BEIJING - As changes unseen in a century are accelerating and multiple risks are intertwined, only by working together can countries maintain world peace and stability and promote global development and prosperity, Chinese President Xi Jinping said on Tuesday.

There are no winners in tariff wars and trade wars, and bullying and hegemony will only result in self-isolation, he said while delivering a keynote speech at the opening ceremony of the fourth ministerial meeting of the China-CELAC (Community of Latin American and Caribbean States) Forum in Beijing.

China is willing to strengthen solidarity with Latin American and Caribbean countries and continue to support each other on issues concerning their core interests and major concerns, he said.

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In the next three years, China will invite 300 leading officials of political parties from the member states of the CELAC to visit China every year for the exchange of governance experience, said the Chinese leader.

Trade between China and Latin American and Caribbean countries exceeded $500 billion for the first time in 2024, which was more than 40 times that of the beginning of this century, according to him.

Xi said China is willing to work with Latin American and Caribbean countries to implement the Global Development Initiative, firmly safeguard the multilateral trading system, keep the global industrial and supply chains stable and smooth, and safeguard an open and cooperative international environment.

The two sides should strengthen the docking of development strategies and advance high-quality Belt and Road cooperation, he added.

China stands ready to work with Latin American and Caribbean countries to implement the Global Civilization Initiative, and uphold the values of equality, mutual learning, dialogue and inclusiveness among civilizations, he said, adding that China is willing to work with the countries to promote the common values of peace, development, equity, justice, democracy and freedom.

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China is willing to work with the Latin American and Caribbean countries to implement the Global Security Initiative, said the Chinese leader.

Both sides should strengthen cooperation in disaster management, cybersecurity, counter-terrorism, anti-corruption, drug control and combating transnational organized crime, and strive to maintain regional security and stability, he said.

Xi said China has decided to offer a visa-free policy to five countries in Latin America and the Caribbean, and will expand the policy to cover more regional countries in due course.