Pakistan and Chile: New business opportunities

Chilean shipping to Asia continues to consolidate and grow. Not surprising, given the fact that China is the premier destination for Chilean exports, as well as being a major supplier of imports to Chile. However, though China remained the main destination of our exports during the first half of 2008, said shipments only increased by 2%.

In this context, Chile should extend, and better position its businesses into different sectors, throughout the entire Asian region. New market opportunities in emerging destinations such as Pakistan, represent one of the manifold attractions in Southeast Asia. Pakistan is bursting with economic potential, and it also happens to be developing a series of trade agreements with Chile.

Pakistan, with more than 165 million inhabitants, is one of the most populous nations in the world. Its territory is as extensive as its import/export opportunities. And though the trade figures between Pakistan and Chile have not yet reached any large figures in recent years, trade between the two nations has increased considerably thanks to the diversification of products marketed. 

In light of all this, Muhammad Ijaz Abbasi, President of the Islamabad Chamber of Commerce and Industry, recently met with Chile’s ambassador in Pakistan. Ijaz Abbasi stated that “in order to establish close and mutually beneficial trade relations, Pakistan and Chile should regularly exchange business delegations to explore potential areas for promoting trade between the two countries.”
 
During 2006-2007, Pakistani exports to Chile reached approximately $65.9 million, whereas Chilean imports remained steady at $ 2.7 million during the same period. Fresh fruit, sunflower seeds and corn lead the list of Chilean products sent to Pakistan. Pakistan imported a variety of garments, textiles, rice, wheat and carpets.
 
Chilean exporters and importers currently doing business with China may be one sector which benefits from continued growth in this new business market. They can use the China-Chile business model increase their shipments into and out of this new, and potentially enormous, South Asian business opportunity, Pakistan.