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President Bachelet concludes successful official visit to China by signing some ten economic agreements

  • The cooperation agreements will deepen bilateral relations in agriculture, science, technology, investment and innovation.
  • In addition, Chile joined the Asian Infrastructure Investment Bank (AIIB).

President Michelle Bachelet led a successful commercial mission to China. The state visit began with a bilateral meeting with China’s President Xi Jinping during which some ten bilateral commercial agreements were signed relating to trade, science, tourism and investment.

Investment attraction collaboration agreement
During this meeting, the director of InvestChile, Carlos Álvarez, signed a cooperation agreement with the China Council for the Promotion of International Trade (CCPIT), a body chaired by Yin Zonghua. The agreement envisages an annual plan of work and the exchange of relevant information for activities to promote foreign investment between Chile and China.

“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 Álvarez.

 

Watch a video of the signing of the China-Chile cooperation agreements.

 

Packed schedule in China

President Bachelet also confirmed that Chile is joining the Asian Infrastructure Investment Bank (AIIB). She indicated that the AIIB “will be an institution that brings only benefits for connectivity and infrastructure projects.”

She also spoke at the seminar, Opportunities in Agribusiness: Trade, Investment and Innovation, organized by ProChile and InvestChile. Attended by Chilean and Chinese businesspeople, the seminar sought to promote business and investment opportunities in the agribusiness sector.

In addition, President Bachelet announced the signing of a Five-Year Plan for the Improvement of Agricultural Cooperation 2017-2021 whose priority areas for cooperation are the exchange of policy experience, animal and vegetable health, the training of human resources and the sharing of experiences in water saving and dryland farming.

The official visit concluded with President Bachelet’s participation in the Belt and Road Forum. Promoted by President Xi Jinping, this initiative focuses on integration for development based on infrastructure, trade and investment. The concept is inspired by the network of trade routes known as the Silk Road.

President Bachelet spoke during the plenary session of the High-Level Dialogue, indicating that “Chile is ready to become the bridge between Asia and Latin America and one of the leading players in the new infrastructure plan being promoted by the Chinese government”.

 

See President Bachelet’s speech at the Forum on the Belt and Road Initiative, known as “The Silk Road and the Maritime Belt of the 21st Century”.

 

The following agreements were signed:

  • Minutes of the First Meeting of the Permanent Chile-China Bilateral Commission.
  • Cooperation Agreement on Antarctic matters.
  • Memorandum on Strategic Cooperation between DIRECON and the China Council for the Promotion of International Trade (CCPIT).
  • China Council for the Promotion of International Trade (CCPIT).
  • Renewal of the Five-Year Plan of Work 2013-2017 for cooperation in agriculture.
  • Agreement on requirements for the transport of Chilean fruit for the Chinese market by sea or air through third countries.
  • Protocol for the entry of avocados into the Chinese market.
  • Memorandum of Understanding between the Chilean Economy Ministry and the China National Tourism Administration.

 

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