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China investing heavily in Chile
January 23, 2013, 10:16 am

solar

Chinese ambassador Yang Wanming calls for greater cooperation between the two countries in green energy and innovation. [Getty Images]

Chinese solar-energy developer, Sky Solar Holdings announced plans on Tuesday to invest $1.36 billion in Chile.

Chile has become China’s second-largest trading partner in Latin America and the second biggest source of imports.

At a forum hosted by Chile’s Foreign Investment Committee (CIE), Sky Solar director for Latin America Chen Hong revealed the company’s planned operations in Chile.

Trade between China and Chile was expected to hit $35 billion in 2012, boosted by China’s increase in imports and a comprehensive free trade agreement between the two countries.

Chinese ambassador Yang Wanming said Chinese companies are interested in investing in infrastructure and energy in Chile.

Wanming called for greater cooperation between the two countries in green energy and innovation.

China is Chile’s biggest trading partner.

Welcoming Chinese investments in Chile, CIE Vice President Matias Mori said Chile has begun to focus its investment promotion particularly on China since 2010.

Former Chilean President Eduardo Frei, now a senator, also hailed the development of political and economic ties between the two countries.

China and Chile’s FTA, signed in 2005, was effective from 2006, enabling more than 6,000 kinds of Chinese exports goods to have a zero-tariff policy.

With inputs from Agencies

 

 

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