FIRST LATIN AMERICAN COUNTRY TO RECOGNIZE OUR COUNTRY; CHILE

Chile, which has important natural beauties in terms of tourism, has a great hydroelectric energy potential thanks to the Andes Mountains.

Chile, whose name means ‘end of the world’ in the Aymara language, is a strategically located country between the Atlantic and Pacific Oceans. The country, which has important natural beauties especially in terms of tourism, has a great hydroelectric energy potential thanks to the Andes Mountains. The country has rich fishing resources along its coasts. The arid lands in the north are adorned with mineral deposits.

Chile, the first Latin American country to recognize our country after the proclamation of our Republic, is the only country in the Latin America and Caribbean (LAC) region with which we have signed a Free Trade Agreement (FTA). Despite factors such as geographical distance and the lack of direct flights in the country, which has the best functioning customs regime in the region, which restrict the mutual visits of business people, there has been an upward trend in trade relations and contacts between the two countries and there have been positive developments in the interest of mutual companies in the market.

While the foreign trade volume between the two countries was 750 million dollars in 2022, it decreased by 30 percent to 521 million dollars in 2023. However, while our exports to Chile amounted to USD 469.1 million in 2022, our imports amounted to USD 209.9 million.

Chile’s export products are copper, lithium, iodine, Pacific salmon, forestry products, fresh grapes and cherries, while its import products are mineral fuels, motor vehicles, machinery parts, electronic devices, iron-steel and pharmaceuticals.