Sheikh Mohammed bin Rashid, Vice President and Ruler of Dubai, met Chilean President Gabriel Boric at Al Shindagha Majlis on Tuesday.
The two leaders discussed ways to further co-operation between the UAE and Chile, Dubai Government Media Office reported.
The areas of trade, investment and economy, as well as serving the sustainable development goals of both nations and the interests of their people, were at the top of the agenda.
Sheikh Mohammed expressed the UAE's commitment to exploring deeper co-operation in various fields to fulfil the future aspirations of both countries.
Mr Boric had previously met President Sheikh Mohamed in Abu Dhabi on Monday, after which a trade agreement between the nations was signed.
Sheikh Mohammed said the visit from the Chilean President, along with the signing of the trade deal, "marks the beginning of a new promising phase in bilateral relations".
He added the advancement in relations would "boost trade and investment flows, and enable both countries to capitalise on investment and commercial opportunities, given their strategic locations as gateways to neighbouring regional markets".
The meeting was also attended by Reem Al Hashimy, Minister of State for International Co-operation, Omar Al Olama, Minister of State for AI, Digital Economy and Remote Work Applications, and Mohammed Al Neyadi, the UAE's ambassador to Chile.