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November 24, 2016

President Bachelet: “We have a mature, stable relationship with China that grows stronger every day”

► President Bachelet and the President of the People’s Republic of China, Xi Jinping, took part in the signing of 12 agreements, including a Memorandum of Understanding to start negotiations to update and deepen the Free Trade Agreement between the two countries.

► “We are convinced that these agreements will generate, in the near future, a very positive impact,” stated President Bachelet.

The President of Chile, Michelle Bachelet, along with the President of the People’s Republic of China, Xi Jinping, participated this afternoon in a document signing ceremony as part of the State Visit the Chinese President is making to Chile.

During the event, the two nations signed 12 agreements, including a Memorandum of Understanding to start negotiations that aim to update and deepen our Free Trade Agreement, as well as one on Cooperation for Technology Transfer and Consultation regarding ICT matters, one on Education, and another establishing the Chile-China Research and Development Center for Agricultural Science and Technology.

“We have a mature, stable relationship with China that grows stronger every day. And this is mainly due to our country being perceived as a reliable partner within Latin America,” emphasized President Bachelet.
She added, “we are convinced that these agreements will generate, in the near future, a very positive impact.”
President Bachelet explained that, ten years ago, both countries signed an FTA that “has brought important benefits to both sides.”

China is currently Chile’s principle trading partner while Chile is China’s third biggest partner within Latin America. Today, 97% of Chilean merchandise enters China duty free, and Chile has liberalized the entrance of 98% of Chinese products.

“Recently, we have taken other important steps. In May 2016, the China Construction Bank was authorized to operate in Chile under the name “China Construction Bank, Agency in Chile”, which paves the way for its participation in infrastructure projects, boosting economic-commercial trade and financial collaboration between our countries,” President Bachelet said.

She added that tourism visas between Chile and China do not require payment of a fee, “which we hope will motivate a greater exchange of tourists between our countries,” she said.

In conclusion, President Bachelet stressed that the visit of her counterpart Xi Jinping served to “consolidate a new phase, towards a Comprehensive Strategic Partnership.”

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