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AUSTRALIA-CHILE ECONOMIC LEADERSHIP FORUM ASIA-PACIFIC PLATFORMS CONTENTS EXECUTIVE SUMMARY THE FORUM Reasons for the Forum Summary of Forum discussions Mining Energy Water management Transport and logistics Education Pension fund management Regional platforms Concluding points PROMOTING BILATERAL TRADE AND INVESTMENT APPENDICES A. Speakers at the Australia-Chile Economic Leadership Forum B. Media coverage of the Australia-Chile Economic Leadership Forum C. Fast facts on bilateral trade and investment 2

EXECUTIVE SUMMARY The Australia-Chile Economic Leadership Forum: Asia-Pacific Platforms, which took place in Santiago on 11-12 December 2014, was the first event of its type in Latin America. The objective of the Forum was to commence a new chapter in the Australia-Chile bilateral relationship, building on achievements over the past two decades that include bilateral Free Trade, Double Taxation and Social Security Agreements as well as the important increase in air services between the two countries. Both countries have an important potential to serve as a gateway for trade and investment in the rest of their region. The Forum focused on six sectors: mining, water management, energy, transport and logistics, education and pension fund management. Participants included Chile s President Michelle Bachelet, her Ministers of Foreign Affairs, Economy, Mining and Energy, former Presidents Ricardo Lagos and Eduardo Frei and Australia s Minister for Trade and Investment Andrew Robb AO MP. Discussion at the Forum served to highlight similarities between the two countries and the resulting synergies and opportunities for two-way learning. The Forum was in step with the Australian Government s economic diplomacy agenda and its emphasis on growth, trade, investment and business. The Forum produced a roadmap for the future development of bilateral relations across different sectors; in this sense, it was not an end in itself but rather the beginning of a deeper, broader and more sophisticated relationship. 3

AUSTRALIA-CHILE ECONOMIC LEADERSHIP FORUM ASIA-PACIFIC PLATFORMS The Australia-Chile Economic Leadership Forum: Asia-Pacific Platforms, which took place on 11-12 December 2014 in Santiago, explored the two countries strong and mature relationship and sought to identify untapped economic opportunities in new and existing sectors. The aim, explained Australia s Ambassador to Chile, Timothy Kane, was to take the relationship to the next level, to make a great relationship even better. Organised by the Australian government through its Embassy in Santiago and the Chile- Australia Chamber of Commerce (AUSCHAM), the Forum focused on six key areas: mining, water management, energy, transport and logistics, education and pension fund management. Cutting across all of these sectors was the two countries potential to serve as platforms for trade and investment in their respective regions. The Forum s high-level speakers included Chile s President Michelle Bachelet and several of her cabinet ministers as well as former Presidents Ricardo Lagos and Eduardo Frei and Australia s, Minister for Trade and Investment Andrew Robb AO MP. The high level of public interest in the Forum was evident in the seniority of the businesspeople who attended and the importance of the companies they represented. The Forum was based on the model of the bilateral Economic Leadership Dialogues that Australia has held with countries that include Canada, China and the United Kingdom. It was, however, the first time such an event had taken place in Latin America and Ambassador Kane, who is also Australia s Ambassador to Colombia, Ecuador and Venezuela, hopes it may serve as a benchmark for similar events elsewhere in the region. From left to right: Former President Ricardo Lagos, Minister Trade and Investment Andrew Robb, Mining Minister Aurora Williams, Foreign Minister Heraldo Muñoz, Economy Minister Luis Felipe Céspedes and Ambassador Timothy Kane. 4

