SANTIAGO – The Chinese armaments industry is setting its sights on Latin America as a market that could eventually overtake Africa and Asia as the main destination for China’s military exports.
“In the past, China did more business in Africa and Asia, but now we see this as the continent of the future for us. It is a new market, but with great potential,” Rafael Lu, a representative of China North Industries Corporation, or Norinco, told EFE.
Norinco is one of the two Chinese companies taking part this year in Santiago’s International Air & Space Fair, where 550 exhibitors from 57 countries are showcasing the latest advances in aerospace, defense and security.
The number of Asian and Middle Eastern exhibitors at the 2016 edition is double that of the 2014 fair.
“We sell everything,” Norinco’s Lu said. “Munitions for the army from bullets to long-range weapons, to armored and tracked vehicles, that we have been supplying for many years.”
The other Chinese company at the fair is China Electronics Technology Group Corp, a powerhouse in the field of electronics and integrated information systems that already has a presence in Chile, Ecuador and Peru.
“South America is a very important market for us. On one side, our products are of good quality, affordably priced and have competitive technology. I think our products suit Latin America, the company’s marketing director, Wu Tie, told EFE.