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China and Chile will set a positive example for the world by seeking expansion and diversification through cooperation to achieve greater growth amid the fallout of the pandemic and global protectionism, experts said.

The comments came after China's Ministry of Commerce (MOFCOM) and the Chilean Ministry of Foreign Affairs jointly announced they would enhance cooperation under a free trade agreement (FTA) and combat COVID-19 together, according to the MOFCOM website on Friday.

Experts believe the statement is sending a positive signal to the world that countries should stand closer together in pursuing bigger opportunities at a time when the world is plagued by protectionism led by the US and struggling to battle the pandemic.

"China and Chile call for close, coordinated and robust cooperation around the world to respond to this common threat. Both sides are strongly committed to presenting a united economic and trade front against COVID-19 and standing against trade protectionism," the statement read.

China and Chile recognize the importance of trade and investment liberalization at this critical moment, including maintaining open and connected global supply chains, and will work to ensure that trade flows are unimpeded and trade lines and critical infrastructures remain open, including air and sea freight routes, according to the statement.

Both countries' trades and investments have witnessed fast growth since the FTA was signed in 2005 and the update of the agreement was initiated in 2019.

The bilateral trade volume grew from $7 billion in 2005 to $41 billion in 2019, rising 480 percent. China surpassed the US to become Chile's biggest trading partner several years ago, and is followed by the US and the EU, the Global Times has learned.

"Chile has always been a model for Latin American development, thanks to its adherence to the open multilateral system of free trade. In this regard, China and Chile have a high level of political consensus, and the FTA is a result of their openness," Song Junying, director of the Department of Latin American and Caribbean Studies at the China Institute of International Studies, told the Global Times on Friday.

Although no cooperative details were mentioned in the statement, experts say this could pave the way for further expansion and diversification in bilateral trade and investment, in addition to increased experience exchanges for the prevention and control of COVID-19.

"In recent years, China's trade and investment in Chile have expanded in many sectors from energy to technology and banking, and the two countries may seek greater cooperation in industries where China has advantages, such as 5G, e-commerce and the digital economy," Song said.