China's Latin American ties pose 'no threat to US'

Beijing has brushed off concerns that China's presence in Latin America poses a conflict of interest for the region's relationship with the United States.

China's newly strengthened ties with countries in Latin America and the Caribbean were not exclusive, Foreign Minister Wang Yi said yesterday after a two-day forum with leaders and ministers from about 30 countries in the region.

The countries had used the forum to pass a five-year blueprint for cooperation in 13 areas, including trade, finance, investment, infrastructure, politics, security and technology. They also pledged to "institutionalise" the event. On the first day, President Xi Jinping pledged to double bilateral annual trade with the region to US$500 billion over the next 10 years, increasing China's direct investment to US$250 billion over the same time frame.

Wang said China's cooperation with the region would support developing countries. "It will not affect nor replace cooperation and exchanges between countries in the region and other nations," he said.

The forum's launch was seen by many as an attempt by China to gain influence in an area considered Washington's backyard.

It came ahead of the quadrennial Summits of the Americas, which includes the US and is set to take place in Panama in April. It also follows a visit to the region by Xi last year.