Foreign and Military Affairs

Bolivia favors business with China

(Xinhua)
Updated: 2011-05-27 13:01

LA PAZ - Bolivia has favorable conditions for doing business with China, but needs to improve its investment environment, a local business leader said Thursday.

"Currently, we are facing an opportunity of further boosting bilateral economic ties as Bolivia is reviewing its investment, forest and export laws, as well as mining rules and other regulations that may influence its economic structure," Bolivian Chamber of Industry, Trade, Services and Tourism (Cainco) President Luis Barbery told Xinhua in an interview.

Barbery named two major ways for Bolivia to conduct business with China: one is to introduce Chinese equipment in Bolivia's industry and construction sectors, and the other is to import products such as electrical appliances or technology equipment from China.

Specifically, Barbery mentioned Chinese vehicles, which could provide yet another import opportunity.

Barbery said the prices of Chinese products are highly competitive, adding the products have found established channels to flow from China to Bolivia.

"We are going to further boost trade with China. It is now our immediate goal," he said.

According to Bolivian government statistics, the bilateral trade reached $361 million in 2010, up 40.5 percent year on year.

He said a group of Bolivian businessmen was impressed by the many business opportunities in China during a recent trip there.

Barbery said the delegation participated in the Canton Fair held in the southern Chinese city of Guangzhou, and had met with Chinese officials and businessmen to strengthen bilateral trade and investment, as the signing of concrete agreements could come soon.

"This shows once more that we are on the right path regarding doing business with China," he said.