OREANDA-NEWS. The Bank of Tokyo-Mitsubishi UFJ Ltd. (BTMU) is pleased to announce that it has entered into a Memorandum of Understanding (MOU) on December 1, 2014, with the Chilean Foreign Investment Committee (El Comite de Inversiones Extranjeras) regarding a Cooperation Agreement for the purpose of developing collaborative efforts to support foreign direct investment into Chile from Japan.

The Chilean Foreign Investment Committee is a government umbrella organization, chaired by the Minister of Economic Affairs and including the Minister of Finance, Minister of Foreign Affairs, Central Bank Governor, and others, which was established to promote foreign direct investment.

Chile is the largest copper-producing country in the world, accounting for one-third of all copper production. Chile also possesses 70% of the world's lithium reserves, and the country has been attracting attention as a supply base of mineral resources. Many Japanese enterprises have moved into the agriculture, forestry, and fish culture industry.

BTMU established a representative office in Santiago, Chile in 1978. In 1981 it upgraded to a branch office in order to support customer development and investment in the country, making BTMU the only Japanese bank in Chile able to provide full banking services such as deposits, loans, and foreign exchange. By this MOU, BTMU, together with the Chilean Foreign Investment Committee, strives to provide stronger support to our customers exploring possibilities of investing or expanding into Chile by proactively providing potential investors with the relevant information on the business environment and promising projects in Chile through organizing events such as seminars jointly hosted with the Chilean Foreign Investment Committee.