REASONS FOR THE FORUM Australia s relationship with Chile is its broadest, deepest and most mature in Latin America and this, combined with Chile s advantages as a platform for doing business in other Latin American countries, made it an obvious choice for the first Latin American Economic Leadership Forum. Other factors taken into account in the decision included: The excellent state of the bilateral relationship is a sound reason to seek to develop it further, rather than allowing it to coast. Trade, investment and cooperation relations in mining and education are already well-developed but diversification into other sectors remains incipient. Opportunities for increased productivity, vocational education and training and qualifications frameworks also mean there remains considerable scope for further cooperation in established sectors such as mining and education. Australia and Chile are excellent brands in each other s country and there was a sense that this needed to be leveraged even further. Despite the buoyant relationship and sizeable Australian investment in Chile, there is scope to increase trade. Australia was Chile s 26 th largest source of imports (accounting for 0.5% of total imports) in 2013 while Australia was Chile s 21 st largest export market (1.0% of total exports). The two countries share a number of key challenges such as water management and exploitation of renewable energy resources. Both also have private pension fund industries with large portfolios and Asia plays a key role in the Australian and Chilean economies. There are many opportunities for the two countries to learn from each other and Australia can contribute experience to Chile in areas such as effective management of water resources, especially in arid parts of the country, and vocational education and training, while Chile can contribute its experience in, for example, innovation through institutions such as the Fundación Chile technology transfer institute and initiatives such as the Start-Up Chile entrepreneurship programme. Just as Chile is a platform for many Australian companies targeting other Latin American markets, Australia is the perfect platform for Chilean companies wanting to engage with Asia. 5

Both countries are eager to encourage more investment and people-to-people links, from student exchanges through to tourism and business placements. The Forum would serve as an opportunity for networking between Australian and Chilean businesses. From left to right: Fidel Baez, Head of Technology & Innovation, Codelco; Valeria Ortiz, Business Development Manager Austrade; Daniel Freraut, Exploration Manager, Codelco; Daniel Sullivan, Trade Commissioner for Chile, Austrade. From left to right: Orlando Jiménez, Director, CSIRO Chile Centre of Excellence; Terry Cutler, Chairman, CSIRO Chile Board; Peter Beaven, Chief Financial Officer, BHP Billiton; Crispin Conroy, Senior Trade Commissioner and Consul-General for Colombia. 6

SUMMARY OF FORUM SESSION In each of the six sessions, the current situation in the different sectors served as the basis for analysis of their likely medium and long-term development, the challenges this will imply and the areas in which increased public and private engagement between Australia and Chile could make the greatest contribution. Former President Ricardo Lagos and Ambassador Timothy Kane. Mining In the session Mining Services and Investment: Mines of the Future where speakers included Chile s Mining Minister Aurora Williams, there was consensus that, around the world, the mining industry - a key contributor to exports and GDP in both Australia and Chile - is entering a new and more complex phase, marked not only by lower mineral prices and the resulting pressure for productivity gains but also by increasing public scrutiny of its environmental and social performance. Peter Beaven, CFO of BHP Billiton, noted that a productivity drive is underway in the industry globally and urged Chile and Australia to ensure they are at its cutting edge. Other speakers, who included Fernando García, Country Manager in Chile for WorleyParsons, and moderator Juan Carlos Guajardo, Executive Director of the Plusmining consultancy firm, emphasised the importance of technological innovation in driving productivity gains. Innovation will be key, argued García, adding that mining can learn from other industries that have innovated and improved efficiency. Jean Paul Luksic, Chairman of Antofagasta Minerals, also pointed out that, in Chile, the challenges have been exacerbated by declining ore grades, rising labour costs, energy issues and water scarcity. In northern Chile, he added, new projects now need to include costly seawater desalination plants with their implications for energy consumption. 7

Outcomes Recommendations that emerged from the session included: Jean Paul Luksic, Antofagasta Minerals, addresses the mining session. Sharing experience on the development of the right legal and regulatory framework, balancing the industry s needs for productivity gains against social concerns over job security and conditions, environmental impacts and the need for community consultation; Sharing experience in addressing the challenges of attracting employees from the geographic area in which a mine is located, and in training specialists; Sharing experience on the role of government in mitigating the negative impacts of the mining cycle; Increasing trade, investment and cooperation in the mining equipment, technology and services sector in a bid to foster innovation and productivity; Active Australian support for Chile s EXPONOR mining fair as a vehicle for increasing the access of Chilean and Australian businesses to new opportunities. Energy In the case of energy, Australia and Chile share many similar challenges but, as Chile s Energy Minister Máximo Pacheco pointed out in the session, Addressing Energy Challenges, Boosting Investment and Developing New Energy Projects, there is also a key difference. Whereas Chile imports two-thirds of its energy needs, Australia exports 70% of the energy it produces. 8

