Category: Geopolitics

Information about international affairs that can impact the Chilean economy.

150 BYD electric buses go into service in Santiago

A further 150 BYD electric buses went into service in Santiago, Chile, bringing the total number of BYD electric buses in Chile to 455. In autumn last year, in cooperation with Enel X and Metbus BYD, the first electric bus corridor was set up in Latin America in the Chilean capital. With 455 electric buses now in service in Chile, the Chinese company claims to lead the market for electric buses in the country with a share of 65%.

Chilean cherries exports reach a historical record of 230,000 tons

Despite the negative effects of the pandemic, Chilean cherries achieved historical figures during the 2019-2020 season, where China was a key consumer. According to the president of the Federation of Fruit Producers of Chile (Fedefruta), Jorge Valenzuela, last season they exported about 230,000 tons of cherries, a “historical record.” He pointed out that the figure left revenues of $1,400 million for Chile.

Chile and the U.S launch electronic phytosanitary certification system

The Chilean Minister of Agriculture, Antonio Walker, announced the start of the paperless phytosanitary certification between Chile and the U.S. This means that the products of plant origin being marketed between both countries will only require an electronic certificate to enter the destination country. This will streamline the export process and decrease its costs. It also represents a significant advance because, as Walker pointed out, “the U.S is a strategic partner for Chile, as more than a third of our fresh fruit is exported there.”

Latin American will contract 9.4% and leaders ask IMF, IDB, World Bank for support

The International Monetary Fund has projected a 9.4% contraction of the GDP, worse than the 4.2% estimated in April. In a teleconference, the presidents of nine Latin American countries -including Chile- discussed with the senior executives of the IMF, the World Bank and the Inter-American Development Bank ways to handle the impact of the Covid-19 pandemic. The Latin American leaders asked for more solutions, including a “possible restructuring” of debt.

TerraForm Power Inc.’s shares increase by 1.58%

TerraForm Power Inc.’s shares jumped 1.58% to close at $18.67. About 327,552 shares traded hands on 3,305 trades for the day, compared with an average daily volume of n/a shares out of a total float of 226.52 million. With today’s gains, TerraForm Power Inc. now has a market cap of $4.23 billion. The portfolio of facilities controlled by the company includes wind and solar power producing facilities located in the U.S., Canada, the UK, and Chile.

Singapore signs digital economy partnership agreement with Chile

Singapore signed its first digital economy partnership agreement (DEPA), which will see the Republic cooperating with Chile and New Zealand on key emerging issues in the digital economy. The agreement also aims to promote interoperability between the systems of different countries. Under the newly signed DEPA, Singapore businesses can expect improved efficiency, reduced cost, and increased trust when conducting business and trading digitally with overseas partners in Chile and New Zealand.