Chile and Brazil have an Investment Cooperation and Facilitation Agreement that seeks to strengthen economic and trade relations between both countries.

Business opportunities between Chile and Brazil were the central topic of the seminar organized in Río de Janeiro by the Chilean government and Sistema FIRJAN, an association that represents all the industries of Río de Janeiro state.

Chile’s ambassador to Brazil, Jaime Mujica, referred to the potential that Brazilian investments have in the Chilean market. “In the economic and trade area, Brazil is the main destination of Chilean investment abroad. In total it has reached around US$28,000 million in 2016, while Brazilian investment is much less at US$4,000 million.

Pedro Asenjo, head of the Investment Attraction area at InvestChile, said the sectors with the greatest opportunities are mining, energy, infrastructure, the food industry and tourism. At the same time, he recalled that “last year Chile and Brazil signed an Investment Cooperation and Facilitation Agreement that seeks to strengthen economic and trade relations between both countries.”

Óscar Páez, the trade director at the export promotion agency ProChile, presented the external trade statistics and emphasized that Brazil is Chile’s largest trade partner in Latin America.

Meanwhile, the director of FIRJAN International, Frederico Cezar de Araujo, underlined that in the last 20 years the association has received 11 Chilean trade missions in Río and promoted eight trade missions from Río to Chile to seek investment and trade opportunities. “In terms of the business environment, Chile is one of the countries with the best qualifications,” he said.

In addition, Araujo highlighted the relevance of Río de Janeiro state in the trade interchange between both countries. “Most Brazilian exports to Chile come from Río de Janeiro,” he noted.

Source: InvestChile/FIRJAN