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Latin America, China should make full use of e-commerce, vice minister says

President of Uruguay, Tabare Vazquez (C), participates in the opening of the eleventh edition of the China-Latin America and the Caribbean Business Summit (China-LAC) in Punta del Este, Uruguay, 01 December 2017. More than 1,000 Chinese, Latin American and Caribbean entrepreneurs, and high authorities of both regions participate in the event. EPA/Raul Martinez

Punta del Este, Uruguay, Dec 1 (EFE).- Latin American countries should work in a coordinated manner to benefit from the advantages that e-commerce with China offers, the Uruguayan vice minister of economy and finance told EFE on Friday at the China LAC business summit.

The 11th edition of the China LAC business summit is currently being held in the Uruguayan city of Punta del Este.

“China has a middle class that is continuously demanding better quality products and hence there are greater opportunities for Latin American countries, which need to work in a coordinated manner and offer new markets to the companies which allow them to benefit from the advantages that e-commerce offers,” explained Pablo Ferrari.

In Ferrari’s opinion, public administration and the support of foreign trade agencies like Uruguay XXI are fundamental for offering companies support in the fields of technological, legal and fiscal infrastructure so that they grow in this sector.

The president of the Chinese Energies Engineering Corporation Limited, Dong Bin, speaks during the XI edition of the China-Latin America and the Caribbean business summit (China-LAC), held in Punta del Este, Uruguay, on 1 December 2017, where meet more than 1,000 Chinese, Latin American and Caribbean entrepreneurs, and high authorities of both regions. EPA/Raúl Martínez

E-commerce as an engine of growth of trade between China and Latin America was the focus of one of the panels at the current China LAC summit, which will end on Saturday and boasts the presence of more than 2,500 entrepreneurs, 7,000 of whom have come from China.

In the case of the host country, Ferrari highlighted the fact that given the social, legal and political stability of the country and its tax regimes, it could work as a great launching pad for providing services in the digital economy sector for China.

In this context, he added that Uruguay could become a hub for the region and an important entry point for Chinese products in electronic transactions.

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