German foreign minister offers Bolivia closer partnership

German Foreign Minister Johann Wadephul has urged closer cooperation between Bolivia, Germany and the European Union after the South American country's change of government.

During a visit to the resource-rich nation on Monday, Wadephul said the EU is "waiting for Bolivia to be ready to cooperate," adding that the country now has the chance to start a new chapter based on democracy, the rule of law, reforms and economic renewal.

Bolivia holds the world's largest reserves of lithium, a key component for batteries and electric vehicles. Berlin wants to expand cooperation with the country to reduce its dependence on China.

Wadephul met representatives of the newly elected government, including President Rodrigo Paz Pereira, who is regarded as a moderate reformer, and Foreign Minister Fernando Hugo Aramayo in Santa Cruz.

Santa Cruz, in south-eastern Bolivia, lies roughly 550 kilometres east of the administrative capital La Paz.

Paz, from the Christian Democratic Party, won a run-off election in October, ending almost two decades of left-wing governments. Under former presidents Evo Morales and Luis Arce, Bolivia maintained close ties with China, Russia and Venezuela and largely isolated itself in foreign policy.

Paz is now seeking greater openness towards Western partners such as the United States, Germany and the EU.

The new president inherits big challenges, including a deep economic crisis marked by high inflation, shortages of fuel and food and a lack of medicines.

Bolivia, a landlocked country with around 12 million inhabitants, is one of South America's poorest nations.