Mendoza (Argentina) - China and South American trading bloc Mercosur pledged here to further promote economic cooperation and lift bilateral trade to $200 billion in 2016.
The target was announced in a joint statement between China and Mercosur, or the Common Market of the South, which was released during the 43rd Mercosur summit that concluded here Friday, reported Xinhua.
In order to achieve the goal, the two sides will continue to make concerted efforts to diversify their trade and raise the trade volumes between China and Mercosur members in a balanced manner, said the statement.
China and and Mercosur agreed to facilitate two-way investments and pursue cooperation conducive to enhancing the capabilities of their respective financial institutions.
They also expressed shared concern over the uncertainty and instability of the global economic situation stemming from the crises in developed economies, and pledged to jointly fight trade protectionism and guarantee the predictability of multilateral trade systems.
Established in 1991, Mercosur has four full members -- Argentina, Brazil, Paraguay and Uruguay. Paraguay was not allowed to attend the Mendoza summit after its membership was
suspended due to the impeachment of Paraguayan President Fernando Lugo.
Chinese Ambassador to Argentina Yin Hengmin took part in the summit on behalf of the Chinese government, marking the first time that China was invited to attend a Mercosur summit.
Yin said China's attendance in the meeting and the release of the Sino-Mercosur joint statement demonstrated a new development stage of ties between the two sides and served as a milestone in China-Latin America relations.
| Other Articles: |
 |
World Bank allocates $52.6 bn of assistance in 2012 (30th Jun, 2012) |
|
India's forex reserves down $0.76 billion (30th Jun, 2012) |
|
World Bank cancels credit for Bangladesh bridge project (30th Jun, 2012) |
|
HDFC Bank cuts base rate by 20 bps (30th Jun, 2012) |
|
What keeps rupee under pressure against dollar (30th Jun, 2012) |
|
Canada's economy grows slightly (30th Jun, 2012) |
|
Growth recovery essential for capital inflow: Rangarajan (30th Jun, 2012) |
|
Core industries post 3.8 percent growth in May (30th Jun, 2012) |
|
War breaks out between Oz mining magnate Rinehart and Fairfax over editorial control (29th Jun, 2012) |
|
Extradition still on cards for Kiwi internet millionaire Dotcom despite raid being ruled 'illegal' (29th Jun, 2012) |
|
Murdoch would prefer investing News Corp's billions in US than UK (29th Jun, 2012) |
|
Indian expatriates in UAE 'anguished' over new service tax by Indian Govt. for sending money home (29th Jun, 2012) |
|
Oz watchdog slams telecom firm Telstra for breaching 734,000 customers' privacy (29th Jun, 2012) |
|
Govt. hopeful Indian economy will bounce back from October onwards (29th Jun, 2012) |
|
Susidies to be cut soon, says Rangarajan (29th Jun, 2012) |
|
Comments invited on new tax rules, PM to take final call (29th Jun, 2012) |
|
Satellite surveys to tap India's rubber growing areas (29th Jun, 2012) |
|
Sensex soars 439 points, ends at 2-month high (29th Jun, 2012) |
|
Selective stimulus possible for industry: Rangarajan (29th Jun, 2012) |
|
Sensex surges 381 points; Jindal Steel, Maruti Suzuki rally (29th Jun, 2012) |
|
Govt invites comments on GAAR, PM to take final call (29th Jun, 2012) |
|
Govt. issues clarification on GAAR guidelines, to prevent tax evasion (29th Jun, 2012) |
|
Emirates may invest in 'loss-making' Indian carriers if they get management control (29th Jun, 2012) |
|
'Troubled' RIM set to lay off 5000 workers, delays launch of BlackBerry 10 (29th Jun, 2012) |
|
Sensex at 2 month high on EU hopes, GAAR clarifications (29th Jun, 2012) |
|
Jobs |
Blog |
Yellow Pages |
Games |
Jokes |
Chat |
e-Cards |
Astrology |
Articles |
Recipes |
Send Gifts
Today : Thursday - May 23, 2013, 11:56am (GMT+5.5)
