JAKARTA, Sept 7 – ASEAN presents significant opportunities for Chilean businesses, particularly in sectors where Chile has traditional strengths, such as mining, forestry, agriculture, manufacturing and the burgeoning digital economy sector, said ASEAN secretary-general Dr Kao Kim Hourn.
Speaking at the Commemoration of the 5th Anniversary of the ASEAN-Chile Development Partnership and the 57th ASEAN Day in Santiago, Chile, on Wednesday, Kao highlighted the region’s diverse markets, growing consumer base, and extensive network of free trade agreements.
“Engagement with ASEAN would promote the diversification of Chile’s economic relations, which would, in turn, reduce dependence on traditional markets and advance integration with the rest of the world,” he said.
The secretary-general also urged Chilean businesses to take advantage of investment opportunities in ASEAN, pointing out that Chile’s foreign direct investment (FDI) inflows to ASEAN countries remain relatively small and stressing the need for continued collaboration.
Chile’s trade with ASEAN hit a record US$5.17 billion (US$1=RM4.33) in 2022, an 80.2 per cent increase since 2020, driven by key sectors including electrical machinery, vehicles and parts, and copper products.
Despite a slight dip to US$4.22 billion in 2023, according to the ASEAN Statistics database as of July 2024, trade remains robust and above the five-year average.
