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Chile and China hold Fourth Strategic Dialogue on Economic Cooperation and Coordination with focus on mining, infrastructure, energy, innovation and technology

Wednesday, January 4th 2023

The Minister of Foreign Affairs, Antonia Urrejola, together with the Undersecretary of International Economic Relations, José Miguel Ahumada, led, on behalf of Chile, the 4th Strategic Dialogue on Economic Cooperation and Coordination between our country and the People's Republic of China, which took place virtually today.

Lin Nianxiu, Vice Chairman of the National Development and Reform Commission of the People's Republic of China, led the meeting on behalf of the asian country.

The authorities reviewed progress and achievements since the 3rd Economic Dialogue and had an extensive discussion on the working groups established on mining, infrastructure, energy, innovation and technology.

"This dialogue represents a valuable opportunity for our countries to expand their economic relationship beyond purely commercial matters, exploring new opportunities for cooperation in those areas where both countries enjoy strengths, including the contemporary challenges of international trade," the Minister stressed, adding that it contributes to the exchange of information to promote reciprocal investments.

In this regard, she noted that since 2009 China has been our main trading partner, concentrating 34% of Chile's world trade, reaching US $64,608 million in 2021.

"Our country has sustained a consistent and irrevocable process of positioning and integration with the Asia-Pacific region, as part of a State strategy and policy, from where we hope to continue progressing with a vision of economic development with social inclusion and sustainability, which promotes greater welfare and progress of our societies," he added.

From the economic perspective, Undersecretary Ahumada emphasised that "the increase of foreign direct investment of Chinese origin in our country has been on the rise and, with it, the growth of financial activity", where direct investment in our country is estimated at a total amount of US $19 billion.

"The sectors addressed by our counterparts in the areas of mining, energy, infrastructure and innovation and technology, are preponderant for the work of this Economic Dialogue. However, the food industry, the health industry, electromobility, just to name a few, are shown as new possibilities for Chinese companies in our country," he said.

Advances in mining, infrastructure, energy, innovation and technology

In mining, both countries agreed to continue promoting cooperation in copper smelting technology, the development of lithium resources, among other areas, taking advantage of the technical experience that Chile and China have in the field.
"In energy, the cooperation commitments regarding the use and development of clean energy and energy transition, improving efficiency in the transmission and distribution of energy, increasing the use of electric vehicles, as well as promoting the exchange of knowledge in matters of research and development of storage technologies and development of the green hydrogen industry stand out," said the Undersecretary.
Regarding infrastructure, they will continue to deepen the relationship by adhering to international standards and trade principles as they have done so far. Finally, on innovation and technology, they will collaborate on issues such as bridging the digital divide, innovation in 5G technology, artificial intelligence and big data.