Chile targets UAE to expand its GCC trade network

The seminar programme, organised by the Trade Commission of Chile (ProChile) with the support of the Department of Economic Development in Dubai, will be part of the 'Chilean Week 2009', a display of the unique economic and cultural landscape in Chile, being held in Dubai from 17th to 24th October.

The 'Chilean Week 2009' will also mark the opening of the embassy of Chile in the UAE, the first diplomatic mission of the Latin American republic in the GCC.

Designed to introduce the vast opportunities for trade and investment in Chile, the two-day seminar programme will have three different sessions focusing on investment, logistics and engineering services. Each of the sessions will highlight key areas where businesses and entrepreneurs in the UAE can take advantage of Chile's position as a thriving export market and investment destination.

Critical sectors in which Chile has been successfully pursuing foreign investment are its agri-business and infrastructure. Speakers at the seminar will also present the world-class construction, engineering and architectural expertise in Chile, renowned for its emphasis on lower costs and renewable energy.

Commenting on the seminar programme, Mr. Carlos Salas, Trade Commissioner of Chile in the UAE, said that Chile can provide the right solutions and opportunities for expanding economies like the UAE and other Gulf nations.

Mr. Salas said:

"Political and economic stability, along with a highly skilled workforce, have helped Chile to develop a sustainable economic model. The country has productive partnerships with all major trading blocs and consumer markets, accounting for 90% of world's GDP. It also has the most competitive business environment in South America."

Latest rankings from organisations such as the IMF, World Bank and the Organisation for Economic Co-operation and Development (OECD) recognise Chile as the most stable, safest country in South America and a good business partner. Chile also ranked first in Latin America in the most recent Global Competitiveness Index published by the World Economic Forum (WEF).

"Foreign direct investment (FDI) in Chile exceeded $12bn in 2008. Currently there are over 4,000 foreign companies, from at least 60 countries, operating in Chile. The government has succeeded in promoting investor confidence through risk minimisation and ensuring legal guarantees on investment," Mr. Salas concluded.