APEC summit catapults Peru into China’s mainstream news

Peru, China cooperation has bilateral benefits

LIMA, Nov. 18 (Xinhua) — Peru and China have enjoyed friendly relations which allow the development of business opportunities for both sides, Peruvian Prime Minister Salomon Lerner told Xinhua on Friday.

Xinhua News - CN President Hu Jintao with PE President Ollanta Humala

Lerner also confirmed that the Peruvian government doesn’t have intention to review or modify the Free Trade Agreement (FTA) signed between Peru and China, which came into force since 2010.

The 5th China-Latin America Business Summit will be held in Lima on Nov. 21 and 22. In this framework, Lerner said Peru offers “a series of possibilities of investment” and cooperation in many fields.

“I reassert the invitation to the Chinese companies to explore possibilities of association with Peruvian companies,” he added.

Click here to read the full article direct from Xinhua News

Leaders of China, Peru seek new cooperation

HONOLULU – Chinese President Hu Jintao met with Peruvian President Ollanta Humala on Friday, with both sides urging deeper economic cooperation.

Humala also called for more Chinese firms to invest in Peru.

The duo met on the sideline of the 19th Economic Leaders’ Meeting of the Asia-Pacific Economic Cooperation (APEC).

During the meeting, Hu said Sino-Peruvian ties are at a strategic high, and he pledged the two sides would sustain high-level communication on matters of mutual concern

Click here to read the full article direct from The China Daily

Chinese president calls for stronger ties with Peru

HONOLULU, United States, Nov. 11 (Xinhua) — Chinese President Hu Jintao met with his Peruvian counterpart Ollanta Humala Tasso here Friday, and the two pledged to work together to further advance the strategic partnership between the two countries.

The two are in Hawaii to attend the 19th Economic Leaders’ Meeting of the Asia-Pacific Economic Cooperation (APEC) forum scheduled for Saturday and Sunday.

Noting that both China and Peru are important developing countries in the Pacific Rim, Hu said China always treats and handles its relations with Peru from a strategic height. He put forward a four-point proposal to further boost bilateral ties.

Click here to read the full article direct from Xinhua News

Real picture of Sino-Latin America ties [China Daily US Edition]

The author is deputy editor of China Daily US edition. He can be reached at chenweihua@chinadaily.com.cn

The Western media continually criticizes China’s role in Latin America as being “neocolonial” and claims it has an “insatiable demand for commodities”, so I was keen to observe the people’s attitude toward China during my trip to the region recently.

Judging from the enthusiasm for China displayed by government officials, businessmen, academics and ordinary people in Chile, the picture presented by the Western media has been seriously distorted.

At the UN Economic Commission for Latin America and the Caribbean, chiefs and experts attributed the fast trade and investment growth from China as a key factor for Latin America not only surviving, but thriving during the global financial crisis.

The same message was heard from top Chilean officials at the 5th annual meeting of the Chile China Business Council, which drew some 500 government officials and business people.

It is true that commodities are an important part of the trade between China and Latin America. However, that trade benefits not only China, but also Latin America and the rest of the world.

By being the world’s manufacturing workshop, China has paid a high environmental cost. Just half a century ago, that job was done in most of today’s developed countries when they were the global manufacturing center.

Many developed countries have an insatiable demand for China’s rare earth and, of course, the country’s cheap labor. But this never seems to bother the Western media.

In fact, China and Latin America are quickly diversifying and elevating their trade and investment as witnessed by the host of agreements signed by China and Cuba, Uruguay and Chile in the past few days.

China has already become Chile’s largest trade partner. Chinese businesses are increasing their presence in the South America country. The billboards on Santiago streets by automaker BYD and appliance firm Haier, and the Chinese businessmen who do trade, operate malls and run convenience stores are proof of China’s presence.

Both countries share a priority in development. Chile aspires to become a developed country and China wants to become a xiaokang (well-off ) society.

Chilean President Sabastian Pinera made constant reminders that the two countries are very close despite the geographical distance between them.

The mood among the ordinary people I met in Chile was also favorable to China. I have never heard the word “Welcome” as often as I did in Chile. Ordinary Chileans I met in cafes, museums, parks in Santiago and Pablo Neruda’s colorful and hilly neighborhood in historic Valparaiso greeted me with “Welcome to Chile”.

What Pinera said was true. China and Chile are very close. In South America, Chile was the first country to recognize China’s market economy status, the first to sign a free trade agreement with China, the first to establish diplomatic ties with China and the first to support China’s WTO accession.

