The Chilean strategy
Chilean Foreign Minister Heraldo Muñoz. Image: Ministerio Secretaría General de Gobierno/Flickr

Chilean Foreign Minister Heraldo Muñoz. Image: Ministerio Secretaría General de Gobierno/Flickr

4th October 2017

Heraldo Muñoz, Minister of Foreign Affairs of Chile, states the country’s integration strategy
“We believe that the regional market is the most appropriate for export diversification. It is the most important market for exports of manufactures and services, and for most exporting companies, especially small and medium-size enterprises,” said Heraldo Muñoz, Minister of Foreign Affairs of Chile, addressing attendees at the celebration of the 40th anniversary of the Latin American Program of the Wilson Center, in Washington D.C.  
However, intra-regional trade is not large enough in Latin America.  While it represents 69 percent of total trade in Europe, and 50 percent in North America, it’s only 26 percent in Latin America and the Caribbean, the Minister said.
“Regional integration has been an important part of the historical discourse of most if not all Latin American and Caribbean countries. However, achievements have been scarce and geopolitical rivalries endure,” Muñoz remarked.
“It is clear that we have some important outstanding tasks. We must boost productivity, increase innovation, adapt our economies to new technologies and diversify our exports,”
the Minister added.
Amid this bleak scenario, there are some instances in which integration has gone deeper than expected. Chilean businesses have invested $120 billion abroad, 80 per cent of that in Latin America, the Minister said. Now, he added, business people care about their neighbors, and their stability. Chilean …

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