Chile signs agreements with China and becomes "the great financial center of Latin America"

Chile signs agreements with China and becomes “the great financial center of Latin America”

29/05/2015

President Michelle Bachelet, together with Chinese Prime Minister Li Keqiang, signed agreements at the La Moneda Palace yesterday, which are part of a total of 10 instruments of economic cooperation between the two countries.

The list highlights the agreement of Financial Cooperation between the Central Banks of both countries that will promote the conditions to facilitate the use of the Renminbi (RMB) in the country.

«We are going to specify Renminbi's first re-settlement bank in South America«, announced the Chinese Prime Minister.

«Chile will be transformed into a financial center for China for the liquidation of its currencies, through the installation here with an investment of US $ 180 million«said the Minister of Foreign Affairs, Heraldo Muñoz.

Regarding the gains that this means for the country, the Chilean ambassador to China, Jorge Heine, explained that this «consolidates the country as the great financial center of South America«.

In the ceremony held on Tuesday in the Patio de Las Camelias of the La Moneda Palace, Bachelet noted that «the signed agreements project the Free Trade Agreement that we signed during my first term and the association that came into force six years later«.

«The 10 agreements that we sign today will be tools of joint work to contribute to the development of our mutual paths, each of them will have effects on the inhabitants of our countries"He added.

Another point that stood out was the agreement to promote a bioceanic corridor between Brazil, Peru and China.

«The President explained to the Chinese Prime Minister the decision of four countries that met here to privilege two corridors. One that will connect the state of Mato Grosso of Brazil through Paraguay, Argentina and the ports of northern Chile and the second, the so-called central corridor that goes from Porto Alegre, Brazil, through Argentina and that we hope will be the water tunnel black connecting with Coquimbo. These are concrete projects and China has expressed the interest to participate in the construction of these corridors"said Foreign Minister Heraldo Muñoz.

Source: SimFruit