Of course, China and Latin American countries, all belong to the developing world and are going to compete with each other. But we all know that competition is a good thing and there is no need to distort the picture simply because of competition.

Latin American nations are independent countries and they are no one’s backyard. For China and Chile, they are really neighbor countries separated only by the Pacific. You can literally fly from Beijing to Santiago without passing over any other country.

James Baker III: China’s Rise No Threat

HOUSTON, March 24, 2011 — Former US Secretary of State James Baker III under President Ronald Reagan receives an award from the Asia Society and argues in his speech that American fear-mongering about China is “dangerously wrong” at Asia Society Texas Center’s 2011 Tiger Ball. (12 min., 24 sec.)

Also special thanks to http://wanderingchina.wordpress.com/ for first bringing this video to my attention.

Shanghai Expo, helping to bridge China & Latin America

Few articles which caught my attention in English language press about the Shanghai Expo & Latin America. Please click the article titles to visit Andina, where you can read the full articles

Peru partners with other countries to seduce China at Expo Shanghai 2010

Peru organizes joint activities with Colombia, Brazil and United States at Shanghai World Exposition, in order to promote themselves better and attract capital and tourists.

Peru to be promoted as luxury tourist destination in Expo Shanghai

Peru’s Export and Tourism Promotion Board (Promperu) will participate in Asia Luxury Travel Market (ALTM), a Reed Travel Exhibitions show to be held in Shanghai, China, on June 14-18 within the framework of Expo Shanghai 2010 set to kick off on Saturday.

Peruvian pavilion at Shanghai Expo to attract some 40000 visitors on first day

Some 40000 visitors of different nationalities and ages are expected to visit the Peruvian pavilion at Shanghai World Expo, which officially opened today, May 1, Peru’s Foreign Ministry reported.

Asia in Focus

APEC nations call for free trade

Nov 14 (REUTERS) – APEC leaders tackle climate change negotiations and economic integration, as Japanese Prime Minister Yukio Hatoyama stresses the need for free trade zone.
Penny Tweedie, Reuters

Obama seeks stronger links in Asia

Nov 14 (REUTERS) – United States President Barack Obama pushes for greater U.S. involvement in Asia, welcoming a “strong, prosperous” China.
Penny Tweedie, Reuters.

China to lead Somalia piracy fight

Nov 13 (REUTERS) – China will assume a leadership role in an international coalition fighting maritime piracy off Somalia, signaling its navy’s growing ambitions beyond Chinese waters.
Stefanie McIntyre reports.

APEC ministers sum up recovery in one sentence – Reuters

Nov 12 (Reuters) – Finance ministers take a punch at describing the economic recovery in one word or sentence.

The consensus among 21-member Asia Pacific Economic Cooperation (APEC) finance ministers was that the economic situation is better, but U.S. Treasury Secretary Timothy Geithner said it will take time to bring unemployment down and early recovery efforts must be supported.

SOUNDBITES:

UNITED STATES TREASURY SECRETARY TIMOTHY GEITHNER

CANADIAN FINANCE MINISTER JIM FLAHERTY

INDONESIAN FINANCE MINISTER SRI MULYANI INDRAWATI
PAPUA NEW GUINEA VICE MINISTER FOR TREASURY AND FINANCE

HONG KONG FINANCIAL SECRETARY JOHN TSANG

MALAYSIAN DEPUTY FINANCE MINISTER AHMAD HUSNI

NEW ZEALAND FINANCE MINISTER BILL ENGLISH

SINGAPORE FINANCE MINISTER THARMAN SHANMUGARATNAM

TAIWAN MINISTER OF FINANCE LEE SUSH-DER

SOUTH KOREAN DEPUTY MINISTER FOR INTERNATIONAL AFFAIRS

RUSSIAN DEPUTY FINANCE MINISTER

JAPAN PARLIAMENTARY SECRETARY FOR FINANCE

CHILEAN VICE MINISTER FOR FINANCE

Newswire: Asia-Pacific

international.gc.ca

U.S.’s Treasury’s Geithner to attend Singapore APEC meeting – Reuters

WASHINGTON, Oct 23 (Reuters) – U.S. Treasury Secretary Timothy Geithner travels to Singapore to attend a meeting of finance ministers who are members of the Asia Pacific Economic Cooperation forum for one day next month.

