CHILE: China's top legislator Wu Bangguo meets with Chilean President Michelle Bachelet in last leg of Latin American tour

The chairman of China's parliament Wu Bangguo was in Chile Thursday (September 7, 2006) to meet with Chilean President Michelle Bachelet. The two met at Santiago's Palacio de la Moneda to strengthen trade ties between their respective nations. In comments made at a joint press conference with Wu Bangguo, Bachelet was positive about the relationship between the two nations. "The announcement that we have made today is another step in the fruitful relationship between Chile and China, a relationship that is now at one of its best moments," Bachelet said at a joint news conference held after the bilateral meetings. Wu Bangguo, second in command in China after President Hu Jintao, arrived in Chile accompanied by some 80 Chinese businessmen to discuss furthering trade between the countries. Wu Bangguo was also pleased with the visit, saying that the relationship between Chile and China was stronger than ever. "Both parties are of the opinion that the relationship between China and Chile is at its best moment, and that the deepening of our commercial cooperation contributes not only to fundamental interests of the people but also to peace and development in the region and in the world," he said. After ratifying a free trade agreement last month that waved tariffs on some Chilean products destined for China, Chile continues to lower tariffs and remove trade barriers with China. The trade policies include a tariff-free policy on copper from Chile, the world's biggest producer of the metal, which is expected to help ease an expected shortage next month in China, the world's most voracious consumer, traders said on Wednesday (September 6) . Chile is Banggou's last stop on a tour that took him to Brazil and Uruguay. In Brazil, Bangguo solidified a deal with Brazilian aircraft manufacturer Embraer to sell 100 jets to China's HNA Group in a deal valued at $2.7 billion at current list prices.

ITN Source | September 8, 2006

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