Foreign and Military Affairs

China seeks enhanced trade ties with Chile

(Xinhua)
Updated: 2011-06-10 16:15

SANTIAGO - Chinese Vice-President Xi Jinping said here Thursday that China seeks to expand its trade and investment relations with Chile.

Xi, during a meeting with President Sebastian Pinera, said China and Chile are good friends and partners in a relationship that has withstood various tests since the two countries established diplomatic ties 41 years ago.

China-Chile ties have maintained sound momentum of growth, Xi said. He urged the two countries to advance their bilateral relations to a higher level in the second decade of the 21st century.

To step up their all-round cooperation, Xi proposed that the two countries expand two-way trade and continue to nurture new growth areas.

China and Chile signed a supplementary pact on service trade last August, a component of the China-Chile Free Trade Agreement.

Growth of bilateral trade between China and Chile stays on the fast track as two-way trade volume hit $24.75 billion in 2010, a year-on-year increase of 42.6 percent.

Xi also called on the two sides to promote bilateral investment cooperation.

"We should speed up negotiations of the supplementary agreement on investment, another component of the FTA, in an effort to provide support and facilitation for mutual investment," he said.

Meanwhile, the Chinese vice president said the two countries should deepen cooperation in the agricultural sector, including seed resources, agricultural techniques and joint scientific research.

Finance is another key area of bilateral cooperation, Xi said. He proposed support of the financial institutions of the two countries to enhance cooperation on a variety of projects concerning the economy and trade, mining, agriculture, and forestry.

To strengthen bilateral cooperation in science and technology, Xi said that both countries need to encourage the relevant departments and high-tech enterprises to explore ways of cooperation in the energy sector.

The two countries, Xi said, also should look to cooperate in the areas of bio and information technology and seismological research.

Xi also stressed the importance of China-Chile cooperation amidst increasing global challenges.

He said China is ready to maintain coordination and cooperation with Chile in the United Nations, the World Trade Organization, the Asia-Pacific Economic Cooperation and other international and regional organizations.

Xi added that China is also willing to strengthen communications with Chile on major issues so as to safeguard the interests of both nations and other developing countries.

Pinera, for his part, said that Xi's visit has achieved great results that mark "a major step forward" in bilateral ties between Chile and China.

He said Chile has taken the lead among Latin American countries in developing relations with China, and his government is willing to make more efforts in promoting cooperation between Latin America and Beijing.

The president added that Chile is also ready to work with China to move their relations to a higher level.

After the talks, China and Chile signed a series of cooperative documents in such fields as agriculture, mining, and finance. Xi and Pinera attended the signing ceremonies.

Xi is paying an official visit to Chile, the last leg of a four-nation trip that has already taken him to Italy, Cuba and Uruguay.