Santiago de Chile, November 21 (NNN-EFE-RHC)-- Chile plans to replicate the European model for territorial concentration of business in order to spur competitiveness and promote local development, the vice president of the country's Corfo agency for business and innovation says.

Eduardo Bitran spoke at a seminar organized by the EuroChile Business Foundation, which featured speakers from Germany and Spain.

Chile's administrative structure comprises 15 regions, further divided into 54 provinces and a total of 366 municipalities.

At the end of the seminar EuroChile's president, Vicente Caruz, signed a cooperation agreement with Ricardo Cifuentes, Chilean undersecretary for Regional Development.

"Under this agreement EuroChile will work with Chile's regions so that they can develop with European regions and institutions projects and activities of mutual interest, benefiting from the enormous experience Europe has in this matters."