Visit Spotlights Continuing Abundant Trade Opportunities in Chile
Nearly four years after implementation of the U.S.-Chile Free Trade Agreement (FTA), opportunities in Chile continue to abound, according to the head of the American Chamber of Commerce in Chile.
Mateo Budinich, president of the American Chamber in Chile, stopped by the California Chamber of Commerce recently to emphasize that California companies should keep Chile in mind when planning future trade and investment projects.
Since the U.S.-Chile FTA was implemented on January 1, 2004, bilateral trade between Chile and the United States has more than doubled. The U.S.-Chile FTA is considered a template for a host of future free trade agreements, including an eventual Free Trade Area of the Americas.
Increased Trade Two-way trade in goods between the United States and Chile rose to $16.28 billion in 2006. Exports to Chile of petroleum, machinery and fertilizer from the United States have increased markedly.
Chile is the United States’ 28th largest export partner. Top exports from Chile to the United States include copper cathodes, fresh grapes and salmon. Top exports from the United States to Chile include transmission receptors, computers and diesel trucks.
In 2006, nearly 12,000 U.S. firms exported approximately 5,000 products to Chile. More than 2,000 Chilean firms exported as many different products to the United States.
More than 300 U.S. companies have investments in Chile, according to the American Chamber of Commerce in Chile. Of those, more than 40 use Chile as a platform for services in the region.

Chilean affiliates of U.S. direct investors are estimated to employ more than 58,500 people and their value-added contributed 3.2 percent to Chile’s gross domestic product.

Chile is roughly equal in size to California and home to 16 million people and renowned copper mines. Chile holds $15.3 billion in reserves. In 2003, the Chilean economy began to recover after a 1999 slump, reaching a 3.3 percent growth in real gross domestic product (GDP). GDP grew by 4.2 percent in 2006.

Since 1990, there has been more than $50 billion in direct foreign investment in Chile, which has the most stable and fastest-growing economy in the region.
Those factors put Chile in the best position to promote democracy and political freedom. Chile has now signed 56 FTAs with various countries around the world.
Chile also is California’s 28th largest export partner. In 2006, California exported more than $600 million to Chile, including petroleum and coal products, computer and electronic products, machinery and transportation equipment.
California imports from Chile include fresh fruits, forestry products, wines and seafood.
U.S.-Chile FTA
The terms of the bilateral FTA were concluded in December 2002.
The agreement with Chile was the first U.S. FTA with a South American country.
The U.S. House of Representatives and U.S. Senate passed the FTA in July 2003 by votes of 270-156 and 66-31 respectively.
The votes were held under the Trade Promotion Authority, which allows for an up or down vote with an expedited time frame or “fast track.” Chile also approved the agreement.
CalChamber Position The CalChamber, in keeping with long-standing policy, enthusiastically supports free trade worldwide, expansion of international trade and investment, fair and equitable market access for California products abroad and elimination of disincentives that impede the international competitiveness of California business.
New multilateral, sectoral and regional trade agreements ensure that the United States may continue to gain access to world markets, resulting in an improved economy and additional employment of Americans.
A U.S.-Chile FTA reinforces the idea that the United States can fashion successful trade relations with developing nations. The FTA with Chile builds momentum
to the ongoing effort to establish a Free Trade Area of the Americas.

Visit Spotlights Continuing Abundant Trade Opportunities in Chile
Nearly four years after implementation of the U.S.-Chile Free Trade Agreement (FTA), opportunities in Chile continue to abound, according to the head of the American Chamber of Commerce in Chile.
Mateo Budinich, president of the American Chamber in Chile, stopped by the California Chamber of Commerce recently to emphasize that California companies should keep Chile in mind when planning future trade and investment projects.
Since the U.S.-Chile FTA was implemented on January 1, 2004, bilateral trade between Chile and the United States has more than doubled. The U.S.-Chile FTA is considered a template for a host of future free trade agreements, including an eventual Free Trade Area of the Americas.
Increased Trade Two-way trade in goods between the United States and Chile rose to $16.28 billion in 2006. Exports to Chile of petroleum, machinery and fertilizer from the United States have increased markedly.
Chile is the United States’ 28th largest export partner. Top exports from Chile to the United States include copper cathodes, fresh grapes and salmon. Top exports from the United States to Chile include transmission receptors, computers and diesel trucks.
In 2006, nearly 12,000 U.S. firms exported approximately 5,000 products to Chile. More than 2,000 Chilean firms exported as many different products to the United States.
More than 300 U.S. companies have investments in Chile, according to the American Chamber of Commerce in Chile. Of those, more than 40 use Chile as a platform for services in the region.

Chilean affiliates of U.S. direct investors are estimated to employ more than 58,500 people and their value-added contributed 3.2 percent to Chile’s gross domestic product.

Chile is roughly equal in size to California and home to 16 million people and renowned copper mines. Chile holds $15.3 billion in reserves. In 2003, the Chilean economy began to recover after a 1999 slump, reaching a 3.3 percent growth in real gross domestic product (GDP). GDP grew by 4.2 percent in 2006.

Since 1990, there has been more than $50 billion in direct foreign investment in Chile, which has the most stable and fastest-growing economy in the region.
Those factors put Chile in the best position to promote democracy and political freedom. Chile has now signed 56 FTAs with various countries around the world.
Chile also is California’s 28th largest export partner. In 2006, California exported more than $600 million to Chile, including petroleum and coal products, computer and electronic products, machinery and transportation equipment.
California imports from Chile include fresh fruits, forestry products, wines and seafood.
U.S.-Chile FTA
The terms of the bilateral FTA were concluded in December 2002.
The agreement with Chile was the first U.S. FTA with a South American country.
The U.S. House of Representatives and U.S. Senate passed the FTA in July 2003 by votes of 270-156 and 66-31 respectively.
The votes were held under the Trade Promotion Authority, which allows for an up or down vote with an expedited time frame or “fast track.” Chile also approved the agreement.
CalChamber Position The CalChamber, in keeping with long-standing policy, enthusiastically supports free trade worldwide, expansion of international trade and investment, fair and equitable market access for California products abroad and elimination of disincentives that impede the international competitiveness of California business.
New multilateral, sectoral and regional trade agreements ensure that the United States may continue to gain access to world markets, resulting in an improved economy and additional employment of Americans.
A U.S.-Chile FTA reinforces the idea that the United States can fashion successful trade relations with developing nations. The FTA with Chile builds momentum
to the ongoing effort to establish a Free Trade Area of the Americas.