The Economic Commission for Latin America and the Caribbean (CEPAL) said Tuesday that China has boosted the world economy and reactivated the exports of Latin America and the Caribbean.

CEPAL, a United Nations organization based in Chile's capital of Santiago, said in a report released Thursday that China made an "exceptional contribution" to the current cycle of recovery in the world economy.

At present, China is an important consumer of raw material, energy, food and industrial products, benefiting exporters in the above sectors, in particular Argentina, Brazil and Chile.

"China has made important advances in the application of commitments with this organization (WTO) and continues advancing on this path," said CEPAL.

In the realm of Sino-Latin American trade, Chile is looking to reach a free trade agreement with the Asian country so as to become a platform for investment and a bridge for trade between both continents.

With respect to Brazil, CEPAL states that "China is a mighty ally" along with India and Russia in the search for a multipolar world.

Meanwhile, Venezuela has an active interest in trade agreements with China, seeking to diversify foreign sales and investments in order to reduce its economic dependence on the United States.

Source: Xinhua