Ceylon Chamber of Commerce sets sight on Chilean market

In response to numerous requests by its members, the Trade Fair Unit of the Ceylon Chamber of Commerce has taken the initiative to organize a business promotion mission to Santiago, Chile from March 16 - 22 in association with the Embassy of the Republic of Chile in New Delhi, the Consul for Sri Lanka in Santigo and the Consulate of the Republic of Chile in Sri Lanka.

The main objectives of the mission are to strengthen trade ties, establish business links, source suitable business partners in the areas of trade, investment, joint ventures, technology transfer and services. The mission is organised to coincide with two Trade Fairs scheduled in Santiago from March 18 - 22.

The Fiesta De La Vendimia De Santiago De Chile, a leading Trade Fair for the Agriculture Industry will be held from March 18 - 22 at the Centro Cultural Estacion Mapocho, Santiago, Region Metropoliana.

Meanwhile, the India Show will take place from March 18 - 21 at the same venue organised by the India Trade Promotion Organisation and will focus on sectors such as IT and Software, Automotives, Automobile Accessories, Engineering Goods, Chemicals, Pharmaceuticals, Plastics, Fuel and Energy, Oil Exploration, Telecommunication, Textiles and Leather. This will also include Buyer/Seller meetings.

The highlight of the mission would be meetings with the business communities and Chambers of Commerce in Santiago, Chile which will offer opportunities for our mission members to have direct dialogue with their business associates.

It is reported that the economy of Latin America is the second fastest growing in economy in the world which accounts for nearly 5% of the world trade. Export diversification is one of the key reasons for Chilean success. Noting the volume and sophistication of its trade in goods and services, the Economist Intelligence Unit ranked Chile as the No.1 Latin American Country, to do business with. Chilean economy emphasizes trade and investment and is recognized around the world for openness and stability.

Though the balance of trade between Sri Lanka and Chile have been in favour of Chile exports to Chile has been increasing gradually from 2003. Exports to Chile which were Rs. 915 Million in 2003 increased to Rs. 2,286 million in 2007 recording an increase of 149%, over four years.

The percentage increase between 2006 and 2007 was 24%. Imports too recorded an increasing trend of 109% over period 2003 - 2007.

According to Sri Lanka Customs statistics our main exports to Chile in 2007 were Black/Herbal Tea, Rubber and Rubber products (tyres, tubes and gloves), Apparel and Clothing, Edible Fruits and Nuts, Ceramic products, Activated Carbon and Printed material. The main imports from Chile in 2007 were canned fish, wine and apples.

According to the Chamber spokesman, the mission will not only offer opportunities to enhance trade ties but would also assist those interested in penetrating into this market.