Open for business

Chile named one of best countries in world for business by Forbes

The Andean nation’s continued economic growth and strong reputation make it a stand out for business in South America.

Tuesday, October 01, 2013 Category: Business
Chile’s financial district, known informally as Sanhattan, continues to grow alongside the country’s Chile’s financial district, known informally as Sanhattan, continues to grow alongside the country’s business reputation. Photo by RiveraNotario / Flickr

 

Chile’s reputation as a destination for regional and global business gained another major boost as Forbes Magazine included the Andean nation in its new list of the world’s best countries to do business.

The U.S.-based business magazine placed Chile first in Latin America and 17th in the world, just trailing Switzerland and Taiwan and beating out big names in finance like Luxemburg and France.  Forbes noted Chile’s positive growth at home and abroad for its high ranking.

“Chile has a market-oriented economy characterized by a high level of foreign trade and a reputation for strong financial institutions and sound policy that have given it the strongest sovereign bond rating in South America,” the review says.

It also points out that the country, nestled at the very southern tip of South America has the most international trade agreements of any country in the world.

“It has 59 such agreements … including with the European Union, Mercosur, China, India, South Korea and Mexico,” reads the Forbes article.

Chile has also been establishing a variety of trade and cultural agreements with various countries even building relationships with several states in the U.S. as shown by recent business agreements with Pennsylvania. The Andean nation has also been creating strong ties with New Zealand, with a student exchange program continues to connect the youth and leaders of both countries.

These relationships have already led to more students coming to study in Chile to learn more about the country’s growing business environment and more and more entrepreneurs arriving to take advantage of the many opportunities here.

With consistent and positive growth as well as an ever-stronger reputation in the region and abroad, it is no wonder that Chile has been taking on more and more leadership roles at a global level and gaining respect in the international community.

Just last year, the Andean nation hosted the CELAC-EU conference, bringing world leaders from Latin America, the Caribbean, and the European Union to the Chilean capital.

President Sebastían Piñera — who was head of the CELAC-EU body at the time — was responsible for guiding the conference, helping to cement Chile’s role on the global stage.

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