This implies important opportunities for bilateral trade and investment in this sector. However, different speakers at the session encouraged Australia and Chile to go further and share their expertise in developing sustainable energy technologies, including technologies to connect renewable sources to the energy grid. Dr Alex Wonhas, Executive Director for Energy and Resources at the Commonwealth Scientific and Industrial Research Organisation (CSIRO), Australia s national science agency, noted that connection to the grid, rather than cost, is now the main challenge for the development of renewable resources. Ben Bolot, General Manager for International Development at Origin Energy, also called on the Chilean government to address legal, regulatory and social barriers to the development of new projects. In a view echoed by other speakers, he urged the need for a regulatory framework that makes project feasibility more predictable and provides clear channels and timeframes for consultation with impacted stakeholders. Chilean Energy Minister Máximo Pacheco meets Australia s Minister Andrew Robb Outcomes Recommendations that emerged from the session included: Building on Australia s position as a reliable supplier of coal and gas to explore further opportunities to meet Chile s increasing energy demands; Cooperating on how to increase renewables in the Chilean energy matrix; Encouraging foreign investment in Chile s energy market by simplifying the regulatory framework by defining channels of consultation and timeframes; Increasing cooperation on the development of systems to forecast energy flow from intermittent sources such as solar and wind, demand management, connection of renewables to the grid and energy efficiency and saving projects. 9

Water management Introducing the session Water Management: Improving Water Usage and Achieving Sustainable Policies, Professor David Griggs of Australia s Monash University highlighted the global importance of water management. He also pointed out that agriculture is the single most important area to focus on since some three-quarters of the world s fresh water usage is related to agricultural practices. Nigel Baker, General Manager of Pacific Hydro Chile, noted that periods of drought and high consumption - as experienced by Chile over the past five years - underscore the need for efficient water management. He highlighted the stress that such events put on water users, including small-scale and subsistence farmers, as well as the resource itself. To address this issue, Australia has developed water basin management plans that clearly define the volume of water that can be used without damaging the source and its allocation to different users as, for example, in the important Murray Darling Basin. In this context, Leith Boully of Australia s National Water Commission emphasised the importance of dialogue among impacted parties as goals, priorities and allocations are negotiated. This is a direction in which, as Carlos Estévez, Director General of Chile s National Water Board (DGA), pointed out, Chile is also beginning to move and there was consensus among speakers at the Forum that this is an area in which Australia and Chile should cooperate and can learn much from each other. Left to right: Carlos Estévez, Chile s National Water Board (DGA); Patricio Crespo, National Agricultural Society (SNA); Nigel Baker, Pacific Hydro Chile Outcomes Recommendations that emerged from the session included: Cooperation on developing market-friendly water usage policies and management frameworks that differentiate between different areas of the country, including both surface and underground water and the incorporation of recycling technologies; 10

