Plurilateral Trade Agreements and the Impact on LDCs - To Participate or not to Participate? Country Case Study: Chile

Chile is considered a socio-economic development success story in Latin America. Since transitioning to democracy in 1989, the country has experienced positive growth and attained middle-income country status. Liberal economic programmes coupled with progressive political and social policies have helped to reduce poverty and improve socio-economic conditions for all Chileans. Chile has prioritised regional economic integration. Chile has a long-standing investment and trade strategy that promotes both public–private partnerships and initiatives by government agencies such as the Foreign Investment Committee and ProChile (the country’s trade and investment promotional body) to attract private and public FDI.19 Various regulatory reforms in its public services and financial services sectors have created new opportunities for FDI,20 which is giving momentum to the country’s economic diversification drive.