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Japanese businesspeople seek opportunities in Chile

11 April, 2016

The meeting, organized by Chile’s Mining Ministry, took place in the framework of a Memorandum of Understanding signed in 2014 and sought to strengthen Chilean-Japanese cooperation on mining. 

As part of its international activities, Chile’s Mining Ministry held its First Public-Private Meeting with Japan’s Ministry of Economy, Trade and Industry (METI) and the Japan Oil, Gas and Metals National Corporation (JOGMEC). The meeting, which took place in the framework of the Memorandum of Understanding on mining signed by the two countries in 2014, was also attended by a delegation of Japanese companies and was led by Chile’s Undersecretary for Mining, Ignacio Moreno, and METI’s Vice-Minister for International Affairs, Takayuki Ueda.

“Chile and Japan have longstanding relations and meetings of this type are very necessary in order to continue to strengthen these relations,” said Undersecretary Moreno. “There are a number of areas where we can work together, especially on matters related to innovation in mining, the country’s geological mapping and development of the lithium market,” he added.

Vice-Minister Ueda expressed his thanks for the opportunity to participate in the meeting. “For us, working sessions such as these are very important, particularly because Japan imports 100% of the base and rate earth metals used for the development of our industry,” he pointed out. He added that, given low commodity prices, “we are facing a complex moment internationally but these difficult times are also a good opportunity to further tighten mining relations between our two countries.”

Sessions, which lasted throughout the day, included presentations by representatives of the Mining Ministry, ENAMICOCHILCO and the Foreign Investment Promotion Agency (APIE) and, on the part of Japan, METI, JOGMEC, Sumitomo Metal Mining and JX Nippon Mining & Metals.

The Head of APIE’s Investment Attraction Division, Pedro Asenjo, highlighted the important role that Japanese companies play in the Chilean economy. “Japan is Chile’s largest Asian source of foreign investment, accounting for an inflow of over US$3,797 million between 2009 and 2014 or around 4% of the total entering the country during that period,” he reported.

At the end of this first day of the meeting, it was agreed to continue deepening relations between the two countries and to seek to establish cooperation projects in areas such as innovation, geology and the lithium market

Source: Mining Ministry / Foreign Investment Promotion Agency