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Keys to fostering sustainable Chilean exports for 2021

InvestChile - April,13,2021

ProChile has a budget of around US$270,000 for projects in areas such as assessment, training and international positioning.

 EXPORT TRADE CHILE PROCHILE SUSTAINABLE

International markets have become increasingly demanding in terms of sustainability. This issue, according to ProChile Director General Jorge O’Ryan, has shifted the institution’s agenda, especially over the last two years. 2021 will be no exception and ProChile plans to implement a series of actions to foster sustainable exports.

“In more mature economies, the United States, Canada, Europe and a significant part of Asia, which account for about 80% of our exports, price and quality are no longer the only qualities sought,” states O’Ryan. Our exports must also be sustainable.

ProChile, a government institution that is part of the Foreign Affairs Ministry, has been allocated a budget of $190 million Chilean pesos (some US$267,000) to carry out projects in areas such as assessment, training and international positioning.

Sustainability policies

One of the first steps will be to create a sustainability advisory council in ProChile for consulting purposes, “which will validate our sustainability policies. It will be a joint council made up of representatives from the public, private and academic sectors. We will keep them updated on our progress towards the internationalization of sustainability,” noted O’Ryan.

Among the confirmed members are: Margarita Ducci, Executive Director of Global Compact Chile; Gonzalo Muñoz, High-Level Champion for the UN Climate Change Conference COP25; Jeannette Von Wolfersdorff, former Executive Director and current Treasurer of Observatorio Fiscal; and Antonia Biggs, coordinator of the National Program on Sustainable Consumption and Production at Fundación Chile.

Other actions include implementing a sustainability test for exporters, the first version of which was administered in 2020. This initiative will allow ProChile to assess a firm’s progress and provide them with feedback and suggestions.

“60% of those who participated in the initial test did make changes in order to boost their competitiveness. There are opportunities for improvement,” explained O’Ryan, who added that it will also help to reinforce their strengths.

Positioning and green hydrogen in Chile

ProChile is also working to move forward in the area of international positioning through participation in key events like Expo Dubai and the Climate Change Conference COP26, as well as by promoting the internationalization of Chilean companies. Regarding the latter, O’Ryan indicated that a pilot program is underway to speed up the internationalization process for five Chilean firms that provide solutions, for example, to climate change.

The Director General noted that they are also working with the Energy and Foreign Affairs ministries on the National Green Hydrogen Strategy.

“We will focus our efforts on attracting investments to develop the industry, and on our trade offices in high-priority markets for developing green hydrogen: the Netherlands, Germany, South Korea and Japan, working hand in hand with InvestChile,” he confirmed.

To find out more about international trade and investment in Chile, read the following article.

Source: Diario Financiero

Chapter 1 Foreign Investor's Guide

Topics: international trade- InvestChile- Trade- ProChile

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