Hello, welcome to the segment, "The importance of Asia to Latin America". Here I will try to explain simply why Asia it's so important to companies and business students particularly from Latin America or Spain. Let's start. Well, above all, it should be noted that the importance of Asia results from the commercial exchange between us and Latin America. These are the commercial blocks that exist between Asia and Latin America. As you can see, there is a wide chain that could be used to do business between Asia and Latin America. These blocks are made up of several parts of Latin America with several parts of Asia. It is clear that there are a lot of opportunities to grow businesses between our regions and yours. It's great! Isn't it? In a more graphic way, we can appreciate the blocks between both zones, and although Chile has the advantage, Little by little more partners are opening up to Latin America. I lived as a young man in Chile, a few years in Santiago, when my parents were diplomats. I still have good memories of my time there. Chile has a large presence in Asia, with many of their products even here in Korea. I like Chilean wine very much. The other countries will also be able to achieve success with similar structures and efforts. These are the main markets of Latin America in Asia. It is not new that the main market of Latin America in Asia is China. However, Japan is still an important market and we can notice that India and Korea could present good opportunities for Latin American companies. Continuing with the analysis, Mexico, Brazil and Panama are the main countries in Latin America where Asia provides goods and services. However, remember that thanks to the FTAs in Latin America, goods and services can reach most countries. And in the same way, Brazil, Chile and Mexico serve as suppliers to Asia. Therefore, the doors to enter Asia from Latin America already exist, it only takes visionaries to take advantage of them. In this graph, we are aware of the volume of bilateral exports and imports. An interesting volume, do not you think? Something important to emphasize is that Asia is very different from the rest of the world; It is a difficult market to enter if you do not have sufficient preparation and cultural understanding of it. That is why companies in Latin America have had problems when trying to enter the Asian area. That cultural understanding that I mentioned, is what we will know as Noon Nopi later on. Although most of the imports and exports are made between China and Latin America, This does not mean that the rest of Asia is closed. The other way around. This may be due to the lack of cultural understanding of the Asian area, an understanding that even the United States had trouble to comprehend. However, little by little, the United States invests more in Asia due to the important market it represents. Here we can see that investments towards Latin America have increased over time, above all, the investments coming from Korea. Korea and China are growing, while Japan not as much as before. The route created between Mexico and South Korea, without a doubt, will help open businesses between nations, it is even something that can benefit Latin America in the long term. Additionally, Mexico has participated in fairs in Shanghai, with the objective of promoting fresh foods. On the other hand, we have China making strong investments in Chile. Returning to Korea, you may know about Hallyu. In some countries it takes a longer time than in others, but this term refers to to the growing popularity of Korea in Latin America; this popularity It is what attracts the attention of businesses in both blocks. And to give you an idea of the importance that this represents, Hallyu is considered to become a business of over 38 million dollars for the year 2018. As for soft power, much, much more. Surely you know or have heard of Korean dramas or as they are known, K-drama. Here you can see a list of some Asian soap operas, that have been shown throughout Latin America. I also make short films and I want to show them in your places. Hopefully one day very soon. In some countries these dramas are so important that they have even created specialized channels and have dubbed dramas to the Latin language. Well, now let's look at exports and imports in terms of commercial blocks. We can appreciate that Asia you is in number 2 of importance, right after the United States, and it is still growing. Within this, marketing to Asia has to be very strong, and of course, well suited. To summarize, Asia is a very important region, not only in the global economic perspective, but also to Latin America and its companies. For business students, here is where there will be many opportunities to start your experiences.
