Doing Business in Chile

The aims of the subject “Foreign Trade and Business in the Republic of Chile” are the following:

1. To analyze the Chilean Economy and Global Trade;
2. To know the business opportunities in Chile;
3. To explore the Chilean trade relations with the country of the student;
4. To know the Chilean Trade Agreements;
5. To examine the profile of the Chilean Companies;
6. To develop a business plan for the Chilean Market.

The Subject “Foreign Trade and Business in Chile” belongs to the following Online Higher Educational Programs taught by EENI Global Business School:

Masters (MIB): International Business, Foreign Trade.

Doctorate (DIB): American Business, World Trade.

Learning materials in or Chile Chile Chili.

1. Credits of the subject “Foreign Trade and Business in Chile”: 2 ;
2. Duration: two weeks.

Chilean Market Access and Free Trade Agreements.

1. Chile and the Latin American Economic Area;
2. Asia-Pacific Economic Cooperation (APEC);
3. Latin American Integration Association (ALADI);
4. Union of South American Nations (UNASUR);
5. Latin American and Caribbean Economic System (SELA);
6. Pacific Alliance;
7. Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP);
8. Protocol Relating to Trade Negotiations Among Developing Countries (PTN);
9. United States-Chile Free Trade Agreement;
10. India-Chile Preferential Trade Agreement;
11. European Union-Chile European Union-Chile Association Agreement;
12. South Korea-Chile Free Trade Agreement (FTA);
13. Chile-Japan Strategic Economic Association Agreement;
14. Colombia-Chile Free Trade Agreement (FTA);
15. Chile-Canada Free Trade Agreement;
16. Panama-Chile Free Trade Agreement (FTA);
17. Chile-MERCOSUR Association Agreement;
18. United Kingdom-Chile Free Trade and Economic Integration Agreement;
19. Mexico-Chile Free Trade Agreement (FTA);
20. Chile-China Free Trade Agreement (FTA);
21. Chile-Hong Kong China Free Trade Agreement;
22. Chile-Indonesia Free Trade Agreement;
23. Chile-Vietnam Free Trade Agreement;
24. Free Trade Agreements with the Costa Rica, Honduras, Guatemala, El Salvador, European Free Trade Association, Central America, Nicaragua, Malaysia, Andean Community, Panama, Peru, Australia, Thailand and Turkey;
25. Global System of Trade Preferences among Developing Countries (GSTP);
26. Andean Community (associate member);
27. MERCOSUR (associate member);
28. Central American Integration System (SICA) (observer country).

1. World Trade Organization (WTO)
   1. WTO General Agreement on Trade in Services (GATS);
   2. WTO Agreement on the Application of Sanitary and Phytosanitary Measures (SPS);
   3. WTO Agreement on Technical Barriers to Trade (TBT);
   4. WTO Agreement on Preshipment Inspection (PSI);
   5. WTO Agreement on Safeguards (SG);
   6. WTO Trade Facilitation Agreement (TFA).
2. World Customs Organization (WCO)
   1. Revised Kyoto Convention (RKC).
3. International Bureau of Containers and Intermodal Transport (BIC);
4. International Civil Aviation Organization (ICAO, Chicago Convention);
5. International Maritime Organization (IMO)
   1. International Convention for Safe Containers (CSC);
   2. Convention Relating to Temporary Admission (Istanbul Convention).
6. Convention on the Carriage of Goods by Sea (Hamburg Rules, UN);
7. International Road Transport Union (IRU)
   1. TIR Convention;
   2. Guidelines on Safe Load Securing for Road Transport.
8. International Chamber of Shipping (ICS);
9. Customs Convention on Containers (CCC, UN) - not a member.

American Trade and Economic Organizations:

1. Inter-American Development Bank (IDB);
2. Organization of American States (OAS);
3. Economic Commission for Latin America and the Caribbean (ECLAC);
4. Africa-South America Summit (ASA);
5. Forum for East Asia-Latin America Cooperation (FEALAC);
6. Summit South American-Arab Countries (ASPA);
7. Community of Latin American and Caribbean States (CELAC)
   1. European Union-CELAC Summit.

