BEIJING, Jan. 9 (Xinhua) -- The latest deals between China and Latin America could evolve into a new model of South-South cooperation and help bring about a new world order.

The first ministerial meeting of the Forum of China and the Community of Latin American and Caribbean States (CELAC) was a step toward a community of shared destiny.

Addressing the meeting which ended on Friday, Chinese President Xi Jinping suggested all sides treat each other on an equal footing; be flexible and practical, cooperating in pursuit of shared interests and win-win results. Be open and inclusive, said the president. Attend to the interests of all.

The outcome of the meeting includes the Beijing Declaration and a five-year plan nailing down key areas for cooperation.

China's "new normal" offers new opportunities for the world. Latin American and Caribbean states have never been in such a strong position to take advantage of those opportunities.

Latin America has "a historic opportunity to make a qualitative and quantitative leap forward in its economic and trade relations," according to the UN Economic Commission for Latin America and the Caribbean. Infrastructure, innovation, productivity and competitiveness, the commission said, will be the reward for acting in unison to expand ties with China.

As new opportunities emerge, the international order is undergoing a profound adjustment. In the next ten years, China will seek 500 billion U.S dollars of trade and 250 billion U.S. dollars of direct investment in the region. It is the right time for China to work with Latin America and the Caribbean and the right time for development through South-South cooperation.

With closer cooperation between developing countries and China's commitment to international relations which benefit all, fast development of these developing and emerging economies will invigorate the world and drive the international order in a more just and reasonable direction.