Promoting opportunities for Australian and Chilean suppliers of water-management expertise and solutions to expand their work and cooperation internationally; Adapting Australia s water management model to Chile; Participation of a strong delegation from Australia in the Water Week Latin America conference to take place in Chile in March 2015. Transport and logistics Due to their geographic location, Australia and Chile rely heavily on transport and logistics to facilitate trade which plays a crucial role in both countries economic performance and growth. Moreover, as traditional barriers have gradually been reduced through, for example, free trade agreements, businesses and governments have increasingly focused on promoting the development of supply chains as a means to boost trade flows. In the session Transport and Logistics: Boosting Trade Flows and Improving Supply Chain Management, different speakers also noted that improving transport and logistics will be essential in realising the full potential of Australia and Chile as gateways for increased trade integration between the Asia-Pacific region and Latin America. Regular Qantas non-stop and LATAM one-stop flights between Santiago and Sydney provide what Vanessa Hudson, Senior Executive Vice-President for the Americas at Qantas, described as an invisible highway between the two countries. Ease of travel between the two countries is further reinforced by the fact that Australia no longer requires transit visas for Chilean citizens. Speakers at the session, however, emphasised the importance of further facilitating travel between the two countries by, for example, considering Chile s inclusion on the list of countries eligible for Australia s Electronic Travel Authority which would eliminate the need for a visa to visit Australia for tourism. Jorge Marshall, Chairman of Chile s Maritime and Port Chamber (CAMPORT), noted Chile s success over the past 20 years in expanding its transport and logistics infrastructure but warned that further important progress over the next 20 years will be crucial for the country s competitiveness. In this context, he recognised Australia s experience in areas that include the integration of rail and port infrastructure for mining and integrated customs services. 11

Outcomes Recommendations that emerged from the session included: Graham Tew of Monash University talks about Western Australia s experience in heavy-haul rail infrastructure and systems. Assessing the applicability to Chile of Australia s experience in increasing port productivity, including the development of human capital; Promoting Australian investment in infrastructure in Chile, including roads, ports and railways; Identifying lessons Chile could learn from Australia s use of rail transport. Education In recent years, education and training have emerged as one of the most important areas of collaboration between Australia and Chile. The Chilean government has identified Australia as one of the models it is looking towards for its education system, particularly but not exclusively as regards vocational education and training. In the session The Role of Education, Science and Training in Advancing Productivity and Innovation, speakers discussed possible avenues for deepening this collaboration, with an emphasis on how education, science and training can contribute to meeting the two countries productivity challenges. One of these avenues is already being explored by two Australian institutions - CSIRO and the University of Queensland, which have established centres of excellence in Chile. Part of the reason that CSIRO was established in Australia was to address productivity and innovation challenges, said Terry Cutler, Chairman of the CSIRO Chile Board. Chile should now follow a similar path. The aim of the centres of excellence is to create innovation bridges between the two countries, he added. Patricio Meller, Chairman of the Fundación Chile technology transfer institute, identified human capital as a potential bottleneck for Chile s future economic growth and suggested 12

that workforce training is an area in which it could learn from Australia. He noted that Chile and Australia have important similarities in that both are mining countries for which upskilling their workforce is crucial to improve the sector s productivity. Left to right: Terry Cutler, CSIRO Chile Board; John Dell, Dean of faculty of engineering, University of WA. Patricio Meller, Fundación Chile; Robert Funk, Instituto de Asuntos Públicos, Universidad de Chile. Outcomes Recommendations that emerged from the session included: Strengthening the relationship by working together on innovation and joint research, including expanding CSIRO s and the University of Queensland s work in Chile beyond the mining and water sectors; Collaboration on workforce training across different sectors in Chile, such as ports as well as mining, and on ways to increase the social and economic value attached to technical training and trades; Collaboration to expand applied research in Chile to complement its focus on theoretical research; Sharing experience on how to develop successful and productive industry-university relations in order to take the former s needs into account in syllabus design. Pension fund management Chile s and Australia s pension fund systems are recognised internationally as models for addressing the challenges of an ageing population and boosting national savings. In this context, the session Pension Fund Reform and the Role of Funds in Infrastructure Development looked at two key issues - how to channel part of pension funds assets under management into the public infrastructure required for a country s competitiveness and, more generally, how to facilitate their portfolio diversification. 13

