Chile is widely recognised as the best managed economy in South America and has enjoyed regular periods of steady growth. It has long been open to foreign investment, including from the UK which is the 4th largest investor in Chile. The country has an extensive network of Free Trade Agreements and economic association agreements. It is also an associate member of Mercosur. This network provides access to almost 1.2 billion consumers world-wide.
What are the opportunities?
Chile is known for its macroeconomic stability and for being a country open to foreign investment - its recent economic success has been built on the exportation of copper (the world's largest exporter), as well as agriculture, forestry and fish (salmon). Numerous successful Free Trade Agreements have been implemented - e.g. the EU, US and Japan.
Many foreign companies look at Chile as being a stepping-stone to managing or expanding their business into the rest of South America - it is a stable market and a good place to get used to doing regional business in. Overhead costs are relatively low and the workforce generally well educated. On average foreign SMEs enjoy the most success by finding the right local partner, either through a JV or acquisition.
Specific opportunities for UK business are
•Energy (inc Renewable Energy)
•Consultancy opportunities cut across all sectors.
The information provided above is merely an overview; should you require further details you can obtain comprehensive international trade assistance from UK Trade and Investment (UKTI). To find out more information about this country, visit the UKTI Chile web page.
If you're interested in attending an event relating to this country or the possibility of joining a trade mission, please visit the UKTI East Midlands website. If you would like to speak to a UKTI International Trade expert about doing business with this country, please call the UKTI East Midlands office on 01332 826394.