Politics, Business & Culture in the Americas

Piñera Urges U.S. to Deepen Economic Ties with Chile

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Chilean President Sebastián Piñera cautioned Wednesday that if the United States did not move to strengthen its economic ties to Chile and other Latin American countries soon, others would fill the void shortly.

In a speech delivered at Americas Society and Council of the Americas, President Piñera urged the United States to pass long-pending free-trade agreements with Colombia and Panama. He also stated that China, with which a free-trade agreement has been in effect since 2006, is a principal business partner of Chile’s. In addition to copper, China has become a consumer of Chile’s wines and is poised to become the country’s biggest foreign investor.

Piñera used the speech to highlight Chile’s recent economic achievements. With an economy expected to grow 6 percent in 2010, Chile is currently in the midst of “a true economic renaissance,” he said. The country has the second-biggest economy in Latin America and weathered the economic recession well. From March to June 2010, Piñera’s government created 165,000 jobs, bringing the level of unemployment down from 9 percent to 8.3 percent. A net creditor, it is unlikely to borrow very much this year.

In spite of these successes, Piñera outlined a series of measures to address the economic challenges Chile faces. He hopes to create 200,000 new jobs per year and double public investment in education. He also emphasized the goal of eliminating extreme poverty by 2010.

Tags: Chile, Economic Development, Sebastian Piñera
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