Govt And Industry Representatives From China, Chile Call For Stronger Bonds

Beijing, (APP - UrduPoint / Pakistan Point News - 16th May, 2025) Government and industry representatives from China and Chile called for stronger ties, highlighting the great potential and complementarity between the two major trading partners, particularly in areas such as cherry trade, as the two countries mark the 55th anniversary of diplomatic relations and the 20th anniversary of the signing of their Free Trade Agreement (FTA) this year.

The remarks were made at the 20th Anniversary Annual Meeting of the China-Chile Business Council, jointly organized by the China Council for International Investment Promotion (CCIIP) and the Federation of Chilean Industry, held in Beijing on Thursday. The event drew hundreds of participants, including officials, envoys, and business representatives from both countries.

"This year is very important for us," Pablo Arriaran Ahumada, newly appointed Chilean Ambassador to China, said at the meeting, referring to the 55th anniversary of diplomatic relations and the 20th anniversary of the signing of the FTA.

"Chile is one of the countries with the most free trade agreements in the world, and we place great importance on our FTA with China," the ambassador said, noting that over the past 20 years, bilateral trade has grown significantly, and Chile's exports to China have become increasingly diversified, including energy, agricultural products and services.

The Latin American country has also seen growth in some of its traditional exports, such as copper, to China.

Trade figures underscore the strong growth. Since the establishment of diplomatic relations, bilateral trade cooperation has yielded fruitful results. Data from China's General Administration of Customs shows that China's trade with Chile reached 163.19 billion Yuan ($22.65 billion) in the first four months of this year, a record high for the period. This represents a year-on-year increase of 5.4 percent, outpacing the growth rate of China's overall foreign trade by 3 percentage points, the Xinhua news Agency reported.

Moreover, the China-Chile FTA has served as a strong catalyst for the growth of bilateral trade. Since its implementation, bilateral trade has expanded from 70.85 billion yuan in 2006 to 437.95 billion yuan in 2024, with an average annual growth rate of 11.2 percent, the report said.