Chile Report- International Product Exercise

Chile Report- International Product Exercise - Trade...

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Group B International Product Exercise Cierra Page, Rachel Riddle, Jeff Belback, Caron McCowin, Errol Jackson When our group picked Chile and Whole Foods for this international product exercise, I don’t think any of us knew what we were getting ourselves into. Luckily Chile is a growing country and many developments between the United States and Chile have occurred within the last ten years. Chile’s exports have grown and Chile has become a remarkable exporting country despite its size. However, the United States has also benefited from trade agreements made with Chile. In talking about the trade relationship between the United States and Chile it is necessary to focus on Chile’s exports, imports, foreign direct investments made in both countries, and the tariff structure and trade agreements between both countries. Chile’s economy has become a model for its neighboring countries because of its success in exports (Economy and Trade: Open for Business 1). Seventy-six percent of Chilean trade conducted with over twenty-five countries accounts for eighty-seven percent of the world’s gross domestic product (Economy and Trade: Open for Business 1). This is a huge success for a country that diversified its exports a little over thirty years ago (USDA Economic Research Service Report 1). Chile has trade agreements with many countries including: Bolivia, Brunei Darussalam, Canada, Central America, China, Colombia, Cuba, Ecuador, the European Union, Iceland, India, Liechtenstein, Mercosur, Mexico, New Zealand, Norway, Peru, Singapore, South Korea, Switzerland, the United States, and Venezuela (Economy and Trade: Open for Business 1). A relatively new development in Chile’s trade agreements is the Free Trade Agreement with Japan signed in March two thousand seven (Economy and Trade: Open for Business 1). Because of these agreements and its location, Chile serves over 3.8 billion consumers all around the world (Economy and Trade: Open for Business 1). Diversity is a key ingredient to Chile’s export success. The Chilean export economy is so well respected that the Economist Intelligence Unit ranked Chile number one Latin American country to do business in for two thousand five through two thousand nine (Economy and Trade: Open for Business 1). In two thousand six, over five-thousand nine-hundred sixty-nine companies exported five-thousand two-hundred and four different product lines to one-hundred and eighty-one different markets all over the world (Economy and Trade: Open for Business 1). “Chilean exports to the United States in two-thousand and four included ninety four million in copper cathodes, twenty-four million in unrefined copper, thirty five thousand forty eight million for oil for fuel testing under twenty five degrees, twenty four million in fruits such as cranberries, blueberries, cherries and other fruits, and ten million in other molybdenum ores and concentrates, not roasted (The U.S.-Chile Free Trade Agreement: An Early Record of Success 2)”.
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This note was uploaded on 04/04/2008 for the course IB 210 taught by Professor Kunalbanerji during the Fall '07 term at Eastern Michigan University.

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Chile Report- International Product Exercise - Trade...

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