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Director of InvestChile meets with Vice-Chairman of China Council for the Promotion of International Trade

The meeting took place as part of the activities of the delegation accompanying President Michelle Bachelet on her official visit to China.

The director of InvestChile, Carlos Álvarez, met today with Yin Zonghua, vice-chairman of the China Council for the Promotion of International Trade (CCPIT), in Beijing to discuss collaboration between the two institutions to increase Chinese investment in Chile. Tomorrow, Invest Chile and the CCPIT will sign an agreement to establish cooperation mechanisms.

“China is our principal trading partner and Chile is China’s second most export market in Latin America. However, despite our good trade relations, Chinese foreign direct investment in Chile has been slow and is a pending challenge,” said Carlos Álvarez. “According to the Chilean Central Bank, the stock of Chinese investment in Chile reaches only US$259 million, a figure that is in contrast with the volume of bilateral trade,” he added.

The meeting took place in the framework of the activities of the delegation accompanying President Michelle Bachelet on her official visit to the People’s Republic of China, prior to her participation in the Belt and Road Forum.

This state visit forms part of the policy of strengthening ties of trade and friendship between the two countries and the signing in November 2016 of 12 cooperation agreements to strengthen their Free Trade Agreement which has been in force since 2005.