Palafitos Castro, Isla de Chiloé, Chile
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Foreign Minister attends Fifth Italy-Latin America and Caribbean Conference

Rome, October 6, 2011

With a call to strengthen investment in human capital, Foreign Minister Alfredo Moreno spoke at the third session of the Fifth Italy-Latin America and Caribbean Conference.

During the session, entitled “Economic Policies for Integration,” Minister Moreno highlighted the challenges and possibilities that globalization and economy bring to Latin America, placing special emphasis on  the efforts made by Chile to fund postgraduate scholarships at top universities worldwide for the education of high level professionals.

He also mentioned how trade integration helps to Europe- Latin America integration, emphasizing the ways explored by Chile. He highlighted its low and uniform tariffs “which means that all productive sectors are lowly protected, which makes them highly competitive and with an equal treatment for all”, he said.

At the bilateral level, Minister Moreno stressed that our country has signed free trade agreements with 58 countries. As regards the multilateral level, he reaffirmed Chile’s support to the Doha Round. In this regard, “at the multilateral level we can solve issues easier than bilaterally such as the reduction of agricultural and fisheries subsidies.”

On the other hand, Minister Moreno highlighted investment as the most significant form of integration. “Europe is the largest investor in Latin America and Chile,” he stressed, while affirming that 39 percent of investments registered in Chile come from Europe. However, “these investments should be responsible to the environment and society”. He then added, “In that sense Europe has already come a long way that can help us greatly.” In this regard, he noted that socially and environmentally responsible investment will be proposed as main topic at the forthcoming LAC-EU Summit, to be held in Santiago in June 2012.

Prior to his presentation, Minister Moreno thanked the words in memory of late Gabriel Valdés, former Minister of Foreign Affairs during the opening day of the conference, highlighting his love of Italy and his continued support for Latin American integration and building closer ties with Europe.

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