Chinese President Xi Jinping also visited Latin America and the Caribbean twice in his first two years in office and has so far held bilateral talks building ties with leaders of all the major states.

When Xi met the CELAC leaders in Beijing last December, he stressed both sides should stick to the cooperative principles of "equality, mutual benefit and win-win results, flexibility and practicality, openness and inclusiveness." He also promised China would "practice the major country diplomatic concept with Chinese characteristics in an in-depth way, implement the correct viewpoint of righteousness; and benefit and establish a community of shared destiny with Latin American and Caribbean countries."

The 2014 Forum in Beijing was also a curtain-raiser of sorts for this year's Mexico business summit. The Forum acknowledged the common challenges being faced by all, and agreements were signed back then aimed at directly influencing bilateral trade, effectively boosting Chinese investments in Latin American and Caribbean states and promoting in-depth China-CELAC cooperation.

As with business and trade everywhere, it isn't all smooth sailing. Commercial disputes do develop from time to time. However, both sides have agreed that any disputes can be settled given time and patience, depending on their respective attitudes towards conflict resolution.

Bilateral China-CELAC trade and economic ties are developing faster than the history of political country-to-country ties and both sides therefore recognize that adjustments will need to be made when and where imbalances occur.

Indeed, the Mexican get-together will have helped enhance greater and closer levels of trade, business and commercial ties based on mutual respect and win-win approaches, which will provide another example for the development of dynamic new models of South-South cooperation in the continuously changing global economic environment.

The author is a columnist with China.org.cn. For more information please visit:http://china.org.cn/opinion/earlbousquet.htm

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