Chile pursues expanded relations

Chile is set to expand its economic ties with the ASEAN region, particularly with Thailand, as the first Chile-ASEAN Business Summit approaches. The event, organised by ProChile, an agency under Chile's Ministry of Foreign Affairs, will take place from September 8-9 in Indonesia and September 10-12 in Bangkok.

The summit aims to promote new business opportunities across various sectors, including agrifood, seafood, services, and the creative industries. Approximately 20 Chilean companies will participate, seeking partnerships and collaborations in these areas.

Chile's current exports to Thailand primarily consist of grapes, cherries, kiwis, blueberries, and apples. However, there is potential for growth, particularly in the export of beef, pork, poultry, and processed foods. This expansion could create a two-way bridge for trade instead of just one way, as Chile also shows increasing demand for Asian products and cultural exports, including Thai culture.

The partnership between Chile and Thailand could also extend into technology-driven ventures. The Bangkok leg of the event also celebrates the 10th anniversary of the Free Trade Agreement (FTA) between the two countries. The FTA has already enabled greater market access and bilateral trade, and it undergoes regular reviews to ensure its continued effectiveness.

The FTA has been beneficial, as it has already opened opportunities for collaborations between Chile and Thailand. For instance, Thailand's partnership with Chile presents opportunities for adding value by processing Chilean raw materials and exporting finished goods back to Chile.

Moreover, Chile is aiming to increase bilateral trade and investment cooperation with Thailand and the ASEAN region. This interest in diversifying trade and broadening the scope of investment is evident in Chile's focus on emerging industries, with about three to four Chilean startups expected to pursue cooperation in Singapore and Thailand.

There is a growing fascination with Asian cultures such as those from Japan, Korea, and China in Chile. This trend further underscores the potential for increased cooperation between Chile and the ASEAN region. Mr. Arriagada, a representative from ProChile, noted that the FTA will open opportunities for collaborations between Chile and Thailand.

In conclusion, the first Chile-ASEAN Business Summit promises to be a significant event in strengthening economic ties between Chile and the ASEAN region, particularly with Thailand. The potential for growth in various sectors, the focus on emerging industries, and the celebration of the 10th anniversary of the FTA between Chile and Thailand make this a promising venture for all parties involved.