CHINA and Chile plan to double trade volume to US$60 billion by 2015, according to statements issued by both countries as Premier Wen Jiabao ended his state visit in Santiago.

The two countries have signed an agreement to protect investments going into either country, reported Reuters. Trade between China and Chile consists mostly of commodities such as copper producer wine, salmon, fruit and forest products.

Two Chinese companies - renewable energy firm Sky Solar and state-owned China Development Bank - and Chile's Sigdo Koppers industrial group will jointly invest $900 million in a solar energy park, China's largest-ever investment in Chile.

"These two countries complement each other because Chile is a rich country in commodities and China needs to continue growing at the same rhythm," said Benjamin Sierra, an economist at Canada's Scotiabank in Chile.