• Chile is the most dynamic, competitive and open market in Latin America with the strongest macroeconomic fundamentals. Population - 17 million.

• It has the highest investment grading in the region according to Moody’s, Standard & Poor and Fitch IBCA. The average growth rate of Chile in 1990-2003 was 5.5% and between 1987-1997 it was 7%, highest in Latin America .

• Chile's corporate tax of 17 percent is one of the lowest in the world.

• Cost of electricity also one of the lowest in the world. with collaboration from Korean companies. Photovoltaic cells will be produced in this park.

• Chile is investing 1.35 billion dollars in building the largest solar energy park in Latin America

• Chile is a major destination for foreign direct investment in Latin America. Besides attracting large investment; Chile has also become a major investor in the rest of Latin America . The country’s external investment was 6.8 billion dollars in 2006.

• Chile does more trade with Asia than with Nafta or Europe . China is the second largest trade partner for Chile while Japan is the third largest and Korea the sixth largest. China has replaced USA as the largest importer of Chilean copper.

• Chile has also been successful in diversifying its exports, reducing its dependence on copper from 80% in the 1980s to 35% now.

• As for Chile ’s trade regime, it is one of the most liberal and transparent in the world. It has a single uniform tariff of 6% for imports. It was brought down unilaterally from 15% in the early 90’s, making it the lowest tariff among the important Latin American countries.

• Chile is the most competitive market in Latin America . Chile is placed 22nd among 104 economies, ahead of Spain , Belgium and France . Chile also stands as the most transparent country in Latin America and is in 20th place among a total of 146 economies, according to the Corruption Perceptions Index of Transparency International .

• A World Bank survey on ‘Doing Business in 2004’ says that starting a new business in Chile involves nine procedures and 28 days only, again the best indicators in Latin America. In 2004,

• An associate member of Mercosur.

• Chile has signed FTAs with about 40 countries and is pursuing more. It has free trade agreements with the US , EU, Canada , China, Korea and many Latin American countries. Chile hasconcluded a quadrilateral FTA with Singapore, Newzeland and Brunei .

• Chile has signed a PTA with India.

• Chile has concluded a FTA with China. This is the first FTA of a Latin American country with China. Also this is the first time China has signed FTA with a single country.

• Main exports : copper ( 42 percent), fresh fruit, salmon, forestry products, wine and wood pulp

• Chile became an Associate member of Andean Community (CAN) on 8 June 2007.
  
  The Associate membership is important for both CAN and Chile. The exit of Venezuela from CAN in 2006 has now been compensated. CAN was in a depressed mood when Venezuela, the richest member left the club to join Mercosur. The Chilean economic stability, growth and success will now inject new life into CAN and make it more vibrant besides inspiring the other members namely peru, bolivia, colombia and ecuador. Chile will be able to use this Association to improve its relations with Bolivia and Peru with whom it has historical border problems. The Chilean president Madam Bachelet attended the CAN summit on 11-14 june in Tarija, Bolivia.
  It may be recalled that Chile had left CAN in 1976 when it came under military dictatorship.
  
  Chile is now Associate member both in Mercosur and CAN. It was the first Latin American country to sign a FTA with China.

• Chile has becoming a OECD member in January 2010

  Chile is the first South American country to join OECD. The country has been in negotiations to join the organization for two years. This means that Chile´s investment and tax policies will have to be in conformity with OECD standards.

  Currently, Mexico is the other Latin American member of the organization.

Bilateral Trade (US $ million)

• Principal items of India ’s exports : cars, pharmaceuticals, chemicals, engineering products, two-wheelers, textiles and leather products, yarn and iron and steel products. 

• Principal items of India ’s imports : copper ore and concentrate ,copper cathodes, Iodine , Molybdeneum , Newsprint and fish meal.

PTA with Chile signed in March 2006

Under the PTA India gives preferential duties to 178 items of Chilean exports and Chile gives preferential ( average- 20% ) duty to 296 Indian exports.

• Chilean products that get preferential duty in India
• Preferential tariffs given by Chile to India´s exports

TCS buys BPO firm in Chile

TCS has acquired COMICROM, the Santiago-based BPO firm for 23 million dollars. With this TCS expects its annual business in Latin America to reach 100 million dollars.

Tata Consultancy Services has been awarded the bid for improving the fleet management services of the huge transport system of Santiago ( may 2006) . 

Tata Consultancy Services had clinched contracts worth over US$30 million from two Chile-based companies in June 2006.

