September 29, 2020
Foreign Trade

Foreign Affairs Ministers of Chile and Brazil renew momentum of the bilateral agenda and highlight economic and political collaboration

Foreign Affairs Ministers of Chile and Brazil renew momentum of the bilateral agenda and highlight economic and political collaboration
Also, both Ministers agreed on the importance of accelerating and jointly participating in the development of the Transpacific Cable Project.

Within the framework of the Chile-Brazil business summit that was organized by the Chilean Federation of Industry (SOFOFA) and the Brazilian National Industry Confederation, the Foreign Affairs Ministers of both countries, Andrés Allamand and Ernesto Araújo, reaffirmed their commitment to strengthening relations for mutual economic and political development.

The meeting brought together more than three hundred businesspeople from both countries and counted with the unprecedented participation of the Foreign Affairs Ministers of both countries. Minister Allamand was accompanied by International Economic Relations Undersecretary, Rodrigo Yáñez, and Director General of the Export Promotion Bureau (PROCHILE), Jorge O’Ryan. 

On this occasion, Minister Allamand mentioned how Chilean-Brazilian relations were long-standing and the importance of Brazil as Chile’s main business partner in the region. He also spoke of the importance of national investment in Brazil, which at present has reached US$35 billion.  

The Minister also emphasized the collaborative nature existing between both countries, which is exemplified by the Chile-Brazil Free Trade Agreement (FTA) and the expressions of support shown for Brazil before international organizations.

“Brazil is a strategic ally and more than just our third business partner after the US and China. Brazil is our first destination in terms of investment. We share a vision of regional integration and free trade. Also, Chile has supported Brazil in its interest in accessing the Organization of Economic Cooperation and Development (OECD) as well as its presence in the UN Security Council,” explained Minister Allamand.

For his part, his Brazilian counterpart, Minister Ernesto Araújo, in addition to emphasizing the role of bilateral relations between both countries, agreed with Minister Allamand in recognizing the importance of the FTA with Chile. He went on to explain that its approval in Congress is top priority as far as the Brazilian Government is concerned. “I hope to have news regarding this very soon. The Agreement contains excellent clauses in terms of multilateral economic matters which will allow Brazil and Chile to play a leadership role beginning with this agreement as a starting point,” he said.

In addition to the above, both Foreign Affairs Ministers coincided on the importance of jointly promoting and participating in the development of the Transpacific Cable Project.

“Brazil generates more than 60% of all data in South America, and as such, plays a key role in this Transpacific Cable Project linking South America to Asia, via Australia. Such a project will give a strong boost to regional integration and give rise to a South American digital corridor,” highlighted the Minister.

“The submarine cable is our top priority. It represents the construction of the digital societies that we must become. Due to the pandemic, it has been necessary to speed up its development. So that our digital societies, based on these new technologies, can dovetail into free, open and democratic societies,” emphasized Minister Ernesto Araújo.

Lastly, Foreign Affairs Minister Araújo highlighted the need to continue strengthening the bilateral links between Chile and Brazil in matters of political collaboration for the development of both nations within the region with the creation of a Santiago-Brasilia Axis.