ASEAN Business Advisory Council and Chile-ASEAN Business Council sign MoU to strengthen trade and investment relations between regions.
KUALA LUMPUR: The ASEAN Business Advisory Council (ASEAN-BAC) and the Chile-ASEAN Business Council have signed a memorandum of understanding to strengthen business-to-business relations.
This agreement establishes a formal cooperation framework to unlock new trade and investment opportunities between ASEAN and Chile.
Rodrigo Yáñez, Secretary-General of the Confederation of Chilean Industry and representative of the Chile-ASEAN Business Council, signed alongside ASEAN-BAC chairman Tan Sri Nazir Razak.
The signing ceremony occurred on the sidelines of the ongoing ASEAN Business and Investment Summit 2025.
This partnership represents ASEAN-BAC’s first collaboration with a South American nation.
The Chile-ASEAN Business Council will serve as the main platform for business cooperation and market access facilitation between both regions.
The council will function as a conduit for regular exchange of market intelligence and organisation of business delegations.
It will also coordinate joint trade forums and investment roundtables.
Nazir described the partnership with Chile as a pivotal step in deepening ASEAN’s global economic ties.
He stated this collaboration opens new frontiers for trade, investment and cooperation.
The Chile-ASEAN Business Council will drive two-way economic engagement and strengthen integration under the Regional Comprehensive Economic Partnership.
Nazir highlighted that Chile’s resources and innovation combined with ASEAN’s dynamism create valuable complementarities.
These synergies can elevate both regions’ roles in global value chains.
Yáñez called the MoU a historic milestone in Chile-ASEAN relations.
The bilateral business council will identify business opportunities and promote cooperation in multiple sectors.
These sectors include innovation, energy, critical minerals, food, logistics and sustainability.
The council will encourage integration of Chilean companies into Southeast Asian supply chains.
This establishment complements Chile’s agenda as an ASEAN Partner.
It strengthens Chile’s participation in the bloc’s economic and business initiatives. – Bernama
