China Plans to Increase Latin America Imports

Beijing, May 18 (Prensa Latina) China plans to import a greater variety of goods from Latin America to balance its foreign trade, considering that the region could export more to this country, a trade official said here.

China is also willing to encourage more companies to invest in nations such as Brazil, Peru and others, according to Wan Jifei, chairman of the Council for Foreign Trade Promotion (CFTP), quoted in local press reports Wednesday.

Funds will be allocated principally to the consumer goods, agriculture and mining sectors, said Wan. The goal is to induce Latin American countries to export more to China and other markets, he said.

Currently, China imports agricultural products, minerals and other natural resources from Latin America, and exports to those nations electronics, machinery, textiles and footwear.

China is one a top trade partner for much of Latin America, which is also the No. 2 destination for Chinese investment, after Asia and the Pacific.

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