CHILE LOOKS TO MORE TRADE WITH AND INVESTMENTS FROM AFRICA

SANTIAGO DE CHILE, Chile has taken action in recent months to strengthen its ties with Africa, with emphasis on trade and investment, a strategy highlighted today by the economic leadership of the Foreign Ministry.

Paulina Nazal, director of International Economic Relations (Direcon) in Chile, spoke with national business leaders to encourage them to raise their level of commitment to Africa.

'In a world complex and globalised today, an open economy like Chile, must explore new markets for its exports of goods and services, in addition to investments,' said Nazal.

She added that in the last two years the Direcon and ProChile have implemented an approach to several areas of the African continent.

The expert pointed out that with the Plan Africa, so far, the work to approach the area with the private sector has arisen, through trade missions and various promotional actions to encourage investment.

In this regard, the opening of a Chilean trade office in South Africa and Morocco, as well as the organisation of various missions to North African countries such as Egypt and Algeria, were highlighted.

'According to our figures, today we have more than 250 Chilean companies doing business with Africa. Of the total Chilean exports, only 0.7 percent is directed to that continent, which means that we have a very large space to cover with our trade with that region,' she noted.

Direcon recalled that according to the International Monetary Fund (IMF) between 2016 and 2020, Africa will be the second fastest growing economy in the world with a projection of 4.3 percent.

Source: NAM NEWS NETWORK

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