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It doesn't matter whether it's as close as Windsor or as far as Hong Kong or Zimbabwe, the Michigan District Export Council has someone who's been there and done that.  We encourage you to give us a try.

Chile

Introduction

When most people think of Chile, its unique geography and natural resources usually come to mind. Though its mass is slightly smaller than twice the size of Montana, Chile is the longest, thinnest country in the world. Bordered on one side by the Pacific Ocean and the Andes Mountains on the other, Chile's expansive desert in the north gives way to mountains, lakes, volcanoes, glaciers and finally Patagonia, the arctic tundra it shares with Argentina.

Besides being physically breathtaking, Chile has a rich and vibrant culture. Chile's market reforms have transformed its economy, making it one of the most dynamic in the region and securing its position as a Latin American business hub.

With the passage of the U.S.-Chile FTA, there are more reasons than ever to consider expanding your business to Chile. In addition to the new level playing field afforded by the FTA, the recent strength of the Chilean peso - up more than 20% against the dollar over last year - makes U.S. products and services even more competitive than ever.

U.S.-Chile Free Trade Agreement

Chile is a promising market for a wide range of U.S. goods and services, and the new Chile-US Free Trade Agreement (FTA) will offer American companies even greater access to this growing market. The symbolic importance of the Chile-USA FTA far outweighs the economic size of Chile. This agreement establishes the first FTA negotiated in Latin America since the North America Free Trade Agreement (NAFTA) in 1993.

As one of the most dynamic and promising markets in the region, Chile holds a commercial influence in South America due to the energy and professionalism of its entrepreneurs, the transparency of its regulation and the predictability of its decision makers. While the U.S.- Chile FTA Agreement does involve elimination of tariffs for US products to Chile, non-tariff provisions may have an even greater impact by further strengthening an already open business climate between the two countries. Specific obligations in areas such as intellectual property, services, investment, temporary entry of businesspersons, and telecommunications may serve as model for future trade agreements.

Learn more about the U.S.-Chile FTA and its implications for U.S. exporters: Here you will find information on tariff elimination schedules, impacts of the FTA on your product or service, new opportunities for U.S. companies, frequently asked questions and more.

Streaming Market Brief

Exporting to Chile just got easier! With a brand-new U.S.-Chile Free Trade Agreement (FTA) in place and a country hungry for U.S. products and services. View this webcast on Chile to learn more about the market and opportunities that the FTA will create for U.S. exporters!

Webcast: - Ambassador William Brownfield and Senior Commercial Officer Americo (Mack) Tadeu discuss ways that your industry will benefit from the FTA.

Best Prospects for U.S. Companies:

The U.S.-Chile FTA creates many opportunities in a wide variety of industry sectors. It is now easier than ever for U.S. companies to promote and sell their products and services to the most dynamic market in South America. For first-time and seasoned exporters, Chile offers U.S. businesses a comparable rule of law, transparency and professionalism. Learn more about how the FTA will impact your industry.  Click here for sector specific information.

And more...

Michigan Exports to Chile

Success Stories:

The U.S. Commercial Service helps companies like yours every day to find international buyers, agents, distributors and partners for your products. Learn how CS Santiago organized a promotional event for Rochester, New York-based security provider Lenel Systems that resulted in $50,000 worth of sales in one day!

CS Santiago can also help your company find a local partner and representative for your services. Learn how Project Development International benefited from the U.S. Commercial Service and the role that the new U.S.-Chile FTA played in their success.

Upcoming Events in Chile:

 Read about other news and events

Note on Banking…

The U.S.-Chile FTA contains many provisions that will change the environment for U.S. exporters, including banking in Chile. Some of the key requirements asked of the U.S. investor are:

1. RUT ID number (Equivalent to the U.S. Federal ID number). It takes approximately 60 days to get this number;
2. Local corporate tax payment schedules for the year in which the request for a bank account is made;
3. Balance sheets of the past two years; Proof of at least two years of local operation.

An alternative is to operate with a US bank account with correspondent banks in Chile. Each transaction will cost US$15 with the additional delays brought by the likely fact that the US investor will most probably have to perform the foreign exchange operation as well. With the FTA, special incentives exist to foreign investors such as fixing the tax rate and other benefits provided by the Law Decree or D.L. 600. However, practical issues such as opening a bank account continue to be cumbersome.

For more information on changes to the banking industry, please see "banking"

Contact us:

U. S. Commercial Service - Santiago, Chile
Senior Commercial Officer Americo (Mack) Tadeu
Unit 4111
APO AA 34033
Tel: (56-2) 330-3705, Fax: (56-2) 330-3172
Contact us at: santiago.office.box@mail.doc.gov 

Additional Information:

Please see the following for additional information about the Chilean market:

• Chile: A Reliable Partner for U.S. Business   - From deserts in the north, through the majestic Cordillera with the tallest peak in the Western Hemisphere at 22,000 feet, to the arctic conditions of Tierra del Fuego, Chile is one of Latin America's most dynamic and promising markets. 

• Chile Free Trade Agreement - On December 11, 2002, U.S. Trade Representative Robert Zoellick and Chilean Foreign Minister Soledad Alvear announced the successful conclusion of negotiations for the U.S.-Chile Free Trade Agreement (FTA).

• Chile WebGuide - a comprehensive overview of the Chilean market.

• http://www.emich.edu/ict_usa/CHILE.htm  - provides a comprehensive overview of the Chilean market for information and communications technology markets.

• The Export Channel            Expand your vision! What’s on?  Insightful, interactive, international business Webcasts, brought to you by the U.S. Commercial Service.  Expand your vision now!

  Market Brief In-country experts share unique perspectives and new opportunities for markets around the world.

  Chile, one of the most dynamic and promising markets in Latin America... Click on the picture.

   

   

Date Updated: March 27, 2007