Chile to China: Let us be your business hub in Latin America

(Reuters) - Chilean President Sebastian Pinera kicked off an investment forum in China on Thursday with an invitation for the Asian giant to use Chile as a jumping off point to do business in Latin America, even as Washington has warned Chile to proceed with caution. Pinera told the forum that Chile's objective was to attract more investment from Chinese companies in technology, electric vehicles, telecommunications, and e-commerce.

Reuters April 26, 2019 00:06:40 IST
Chile to China: Let us be your business hub in Latin America

Chile to China Let us be your business hub in Latin America

(Reuters) - Chilean President Sebastian Pinera kicked off an investment forum in China on Thursday with an invitation for the Asian giant to use Chile as a jumping off point to do business in Latin America, even as Washington has warned Chile to proceed with caution.

Pinera told the forum that Chile's objective was to attract more investment from Chinese companies in technology, electric vehicles, telecommunications, and e-commerce.

"We want to transform Chile into a business centre for Chinese companies, so that you can, from Chile, reach out to all of Latin America," Pinera told Chinese investors at an investment and innovation forum in Beijing, according to a Chilean government statement.

The Chilean president's visit to China, the Andean nation's top trading partner, comes just weeks after U.S. Secretary of State Mike Pompeo visited Chile and slammed China's "nefarious" actions and "predatory" lending practices, which critics say leave borrowers beholden to Beijing.

China rejected Pompeo's criticisms, calling them "slanderous" and "irresponsible."

Pinera has met with several Chinese electric vehicle makers during his week-long visit to Asia, including BYD and Yutong. Chile is one of the world's largest producers of lithium, a key ingredient in electric vehicle batteries.

He also met executives from ride-hailing giant Didi Chuxing, which is planning to take on U.S. rival Uber in some of Latin America's fastest-growing markets, including Chile.

It was not immediately clear whether Pinera would meet with Chinese telecommunications company Huawei during the visit. Chile has been in talks with Huawei since at least 2017 regarding a possible trans-Pacific fibre optic cable, and other projects.

Pompeo earlier this month warned Chile that Chinese technology, including equipment made by Huawei, poses a security risk that could affect information sharing by the United States.

U.S. influence in Latin America has been increasingly challenged by China, whose booming economy over the past two decades has driven up demand for South America's raw materials.

Chile, among Latin America's most open economies and the world's top copper exporter, has sought to remain neutral amid the growing tensions, promoting instead the need for open markets and trade.

(Reporting by Dave Sherwood and Natalia Ramos in Santiago, writing by Dave Sherwood, Editing by Rosalba O'Brien)

This story has not been edited by Firstpost staff and is generated by auto-feed.

Updated Date:

TAGS:

also read

France, Germany to agree to NATO role against Islamic State - sources
| Reuters
World

France, Germany to agree to NATO role against Islamic State - sources | Reuters

By Robin Emmott and John Irish | BRUSSELS/PARIS BRUSSELS/PARIS France and Germany will agree to a U.S. plan for NATO to take a bigger role in the fight against Islamic militants at a meeting with President Donald Trump on Thursday, but insist the move is purely symbolic, four senior European diplomats said.The decision to allow the North Atlantic Treaty Organization to join the coalition against Islamic State in Syria and Iraq follows weeks of pressure on the two allies, who are wary of NATO confronting Russia in Syria and of alienating Arab countries who see NATO as pushing a pro-Western agenda."NATO as an institution will join the coalition," said one senior diplomat involved in the discussions. "The question is whether this just a symbolic gesture to the United States

China's Xi says navy should become world class
| Reuters
World

China's Xi says navy should become world class | Reuters

BEIJING Chinese President Xi Jinping on Wednesday called for greater efforts to make the country's navy a world class one, strong in operations on, below and above the surface, as it steps up its ability to project power far from its shores.China's navy has taken an increasingly prominent role in recent months, with a rising star admiral taking command, its first aircraft carrier sailing around self-ruled Taiwan and a new aircraft carrier launched last month.With President Donald Trump promising a US shipbuilding spree and unnerving Beijing with his unpredictable approach on hot button issues including Taiwan and the South and East China Seas, China is pushing to narrow the gap with the U.S. Navy.Inspecting navy headquarters, Xi said the navy should "aim for the top ranks in the world", the Defence Ministry said in a statement about his visit."Building a strong and modern navy is an important mark of a top ranking global military," the ministry paraphrased Xi as saying.