Deals expected on Xi's trip to Latin America

China and Ecuador, Peru and Chile will sign a number of agreements covering areas including trade, investment, finance and nuclear power during President Xi Jinping's third trip to Latin America next week, according to China's Foreign Ministry.

China has attached great importance to the development potential in Latin America despite the region's economic growth slowed down in recent years under the background of global sluggishness, Vice-Foreign Minister Wang Chao told a news conference on Thursday.

Xi will visit the three countries from next Thursday. He will also attend APEC leaders meetings in Lima, Peru as part of the week-long trip.

While in Ecuador, Xi will talk with Ecuadoran President Rafael Correa, meet reporters, attend the launch ceremony of Chinese-aided projects and witness the signing of agreements, Wang said. It would be the first time that a Chinese president visits Ecuador since the diplomatic ties established 36 years ago.

Zhang Xiangchen, a Ministry of Commerce senior official, said that China will announce assistance plans and issue loans to Ecuador during the president's visit.

China will offer help for the rebuilding works including the construction of hospitals, houses and roads in Ecuador, which was hit by a strong earthquake in April, he said, adding that China has already provided Ecuador $2 million cash and $60 million in materials for earthquake rescue efforts.

Xi will speak at Peru's parliament to describe China's policies toward the Latin American region. He will also have bilateral talks with some leaders of the APEC members during the summit, according to Wang, the vice-foreign minister.

China will also initiate negotiations with Chile over the deepening of the free trade agreement that was signed 11 years ago, he said.

After becoming the Chinese president in March 2013, Xi has already visited Latin America twice, after going to Trinidad and Tobago, Costa Rica and Mexico in 2013, and to Brazil, Argentina, Venezuela and Cuba in July the following year.

China is Peru and Chile's largest trade partner, and the third largest for Ecuador. China is also the main investment source for the three countries. Last year, China's direct investment to the Latin America region reached $126.3 billion, according to the Ministry of Commerce.