PH urged to raise trade and investments in Chile

FILIPINO-owned companies have been urged to supply Chile with fruits and vegetables, handicrafts, chemical products and devices for fishing and mining.

Ambassador Roberto Mayorga said the 17 million population of Chile provides a market for these products. Chile's imports stand at $74.2 billion comprising various products, noting that Chile's food industry particularly present huge investment opportunities for Philippine companies.

Of these, he specified potentials in the produce industry, wine industry and grape sub-products, olive industry, meat and dairy sub-products, salmon industry, food anticillary industries, elaborated foods and biotechnology applied to the food industry.

Mayorga said Chile's other sectors like mining, infrastructure and energy are also open to foreign capital.

"The food industry has been very strong. Any kind of food products is open to all investors around the world…Chile is really strong in mining. Mining companies plan to invest $104 billion during the next eight years," he said during a business forum organized by the Philippine Chamber of Commerce and Industry (PCCI).

Mayorga identified the Energy Development Corporation to the first Filipino investor in Chile. On the other hand, Dr. Alfonso Siy, Philippines-Chile Business Council chair, is selling fishing nets to Chile.

He encouraged more companies to participate in the Philippines-Chile Business Council which was created to promote trade and investments between the two countries.