Chile and Italy unite for small business in new bilateral accord

The agreement opens avenues for small and medium enterprises in the two nations to share information and experience across borders.

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Alongside a cooperative agreement between major universities in Italy and Chile, the two countries have also signed an agreement for the mutual benefit of their small and mid-sized businesses.

The celebration of the signing in Rome was attended by the Chilean Minister of the Economy Juan Andrés Fontaine, the Italian Minister of Economic Development Stefano Saglia, and the presidents of Italy’s Associated Cooperatives.

The agreement, titled the “Memorandum of Understanding for the Collaboration of Small and Medium Businesses and Cooperatives Chile-Italy,” establishes an agreement to exchange experience and information, investment opportunities, and corporate strategy. The agreement will also facilitate commerce between the two nations through trade incentives.

“Our goal is to reach development in 2018,” said Minister Fontaine in Chilean newspaper La Tercera. “This step we are taking with Italy is extremely important. The signing of this agreement demonstrates the importance of the work done by small, medium and micro-businesses in economic development, commerce and bilateral investment.”

The agreement will also help to spur the development of joint ventures and lines of distribution between small and medium businesses in Chile and Italy.

During the same official trip to Rome, President Piñera signed an agreement to establish a new network of top educational institutions in Chile and Italy, forging a relationship that will help in the development of cooperative research and exchange programs in emerging techologies and sciences. Like the new business agreement, the ‘educational megaproject,’ as it has been described, aims at opening new avenues of cooperation between the two countries, facilitating a productive exchange of experience, information and talent in the coming years.