The Chilean Ministry of National Defense forged a new partnership with Airbus after officials signed a new agreement.

The agreement aims to facilitate a path for new business development with a focus on military and space aircraft. Both parties have agreed to cooperate on manufacturing and maintenance for future projects, and explore additional ways to deepen their relationship.

"[The agreement] will allow for a better development of our aerospace industry, creating new opportunities for growth and job boosting step our national aviation industry and also our Air Force," Chilean Defense Minister José Antonio Gómez said in a press release. "These kind of strategic alliances are in line with what we wanted to do from the beginning: to promote the industries of defense."

The signing follows several agreements between the government of Chile and other defense industry giants, including a contract with Lockheed Martin to produce spare parts for C-130 aircraft.

According to the ministry, the partnership with Airbus is part of a larger effort to follow other Latin American countries in investing more funds in aerospace and defense capabilities. Officials say such agreements will create new opportunities for growth and innovation.