Australia has a successful track record of public-private partnerships, the typical vehicle for the participation of institutional investors in infrastructure projects. However, Paul Espie, founder of Pacific Road Capital Group, a Sydney-based private equity manager, warned of challenges that include post-investment policy changes that can affect the return on an investment and public opposition to charges for use of privately-financed infrastructure that has traditionally been provided by the state. In the case of portfolio diversification, the opportunities Australia offers Chile s private pensions funds, both as an investment destination in itself and as a gateway into Asia, were discussed. Outcomes Recommendations that emerged from the session included: Paul Espie Chairman Pacific Road Capital. Examining the lessons of Australia s experience of public-private partnerships as regards making investment in infrastructure more attractive to Chile s private pension funds; Fostering collaboration between Australia and Chile on pension funds diversification, with a particular view to Chilean funds use of Australia as a hub for investments in Asia. Regional platforms In the final session Australia and Chile: Regional Platforms for Trade and Investment, Chile s Vice-Minister for Trade Andrés Rebolledo predicted that the importance of the Australia- Chile relationship will increase as trade between Latin America and Asia expands and initiatives like the Pacific Alliance (formed by Chile, Colombia, Mexico and Peru) evolve. He also suggested that the relationship may serve as a model for others. 14

On Australian investment in Chile, Jorge Pizarro, Executive Vice-President of the Chilean government s Foreign Investment Committee, noted that historically this had been principally in mining. However, he indicated that it has also had important spin-off effects in areas such as technology and innovation and indicated that, in future, he expects it to play an important role in the expansion of renewable energy, education and water management. José Blanco, Chairman of the Australia-Latin America Business Council, spoke about the important synergies between Australia and Chile but warned of the need for ongoing work to strengthen relations. A focus in the future should, he suggested, be the development of ties at the level of small and mid-sized enterprises (SMEs). INVESTOR BREAKFAST As well as its plenary sessions, the Forum included a breakfast, Investment in Australia and the Asia-Pacific Region, hosted by Australia s Minister for Trade and Investment Andrew Robb AO MP on Friday 12 December. The event attracted senior representatives from Chile s largest family offices as well as Chilean companies with investments in Australia such as Antofagasta Minerals, LATAM Airlines Group and the Arauco forestry company. Speaking first, Rafael Gulisasti, Vice-President of Chile s Manufacturers Association (SOFOFA), drew upon his experience in the wine business to emphasise the need to operate globally. Minister Robb then discussed Australia as an investment destination and shared insights about Australia as a gateway to Asia. (There has been follow-up with some of the family offices present, including a visit by one to Australia in February.) OFFICIAL DINNER A Forum Dinner was held at the Castillo Hidalgo in Santiago at which President Michelle Bachelet and Minister Robb gave keynote addresses. Underscoring the importance of the bilateral relationship and the mutual desire to advance relations and cooperate more closely, the dinner was attended by Chile s Ministers for Foreign Affairs, Economy, Mining and Energy and the Vice-Minister for Trade. President Bachelet emphasised the importance of the Asia-Pacific region to Chile and how Chile can learn from Australia, including in relation to institutions such as a Productivity Commission. Minister Robb spoke about the importance of connectivity between Australia and Chile, the rise of a sizeable middle class in Asia and the opportunities that would mean for Chilean and Australian businesses and the invitation to Chilean investors to help develop the northern part of the Australian continent, as well as Australia and Chile as significant trading hubs. 15

The dinner provided an excellent opportunity for government and business representatives to strengthen their links and gain a greater understanding of policy priorities and trade and investment opportunities. 16

CONCLUDING POINTS The first Economic Leadership Forum to take place in Latin America: Reinforced perceptions of Australia and Chile as close business partners, reliable investment destinations and regional business and investment platforms for each other in Asia and Latin America, respectively; Successfully raised the profile of Australia in Chile, not only among those who attended but also through extensive press coverage (see Appendix for media reporting); Served to highlight the similarities that exist between the two countries and the resulting synergies; Resulted in a deeper understanding of some of the challenges faced by Chile and how Australia can contribute to its efforts to address them; Highlighted Australia as a contemporary and effective model for Chile at this point in the latter s development, from institution building to education policies, and as the right platform for Chilean investors and businesses to interact more deeply with Asia - just as Australian companies have continued to launch successfully into Latin America from Chile; Supported working with the Chilean and Colombian governments to promote the Pacific Alliance as an effective mechanism for trade and investment liberalisation and economic integration, including Australia s participation as an observer; Agreed on the need to work towards the successful conclusion of the Trans-Pacific Partnership (TPP) negotiations; Showed a strong mutual interest in taking full advantage of one another s free trade agreements (FTAs); Helped to build a foundation for ongoing collaboration in identifying other challenges and opportunities; Produced a roadmap for the future development of bilateral relations across different sectors. 17

