What will Chile get out of APEC Peru 2008?

According to the opinion of three experts in the field, Chile is expected to increase its economic potential in the region, become an active voice in the containment of the international financial crisis and attract the world’s geopolitical gaze to the Pacific basin as a result of APEC 2008 in Peru.

The Asia-Pacific Portal interviewed three international affairs analysts in order to ascertain their views on outcomes of the upcoming APEC summit, scheduled for October 16-24, 2008. Their reactions to our questions and comments follow.

According to Luis Riveros, director of Universidad de Chile’s Asia Latin America Center, the APEC meeting will help maintain Chile’s positioning in the region. “The nation will further consolidate its regional leadership role. It may also assist in establishing a proactive agenda that promotes strategic initiatives to address the global financial crisis.”

Veronica Barrios, coordinator of the International Relations and Defense Department here at the BCN, replied in the same vein. She agrees with Riveros that the upcoming APEC summit will give Chile a more prominent role vis-à-vis the international financial crisis. “Since APEC supports initiatives to reinvigorate the Doha Round, it will be essential to protect the economies of developing countries from the impacts of global financial crises. Therefore, the ability to be direct actors in these negotiations is a unique opportunity for Chile to play an active role, if not the historical context of our current international crisis.”

Eduardo Vera, Director of the AccessNova Research at Universidad de Chile raised another important issue. He feels that the relative closeness of Peru, which is hosting APEC’s 2008 meetings, can only play to Chile’s advantage. Thus, the entire world will be taking good, hard look at the region as a whole. This may strengthen the position of Chile, which has exercised regional leadership for years. “The fact that APEC 2008 is being hosted in Peru is directly beneficial to Chile insofar as it will bring the world’s spotlight on to the western basin of the Pacific and, more specifically, Latin America. In this context, the relevance of the Chile-Peru integrated economy will accrue greater relevance, especially in the regional sense. This is particularly true for both nations’ most vital activities such as mining, aquaculture and agribusiness.”