Exporting to Chile
Chile and the UK have enjoyed a long and vibrant trading and diplomatic history based on shared values. These include the commitment to democracy and human rights, the development of open markets and commerce, international cooperation and cultural links.
Opportunity for UK growth
Total trade in goods and services between Chile and the UK for the year ending June 2019 was worth £2.2 billion, a 10.7% increase on the same period in 2018. Chile is the UK’s 60th largest export market, and with new investment there’s plenty of opportunity for this to grow (ONS, 2019).
A strong and open market
A member of the Organization for Economic Cooperation and Development (OECD) and the Pacific Alliance, Chile has a developed financial market and economic institutions with well-trained professionals and good infrastructure.
Opportunities for exporters
There are opportunities for UK companies across a broad range of industries. Our trade advisers in the Chile have identified particular opportunities for UK businesses in the following sectors.
British expertise in goods and services
Mining is Chile’s economic engine. With the global mining sector faced with rising demand, UK industry professionals have an opportunity to help towards the whole mining lifecycle in Chile.
The future of Chile’s mining, with increasing concerns about the environment and reduced ore grades, lies in innovation. Innovative technology companies in the UK can find market opportunities to help Chile’s mining industry evolve, adapt and improve.
Mining finance and education
As a global centre of mining finance, the UK can take advantage of the opportunities to offer liquidity to mining projects of any size in Chile. The Chilean mining industry has training needs, and British universities, with world-class geoscience, minerals and materials and engineering research centres, are well-placed to meet these.
There is great demand for infrastructure and construction expertise that the UK can provide. Three new metro lines and 2 railways are planned for Chile, alongside new bus concessions, road concessions, schools, prisons and hospitals. It’s also investing on a large scale in its port infrastructure, and there are plans for a regional airport expansion programme.
Adoption of international building standards
Building information modelling standards based on the UK’s will be obligatory for publicly funded constructions from 2021. This means UK companies can work towards the same international standards in Chile.
Smart city technologies
Chile wants to embrace smart city technology, including for its ports, offering an opportunity to UK businesses looking into these initiatives. It’s also on the lookout for solutions to transportation challenges, such as using smart ticketing and GPS-based applications to get real-time information for buses and trains.