Chile targets expanded partnerships
In a significant move to strengthen economic ties and promote new business opportunities, four Chilean startups are set to explore collaboration in Singapore and Thailand. This exciting development is part of the 1st Chile-ASEAN Business Summit, an event organised by ProChile, an agency under Chile's Ministry of Foreign Affairs.
The summit, taking place from September 8-9 in Indonesia and September 10-12 in Bangkok, aims to foster economic growth and create a two-way bridge for trade between Chile and the ASEAN region. The Bangkok leg of the event also commemorates the 10th anniversary of the Free Trade Agreement (FTA) between Chile and Thailand, an agreement that has already enabled greater market access and bilateral trade between the two countries.
The FTA has been instrumental in expanding Chile's exports to Thailand, with the country currently exporting grapes, cherries, kiwis, blueberries, and apples. However, there is potential for Chile to expand its exports to include beef, pork, poultry, and processed foods. Thailand's partnership with Chile also creates opportunities for processing Chilean raw materials and exporting finished goods back to Chile.
The 1st Chile-ASEAN Business Summit presents opportunities not just for traditional industries, but also for technology-driven ventures. About 20 Chilean companies will participate in the summit to explore partnerships, particularly in sectors like agrifood, seafood, services, and the creative industries.
Chile is looking at emerging industries beyond agriculture, recognising the growing fascination with Asian cultures such as those from Japan, Korea, and China in Chile. This fascination has led to an increase in demand for Asian products and cultural exports, including Thai culture.
The FTA between Chile and Thailand undergoes regular reviews to ensure it remains beneficial for both parties. Mr. Arriagada, a representative from ProChile, expressed that the FTA will open opportunities for collaborations between the two countries, furthering Chile's aim to increase bilateral trade and investment cooperation with Thailand and the ASEAN region.
In conclusion, the 1st Chile-ASEAN Business Summit promises to be a significant event in strengthening economic ties and promoting new business opportunities between Chile and the ASEAN region. The potential for technology-driven ventures, increased trade, and cultural exchange makes this summit an exciting prospect for both parties.
