Palestinian President Mahmoud Abbas (3rd L) welcomes visiting Chilean President Sebastian Pinera (2nd L) in the West Bank city of Ramallah, on June 27, 2019. (Xinhua/Office of the Presidency/Stringer)

RAMALLAH, June 27 (Xinhua) -- Palestinian President Mahmoud Abbas on Thursday said that the rights of the Palestinians are "not for sale," one day after the U.S.-led economic workshop was held in Bahrain.

On the joint press conference with his Chilean counterpart Sebastian Pinera in the West Bank city of Ramallah, Abbas said that "reaching a political solution that guarantees freedom, dignity, independence and justice for our people must come before any economic plans or programs."

The Palestinian president explained that only a political solution would create stability and security to all, and this is why Palestine has not participated in the American workshop held in Manama the last two days.

Abbas stressed that the U.S. administration has "disqualified" itself from playing a role in the Middle East process and reiterated his call for an international multilateral umbrella to overlook the peace negotiations.

Pinera arrived in Ramallah on Thursday for an official visit.

He commenced his visit by planting an olive tree in the Chile Street, located near the presidential headquarters in Ramallah city, then laid wreath of flowers at the grave of the late Palestinian leader Yasser Arafat and toured Arafat's Museum.

Chile is home to the world's largest Palestinian community outside of the Middle East, as it hosts around 500,000 Palestinians.

Abbas made an official visit to Chile last year.

Chile also supported UN resolution 67/19, which upgraded Palestine to non-member observer state status in the UN, and has officially recognized the State of Palestine since January 2011.

The Palestinian Authority (PA) declared it has boycotted the American administration since it recognized Jerusalem as Israel's capital in December 2017 and moved its embassy in Israel to Jerusalem last May.

The U.S. administration has taken several steps against Palestinians, including shutting down the Palestine Liberation Organization (PLO) office in Washington and cutting aid to the only UN agency providing support to the Palestinian refugees.