Full coverage: Xi Visits Ecuador, Peru and Chile, Attends APEC Summit

Full coverage: China’s Leaders

Chinese President Xi Jinping is wrapping up his three-nation tour of the continent in Chile. The country is China's biggest trading partner in the region and it's a relationship built in part on a free trade agreement dating back more than 10 years.

Chinese President Xi Jinping(3rd L F) attends a welcoming ceremony held by Chilean President Michelle Bachelet (2nd L F) in Santiago, capital of Chile, Nov. 22, 2016. (Xinhua/Wang Ye)

For the Chinese - coming to Chile is a bit like visiting an old friend. This was the first country in South America to establish diplomatic relations with the People's Republic of China - in 1970 - and also the first in the region to sign a free trade agreement with China, in 2005.

Chinese President Xi Jinping (1st R) holds talks with Chilean President Michelle Bachelet (3rd L) in Santiago, capital of Chile, Nov. 22, 2016. (Xinhua/Ju Peng)

The visit of President Xi Jinping is expected to boost this relationship even further. The Chinese head of state and the Chilean President, Michelle Bachelet, had a private meeting that lasted more than an hour before heading to a public ceremony to participate in the signing of 12 bilateral agreements, including one to build on the FTA and other treaties between the two countries.

Chinese President Xi Jinping (L Back) speaks while Chilean President Michelle Bachelet (R Back) looks on during a joint press conference after their talks in Santiago, capital of Chile, Nov. 22, 2016. (Xinhua/Lan Hongguang)

Xi said, "We have agreed to upgrade the Chile-China relationship to the level of full strategic association and with this open a new chapter in the ties between Chile and China."

President Bachelet thanked China for its support of the successful bid to host a meeting of the foreign-ministers from China, Latin America and the Caribbean in January 2018.

She said, "We hope this coming meeting, just like your visit, President Xi Jinxing, will serve to keep strengthening the ties that unite us and so our countries can advance together in the direction of sustainable development."

In the 10 years since the Free Trade Agreement between China and Chile was signed, trade has more than tripled. Both sides have made it clear during this visit the bilateral relationship still has much more to offer.

Chinese President Xi Jinping (3rd L) and Chilean President Michelle Bachelet (3rd R) witness the signing of cooperation agreements on trade and economy, agriculture, quality control, culture, education, e-commerce, information communication and finance, after their talks in Santiago, capital of Chile, Nov. 22, 2016. (Xinhua/Lan Hongguang)