Minister of Foreign Relations Heraldo Muñoz inaugurated the conference titled "Chile´s Economy within a Global Context" organized by The Council of the Americas working in collaboration with the Ministry of Foreign Relations and the Ministry of Finance.
On the occasion, Minister Muñoz gave notice of the principles that lead Chile´s foreign policy, putting the emphasis on economic openness to the rest of the world. At the same time, The Minister also addressed the role that the Chilean economy has played in reducing the Commodity Prices Rise.
Minister Muñoz also said that the economic deceleration "is a clear indication that Chile needs to avoid commodity export dependence as well as its price volatility". He also said that Chile needs to "add value to its products, diversify our exporting offers, including services and goods based on creativity and innovation. We also must be able to be more strongly associated with the global value chain and regional value, and to better participate in the knowledge society".
According to Minister Muñoz, our country has taken actions in order to face the economic challenges by strengthening regional integration initiatives in Latin America and the Asia-Pacific region, improving foreign investment rules and establishing a productivity agenda.
At the same time, the Foreign Minister said that Chile, as a country, is facing a double challenge. Firstly, we must be able to generate good ideas and new technologies. Secondly, we must ensure the development of inclusive societies. "We must reduce inequality and create opportunities for all of our citizens", he said.
During his presentation, Minister Muñoz highlighted that one of the main principles of Chile's foreign policy is to integrate Chile into the world's main development poles by reinforcing and multiplying the trade agreements that have been reached within the diverse mechanisms of economic integration.
In this regard, he highlighted the role of the Pacific Alliance as well as Chile's convergence toward the member states of Mercosur. "The first priority of Chile's foreign policy is our relationship with South America" he said. He also pointed out that this priority has also been reflected by Chile's desire to be the bridge to towards the Asia-Pacific region.
Minister Muñoz also highlighted that Chile has made significant progress in terms of the inter-oceanic corridors. The Foreign Minister made reference to the declaration that he made last December along with his counterparts IN Argentina, Brazil and Paraguay which seek to promote this project.
Regarding the Asia-Pacific region, Minister Muñoz highlighted the importance of these markets and also the markets with the United States, putting the emphasis on the signing of Trans-Pacific Partnership (TPP) agreement.
The event was held in the presence of the Minister of Finance Rodrigo Valdés, the President of the Americas society/Council of the Americas Susan Segall along with high level officials, business leaders and representatives from the private sector.