Look North: Miami

The year 2017 began with a new administration in the White House, in conjunction with the drafting of new US policy to define the country’s relations with the rest of the world. During his first few months in office, President Donald Trump has been compiling his administration and formulating his main areas of focus.

It is still too early to draw conclusions about this new presidency, although it is clear that trade relations between Chile and the United States remain strong and stable. This was confirmed at the Miami Global Platform International Conference for Investment and Business, an event organized by the Chilean American Chamber of Commerce (AmCham Chile) and the Chile-US Chamber of Commerce, which is the Chilean chamber of commerce in Florida. The event was also put together with the support of Bci bank. The conference covered distinct business opportunities within the city of Miami, particularly in the sectors of trade, tourism, financial services, real estate and infrastructure.

Miami is a highly attractive destination for Latin American investors, not only due to its size (the state of Florida has a population of over 20 million), but also because it represents a port of entry for the sale of goods and services to other parts of the United States. According to the University of Miami, between 1,250 and 1,400 multinational companies have offices in the city. Furthermore, approximately 40% of US exports to Latin America pass through the ports of Florida. Statistics such as these have resulted in the international magazine AméricaEconomía classifying Miami as the best city in the region in which to do business.

This international conference, which was held within the framework of a multisector trade mission from Florida which visited Chile, demonstrates the interest of the Chilean business community to explore the US market, as well as American envoys to seek out new national investors. This was highlighted by the distinct foreign authorities participating in the conference, in particular the Mayor of Miami, Tomás Regalado, who stressed that the city and the state of Florida have business friendly incentives and tax cuts that are deemed highly attractive. He also emphasized that Chile possesses distinct opportunities for the development of agricultural and winegrowing enterprises.

Since the Free Trade Agreement between Chile and the United States came into force in 2004, bilateral trade has grown by the rate of ten, generating a robust and deep link between the two nations. Considering this growth in trade, as well as the opportunities afforded by an increasingly globalized word, AmCham Chile has been developing its Look North program, which aims to support the internationalization of Chilean companies in the United States.

A large number of Chilean companies have good ideas and tremendous potential but lack the necessary tools to scale their projects. That is why AmCham Chile will support them in this process, providing them with information, consultancy and training, in addition to access to new ecosystems and contact networks. One of the activities of this program for 2017 will be Look North Miami, a mission that will focus on exploring the US market in terms of start-ups, venture capital and angel investors. Via this approach, the Chamber will continue to strengthen Chilean presence in a market which has a potential of more than 300 million inhabitants, thereby encouraging the international competitiveness of the country at the same time.

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