Bolivia to expand its chia production in the Chinese market
Bolivia is making efforts to strengthen its presence in the Chinese market and aims to become the world’s leading producer and exporter of chia seeds. This was announced by the Deputy Minister of Foreign Trade, Benjamín Blanco. A delegation of technicians from the Chinese Customs Administration in Bolivia will inspect chia production in the country in order to expedite the procedures for exporting this product to China, which represents a significant market opportunity for Bolivia’s chia production surplus.
China and Russia seek lithium exploitation opportunities in Bolivia
The state-owned company “Yacimientos de Litio Bolivianos” (YLB) has signed an agreement worth 1.435 billion dollars with the Chinese giant Citic Guoan and Russia’s Uranium One Group. They aim to produce and export approximately 50,000 tons of lithium per year starting from 2025.
Bolivia and Chinese Consortium agree to increase investment to millions of dollars for lithium projects
According to information from the Ministry of Hydrocarbons and Energy of Bolivia, the Chinese consortium Catl Brunp & CMOC (CBC) has increased its investment commitment to $1.4 billion for the construction of two lithium production plants in the Uyuni and Coipasa salt flats. This investment marks a milestone in Bolivia’s energy history and solidifies the country as a reference in lithium industrialization.
Chinese ambassador in Bolivia announces plans to open Asian bank branches due to lack of dollars
To address the shortage of dollars in Bolivia, China is exploring the possibility of opening branches of Asian banks in the country. Huang Yazhong, the Chinese ambassador in Bolivia, has stated that efforts are underway to establish Chinese banking entities in Bolivia, primarily to facilitate settlement operations in bilateral trade. Given the significance of China as Bolivia’s trading partner and the limited availability of dollars, the Bolivian government is interested in coordinating with China to explore the option of conducting transactions in local currencies.
Bolivia highlights cooperation with China at world summit
President Luis Arce took part in the II World Summit on Trade and Investment Promotion of the China Council for the Promotion of International Trade, held in Beijing. During his speech, he emphasized the importance of cooperation and dialogue in addressing the economic and social challenges that countries face.