CAF Strengthens its Position in China

(Beijing, May 2, 2014). From the informal to the developed: Urbanization, Entrepreneurship and Competitiveness in China and Latin America served as the central theme of the IV CAF-ILAS Conference held on April 28 in Beijing, in which Enrique Garcia, executive president of CAF-development bank of Latin America-stressed the need to expand the strategic relationship between China and Latin America "on the basis of a common, long-term agenda  that is both dynamic and balanced." 

The event served as a platform for analysis and debate from a comparative perspective, focusing on research conducted by CAF, ILAS and OECD on entrepreneurship, housing policies and competitiveness in Latin America and China. Public officials, entrepreneurs and academics from both Latin America and China participated in the dialogue. 

For several years now, the CAF-ILAS Conference has become the most noteworthy academic event focusing on Latin American affairs  with Beijing as well as a stage for dialogue and reflection on relations between the two regions. ILAS Director General, Zheng Bingwen, moderated the inaugural session, which saw the participation of Enrique Garcia, CAF Executive President; Cheng Siwei, vice-chairman of the Standing Committee of the 9th and 10th National People's Congress of China; Cao Yuanzheng, Bank of China Chief Economist; and Mario Pezzini, director of the OECD Development Centre. 

Zhang Kunsheng, assistant minister for Latin American Affairs at China's Ministry of Foreign Affairs, oversaw the closing ceremonies. 

The gathering also saw the participation in the Sitao Xu, The Economist Group's representative in China; Long Guoqiang, a representative from the State Council of China's Development Center; Wu Baiyi, ILAS Deputy Director; and a group of more than 20 renowned Chinese and Latin American academics and analysts. 

Investment and Trade 

Under the framework of the Beijing event, CAF's delegation met with senior officials of the State Reform and Development Commission of China, the Ministry of Foreign Affairs, Eximbank, China Investment Corporation, entrepreneurs and investors, with the aim of strengthening CAF's role as catalyst as well as bridge for trade and investment with the Asian nation. 

Enrique Garcia was the guest of honor of the Chinese government at a work session and dinner hosted at the Diao Yu Tai state house, a workshop that sought to strengthen relations among Chinese economic entities interested in Latin American markets. 

In conjunction with the Eximbank, participants also gathered for the I CAF-EXIM China Seminar on investment and trade between Latin America and China, which took place on April 29.

At the seminar, which gathered government and business leaders, topics under analysis included opportunities and challenges facing emerging-market economies from a global perspective. Likewise, participants explored timely opportunities for investment and trade in both regions. 

Participants included Li Ruogu, president of the Eximbank; Hugo Sarmiento, CAF Corporate Vice President of Finance; Fei Zhaohui, Department of Eximbank General Manager of International Business; Oswaldo Rosales, ECLAC International Trade and Integration Director; Germán Ríos, CAF Director of Strategic Relations; Dong Wei, director of Latin America at China's Ministry of Foreign Trade; Alberto Vollmer, president of Ron Santa Teresa; Rodolfo Berisso, vice president of Pan American Energy; Wang Chunhong, director of the People's Bank of China's Monetary Cooperation unit; Alicia Garcia Herrero, BBVA Chief Economist; Chen Taotao, Tsinghua University School of Economics and Management professor. 

"This visit strengthened CAF's positioning in China. We developed a multidimensional approach with key political, diplomatic, economic and academic leaders seeking to support Latin American efforts to comprehensively and efficiently engage with this emerging power, with an in-depth knowledge of its  challenges and potential," said Garcia.