WEF official: China is ‘important investor’ in Latin America

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China's influence in Latin America is growing stronger, especially as an important investor, Marisol Argueta de Barillas, senior director and head of Latin America at the World Economic Forum (WEF), said on Friday.

"China's influence to and its ties with Latin America are increasingly stronger. China is no longer just a buyer of raw materials, it has become an important investor in Latin America."

Argueta made the remarks on the sidelines of this year's World Economic Forum on Latin America, which was held in Buenos Aires from April 5 to 7.

The Head of Latin America World Economic Forum Marisol Argueta de Barillas (L) speaks next to Panamanian President Ricardo Martinelli during the opening ceremony of the World Economic Forum on Latin America in Playa Bonita, near Panama City, on April 2, 2014. /VCG Photo

The three-day forum focused on entrepreneurship, development and the fourth industrial revolution.

"We are seeking to understand the resources, the challenges, the opportunities in Latin America at a time when growth is slowing, when there are more social demands, when the fight against poverty must be maintained," added Argueta, a lawyer and El Salvador's former foreign minister from January 2008 to June 2009.

Street vendors prepare to sell raspados, or Mexican shaved ice, at Coyoacan in Mexico City, Mexico. /VCG Photo

In 2015, trade between China and Latin America amounted to 236.5 billion US dollars, marking a 20-fold increase over the previous decade, showed Chinese government figures.

Meanwhile, Argueta highlighted the importance of transferring China’s technology to Latin America.

"As a developing area, it is of utmost importance to prepare us for the fourth industrial revolution, and to be able to make the most of the opportunities that arise to modernize industries ... transform the sources of employment and the jobs themselves," he said.

(Source: Xinhua)

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