China Minmetals eyes gold mines in Australia, Canada – Reuters

* Company to start construction at Peru copper mine next yr

* Production at Peru mine scheduled to begin in 2012 (Adds background, bylines)

By Rujun Shen and Joseph Chaney

TIANJIN, Oct 22 (Reuters) – Chinese state-owned metals trader China Minmetals Corp. [CHMIN.UL] is looking to buy gold mines in Australia and Canada, a senior executive said on Thursday.

Huang Dongmei, deputy general manager of China Minmetals Exploration and Development Ltd, made the remarks at an industry forum in China’s port city of Tianjin.

Separately, a Minmetals executive at the China Mining conference here said on Wednesday that the company would launch construction at its Galeno copper mine in Peru next year, with production due to start in 2012. [ID:nPEK200915]

Ecuador Seeks Cash to End Three-Year Oil Output Drop (Update1) – Bloomberg

Oct. 27 (Bloomberg) — Ecuador, the smallest member of the Organization of Petroleum Exporting Countries, is seeking to attract investment from state-run companies in Latin America, Russia and China to reverse a three-year drop in crude output.

Ecuador is forging alliances to explore and produce crude as lower investment by privately-owned companies causes production to drop as much as 6.6 percent this year, Julio Gonzalez, undersecretary of hydrocarbons policy at the Ministry of Non-Renewable Natural Resources, said in an interview.

“The government’s priority is to do this with state companies,” Gonzalez said yesterday at the ministry in Quito.

Kevin Rudd’s vision for Asia-Pacific community evolves – The Australian

KEVIN Rudd’s concept of an Asia-Pacific community by 2020 has been canvassed at the weekend’s East Asia summit in Thailand together with a rival vision from new Japanese leader Yukio Hatoyama.

East Asian leaders meeting in Hua Hin yesterday discussed the broad regional architecture, with the Prime Minister promoting his plan both at the formal leaders’ meeting and in a series on bilateral discussions.

“What I detect across the region is an openness to a discussion about how we evolve our regional architecture into the future,” Mr Rudd said yesterday.

“It’s important that we are in a conscious discussion and a conscious process to evolve options for regional institutions in the future rather than just sitting back and waiting for big problems to emerge.”

Peruvian Micro-Entrepreneurs head to China

It’s been awhile since CSA last ventured into the world of MicroFinance.  Well today some news caught my attention.

About sixteen Peruvian Micro-Entrepreneurs (if that’s the correct term to call them) from various sectors will travel to Guangzhou, China to participate in the 106^th Guangzhou Import and Export fair.  With a total of 209 countries in attendance, and thousands of exhibitors, this is a big deal for these small Peruvian businesses.

I question if these business are truly worthy of being called the products of micro-finance.  I hope that they are, but my gut is telling me it’s quite possible corruption and classic South American favoritism probably led the Peruvian government to carefully handpick a few to send to China.

Ministra de la Producción, Mercedes Aráoz, inauguró Feria de Beneficios y Oportunidades de Foncopés en IPAE. Foto: ANDINA/Norman Córdova.

On the other hand, if they are truly small micro-enterprises which earned this trip to China through participating in a micro-finance program of some sort, this would be a case and point example of the potential of micro-finance institutions to empower the poor with the tools they need to succeed.

If you can read Spanish please click here to access the article which served the basis for this post.

Newswire: South-South / Emerging Market Cooperation

[China - ASEAN] - China to Boost Cooperation With Asean on Investments – Bloomberg

China wants to boost cooperation with members of the Association of Southeast Asian Nations to develop trade and increase investment, said Chinese Commerce Minister Chen Deming.

[ASEAN] - Five Asean Nations May Form Rice-Trade Body, Thai Official Says - Bloomberg

Five Southeast Asian nations may set up a rice-trade association next year to cooperate in stabilizing rice prices, a Thai official said.

Thailand, Vietnam, Cambodia, Laos and Myanmar will also cooperate on other issues related to food security and production, said Chiya Yimvilai, a spokesman at a meeting of Asean economic ministers in Bangkok. The countries would also work together on developing rice products, he said.

[Venezuela - Russia] – PDVSA, Russian Group to Start $30 Billion Oil Venture – Bloomberg

Petroleos de Venezuela SA and a group of Russian oil companies plan to spend $30 billion on a joint venture in Venezuela’s Orinoco region.

