It’s informed that in order to implement the “Going Out” strategy and expand the market in Latin America, the delegation composed of more than 50 Hubei-based businesses and companies led by China Council for the Promotion of International Trade, Hubei Sub-Council will go to Brazil, Costa Rica and Peru from November 21 to 30 to strengthen cooperation with them in such fields as economy and trade.

　　It’s said that six prefecture-level cities in Hubei including Yichang, Xiangyang, Huangshi, Shiyan, Huanggang and En’shi, together with several provincial departments, such as Hubei Economy and Information Technology Commission, Hubei Tourism Administration, Hubei Supply and Marketing Cooperative and Hubei Federation of Industry and Commerce will be part of the delegation and take part in this activity of “Going into the Latin America”.

　　It’s reported that the bilateral trade between China and Latin America countries is showing the trend of accelerated growth in recent years, and Latin America is generally regarded as one of the world’s fastest growing regions in economy. In 2007, the total volume of trade of both sides for the first time exceeded 100 billion U.S. dollars while that figure mounted to as much as 261.24 billion U.S. dollars last year.

　　According to Zhou Caijuan, President of China Council for the Promotion of International Trade, Hubei Sub-Council, since both economies are highly complementary to each other, there exists vast potential for cooperation between China and Latin America countries in a great many fields, for example mineral resources, infrastructure, machinery, automobile parts, chemicals, medicine and agriculture. What’s more, the competitive enterprises selected from Hubei Province are all closely related to the fields mentioned above, such as Dongfeng Motor Corporation, Hubei Huachangda Intelligence Equipment Co., Ltd, Han’s Energy Group, Hubei Xinyegang Group, etc.

　　During the activity, the delegation will hold the Hubei Investment and Trade Fair in Brazil, negotiate face to face with entrepreneurs in Peru and participate in the “Seventh China-LAC Business Submit Exhibition” held in Costa Rica. It’s said that the “Forum of China-LAC Urban Development” will be set up by the Exhibition, during which members of the delegation from Shiyan, Huangshi and Xiangyang will be present at the forum as special guests and deliver speeches. （Reporter from Hubei Daily Lei Chuang, Correspondent Li Wenwen）