国际英语新闻:China, Mercosur eye 200-billion-USD trade in 2016

They also expressed shared concern over the uncertainty and instability of the global economic situation stemming from the crises in developed economies, and pledged to jointly fight trade protectionism and guarantee the predictability of multilateral trade systems.

Established in 1991, Mercosur has four full members -- Argentina, Brazil, Paraguay and Uruguay. Paraguay was not allowed to attend the Mendoza summit after its membership was suspended due to the impeachment of Paraguayan President Fernando Lugo.

Chinese Ambassador to Argentina Yin Hengmin took part in the summit on behalf of the Chinese government, marking the first time that China was invited to attend a Mercosur summit.

Yin said China's attendance in the meeting and the release of the Sino-Mercosur joint statement demonstrated a new development stage of ties between the two sides and served as a milestone in China-Latin America relations.