What is APEP? Chile confirms attendance at the first forum summit with the US and Peru

The president of ChiliGabriel Boric, will travel to Washington next week to meet with his American counterpart, Joe Bidenand participate in the I Summit of Leaders of the Alliance for Economic Prosperity in the Americas (APEP), the Office of the Presidency reported this Wednesday.

The president will hold a bilateral meeting on November 2 with Biden within the framework of the 200 years of bilateral relations between Chile and the United States and the 20 years of validity of the Free Trade Agreement.

Both leaders had already met at the IX Summit of the Americas that was held in 2022 in Los Angeles, California, but it is the first time that Boric will be received by Biden in the White House.

Before returning to Chile, Boric will participate on November 3 along with other leaders from the region in the first APEP forum, an event launched by the United States last year to address economic inequality, promote regional economic integration and “restore faith in democracy”.

Eleven countries on the continent announced their accession to the alliance in January, including Barbados, Canada, Colombia, Costa Rica, Chile, Dominican Republic, Ecuador, Mexico, Panama, Peru and Uruguay.

Last January, the FTA between Chile and the United States celebrated its 20th anniversary, a period in which Chilean exports other than copper to the United States tripled and grew at an average annual rate of 5.8%, according to data from the Chilean Government.

In 2022, trade between Chile and the United States reached US$35.4 billion and Chile was the largest supplier to the United States in products such as salmon fillets, fresh grapes, blueberries or salt.

The United States is also the second largest investor in Chile and, according to the latest figures provided by the Chilean Central Bank, the stock of US capital in the South American country amounts to US$ 27,416 million, which represents 10.9% of the total investment. foreign direct (FDI).