Visiting Chilean Foreign Minister Juan Gabriel Valdes on Tuesday urged Japan to expand the scope of its investment in his homeland to help Santiago enhance the nation's economic strength, a Japanese official said.
During talks with his Japanese counterpart, Yohei Kono, Valdes called for increased Japanese economic support for small enterprises in Chile, in addition to conventional investment in the country's copper industry, the Foreign Ministry official said.
Underlining Chile's importance to Japan as a political and economic partner in the Asia-Pacific region, Kono suggested that Chile examine the needs of Japanese investors and improve the investment environment for them, including the introduction of a proper taxation system.
Direct Japanese investment in Chile up to the end of fiscal 1998 stood at $1.15 billion. Nearly half of all Chilean exports to Japan are copper-related products.
Valdes arrived in Japan on Saturday on a five-day visit at the invitation of the Foreign Ministry. He is scheduled to meet with senior officials of the government and the business community.