The 40-year venture will seek to produce crude in the Junin 6 area and may expand to other Orinoco blocks, Russian Deputy Prime Minister Igor Sechin told reporters in St. Petersburg today after meeting with Venezuelan Vice President Ramon Carrizalez. Russian investors will include OAO Gazprom, OAO Rosneft, OAO Lukoil, TNK-BP and OAO Surgutneftegaz. The venture will be signed “in the coming months,” Sechin said.

[Mexico - Uruguay] – Mexico/Uruguay sign strategic association accord and advance trade – MecroPress

Mexico president Felipe Calderón and Uruguay’s Tabare Vazquez signed on Friday in Montevideo a Strategic Association accord to strengthen political dialogue and bilateral trade relations in the framework of the 2004 free trade agreement.

[Mexico - Colombia - Venezuela - Ecuador] - Mexico offers to mediate between Colombia and Venezuela and Ecuador – MecroPress
Mexican president Felipe Calderón on an official visit to Colombia offered his country’s mediation in the conflict between Bogotá and neighbouring Ecuador and Venezuela.

[Peru - Brazil] - Brazilian President to visit Peru to strengthen strategic alliance – Andina
The next arrival to Lima of Brazilian President Luiz Inacio Lula da Silva will contribute to create a new strategic alliance to face Asian markets when signing several trade agreements, the President of Peru-Brazil Integration Chamber Miguel Vega Alvear.

“The arrival of Brazilian President will strengthen the progress achieved up to now in this Peru-Brazil strategic alliance and it will create a new stage in which both countries can face Asia-Pacific markets,”

a2a_linkname=”Newswire – South South Emerging Market Cooperation”;a2a_linkurl=”http://chinasouthamerica.blogspot.com/2009/08/newswire-south-south-emerging-market.html”;

Newswire: South-South Cooperation

[Peru – Brazil] – Eletrobrás sets sights on Peruvian generator – BNAmericas

Brazilian federal power holding company Eletrobrás (NYSE: EBR) is planning to buy a Peruvian generator to participate in an upcoming hydro auction in Peru, company CEO José Antonio Muniz Lopes told journalists. The executive declined to say which generator Eletrobrás was looking to acquire but said the purchase was essential for the Brazilian holding group to operate in Peru.

[Peru – Brazil] – Brazil, Peru Work Out Details of Hydro Plants – Latin American Herald

Energy ministers from Brazil and Peru announced details of plans for several hydroelectric plants to be built in the Andean nation, saying after a meeting that 80 percent of the energy generated by the stations would go to Brazil and the rest to Peru.

Both partners will have the right to sell their respective energy quotas to other South American countries, Brazilian Mines and Energy Minister Edison Lobao said Friday after a meeting in Rio de Janeiro with his Peruvian counterpart, Pedro Sanchez.

The first five power stations – to be built in Peru’s eastern lowlands at a cost of between $12-15 billion – will generate a combined total of 6,000 megawatts annually once they come on stream in 2015.

[Peru – South Korea] - Peru, S Korea examine tomorrow progress of APEC bilateral agreements – Andina

Peru and South Korea examine on Wednesday the progress of the bilateral agreements achieved by Presidents Alan Garcia and Lee Myung-bak during the summit of leaders of the Asia Pacific Economic Cooperation (APEC) held in Lima in November 2008, the Korean Embassy reported. “The agreement achieved last year includes mutual cooperation in oil, mineral and natural gas sectors”, the Ambassy reported.

[Peru – Japan] - Peru, JICA to invest US$ 23.3 million in 6 new docks in Peru – Andina

Peru’s Government and the Japan International Cooperation Agency (JICA) will invest 70 million soles (around 23.7 million dollars) in the construction of 6 new docks located along the Peruvian coast, reported today Production Minister Mercedez Araoz.

[Venezuela – Russia] – Russia Promotes “Energy Alliance” with Venezuela – Latin American Herald

Prime Minister Vladimir Putin said Tuesday he was ready to promote an “energy alliance” of global oil giants Russia and Venezuela, and confirmed his willingness to study Caracas’ requests for additional arms purchases.

Putin told Venezuelan Energy Minister Rafael Ramirez that Russia will employ “the most modern equipment and technologies” to carry out plans for cooperation with Venezuela in the oil and gas sector.

[Venezuela – Brazil] – Brazil To Export Coffee Immediately to Venezuela – Latin American Herald

The accord was struck by representatives of the ministry and the state-run firm Cafe Venezuela last Friday and represents $4.1 million in revenue for small producers and family cooperatives in southeastern Brazil.