The reporter learned from the Ministry of Commerce on the 13th that in recent years, China's economic and trade cooperation with Latin American and Caribbean countries has continued to expand and achieved a series of fruitful results.
Bilateral trade continues to grow. In 2024, China-Latin America trade volume was US$518.47 billion, a record high, a year-on-year increase of 6.0%. From January to March 2025, the total trade volume between China and Latin America was US$118.3 billion, of which China exported US$65.73 billion and China imported US$52.58 billion.
Mutual investment continues to expand. In 2024, China's direct investment flow in Latin America was US$14.71 billion. From January to March 2025, China's direct investment in the entire industry was US$270 million. As of March 2025, Latin American countries have invested and established 37,000 enterprises in China.
Contracting projects continue to increase. Venezuela, Brazil, Ecuador, Argentina and Mexico are the main markets for Chinese companies to carry out contracting engineering business. As of the end of 2024, China has signed a total of US$300.61 billion in contracted projects in Latin America and completed a turnover of US$190.78 billion. From January to March 2025, China signed a new contract contract of US$14.68 billion, with a turnover of US$5.99 billion.
The construction of the free trade pilot zone has achieved fruitful results. In January and May 2024, the China-Nepal (Caragua) and China-Europe (Guador) Free Trade Agreements officially came into effect respectively. The Protocol to Upgrade the Free Trade Agreement between China and Chile and the Free Trade Agreement with Costa Rica were well implemented, and the negotiations to Upgrade the Free Trade Agreement with Peru were substantial.
