Chile’s foreign minister said on Thursday that the South American nation has agreed to sign up to Beijing’s ambitious global infrastructure project as China looks to increase its influence in the US-dominated region, Reuters reports.
The agreement, set to be signed on Friday, will advertise Chile as a destination for Chinese investment and make the country a “landing point for investments in Latin America,” said Roberto Ampuero.
China is Chile’s top trading partner, as well as that of several other countries on the continent including Brazil and Argentina. Commercial ties between the two nations have been accelerating, with a deal signed last week slashing customs controls for Chilean products shipped to China.
Latin America, traditionally under Washington’s sphere of influence, is increasingly embracing offers of cooperation from Beijing. China has already promised to invest $250 billion in the region over the next decade.