China-Chile relationship is in the best of its time, said a senior Chilean official Wednesday in Santiago.

Osvaldo Rosales, general director of the International Economic Relations of the Chilean Foreign Ministry, made the remarks in an interview with Xinhua.

The two nations'economic and trade relations developed rapidly in the past years, and trade is expected to increase more than 40 percent this year, he said.

Currently, China is Chile's third largest importer, while the South American country is China's third largest trading partner in Latin America.

The diplomat anticipated that prospects for bilateral trade will be even brighter and Chile's foreign trade will be diversified once the two countries strike a free trade deal.

Talking about his impression on China, Rosales, who just came back from a China visit, said the world has witnessed China's fast economic growth since the world's biggest developing country began reform and opening up.

"China's economic growth has impacts not only on the economies in the Asia-Pacific region, but also on the rest of the world,"he said.

Many experts and analysts here predict that "China would play much more important roles in the world economy within 5 to 10 years," because the country has invested huge amounts of capital in research and development which will consequently bring about remarkable results, he said.

He said that Chinese President Hu Jintao's upcoming visit to Chile will provide a very good opportunity for leaders of the two countries to meet, for active negotiations on trade liberalization and for cooperation in tourism and mining.

Hu is now paying a state visit to Argentina, the second leg of his four-nation tour in Latin America, which has brought him to Brazil. He will visit Chile and attend the Economic Leaders' Meeting of the Asia Pacific Economic Cooperation (APEC) scheduled for Nov. 20-21 in Santiago before he goes to Cuba.

Source: Xinhua