"Chile has very large raw material deposits of both lithium and copper," said Federal Chancellor Angela Merkel. An agreement for improved cooperation in the raw materials industry has already been signed.

Cooperation in the area of renewable energies

"We have very good bilateral relations and want to strengthen these even further," explained Merkel. Chile is very advanced when it comes to renewable energies, she said. Cooperation in the areas of energy efficiency and expansion of renewable energies are therefore an important focus, according to the Federal Chancellor. Further cooperation is planned in dual vocational training as well as in science, research and technology.

Renewing the trade agreement with the EU

Germany is Chile's most important trade partner within the European Union. The EU is also working on renewing its trade agreement with Chile. Germany is very positive about the negotiations, explained Merkel.

At the moment, progress is being made on a double taxation agreement with Chile that will further strengthen trade. At the meeting at the Federal Chancellery in Berlin, the Chilean President Sebastián Piñera stressed the importance of multilateralism and free trade for his country.

"Colonia Dignidad": Reappraisal was subject for discussion

The reappraisal of the crimes committed in the former "Colonia Dignidad" was also discussed. There is to be further cooperation - also in the interests of the surviving victims - in this area, too. Both heads of government consider this to be extremely important. The plan is to establish an education centre or memorial.

On Thursday, President Piñera will be attending the 69th Latin America Day in Hamburg as its guest of honour. This visit will also be used as an opportunity to strengthen economic links.