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Bolivia and China Strengthen Ties To Benefit Industrialization and Trade in National Currencies

In an interview with Bolivia’s state ATB radio Jan. 6, Bolivian Ambassador to China Hugo Siles reported that his nation and China are focusing on “our strategic and bilateral agenda particularly relating to the industrialization policy put forward by President Luis Arce.” This specifically pertains to the industrialization of strategic raw materials for which China is collaborating with the Bolivian Hydrocarbons Ministry, Siles reported. Over the past decade, China has become Bolivia’s most important trading partner and is also involved in building infrastructure projects in the country. To the chagrin of the U.S. and other Western nations, both Chinese and Russian companies have won contracts to industrialize Bolivia’s plentiful lithium deposits, among other resources.

President Arce reports that he will be applying for Bolivia’s membership in the BRICS this year under Russia’s chairmanship, having attended the BRICS summit in Johannesburg last Aug. 22-24.

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