The President of the Republic, Michelle Bachelet and the Prime Minister of the State Council of the People’s Republic of China, Li Keqiang, recently signed ten agreements and a memorandum of understanding between the two countries in economic, commercial, financial and scientific collaboration, among others. These agreements are part of a total of 18 cooperation instruments from different fields, both public and private, which in addition will be used as a tool to work together and contribute to the development of both countries with important benefits for companies and individuals in each country.

Finance Minister Rodrigo Valdes, was the responsible for signing with the commissioner (minister) of the State Tax Administration of China, Jun Wangun, an agreement to eliminate the double taxation with China.

The agreement to avoid double taxation, and a number of other agreements that were signed during this month, allow Chile to move forward on being an open and competitive economy, and allow them to receive investments but also to invest in China with low tax cost as well as to invite foreigners to come to Chile and let employers and domestic capitals to invest abroad.

In another of the signed agreements, it was also highlighted the memorandum signing of the understanding development of the Free Trade Agreement with China.