Saturday, June 30, 2012

China Makes Economic Growth in Chile

Chinese Prime Minister Wen Jiabao announced that China and Chile would increase bilateral trade to 60 billion USD in 2015 in order to strengthen economic relations between the two countries.

This was stated by Wen in his press conference with Chilean President Sebastian Pinera in Santiago on Tuesday (26/6). As reported by the Associated Press.
In a meeting before the press conference, Wen and Pinera signed a number of trade agreements to extend the bilateral free trade contract that took effect since October 2006.

According to Chilean Foreign Minister Alfredo Moreno Charme, the two parties also signed an agreement to provide financial security guarantees for investors of both countries.

Trade between the two countries is currently worth around 30 billion USD.

On the same day, SkySolar, a Chinese renewable energy company, announced plans to build a solar power plant in Chile. This will be the biggest investment in Chile by a Chinese company, with an estimated fund reaching 1 billion USD.

From 1974 to 2010, Chinese companies made an annual investment of around 100 million USD in Chile. In 2011, Chile received investments worth more than 205 million USD from Chinese companies. This year, the amount is expected to reach around 300 million USD.

Wen arrived in the Chilean capital late Monday in a series of official visits to four Latin American countries.

IRIB / The Truth Seeker Media

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