China-CELAC deal to drive infrastructure in Latam

Following the completion of a broad commercial and political pact, a number of Latin American and Caribbean countries have deepened their connections with China.

The China-CELAC Joint Action Plan for Cooperation in Key Areas 2022-24 was signed in December by the Community of Latin American and Caribbean States (CELAC), a group of 33 countries that includes regional heavyweights such as Argentina, Colombia, and Mexico.

The seven-point accord lays out goals for increased participation and cooperation between governments, private corporations, and financial institutions in a variety of sectors, including infrastructure development, economic development, and political and security challenges.

While China has made considerable investments in the region over the years, the agreement is likely to usher in a new era of cooperation in a region that has traditionally been dominated by the United States.

The agreement with China is also symptomatic of CELAC’s developing global ties: it builds on prior accords with the United States, Canada, ASEAN, the European Union, Turkey, Japan, and Russia.