Regional Economic Developers Learn About Exporting to Chile
Opportunity Squared, the regional economic development group in southeast Iowa met Friday, November 4, for a roundtable discussion with representatives from the US Commercial Services offices representing Iowa and Santiago, Chile.
Opportunity Squared, the regional economic development group in southeast Iowa met Friday, November 4, for a roundtable discussion with representatives from the US Commercial Services offices representing Iowa and Santiago, Chile.
Patricia Cook, Director of Commercial Services for Iowa, and Mary Lathrop, Commercial Specialist at the US Embassy in Chile met with Opportunity Squared participants in Fairfield to educate members about the opportunities available and the requirements of exporting products and services to the South American country.
Based on information shared by Ms. Cook, there are between 2,000 and 5,000 exporters in Iowa, with a broad range of products and with varying shipment demands. In southeast Iowa, there are exporters of food & chemicals, ag and farm machinery, construction equipment, building products, materials handling, and plastics.
According to Ms. Lathrop “The Chilean culture is much like that of the US and is an excellent country in which to do business. They have a stable financial position, and a low corruption business environment.”
Since establishing free trade agreements in 2003, US exports to Chile have increased 545%, and include mostly farm and agricultural equipment, healthcare, medical devices, and automotive parts. On the other hand, Chile’s greatest exports to the US are in the mining industry- copper constitutes 40% of their economy- and agri-business sectors which provide fresh fruit, olive oil, and seafood. Chile has 22 free trade agreements with 61 countries around the globe.
“Oskaloosa has several exporters in its industrial mix right now, but you never know what the future will hold. Our prospects may have a need for export services, and we want to be ready for them. This was an excellent opportunity to meet with experts in this field” says Deann De Groot, Director of Mahaska County Ag & Rural Development.
