Xi's visits to boost economic ties with Italy, Cuba, Uruguay, Chile

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Chinese-Uruguayan trade diversified

With half of its wool exported to China, Uruguay is diversifying its export commodities for the Chinese market, its second largest after Brazil.

"China, the top buyer of Uruguayan wools, is importing other goods from Uruguay, such as marine products, timber, pulp, beef and bone powder," Zhong said.

In 2010, Chinese-Uruguayan trade volume increased by 69.3 percent year- on-year to 2.63 billion U.S. dollars, including 1.15 billion U.S. dollars of Chinese imports, according to figures.

Zhong hailed economic projects between the two nations, such as a factory of China's home-grown Chery Auto in Uruguay, saying the software industry could become another field for cooperation.

"There could be more and more Chinese companies going to Uruguay, which is a member of the South American Common Market and has inked free or favorable trade deals with Latin American countries and other nations," Zhong said.

China, Chile share vigor for bolstering economic ties

On the economic and trade ties with Chile, Zhong said China has become the South American state's largest trade partner and top market of exports while two-way investment is also booming.

"Both economies are growing quickly, which will provide vigor for expanding cooperation," Zhong said.

He also underlined other favorable circumstances for bolstering economic and trade ties, such as stable bilateral ties and reciprocal advantages for resources, investment, and technology.

Thanks to a free-trade agreement inked by the two states in 2005, Chinese-Chilean trade has soared in recent years, as bilateral trade volume grew by 44.8 percent to 25.83 billion U.S. dollars last year, according to data.

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