Chilean President Sebastian Piñera on Tuesday welcomed Spanish Crown Prince Felipe and his wife, Princess Letizia, with the honors reserved for heads of state at Moneda Palace.

The royal couple, who arrived on Monday night in Santiago, came to the seat of Chile's government after placing a floral offering at the monument to the country's liberator, Bernardo O'Higgins, the first event on their schedule.

Many Chileans followed the activities at the O'Higgins monument and also came to the palace to greet the prince and princess with applause and cheers.

Piñera, accompanied by first lady Cecilia Morel, awaited Felipe and Letizia and welcomed them at the palace's main entrance, while a military guard detail offered honors to the royal couple as the respective national anthems played.

The trip agenda for Tuesday also includes Felipe's participation in an investment forum and a Chile-Spain business meeting, meetings with Chilean lawmakers and an official dinner at Moneda Palace, where the prince will deliver a speech.