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Roadmap to strengthen Chilean trading relationship

ProChile, the Chilean government agency for international promotion, has presented a new roadmap emphasizing innovation, cocreation and sustainability to strengthen Chile’s trading relationships with Europe.

Rolling out a series of projects, cooperation agreements and new public policies, Chile is aiming to enter a new era in international strategy.

The country is seeking to develop further synergies capable of responding to global challenges, taking it well beyond the mere realm of export and import of products and services.

While Europe is a historic and strategic trading partner, Chile’s exports to the old continent have not recovered to their pre-pandemic levels.

More than a temporary phenomenon resulting from the public health crisis, this is a direct result of the diversification policy implemented over the past decade, which has redirected a large share of Chilean exports to other regions of the world, particularly Asia.

The situation is, however, also a consequence of the profound change in European consumption patterns, which are increasingly preoccupied with social and environmental impacts that, although not recent, have been amplified by the pandemic.

With its new roadmap, the Chilean government is seeking to put Europe back at the heart of its strategies for internationalisation.

Beyond volumes exported, the country is aiming to maintain its relationship with Europe as an essential trading partner to remain at the forefront of future consumption requirements and challenges.

“If Chile has succeeded in remaining the Latin American leader in terms of foreign trade, innovation, business climate and financial stability, this is largely thanks to our historic ties with Europe and particularly the United Kingdom,” explained Nicolás Poblete, Director of ProChile in the UK.

“The country has always viewed us as a reliable business partner and this has encouraged us to work tirelessly to meet the highest international standards.

“It is essential for us to maintain a relationship of proximity and trust and to continue to progress, as a country, in line with changes in Britain’s standards and regulations.”

In particular, ProChile is strengthening initiatives targeting sustainable progress and connecting Chile’s main innovation ecosystems, start-ups and scale-ups with Europe.

Particular attention is being paid to the food and green hydrogen sectors in which the country stands out amongst world leaders.

At the end of 2021 and in 2022, ProChile

will focus its efforts on promotional activities such as forums, exhibitions and seminars, with a special emphasis on the German, Spanish, French, Dutch, Italian and British markets.

Chile spans approximately 750,000 km² and has 19.5 million inhabitants, located in the extreme south of Latin America.

With an open export-oriented economy, the GDP of USD 252.9 billion (2020) is roughly 60 per cent dependent on international trade.

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