Interview: Chile to focus on infrastructure, finance co-op during Li’s visit

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• published: 20 May 2015
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The upcoming official visit to Chile of Chinese Premier Li Keqiang will enhance bilateral infrastructure and finance cooperation, President Michelle Bachelet told Xinhua on Tuesday at the presidential headquarters of La Moneda in Santiago. “The bilateral ties between the two nations have been very positive and fruitful. We will sign a series of accords during Li’s visit, including a Joint Plan of Action,“ she said. Li’s visit will primarily provide the two governments with an opportunity to discuss the participation of Chinese companies in Chile’s infrastructure projects like railways, ports, hydropower stations and telecommunications, said Bachelet, adding that Chile in turn is willing to share its experiences with China in areas such as urbanization. Meanwhile, the central banks of Chile and of China are making headway in currency swaps that will facilitate the internationalization of China’s renminbi, she noted. In particular, the imminent opening of a branch in Chile of the China Construction Bank stands to mutually benefit both regions with business beyond Chile’s borders, said Bachelet. Considering her country’s membership in the Pacific Alliance, along with Mexico, Colombia, the bank’s choice of location in Chile “doesn’t just open a significant space for investment and bilateral trade, but also opens a collection of other spaces in which Chile participates and I find China can also reach,” she said. “Chile is classified as a gateway country in the sense that we always seek to serve as a constructive bridge with our neighbors,” she added. “I think we are in a very good standing to continue making progress in various economic and trade fields,” said Bachelet, noting Chile currently serves the United Nations Security Council as a non-permanent member, which has led to “very smooth cooperation between the two delegations.” Meanwhile, Chile welcomes China’s initiative to analyze the feasibility of a free trade agreement among the 21 member countries of the Asia-Pacific Economic Cooperation (APEC) Forum, which would benefit large, medium and small economies, said the president. “However, we believe it should not replace the forum. The free trade agreement is an outcome, a product of the forum’s work, but (the forum itself) should be maintained,” she added. Another Chinese initiative, the Asian Investment and Infrastructure Bank (AIIB), is an extremely important development as an alternative to traditional global lending institutions such as the International Monetary Fund and the World Bank, said Bachelet. While Chile appreciates the possibility of requesting membership in the institution, it is also aware that membership entails certain costs, she added. Chile and China, said Bachelet, have maintained friendly ties of cooperation for 45 years and “we want to continue along this same path, strengthening and expanding our ties, our exchange, our knowledge.” “We are a small country compared to the People’s Republic of China, but full of affection and interesting situations. We will continue to vigorously pursue excellent ties,” concluded Bachelet, while extending an invitation for “many more Chinese men and women to visit us in Latin America.” Bachelet, during her first term as Chilean president, approved the Free Trade Agreement that has given China a leading trade partner status in the nine years ever after.