(Kuala Lumpur, 2nd) The Chilean Trade Promotion Bureau (ProChile) pointed out that Chile is intensifying efforts to strengthen trade relations with Malaysia, building upon the existing Malaysia-Chile Free Trade Agreement (MCFTA) and the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) framework.
ProChile Director Fernandez said that Chile has vast opportunities to further diversify exports to Malaysia to support SMEs in both countries as well as promote high value-added products.
“At the same time, ProChile hopes to leverage its extensive network of trade agreements and logistical advantages such as free trade zones to position Chile as a gateway for Malaysian enterprises into Latin America.”
“This includes promoting business delegations, establishing closer partnerships, and exploring new opportunities in key sectors, so that both countries can benefit from increased market access through the MCFTA and CPTPP.”
In a recent exclusive interview with Bernama, he said Malaysia is currently Chile’s third largest export destination among ASEAN countries, while ASEAN as a whole accounts for less than 1% of Chile’s global exports.
“However, almost 40% of our exports go to Asia, so we believe there is opportunity to further strengthen ties with ASEAN, especially Malaysia, since our two countries already have a free trade agreement.”
Fernandez emphasized that Chile’s high-quality export products can reach Asian markets across the ocean, but are currently mainly concentrated in China, Japan, South Korea, and India.
“We are confident that as people and businesses in Southeast Asia and Malaysia learn more about Chile, they will be more willing to conduct business with us.”
He said that Chile sees tremendous potential in areas such as food exports, including agricultural and seafood products. Currently, about 40% of Chile’s output is exported to Asia, while the proportion exported to ASEAN countries remains below 1%.
He added that the fields of services and innovation also provide opportunities for deepening cooperation, as Chile is providing more services and innovative solutions to industries such as agriculture, mining, and aquaculture.
“We possess international expertise and have established a network of many companies, offering high-end technology and services.”
“We have already exported these services to other countries in the Americas and Europe. Last year, our total service exports hit a record of over US$2.9 billion (RM12.151 billion). We are confident that we can also offer these services to Malaysian companies.”
Fernandez pointed out that ASEAN countries, including Malaysia, are important targets for Chile’s export diversification.
“Chile is a reliable business partner. We produce not only minerals, but also healthy, safe, and sustainable food, as well as world-class services and technology.”
“Chilean enterprises are always ready for collaboration, and ProChile is very willing to support them. We welcome you to contact our Kuala Lumpur office for more information about Chile.”