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LATIN AMERICA


  China, Chile celebrate 40th anniversary of diplomatic ties

  China and Chile on December 8, 2010 celebrated the 40th anniversary of diplomatic ties at a reception in Beijing.

  The Chinese People´s Association for Friendshipwith Foreign Countries (CPAFFC) and the China-LatinAmerica and Caribbean Friendship Association jointlyheld the reception.

  Almost 60 guests attended the event, includingAbdul´ahat Abdulrixit, vice chairman of the NationalCommittee of the Chinese People´s Political Consul-tative Conference, other Chinese ofiicials, as well asChilean experts and overseas students in China.

  Addressing the reception, Li Xiaolin, vice presi-dent of the CPAFFC, sa.d Chile was the first countryin South America to forge diplomatic relations with newChina and the first in that region to recognize China´smarket economy status and sign a bilateral free tradeagreement with China. China and Chile established dip-lomatic ties in 1970.

  In the years since 1970, China-Chile relations havedeveloped smoothly, with frequent high-level visits as wellas exchanges and cooperation in various areas, especially inthe cultural, education, economic and trade sectors, Li said.

  Chile is China´s second biggest trade partner in LatinAmerica and China is Chile´s largest trade partner. Bilat-eral trade volume rose 2.1 percent to US17.72 billion in2010.

  China and Chile forged a comprehensive cooperativepartnership in 2004. China-Chile non-governmental ex-changes have growth in strength over the years, Li added.Chile´s ambassador to China Luis Schmidt Montes, spokehighly of the development of Chile-China relations. Hesaid Chile would like to further expand its cooperationwith China as the two countries have much to share witheach other. (Xinhua)a worrying surge in infiation.

  In a hawkish statement, the centralbank increased the benchmark Selic rate to11.25 per cent in a move that could lead to further pressure on Brazil´s currency,the real, to appreciate against the dol-lar.

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