China will strengthen economic cooperation with Republic of Chile as both sides have contributed to accelerating the creation of a bilateral free trade zone and all-round partnership, Vice-Premier Wang Qishan said yesterday.

He was addressing the China-Chile Economic and Trade Cooperation Forum held in Beijing, a platform designed to develop new methods of improving economic cooperation and communication among enterprises from the two countries.

Bilateral cooperation has been increasing as Chilean products such as wine, salmon, copper and paper pulp have been increasingly entering the Chinese market, said Wang.

China has become Chile's largest trading partner as Chilean consumers lap up more and more Chinese products like electrical appliances and textile, Wang added.

Further development of bilateral cooperation will not only create more commercial opportunities for enterprises from both countries but also bring more benefits to people of the two countries, Wang said.

He said the establishment of the China-Chile Free Trade Zone would be a golden opportunity and a watershed in Asia-Latin America cooperation.

Wang said both countries should take advantage of the free trade zone and boost cooperation in trade and services. He encouraged investment by China's competitive enterprises, expansion of direct investment and innovation in investment methods.

With a huge potential for cooperation, China and Chile have many complementary advantages, said Wang. "In future, we will focus on agriculture, mining and infrastructure construction, and improve bilateral economic and technical cooperation."

Wang welcomed Chilean companies to seek commercial opportunities and invest in China.

Chilean President Michelle Bachelet said Chile also welcomes Chinese enterprises by providing them with a stable political environment, consistent economic growth and legal guarantees.

(China Daily April 15, 2008)