The US and Chile have “strong commitment to shared objectives,” says Yellen

The US Secretary of the Treasury, Janet Yellen, He stated this Friday that Chili and USA they have a “strong commitment to shared objectives”, within the framework of his visit to the South American country, where he landed this morning after attending Brazil to the meeting of the finance ministers of the G20.

“The United States and Chile have a long-standing bilateral economic relationship characterized by close cooperation and a strong commitment to shared goals, including addressing climate change by carrying out the energy transition,” Yellen stated.

“Many of you are recognized for your innovation and great achievements, such as developing green financing products and technologies to drive the transition. And I’m looking forward to hearing your reflections.” said the highest American economic authority and the first woman to reach that position.

For his part, the Chilean Minister of Finance, Mario Marcel, highlighted the promotion of the National Lithium Strategy during the mandate of President Gabriel Boric and the relevance of green hydrogen in the country’s projections.

The head of the Treasury stressed that the strategy is consistent with United States policy, giving Chile the potential to “become a strategic partner in the supply of critical components and materials for the development of the clean energy industry” in the North American country.

“We look forward to further developing the significance of these approaches over the course of their existence, as well as identifying new opportunities and embracing the initiative and accelerating greater partnership between Chile and the United States in this and other areas.”said Marcel.

The Secretary of the Treasury gave these statements before a meeting with executives from Enel, CMPC, Banco Estado, the Inter-American Development Bank, JP Morgan and Minister Marcel.

During the 48 hours that Yellen will remain in Chile starting this Friday, she will hold meetings with President Boric; the president of the Central Bank, Rossana Costa; and with women leaders and representatives of American companies, including Abermale, to emphasize the importance for the United States of the development of the National Lithium Strategy, closely watched by China.

The Free Trade Agreement between Chile and the United States will be in force for 21 years in 2024. In these more than two decades, Chilean exports other than copper to the North American country have tripled and grown at an average annual rate of 5.8%according to data from the Chilean Government.

Since December 2023, the relationship between the two has been strengthened with a bilateral agreement to avoid double taxation for taxpayers who participate in activities in both countries.

Over the years, the bilateral agenda between both nations has covered various aspects, from cooperation to trade and investment, energy, security, education, science, technology and innovation, as well as environmental protection.

The bilateral relationship has also been built through dialogue between different bodies, such as the High Level Bilateral Political Consultative Mechanism between Chile and the United States; the Chile-United States Defense Consultative Committee, the Chile-USA Basic Agreement on Scientific and Technological Cooperation. USA and the Chile-USA Environmental Cooperation Agreement, among others.