Chinese exports of traditional medicine to Latin American markets are increasing this year
In 2011, the value of Chinese traditional medicine exports to Latin America increased by 141.12% to USD $196 million. Medicinal extracts account for 87.78% total Chinese traditional medicine exports to the region. Because Chinese medicine exports to Asian markets are no longer growing at high rates, and because pharmaceutical markets in Europe and North America impose restrictions on medicinal imports, it is increasingly important for the Chinese traditional medicine industry to explore new markets, including those in Latin America. The Latin American market is ideal because the region’s pharmaceutical industries are relatively underdeveloped and because Latin Americans generally consume less medicine than consumers in Asia or the West, for example. The region’s weak pharmaceutical regulatory system provides an opportunity for a major expansion of traditional Chinese medicine exports. Also, the low cost of traditional Chinese medicine is appealing to Latin American consumers. Major destinations for Chinese medicine exports include Mexico, Chile, Brazil, Peru, Colombia and Argentina.
Chinese Ambassador to Bolivia: CITIC Guoan Group Corp will invest in a lithium mine this year
Chinese Ambassador to Bolivia, Shen Zhiliang, said in an interview with an Associated Press reporter that Chinese companies will increase investment in Bolivia’s mining industry, with some involved in large-scale mineral extraction projects. He also stated that the CITIC Guoan Group Corp plans to invest in a Bolivian lithium mine this year. According to Shen, CITIC Group project signed a cooperation agreement with the Bolivian government last year related to this project. According to Shen, China has already imported zinc and silver from Bolivia, but this is just the beginning of Chinese investment in Bolivia’s mining sector. Shen added that most Chinese investment in the region is concentrated in Venezuela, Ecuador, Peru, Argentina and Brazil, but that he expects more and more Chinese companies to pursue Bolivian mining projects in the future. CITIC Guoan Group Corp will participate with companies from Japan, France, Korea and Australia in the bidding process for the Bolivian lithium mining project.
China and Argentina signed a financial cooperation agreement
Argentine government officials, representatives from the China Development Bank (CDB), and representatives from Argentina’s Bank for Investment and Foreign Trade (BICE) signed a financial cooperation agreement. According to the the agreement, CDB will provide BICE with a total of USD $200 million in long-term loans for industrial infrastructure construction, renewable energy development and other projects. Argentina’s Minister of Economy signed the agreement on behalf of Argentine government.
China and IDB to launch $1bn fund for Latin America
The Inter-American Development Bank (IDB) and China Export-Import Bank announced that they will set up a joint investment fund in 2012 for the IDB’s 26 Latin America and the Caribbean member countries. The fund is estimated to be USD $1 billion. It will make equity investments in the region and finance public and private sector projects. China Export-Import Bank and IDB will invest USD $150 million each, with the remainder of funds being raised through the market. According to IDB President Luis Alberto Moreno, this new platform will promote stronger investment ties between China and Latin America and help the region overcome some of its most important development challenges. Liu Liange, vice president of Export-Import Bank of China, said that there is a growing need and interest in technological cooperation between China and Latin America and the Caribbean. The investment fund reflects the efforts of the two sides to promote economic prosperity and development in Latin America and the Caribbean, as well as to promote regional economic and technical cooperation.
Jiangsu Province Federation of Trade Unions and Brazil Trade Union Delegation of Minas Gerais state sign a memorandum of cooperation
Deputy director of the Jiangsu province People’s Congress and president of the provincial trade union, Zhang Yan, attended a signing ceremony with the director of the trade union of Brazilian state Minas Gerais. Since Jiangsu province established relations with Minas Gerais in 1996, both have had supported exchanges in various fields. The two sides will now carry out a broader exchanges, including economic and technological exchange, cultural and educational exchanges, and cooperation to further enhance mutual understanding and friendship of state trade unions and promote mutual economic and social development.
CNR trams operational in Brazil
Trams exported by China’s Changchun Railway Vehicles Ltd (CNR) to Rio de Janeiro State are now operational. This is the first time that CNR has entered the South American market. Rio de Janeiro State Vice-Governor Luiz Fernando de Sousa and other officials attended the celebration. CNR vehicles are characterized by advanced technology, smooth operation, low noise, and comfort. The project was approved in the Great Hall of the People in Beijing on June 30, 2009. Also in 2009, CNR signed a subway vehicle contract with Rio. CNR subway vehicles will be operational for Brazil’s 2014 World Cup and 2016 Summer Olympics.