During a visit to Japan, Economy Minister Luis Felipe Céspedes gave a keynote speech at the Jetro business forum in Tokyo. He also held different meetings with Japanese businesspeople and scientists at which he was accompanied by the director of InvestChile, Carlos Álvarez, and leaders of SOFOFA.

In order to build closer ties with sectors that are strategic for the Chilean economy and in recognition of almost 120 years of trade relations with Japan, the Minister of Economy, Economic Development and Tourism, Luis Felipe Céspedes, visited Japan along with the director of InvestChile, Carlos Álvarez, and a delegation led by the president of Chile’s Manufacturers’ Association (SOFOFA), Hermann von Mühlenbrock.

Minister Céspedes spoke at the Jetro business forum, organized by the Mitsubishi Bank, at which he gave a keynote talk about the benefits and advantages of the Chilean economy and the opportunities for joint growth between Chile and Japan. At the meeting, Céspedes emphasized the important market diversification experience of Japanese companies.

He pointed out that Chile is a serious economy, with macroeconomic stability and a responsible fiscal policy, a solid institutional framework that is constantly being perfected and a new economic development strategy that emphasizes diversification as the central pillar of sustainable and inclusive development. “We want the economic development strategy we are implementing to generate the consensus necessary for it to become a transversal strategy of economic diversification,” he explained.

“Japanese companies are an example of diversification; look at the experience of Mitsubishi, Mitsui, Marubeni, Sumitomo which are present across different sectors of the economy and are leaders in research and development,” said Minister Céspedes. “Our companies should look at their experience carefully; it’s what we need in our country,” he noted.
In addition to the need for diversification, Minister Céspedes also highlighted the importance of attracting foreign investment to Chile and invited Japanese investors to look at the Chilean market as an opportunity for joint economic growth.

“Increasing the inflow of foreign investment is crucial for the development of our economy. One of the ways countries are able to acquire knowledge, experience and technology is precisely through foreign investment,” he said, adding that, although Chile’s advantages lie in natural resource sectors, “we are not condemned to be an exporter of raw materials and can use those natural resources as a platform for economic diversification, advancing decidedly in the construction of an economy that is more sophisticated and more diverse in the goods and services we produce”.

Source: Economy Ministry/InvestChile