Chilean Exports Reach a Record $39 Billion

godking
12 January 2006 5:00am

Chilean exports advanced 35 percent in 2005 compared to the previous year totaling $39 billion, according to the International Economic Relations Office, (DIRECON). Foreign trade now is equivalent to 65 percent of Chile´s GDP.

Carlos Furche, head of DIRECON, said the free trade agreements signed by Chile have helped more than double exports in the last six years. “In 1999, Chile exported $16 billion worth of goods and services, and in 2005 (that volume) totaled $39 billion”, said Mr. Furche. “That shows Chile´s consolidation with an economy whose main engine is foreign trade”.

Asia has become Chile´s main trade partner with a 37 percent value share. However, Mr. Furche said Chile must move faster towards the services sector becoming the bridge with Asia for the rest of Latin America, and the natural platform “for Asians to make business this side of the Pacific”.

“Asia is a priority, the Chilean government is promoting business and exchanges with China, India, South Korea and Japan”, he added recalling that a free trade agreement is waiting for ratification in the Chilean Congress. Talks for a partial agreement with India have ended successfully and with Japan preliminary negotiations have begun.

Another significant area for Chilean trade is Mercosur, “which has become the main market for several Chilean products”.

“We´ve insisted in improving trade relations with Mercosur members. We´re finishing an Economic Complementation agreement with Bolivia and advancing with Peru and Ecuador in similar agreements,” revealed Mr. Furche.

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