PROMOTING BILATERAL TRADE AND INVESTMENT Useful websites for companies interested in doing business in Australia or Chile include: AUSTRALIAN GOVERNMENT Department of Foreign Affairs and Trade www.dfat.gov.au Australian Trade Commission www.austrade.gov.au Australian Embassy in Chile www.chile.embassy.gov.au CHILEAN GOVERNMENT Ministerio de Relaciones Exteriores de Chile www.minrel.gov.cl ProChile export promotion agency www.prochile.gob.cl Foreign Investment Committee www.foreigninvestment.cl Chilean Embassy in Australia www.chileabroad.gov.cl/australia BILATERAL ORGANISATIONS Chile Australia Chamber of Commerce www.auscham.cl Council for Australia-Latin America Relations (COALAR) www.dfat.gov.au/people-to-people/foundations-councils-institutes/coalar/pages/councilfor-australia-latinamericarelations-coalar.aspx Australia-Latin America Business Council (ALABC) www.alabc.com.au 18

APPENDICES 19

Why Australia for Chilean businesses? Australia is the world s 13th largest economy and has experienced 23 years of uninterrupted growth. Australia s has a long-established and successful engagement with Asia, increasingly the motor of the global economy. Chile and Australia have had a Free Trade Agreement (FTA) in operation since 2009 and a Double Taxation Agreement (DTA) since 2013. Australia ranks 10th out of 189 countries in the World Bank s Ease of Doing Business ranking, 4th out of 178 countries in the US-based Heritage Foundation s Index of Economic Freedom and 11th out of 175 countries in Transparency International s Corruption Perceptions Index. Travelling to Australia is easy, with non-stop flights four times a week by Qantas Airways and daily one-stop flights by LATAM Airlines Group. Chileans in transit (less than eight hours) in Australia - for example, to Asia - no longer require a visa. Australia has an FTA with China and is in negotiations with other Asian countries. 20

Why Chile for Australian businesses? Australia and Chile have had a Free Trade Agreement (FTA) in operation since 2009 and a Double Taxation Agreement (DTA) since 2013. Chile s 24 trade agreements provide businesses based in Chile with duty-free or preferential access to a total of 62 countries, including most other Latin American markets. Chile is an investment-grade country, ranks 41st out of 189 countries in the World Bank s Ease of Doing Business ranking, 7th out of 178 countries in the US-based Heritage Foundation s Index of Economic Freedom and 21st out of 175 countries in Transparency International s Corruption Perceptions Index. Macroeconomic stability and policy continuity have been maintained across different governments for more than two decades. Travelling to Chile is easy, with non-stop flights four times a week by Qantas Airways and daily one-stop flights by LATAM Airlines Group. The Australia-Chile FTA and DTA, combined with Chile s membership of the OECD, facilitate Board approval and insurance coverage for projects there. Chile is a proven quantity as a competitive, reliable and straightforward base from which some of Australia s most successful companies (e.g. BHP Billiton, Pacific Hydro and WorleyParsons) have engaged with the region. 21

