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The Indonesian-Chilean Chamber of Commerce and Culture brings to you a summary of this week's news concerning trade, exports, and international relations.

Chilean exports experienced a downturn in November, with sales reaching only US$7.731 billion FOB, marking a 4% decrease compared to the same period last year. This marks the eighth consecutive month of negative performance. However, the trade balance indicated a positive balance of US$1.288 billion during the same period.

As part of the commemoration of ProChile's 50th anniversary, the General Directorate of Export Promotion will bring 25 of its representatives to Chile to hold business meetings with exporters in three cities. Participants will have the opportunity to meet with Chilean commercial attachés in 21 international markets, present their exportable offer, obtain information on trends and commercial opportunities, and analyze possible support requirements and collaboration strategies.

The drought affecting the Panama Canal has been causing delays for ships carrying exports, including Chilean and Peruvian fresh fruit and US grains. The low water level limits the number of transits through the waterway, leading to increased costs and delays. The situation has led some US agricultural producers to ship their grain by train to the Pacific Northwest and send it to Asia from there.

ProChile has launched its work plan for the coming year, emphasizing global presence and the incorporation of productive regions and SMEs. In 2023, Chilean exports represented a third of the Gross Domestic Product (GDP), a significant increase from 1990, when it was around 10%.

The cherry season has begun in the Port of San Antonio, with 15 ships setting off for countries like Brazil, the United States, and China, the latter being the main consumer due to the Asian New Year which considers this fruit as a symbol of good luck.

On a different note, Ford has acquired a stake in an Indonesian nickel project, further strengthening the ties between our two nations.

• Exportaciones en Chile vuelven a caer en noviembre | Diario Financiero (Df.cl)
• ENEXPRO Agregados Comerciales: 25 representantes de ProChile viajan al país para reunirse con exportadores (Prochile.gob.cl)
• Sequía del Canal de Panamá afecta exportaciones de granos estadounidenses y a la fruta fresca de Chile y Perú - MundoMaritimo (Mundomaritimo.cl)
• Productividad, sostenibilidad y diversidad; la hoja de ruta de la promoción chilena en el exterior · Noticias de Economía y negocios (Trade-news.cl)
• Cerezas son las protagonistas de las exportaciones chilenas esta temporada | 24horas (24horas.cl)
• Ford adquiere participación en proyecto de níquel en Indonesia (Redimin.cl)

The Indo-Chilean Chamber of Commerce and Culture is pleased to report a promising growth in Chile's non-traditional exports, which include creative fields such as audiovisual services, animation, publishing, video games, design, and music. According to recent figures from ProChile, Chile exported US$ 67.1 million worth of these services and products in 2022, marking a 23.7% increase from 2021.

Moreover, the first seminar focusing on the export potential of the Coquimbo region was successfully held by INACAP La Serena. This event is a testament to the increasing recognition of the region's potential for economic growth and the expansion of trade.

However, the growth of Chile's trade and economy is not without challenges. The creation of the mega-port of Chancay in Peru has raised concerns about the competitiveness of Chile's port infrastructure. The Indo-Chilean Chamber of Commerce and Culture believes that this should serve as a catalyst for Chile to invest in modernizing its port infrastructures, aligning them not only with import and export demands but also with the country's status in international trade.

On a different note, ProChile has been actively promoting Chilean products abroad. In collaboration with Big Basket, India's most prominent e-commerce company for food, ProChile launched a promotion campaign for fresh and dehydrated Chilean fruit. The campaign ran from October 29 to November 12, coinciding with Diwali, one of India's most significant festivals.

Lastly, the Cherry Committee of Fruits of Chile, representing over 85% of Chilean cherry exports, has released its second estimate for the 2023-2024 season. The forecast accounts for adverse climatic effects faced by the sector and estimates a total shipment of 81,477,564 boxes (5 kilos each). This volume is 14.6% lower than the Committee's first estimate given in October and slightly lower (-1.89%) than the exports of the previous season (2022-2023).

Source:

• Videojuegos, animaciones y música: las exportaciones creativas de Chile siguen aumentando | Diario Financiero (Df.cl)
• INACAP La Serena realiza con éxito el primer Seminario enfocado en el Potencial de Exportación de la región de Coquimbo - La Voz del Norte (Lavozdelnorte.cl)
• Competitividad regional, aumento del comercio y crecimiento económico: ¿Por qué Chile debe invertir en su infraestructura portuaria? - Portal Innova (Portalinnova.cl)
• ProChile realizó campaña de promoción fruta fresca y deshidratada chilena en Big Basket de India - Entreprenerd (Entreprenerd.cl)
• Comité de Cerezas de Frutas de Chile entrega segunda estimación de la temporada 2023-2024 – Simfruit (Simfruit.cl)