The Chilean Economy
The Chilean economy has gone through a sweeping transformation over the last quarter century, driven by the government’s unwavering commitment to market liberalization, transparency, and fiscal accountability. Trade, investment and institutional stability have bolstered a widely lauded economic model. While economic efficiency remains a top priority, the government is also working diligently to modernize legal, health care, and education systems and to promote equal opportunity and alleviate poverty. Perhaps most importantly, Chileans themselves have cemented this economic model through their overwhelming support, grounded firmly in a vastly improved standard of living. Average annual GDP per capita, in fact, has more than quadrupled from US$1,704 in 1985-1989 to US$4,262 in 2002.
Another encouraging trend is the gradual reduction of the inflation rate. By the mid 1990s, a rigorous monetary policy had defeated double-digit CPI. Since then, inflation has eased to levels comparable with the G7 nations.
ProChile, The Chilean Trade Commission, is an agency within the Chilean Ministry of Foreign Affairs. The organization’s role is to support and advance Chilean business interests in the global marketplace by assisting in the development of the export process. ProChile is active in establishing international business relationships, fostering the exchange of goods and services, attracting foreign investment and forging strategic alliances. The organization serves as a source of market research, international trade data, and leads for the export industry for both foreign and Chilean firms alike. Though ProChile seeks to stimulate and diversify the country’s export base in general, special emphasis is given to promoting non-traditional products.
Due to its global presence, ProChile remains a crucial source of information for Chilean exporters and potential foreign partners seeking to work with the Chilean export sector. Chilean companies make use of ProChile’s extensive knowledge of foreign markets to identifying opportunities and potential business partners. As a potential partner for Chilean exports you may as well. All of our offices monitor the development of legislative decisions and customs regulations to ensure that exporters are in full compliance with international trade laws.
ProChile also advises Chilean exporters on market trends concerning future developments within the economies of interest. Being aware of new market opportunities for Chilean goods is one of the organization’s most important functions. One way this is done is by monitoring annual changes in Chilean exporters’ global market share and changes in the number of participants involved.
ProChile assumes no commercial liability or financial involvement in the business relationships it helps to form. The organization is strictly dedicated to the promotion of successful business relationships between Chilean enterprises and foreign partners. Investors and companies wishing to do business in Chile are encouraged to contact the ProChile office nearest them.