Chinese Premier Wen Jiabao has announced that China and Chile plan to increase their bilateral trade to 60 billion US dollars by 2015 in order to strengthen their economic relations.
He made the comments at a joint press conference with Chilean President Sebastian Pinera in Santiago on Tuesday, The Associated Press reported.
During a meeting earlier in the day, Wen and Pinera signed a number of trade accords to extend a bilateral free trade agreement which came into effect in October 2006.
According to Chilean Foreign Minister Alfredo Moreno Charme, the two sides also signed an agreement to provide financial security for the countries’ investors.
Trade between the two countries is currently valued at approximately $30 billion.
On Tuesday, SkySolar, a Chinese renewable energy company, announced that it plans to construct a solar park in Chile. It would be the largest investment ever in Chile by a Chinese company, with the projected cost of the project about $1 billion.
From 1974 to 2010, Chinese companies made an annual investment of about $100 million in Chile. In 2011, Chile received more than $205 million worth of investment from Chinese companies. This year, the amount is expected to reach about $300 million.
Wen arrived in the Chilean capital on Monday night on the last leg of an official visit to four Latin American countries.
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