• The agreement will permit the exchange of information useful for the decision-making of Japanese companies seeking to establish operations in Chile.

In the context of the opening of Chile’s first Investment Promotion Office in Asia and celebration of the 120^th anniversary of diplomatic relations between Chile and Japan, the director of InvestChile, Carlos Álvarez, and the president of the Japan Institute for Overseas Investment (JOI), Junichi Kondo, have signed a Memorandum of Understanding.

JOI is a public-private body that seeks to contribute to the deepening of Japan’s economic relations with other countries and facilitate the development of Japanese foreign direct investment (FDI) through research and analysis and by making available information that is useful to Japanese investors.

In a joint statement, Carlos Álvarez and Junichi Kondo indicated their intention of establishing closer relations to the benefit of both economies and cooperating in the promotion of Japanese FDI in Chile.

Japan is the world’s third-largest economy and Chile’s principal source of investment from Asia, accounting for an inflow of US$5,717 million between 2009 and 2015, equivalent to some 4% of total FDI in Chile during that period. Over 60 Japanese companies currently have operations in Chile and some have been present there for decades.

Álvarez and Vicente Pinto, Chile’s new investment attaché in Tokyo, also visited the offices of the Japan External Trade Organization (JETRO) where they met with its president, Hiroyuki Ishige.

During the meeting, the representatives of the two agencies discussed Chile’s business climate and the opportunities it offers for Japanese investors, particularly in the more sophisticated segments of the economy.

JETRO’s mission is to support the development of Japan’s commercial and economic ties with other countries.