18 October 2008
Roadshow Highlights Export Opportunities in Chile
Businesses across Australia will have the opportunity to learn about the growing export opportunities in Chile, at a series of seminars Austrade is conducting nationally.
The Minister for Trade Simon Crean said Chile is a market of growing importance to Australia and a gateway into the broader Latin American economy.
“This is reinforced by the Australia – Chile Free Trade Agreement signed on 30 July, Australia’s first Free Trade Agreement with a country in Latin America,” Mr Crean said.
“The Free Trade Agreement will only strengthen our established links with Chile and also provide greater opportunities across the region, which takes effect from 1 January, 2009.
“It is the most comprehensive Free Trade Agreement Australia has negotiated and covers trade in goods, including sugar, services and investment. Tariffs on all existing merchandise trade will be eliminated by 2015.
“Additionally, tariffs covering about 97 per cent of trade in both directions will go down to zero once the FTA takes effect, providing exporters with immediate market access gains.
“The agreement will also reinforce the contribution of both countries to the multilateral trading system and serve as an excellent model for other APEC economies as they work towards deeper economic integration.
Mr Crean said Austrade’s national roadshow ‘New opportunities in Chile and beyond’ has attracted more than 350 business attendees.
"For the first time Austrade will bring CODELCO, Chile’s largest resource company, Xstrata Copper and Antofogasta Minerals to Australia at the same time to meet with Australian mining technology and services companies," Mr Crean said.
“Besides the ongoing opportunities in mining, where Australian businesses are already well established, other growth sectors include renewable energy, water management, wine, aquaculture, farming and horticulture.
Two-way trade between Australia and Chile is growing fast – up from A$574 million in 2006 to A$856 million in 2007.
Australia is also the 4th-largest foreign investor in Chile, with around US$3billion of direct investment.
Austrade’s nationwide ‘New opportunities in Chile and beyond’ seminars are being held from 13- 22 October with earlier events in Melbourne, and Sydney; being followed by Brisbane, 17 October; Adelaide, 21 October and Perth 22 October.
Media Inquiries: Mr Crean's office 02 6277 7420 - Departmental Media Liaison 02 6261 1555