China and Bolivia strengthen bilateral cooperation and lithium industrialisation

Bolivia and China have strengthened their cooperation in strategic areas such as investment, lithium industrialisation, and bilateral trade, following the recent meeting of the Joint Economic and Commercial Commission between the two countries.

Bolivian President Luis Arce emphasised that the meeting, held at Casa Grande del Pueblo, Bolivia's presidential residence, addressed strategic issues for both countries, including Bolivian exports to China, as well as fostering relations through the BRICS group.

The Bolivian delegation consisted of ministers, while the Chinese delegation was led by Vice Minister of Commerce Wang Shouwen.

Bolivia has the world's largest lithium reserves, with 23 million metric tonnes already certified or in the process of certification, as reported by Prensa Latina, a partner of TV BRICS.

In 2023, Bolivia signed agreements with companies from Russia and China to build lithium carbonate plants in Uyuni and Pastos Grandes, Potosi region, with an investment of US$1.4 billion. These plants are designed to produce 50,000 metric tonnes of lithium carbonate per year using direct lithium extraction (DLE) technology, of which China is the world leader.

Photo: Prensa Latina