A Beijing declaration and a joint action plan for cooperation in key areas from 2025 to 2027 were adopted on Tuesday at the fourth ministerial meeting of the China-Community of Latin American and Caribbean States Forum.

The two sides will implement more than 100 projects over the next three years, which is the priority of their cooperation under the framework of the forum, Foreign Minister Wang Yi told reporters on Tuesday evening.

China will also initiate 20 measures to support the development of the countries in the region, he said.

China and LAC countries will together form a superlarge market of two billion people, he said, adding that it will provide a new engine for their respective growth and open new opportunities for global prosperity.

During the ministerial meeting, Wang noted that China and Latin America are separated by vast distances, and said "what brings us together is not the geopolitical chessboard nor the games of great power rivalry, but our shared commitment to fairness and justice and our common pursuit of modernization".

The China-LAC relationship rejects bloc confrontation and advocates openness and win-win cooperation, he said, adding that it has set a model for building a new type of international relations and has injected fresh momentum into Global South cooperation.

"History and reality remind us that in the face of unilateral hegemony, compromise and appeasement are not the way forward, and only by standing united can we earn respect," Wang said, calling on the two sides to jointly safeguard their legitimate rights and interests.

Over the past 10 years, strategic mutual trust between the two sides has deepened, practical cooperation has continuously expanded, and the positive dynamics of friendship have grown steadily, he said.

To date, over 80 percent of the $35 billion financing arrangement package has been implemented, and a special loan for infrastructure cooperation has exceeded $20 billion, according to Wang.

Major projects, such as the Chancay Port in Peru, and large-scale industrial parks have been completed, while cooperation is thriving in new areas such as renewable energy, photovoltaics, electric vehicles, digital technology and cross-border e-commerce, he said.

China is willing to enhance cooperation with LAC countries under the Belt and Road Initiative and the Global Development Initiative, and will continue to create opportunities for enterprises from both sides to further expand cooperation, he added.

During the meeting, foreign ministers of LAC countries expressed their hope to learn from China's experience and expand all-around cooperation.

They also voiced their firm commitment to the one-China principle and pledged to join hands with China to uphold the basic norms governing international relations, including sovereign equality, noninterference in other countries' internal affairs and multilateralism.