergovernmental mechanism for dialogue and political agreement, which comprises 33 countries in Latin America and the Caribbean.

Roadmap for cooperation 

Xi delivered a keynote speech at the opening ceremony of the meeting, which was attended by guests including President Lula, Colombian President Gustavo Petro, Chilean President Gabriel Boric and New Development Bank President Dilma Rousseff. "In the next three years, to facilitate our exchanges on national governance best practices, China will invite 300 members from political parties of CELAC member states every year to visit China," he said. 

Xi called on both sides to uphold the multilateral trading system and promote cooperation and an open international environment. Apart from cooperation in traditional areas such as infrastructure, agriculture and food, and energy and minerals, he emphasized the importance of expanding cooperation in emerging areas including clean energy, 5G telecommunications, the digital economy and AI.

Xi announced the launch of five programs to advance shared development and revitalization with LAC countries. The programs cover areas including solidarity, civilization and development, peace and people-to-people connectivity.

He announced a 66-billion-yuan ($9 billion) credit line to support LAC countries' development, and told the guests that China would also import more from LAC countries and encourage its firms to boost investment.

To facilitate friendly exchange, China has decided to implement visa exemption for five LAC countries as the first step, with plans to extend this policy to other LAC countries in due course, he said.

China will expand its visa-free policy for ordinary passport holders from Brazil, Argentina, Chile, Peru and Uruguay, from June 1, 2025, to May 31, 2026.

"China and the countries of Latin America and the Caribbean are important members of the Global South. Independence is our glorious tradition, development and revitalization our natural right, and fairness and justice our common pursuit," Xi noted.

The meeting took place against the backdrop of the United States' sweeping tariffs on nations around the world.

Just one day before the event, on May 12, trade talks between China and the U.S. concluded on a positive note. Both countries issued a joint statement emphasizing the importance of building a sustainable, long-term, and mutually beneficial economic and trade relationship.

Chinese Foreign Minister Wang Yi presided over the meeting. Noting that this year is the 10th anniversary of the official launch of the China-CELAC Forum, Wang said over the past decade, the forum has become an important platform for equal dialogue and mutually beneficial cooperation between China and LAC countries.

Wang also said cooperation between China and LAC countries refuses bloc confrontation and advocates openness and win-win results, setting a new model for building a new type of international relations and providing fresh impetus for Global South cooperation.

The meeting adopted the Beijing Declaration and the China-CELAC Joint Action Plan for Cooperation in Key Areas (2025-27). The Beijing Declaration reaffirms both sides' commitment to peace, development and cooperation, while the other outlines specific initiatives in areas such as technology, trade, investment, infrastructure and Belt and Road cooperation, Assistant Foreign Minister Miao Deyu explained at a news briefing on May 11.

Colombia officially joined the Belt and Road Initiative (BRI), a China-proposed initiative to boost connectivity along and beyond the ancient Silk Road routes, on May 14, describing the signing of the agreement as a historic step that could shape the country's course in the 21st century.

"The history of our foreign relations is changing," President Petro wrote in a post on the social media platform X, sharing a video of the signing of the BRI cooperation plan on that same day. "From now on, Colombia will interact with the entire world on a footing of equality and freedom."

Common development 

China has long been the primary buyer of raw materials from LAC countries, importing vast quantities of copper, iron ore and other minerals. Its trade relationship with Brazil, in particular, stands out.

China is Brazil's largest export market by a considerable margin, driven predominantly by commodities including soybeans, iron ore and crude oil. In 2024 alone, China purchased $37 billion worth of soybeans from Brazil, solidifying its role as China's primary soybean supplier, as the world's largest soybean consumer diversifies away from reliance on the U.S.

This deepening economic partnership is part of a broader shift in China-LAC relations. According to Zhou Mi, a senior research fellow at the Chinese Academy of International Trade and Economic Cooperation, the next decade will see economic and trade cooperation between China and LAC countries extend beyond traditional bilateral agreements. "We are likely to witness more regional collaboration and shared development," Zhou told Beijing Review.

LAC countries are expected to pursue diversified growth strategies, tailored to their own unique characteristics and needs. Zhou emphasized that smaller enterprises and regions with relatively low levels of economic openness may gain greater opportunities from these evolving partnerships.

The momentum continued during the China-Brazil Business Forum held in Beijing on May 12, where President Lula underscored the strength of Sino-Brazilian ties. "The relationship between Brazil and China will be unbreakable, as both sides need each other," Lula declared. He added that as long as the two nations work together, the Global South will achieve unprecedented respect on the world stage.

This sentiment is mirrored in the Beijing Declaration. Writing for news portal Brasil 247, Leonardo Attuch, the portal's founder and CEO, described the declaration as opening a "historical window" for LAC countries to envision a new path—not merely a geopolitical shift, but a paradigm shift.

"China—the world's second largest economy, the engine of global growth and a leader in the Global South—doesn't impose, doesn't threaten, doesn't sanction, doesn't invade. It proposes partnerships. It builds bridges. It opens up markets. It respects cultures," Attuch wrote.

Attuch noted that the Beijing Declaration emerged in a multipolar world in transition, where the Global South is preparing to build its own future based on sovereignty and justice.

This perspective is shared by Li Haidong, a professor at the China Foreign Affairs University, who emphasized that China and most LAC countries have similar historical experiences of colonization and now share the common aspiration of economic development. 

"In terms of improving global governance and building a fair international order, the voices of China and LAC countries are both resounding and aligned," Li concluded. BR

(Print Edition Title: A Decade of Development)

Copyedited by G.P. Wilson

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