The 6th round China-Chile Free Trade Area (FTA) talks on investment agreement was held in Santiago on February 1-5, and positive progress was made. The two sides have reached consensus, through pragmatic discussions, on definition of Investors, the Investor-State Dispute Resolution Mechanisms, and Damage Compensation. The two sides agreed on most clauses of the agreement.
China-Chile Free Trade Agreement was signed in November 2005, with its main contents including trade in goods and cooperation. Since the agreement was implemented in October 2006, bilateral trade has been growing rapidly, and positive effect can be seen since its enforcement.
China-Chile bilateral trade hit US$ 17.53 billion in 2008, up by 19.3% year-on-year. In 2009, while the foreign trade of world’s major economies suffered recession affected by the financial crisis, China’s import from Chile reached US$ 11.16 billion, up by 5.6%. At present, Chile is China’s third largest trading partner in Latin America, while China is Chile’s largest trading partner in the world.