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Chile leader sees 'huge' Chinese potential

By Ai Yang (China Daily)
Updated: 2010-11-17 15:29

BEIJING - There are "huge opportunities" ahead for Chinese and Chilean businesses to invest in, said visiting Chilean President Sebastian Pinera on Tuesday.

"Today I met with a lot of Chinese entrepreneurs and we talked about investment opportunities for Chileans in China and Chinese in Chile," Pinera, who arrived in China for his first state visit, told China Daily during an interview here.

On the same day he met with his Chinese counterpart Hu Jintao. President Hu welcomed Pinera's visit and said China highly values ties with the South American nation.

Hu suggested the two countries diversify and expand trade ties by boosting cooperation in areas like agriculture, science and technology, mineral development, light industry, household appliances and machinery.

Pinera, on his first China visit since taking office as Chilean president in March, said he was always "full of passion" to enhance pragmatic cooperation with China.

"Trade cooperation is on the rise, and the two countries have become important trading partners," said Hu.

"The facts prove that the development of China-Chile relationship complies with the fundamental interests of both peoples and is conducive to the common development of the two countries," said Hu.

Hu urged both countries to deepen political trust, increase cultural exchanges and enhance coordination within international and regional organizations.

Pinera said Chile is ready to work with China in economic cooperation in the Asia-Pacific region, the Doha Round trade talks, the reform of global financial institutions and climate change.

The two leaders later witnessed the signing of three agreements covering the banking and wine sectors.

Pinera is due to meet Premier Wen Jiabao and top legislator Wu Bangguo on Wednesday.

Pinera's visit to China is part of a larger visit to Asia, where he has already attended the annual Asia-Pacific Economic Cooperation summit in Japan over the weekend and met world leaders there. His trip to China is reportedly aimed at cultivating further business partnerships.

The president, elected in March, arrived in Beijing on Monday night for his three-day visit. He told China Daily that opportunities for both countries are "huge".

The visit came as the 40th anniversary of bilateral ties drew near. "We have huge expectations for (the) future China-Chile relationship, and I'm sure the best years are yet to come," Pinera said.

Chile signed a free trade agreement with China - as the first Latin American nation to do so - in 2005. Last year, China became Chile's largest trade partner with its exports to China increasing by more than 20 percent to $11 billion.

Current total trade volume between China and Chile amounts to $24 billion and continues to grow rapidly, according to Pinera.

Bilateral investments however, at $85 million and $212 million respectively, are too little, he added.

Xinhua contributed to this story.

China Daily