The company would manage the business process outsourcing (BPO) and IT operations for Transantiago, the modernised integrated public transportation system planned for Chile's capital, Santiago, TCS informed the Bombay Stock Exchange.

"The Transantiago initiative will bring a truly world class public transportation system to Chile... TCS will bring the very best global experience, personnel and quality methodologies to ensure the project's success" TCS Latin America BPO business CEO Henry Manzano said.

It has also bagged a 5-year contract from a leading Spanish banking and financial group to manage the entire set of back office operations for the bank's loan and credit business in Chile.

In November 2005, TCS acquired Comicrom, the largest BPO firm in Chile in a bid to jumpstart its BPO business in the region.

Over next 3 years, TCS will lead a consortium of 4 other service providers to build and manage customer care, communications, operational support and information systems for Transantiago. Core IT systems will be built by the TCS' IT division specialising in intelligent transport solutions.  

Iflex has got banking software contracts from Bank of Chile and three other banks

E-valueserve

This Indian co has set up a KPO in Santiago

Polaris Software of India opens centre in Santiago, Chile - May 2009

Polaris Software, a leading Indian Financial Technology Company launched its banking platform Global Universal Banking - Intellect 10.0, for the Latin American market.Polaris has identified Latin America as an integral growth market for its expansion strategy.

The Chile centre would serve as the hub for Polaris' Latin American operations. They plan to hire 100 people for the Regional Innovation and Development Centre.

Thermax gets Chilean order for boilers using non-conventional fuel

They have received the first order from Chile
for a 12 Tons/hr coffee and wheat husk fired boiler valued at US$ 400,000 from Corpora Tresmontes, Chile - a first of its kind in this region.

They are given to understand by their customer, that there is a huge requirement for such boilers there due to abundant availability of such agrowaste fuels in that region and that several Chilean customers are keen
to install such boilers there. They have received list of over 150 customers who are keen to go in for such boilers. They have been advised to conduct a seminar / conference on Biomass based boilers in Chile and in the region.

Seminar on Indian pharma in Santiago 28-29 June 2005

This was organised by the Chilean Health Ministry in collaboration with the Indian embassy and Pharmexcil. This was a follow-up of the successful visit of the Chilean health Minister to India in march 2005. The Minister inagurated the event. About 25 Indian pharma companies participated. Chilean importers, doctors and pharma cos were invited.

A separate seminar on Ayurveda was held on 4-5 July with Indian speakers and companies in collaboration with St Thomas University.

These have opened the one-billion dollar Chilean market for the entry of indian cos. The Chilean government is inviting the entry of indian cos , as part of their strategy to reduce cost of health care.

Business contact

Kabir Daswani of Namaste Importadora is interested in representing Indian cos in Chile

His contact 562-6893166 mail kabir@namaste.cl

Export of food chemicals to Chile

Kabir Daswani of Chile in need for food grade chemicals, (it’s a list of over 200 products) and are in need of reliable suppliers from India.As of now, most of the supplies have come from Brazil and China.  

Contact

Santiago Chamber of Commerce (SCC)

If you wish to visit Chile and meet the right importers, you may contact the Santiago Chamber of Commerce. SCC offers a full package consisting of:

Identification of importers in Chile and arrangement of one to one meetings with potential Chilean customers. Minimum five meetings are guaranteed.

• Preparation of a folder which includes the agenda and a brief profile of the Chilean importers you will meet with
• Import statistics and other related information
• Advertisement in their fortnightly journal.

The charges of the Santiago Chamber of Commerce for the above package are US$ 390. Details of your company and export items have to be sent to them at least 30 days before the date of your visit.

For further details please contact:

Ms. Carmen Gloria Fuentealba

Manager (International Relations)

Santiago Chamber of Commerce

Edificio del Comercio

Monjitas 392

Santiago – Chile

Tel: (56-2) 3607000 / 3607109

Fax: (56-2) 365 4001

Email: cfuentealba@ccs.cl

Website: www.ccs.cl

• Market Access & Trade Website: www.chileinfo.com
• Confederation of Industry and Trade, the country's leading business organization formed by the manufacturing, banking, mining, farming, construction and commerce trade associations (English) Confederacin de la Produccin y el Comercio (CPC):
• Chilean Federation of Industries. Trade association that represents companies from the manufacturing sector (English). Sociedad de Fomento Fabril (SOFOFA):