3 Ways the Economy in Chile Affects the Baltic Region

Large distances do not deter Chile and the Baltic states from maintaining fruitful bilateral cooperation. Chile’s economic growth is both a cause and effect of economic progression of the Baltic States. There are 3 ways the economy in Chile affects the Baltic Region. The ties between Chile and Lithuania date back almost 200 years ago. Since then, these two countries have been helping each other in international communities and in economic, education, and cultural issues. Cultural ties between Chile and Lithuania are said to originate from Ignas Domeika, a Lithuanian, arrived in Santiago and became the rector of the University of Chile.

shutterstock_453848032Activities of Corpora Tres Montes in Latvia

Signing of the “Treaty of the Republic of Latvia and the Republic of Chile on Mutual Investment Promotion and Protection” is another way the economy of Chile affects the Baltic region. The treaty saw the start of the development of the convention aimed at abolishing double taxing between Chile and Baltic States. This is a major step in improving trade between the countries. As the Chilean economy grows, there are more trade volumes with the Baltic state. Leaders from the two sides (Ambasador Cubillos and Foreign Minister Valdis Birkavs) have expressed their support for the initiative. bsssc.no covers such critical events.

Chile investors welcomed to the Baltic region

Welcoming Chilean entrepreneurs is one of the 3 ways the economy in Chile affects the Baltic Region. Lithuania has been encouraging Chilean entrepreneurs to start businesses in the country. Consequently, Chilean investment has contributed to Lithuainia’s economy becoming one of the fastest growing in Europe. Lithuanian entrepreneurs also have ways of exporting their products to Chile. The fact that Chile is the third biggest trading partner of the Baltic States from Latin America means that Chile’s economic growth has a direct effect on the trade with the three nations. This is evidenced by the percentage of Chile’s investment in Europe. Most of it is in the Baltic States.