Global Organizations:

1. Community of Portuguese Speaking Countries (observer country);
2. Pacific Economic Cooperation Council (PEEC);
3. Organization for Economic Cooperation and Development (OECD)
   1. OECD anti-corruption measures.
4. United Nations (UN)
   1. Conference on Trade and Development (UNCTAD);
   2. International Trade Centre (INTRACEN);
   3. Commission on International Trade Law (UNCITRAL);
   4. World Intellectual Property Organization (WIPO).
5. World Bank (WB);
6. World Trade Organization (WTO);
7. International Monetary Fund (IMF).

The Republic of Chile

Chile is the regional leader in Latin America, mainly due to its democratic stability that ensures an excellent environment for business and foreign direct investment (FDI).

1. The Republic of Chile has a population of 17 million people;
2. Chilean official language is Spanish;
3. Capital of Chile: Santiago de Chile;
4. Area of Chile: 756,102 square kilometers;
5. Chilean currency: Peso;
6. Chile has borders with Peru (160 kilometers, Concordia Line), Argentina and Bolivia;
7. Chile gained the independence from Spain in 1810;
8. Abolition of Slavery in Chile: (1823).

Religion in Chile: Christianity.

1. Catholicism (15 million);
2. Protestants (Chile has 2 million Methodists).

Chile belongs to the Western Civilization - Latin American Economic Area.

Chilean Economy.

1. If anything characterizes the economy of Chile is the continuous path of economic growth, placing it among the thirty most dynamic economies;
2. Chile is one of the lowest-risk countries in the World;
3. The Republic of Chile ranks first in Latin America among the most competitive economies in information technology (IT) and communications (World Economic Forum);
4. Chile ranks fifteenth among the most interesting countries for doing business and foreign direct investment (FDI);
5. In the Global Competitiveness Index, Chile took the 28th position out of 134 economies;
6. The Corruption perceptions index of Chile obtained a score of 6.9 (Transparency International);
7. Chilean GDP: 257,968 million dollars:
   1. Primary sector: 3.6%;
   2. Secondary sector: 36%;
   3. Tertiary sector: 60.4%.
8. GDP growth: 1.9%. Forecast: 2.5% (public expenditure and external sector);
9. Unemployment: 6.4%;
10. Chilean inflation: 4.6%;
11. The main Chilean economic sectors are mining, manufacturing, fisheries, and construction;
12. Chile holds the third place among the ten most successful Latin American and Caribbean Countries in attracting the foreign direct investment (UNCTAD);
13. The modern Chilean telecommunications systems, competitive banking sector, good public infrastructure, high-quality services, and skilled workers accessibility are top factors to attract the foreign direct investment;
14. Since 1990, the Government of Chile has implemented public policies to promote and consolidate businesslike and responsible macroeconomics management, economic openness, and international integration, steady institutions and equitable society in which all the Chilean can enjoy the benefits of economic development;
15. The Economic Growth of the Republic of Chile has been followed by a severe drop in the public debt, stabilization of the Chilean foreign accounts and the increase of the Chilean international reserves;
16. These competitive advantages of the Republic of Chile are reinforced by his open economy that has meant greater competitiveness, growing international trade and fast integration into the global markets;
17. The Republic of Chile was the 30th most dynamic economy in the World.

CENCOSUD is one of the largest distribution companies in Latin America, being present in Argentina, Brazil, Chile, and Peru, where the firm has developed a successful multi-strategy.

Chilean International Trade.

1. 40% of the Chilean foreign trade is made with Asia;
2. The main trading partners of Chile are China, Argentina, Brazil, USA, Japan, and South Korea;
3. Top Chilean export products are copper, molybdenum, ferromolybdenum; pulp, salmon, and wine (these products represent 64% of the total Chilean exports);
4. Fall in international prices of copper (6.9%);
5. Increase of the agro-food exports;
6. In the last fifteen years, the Chilean services industry has generated more than 50% of the gross domestic product of the Republic of Chile;
7. Chilean service exports have increased at a rate of 6%;
8. Chile is a member of the APEC, TPP, Pacific Alliance.

Foreign Direct Investment (FDI) in Chile.

1. The Republic of Chile has received 22,002 million dollars in foreign direct investment, just behind Brazil and Mexico;
2. Almost 50% of the FDI received in Chile is invested in the mining sector;
3. Top destinations of the Chilean foreign direct investment: Argentina, Brazil, Peru, Colombia, and the United States;
4. New legal framework for the foreign direct investment.

(c) EENI Global Business School (1995-2023)
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