Speaking to the Peruvian parliament during a state visit, Hu said China intended to add further momentum to already rapidly growing economic and other ties with South America and the Caribbean.

"China and South America have already become extremely good friends and partners," Hu said.

"On behalf of China's government and people I would like to express that China is willing to work together with South American and Caribbean countries toward an equal, mutually beneficial, total cooperative partnership."

Peru is the last stop on Hu's three-nation swing through Latin America culminating Saturday and Sunday with a 21-member Asia-Pacific summit in Lima.

Beijing, which has reached out aggressively to resource-rich African nations in recent years, now appears to be setting its sights on the emerging economies of Latin America as China's energy and mineral needs soar.

Hu, who finalized negotiations on a free-trade agreement with Peru the day before, signalled China's interest in Peru's mineral wealth, in which Chinese companies have already heavily invested.

Peru was the world's top producer of silver in 2007 and the second biggest producer of copper and zinc, achieving record exports of the minerals last year on increased Asian demand, a government report released Thursday said.

"China and Peru have strong complementarities in the mining sector and there is massive potential for cooperation," Hu earlier told a breakfast with Peruvian and Chinese business leaders.

China's state-run Xinhua news agency reported this month that exports to Latin America grew 52 percent in the first nine months of 2008 to 111.5 billion dollars.

China released a policy paper in early November calling for closer ties on trade, energy and minerals with Latin America and the Caribbean, and Hu's current trip has underscored Beijing's growing influence in the region.

In Cuba this week, Hu handed its Communist ally millions of dollars in aid and promises of closer future trade ties.

Earlier, in democratic Costa Rica, he launched talks on a free trade agreement with President Oscar Arias and signed business deals including one in which China will help modernize Costa Rica's state-owned oil refiner.

Hu's travels also symbolize China's rising influence in a region long considered a diplomatic stronghold of Beijing's rival Taiwan.

Costa Rica last year became the first Central American country to break off Taiwan ties in favor of China, a step that led to the bilateral free-trade talks.

China has steadily won over former Taiwan allies over the years as its growing economic and diplomatic power trumps Cold War alliances.

Taiwan's Economics Minister Yiin Chii-Ming on revealed some frustration over China's inroads, saying the island also would welcome a free trade pact with Peru but indicating Lima had been unresponsive.

"We hope that Peru will engage to reach a free trade agreement with us," he told a news conference in Lima.

Hu, who arrived in Lima on Wednesday, said during his address to Congress that China and Latin America should help each other get through the global financial crisis, although he offered no details.

Related Links
Global Trade News

Memory Foam Mattress Review

SPACE MEDIA NETWORK PROMOTIONS Solar Energy Solutions Tempur-Pedic Mattress Comparison ... Newsletters :: SpaceDaily :: SpaceWar :: TerraDaily :: Energy Daily XML Feeds :: Space News :: Earth News :: War News :: Solar Energy News