President's visit strengthens relations with China

(Beijing, May 10, 2012).- During his recent visit to China, Enrique García, president & CEO of CAF - development bank of Latin America - met with senior economic, financial, regional, business and academic leaders to deepen relations between the multilateral bank and the Asian nation. Key meetings were held with Central Bank Vice President Yi Gang; Eximbank Vice President Liange Liu; Deputy Governor of Zhejiang province Gong Zheng; and deputy mayor of Ningbo city Hong jia Xiang.

The CAF president welcomed the significant progress and level achieved in relations in CAF-China relations, as well as the projections for joint work in areas of vital interest for trade and investment, the productive transformation, exchange of experiences in business development especially microenterprises, cooperation between emerging countries and knowledge generation.

García said "the economies of China and Latin America have enjoyed significant sustained economic growth in recent years and have made an effective contribution to mitigating the current global financial situation. Today we are part of the solution and, as such, there is a lot of room for greater cooperation between the two regions and enormous potential for joint work in the new world geography which is gradually shifting toward the Pacific. Our aim is to achieve an intelligent projection and integration of Latin America in Asia and build a more balanced relationship."

The CAF president was one of the hosts and speakers at the Second Conference CAF - Institute of Studies on Latin America of the Academy of Social Sciences (ILAS) with the theme the Changing dynamics of the international economy: alternatives for Latin America and China. Participants in the event shared their knowledge and experience on the main challenges facing the economies of both sides in the current international context. The discussions focused on three key themes: access to financial services, the middle income trap, and the state's role in development.

The positioning of the forum as a relevant space for dialogue and reflection is CAF’s contribution to building bridges between the two regions and playing a catalytic role in building closer relations with China, not only in terms of investment and trade but also at government and academic levels.

The II CAF-ILAS Conference was attended by over 250 government, political, academic and business leaders from China and Latin America, together with the diplomatic corps in Beijing and representatives of international institutions.

Leading participants included former vice president of the Standing Committee of the Popular Assembly of China and president of the Chinese-Latin American Friendship Association, Cheng Siwei; vice president of the China Academy of Social Sciences, Gao Quanli; deputy minister of the International Department of the Central Committee of the Communist Party of China, Yu Hongjun; deputy general director of the Center for Development Research of the State Council, Liu Shijin; deputy general director of the Latin America Department, Ministry of Foreign Affairs, Li Baorong; and ILAS Director General Zheng Bingwen.

Special guests included Mario Pezzini, director of the OECD Development Center; Guillermo Perry, former minister of Finance of Colombia; José Luis Machinea, former minister of Economy of Argentina and former ECLAC executive secretary; Osvaldo Rosales, director of the ECLAC International Trade and Integration Division; Alicia García-Herrero, chief economist for Emerging Markets at BBVA; and Liliana Rojas-Suarez, senior researcher at the Center for Global Development and former chief economist for Latin America at Deutsche Bank.

This activity is part of the cooperation agreement between CAF and the Institute of Latin American Studies of the Chinese Academy of Social Sciences (CASS), the most important think tank on our region in the Asian nation.

The CAF president also visited the cities of Ningbo and Hangzhou where he opened the forum on the Outlook for Economic and Trade Cooperation between Zhejiang province and Latin America, with the presence of authorities from Zhejiang University of International Studies, the Chinese Academy of Social Sciences, senior officials from the provincial Department of Trade, the Association of Social Sciences, the Chamber of Commerce, and emerging entrepreneurs.

This high level forum and the business and government meetings confirmed the enormous importance of strengthening small and medium enterprises in both regions, as well as the potential for trade and exchange of experiences in this area.

"At CAF we are committed to the internationalization of SMEs in Latin America and we have an enduring interest in making an active contribution – through a range of financial and public policy instruments – to creating a winning, efficient and competitive sector in the region and the world," García said.