British Exports Minister Lord Offord’s visit to Chilie marks a pivotal moment for UK-Chile relations. Leading a delegation of top British hydrogen and renewable energy companies, the Minister aims to unlock new business opportunities in Chile’s thriving energy sector.
This Santiago showcase event connects UK businesses with Chilean developers and prospective clients, highlighting the UK’s dedication to meeting Chile’s energy needs and showcasing British innovation in renewable technologies.
Discussions with Chile’s Energy Minister Diego Pardow and Economy Minister Nicolás Grau are high on Lord Offord’s agenda, focusing on collaborative strategies to foster renewable energy and enhance trade relations.
Mutual Benefits and Opportunities
Minister Malcolm Offord views the scenario optimistically: “With Chile’s ambition to boost its renewable energy infrastructure, and the UK’s expertise and capabilities in this field, there is a clear opportunity for both our countries to benefit and prosper.”
He underscores Chile’s significance as a major Latin American trading partner and anticipates further growth in trade dynamics following the UK’s accession to the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP).
Trade Agreement: A Gateway for Growth
The 2019 UK-Chile trade agreement was a landmark event for the UK. Joining CPTPP, which includes Chile, promises to expand this relationship. Businesses from both countries will soon benefit from selecting the most suitable trade framework.
Trade between the two nations rose by 13% last year, reaching £1.9 billion. The UK’s strategy focuses on expanding this partnership, particularly by aiding Chile to harness its renewable resource potential, emphasizing low carbon hydrogen and capitalizing on UK’s advanced technology.
CPTPP promises reduced tariffs for exporters and new opportunities for service industries, thus enriching energy and infrastructure sector ties.
Chile: A Leader in Decarbonization
Chile, with its vast copper and lithium reserves and a leading role in regional renewable energy, attracts numerous UK companies.
Patricio Maguire, Director at Turner and Townsend Chile, notes, “Chile and the UK share a long history of cooperation. Green hydrogen and carbon capture industries are another examples of new areas of integration.”
Tom Wills, Development Director at Voar Energy, shows excitement about joining this trade mission, recognizing Chile’s potential as a green hydrogen leader.
Agustin Lopez Munell, CEO of Desitec, preparing for their HQ shift from Argentina to the UK, aligns with the mission’s objectives to explore hydrogen technology partnerships.
This trade mission is a testament to the strong UK-Chile relationship, focusing on renewable energy and enhanced trade. It showcases a shared commitment to a sustainable and decarbonized future.
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