Economic Mission to Chile, Uruguay and Argentina

The Chamber of Commerce of the Grand Duchy of Luxembourg will organise an economic mission to Chile, Uruguay and Argentina in order to tighten the bilateral relations between our countries. This multi-sectorial mission will take place from December 2^nd to 8^th, 2018.

Chile will be its first destination, before heading to Uruguay and finally Argentina. The sectoral activities will be organised in collaboration with ALFI, Luxembourg for Finance and Film Fund Luxembourg. The program on the spot will be organised in close cooperation with the Cámara de Comercio Chileno Belgo Luxemburguesa and Mr. Juan Manuel Fuentes, Honorary Consul in Chile while in Uruguay and Argentina, we will closely work together with the Belgian Economic & Trade Commissioners located respectively in Montevideo and in Buenos Aires.

The economic mission will focus on the financial sector, the audiovisual sector and on the startup ecosystem. However, all members of the Luxembourg Chamber of Commerce  are welcome to participate if interested.

According to Euler Hermes, after two years of recession (-0.2% in 2015 and -1.2% in 2016), Latin America’s economic recovery has started in 2017 (+1.2%) and a growth acceleration is expected in 2018 (+2.3%) and 2019 (+2.8%). Argentina, Chile and Uruguay are part of the Southern Cone. High life expectancy, the highest Human Development Index of Latin America, high standard of living, significant participation in the global markets and the emerging economy of its members make the Southern Cone the most prosperous macro-region in Latin America. While Chile has the most developed economy in Latin America (with a GDP of 259 billion USD in 2017), Argentina has the 4^th biggest population (43 million in 2017), and Uruguay has the highest income per inhabitant in the Latin America region.

Chile is a safe place to do business as confirmed by risk ratings agencies which have increased or maintained their high ratings for the country, highlighting its low level of public debt, the health of its financial system and its solid institutions. Its competitive edge and solid economic foundation makes Chile OECD’s first and only South American economy. It is a nation that breathes a dynamic business culture and displays the highest GDP per capita in the region.  Chile is one of the world’s most attractive countries for investment in non-conventional renewable energy projects (NCRE), after USA, China and India. More than 60 multinational companies have chosen Chile as a platform from where to export services to their clients worldwide.

Uruguay is a reliable country to do business in one of the most economically attractive regions in the world. It offers a favorable business climate with social and political stability. The country has a BBB investment grade ratings from the main credit rating agencies (Standard & Poor´s, Fitch Ratings,…). Investors distinguish Uruguay´s world class telecom infrastructure and excellent quality of life. Uruguay´s attractive tax system for services exports, including free trade zones, investment law, free port and airport; qualified and multilingual talent (Spanish, English, and Portuguese); competitive costs, as well as its regional trade agreements, make it one of the best Latin America’s business gateways.

Argentina is the eighth largest country in the world and the third largest economy in Latin America, with a GDP of 619.9 billion USD in 2017 and 43 million inhabitants. Due to the high qualification of its workforce, it also has the 3^rd highest GDP per capita in Latin America. The country is a founding member of Mercosur, South America's most important trade bloc, and a G-20 member. It has signed 58 bilateral investment treaties (BIT), including one with the Belgium–Luxembourg Economic Union. Even though there are still some macroeconomic imbalances to be tackled, the new administration's leadership to manage an inherited complex situation and the introduction of important structural reforms to liberalise trade and attract investment flows are positively viewed by the international business community and other stakeholders.

The participating companies will have the opportunity to take part in pre-arranged individual business meetings in each country, as well as to network with local companies during the various events organised by the Luxembourg Chamber of Commerce with its local partners in Chile, Uruguay and Argentina. Companies may also participate in networking receptions and various opportunities to meet key players will be provided.

If you are interested in registering for the accompanied visit, you are kindly requested to duly complete the online registration form no later than September 19^th, 2018. For further information about this upcoming mission, feel free to contact Violaine Mathurin/Déborah Varoqui (latinamerica@cc.lu – T: +352 42 39 39-481/531).