Chongqing: The 14th China-Latin America and the Caribbean (LAC) Business Summit, held in southwest China's Chongqing Municipality, witnessed approximately USD 1.1 billion in deals completed.

According to sources, the two-day conference resulted in the signing of 18 cooperation agreements, including eight between Chinese and Latin American enterprises in the industries of animal husbandry, minerals, vehicles, and medical equipment.

China is the LAC region's second-largest trading partner, with yearly bilateral trade volume exceeding USD300 billion for three years in a row. With over 2,700 China-funded firms operating in Latin America and the Caribbean, the LAC area is also the second-largest target for Chinese outbound investment.

The summit, which began in 2007, is China's first venue for economic and commercial development in Latin America. Ecuador will host the 15th China-Latin America Business Summit.

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