A. SPEAKERS AT THE AUSTRALIA-CHILE ECONOMIC LEADERSHIP FORUM Session 1 - Mining Services and Investment Mines of the Future Moderator: Juan Carlos Guajardo Executive Director of Plusmining. An economist, Mr. Guajardo was previously Executive Director of the Santiago-based Centro de Estudios del Cobre y la Minería (CESC). Aurora Williams Chile s Mining Minister. An economist and business administrator, Ms. Williams was previously administration and finance manager of the international terminal at northern Chile s Antofagasta port. Peter Beaven CFO of BHP Billiton. Mr. Beaven joined BHP Billiton in 2003 and was previously president of its Copper division. Fernando García Country Manager in Chile at WorleyParsons. A civil engineer, Mr. García has led the development of key mining projects around Latin America and copper projects internationally. Alba Ruíz León Technical Manager for South America at Ausenco Rylson Chile. An industrial engineer, Ms. Ruíz León has also worked in the energy and water industries and carried out research for the aerospace sector. Jean Paul Luksic Chairman of Antofagasta plc and Antofagasta Minerals S.A. With a degree in economics and political science, Mr. Luksic also chairs the board of Chile s Mining Council. Alberto Salas President of Chile s National Mining Society (SONAMI). A mining engineer, Mr. Salas is also a director of the state-owned Empresa Nacional de Minería (ENAMI) and of a number of private mining companies in Chile. 22

Joaquín Villarino Executive President of Chile s Mining Council. A lawyer, Mr. Villarino has extensive experience in the water industry and is a director of a number of important Chilean companies. Session 2 - Transport and Logistics Boosting trade flows and improving supply chain management Moderator: Álvaro Díaz Ex subsecretario de Economía y Presidente de la Comisión de Innovación Sector Portuario Vanessa Hudson Senior Executive Vice-President for the Americas at Qantas. Over a 20-year career, Ms. Hudson has held a range of senior commercial, customer, operational and financial positions in the airline industry. Jorge Marshall Chairman of Chile s Maritime and Port Chamber (CAMPORT). An economist, Mr. Marshall has held posts that include Economy Minister and Vice-Governor of the Chilean Central Bank. Graham Tew Principal Research Fellow at the Faculty of Engineering of Monash University. During his career in the private sector and the University, Mr Tew has played a key role in new railway technology developments. Robert West Principal Strategist, Ports & Marine Terminals for US & Latin America at WorleyParsons. Mr West s experience includes land, ocean, rail and air transportation and he has worked in many Latin American countries as well as in Eastern Europe. Session 3 - Water Management Improving water usage and achieving sustainable policies Moderator: Orlando Jiménez Executive Director of CSIRO Chile. Nigel Baker General Manager, Pacific Hydro Chile. An engineer, Mr. Baker has worked in the engineering consulting, manufacturing and energy sectors and, most recently, the renewable energy industry. 23

Leith Boully Australian National Water Commissioner. Ms. Boully has over 30 years experience in water resource management, stakeholder engagement, research and policy from farm to national government levels. Patricio Crespo Acting President of Chile s National Agricultural Society (SNA). A civil engineer and business administrator, Mr. Crespo has a long career in the agricultural and agribusiness sectors. Carlos Estévez Director General of Chile s National Water Board (DGA). A lawyer, Mr. Estévez previously worked at the Interior Ministry and as Chile s commercial attaché in Barcelona. Dave Griggs Director of the Monash Sustainability Institute (MSI). Previous posts held by Mr. Griggs include UK Met Office Deputy Chief Scientist, Director of the Hadley Centre for Climate Change and Head of the Intergovernmental Panel on Climate Change (IPCC) scientific assessment unit. Session 4 - Education The Role of Education, Science and Training in Advancing Productivity and Innovation Moderator: Hernán Araneda Manager of Innovum, the human capital development unit of Fundación Chile. A psychologist and sociologist, Mr. Araneda has over 20 years experience in the development of human capital and has worked as a consultant to different international organisations. Manuel Agosin Dean of the Economics Faculty of the Universidad de Chile. As well as a professor, Mr, Agosin is also a consultant to the Inter-American Development Bank and has advised a number of Latin American governments. Terry Cutler CSIRO Chile Board Chairman. Mr. Cutler has specialised in the information and communications technology sector and is the author of numerous reports and papers on technology policy, regulation and innovation. John Dell Dean of the Faculty of Engineering, Computing and Mathematics at the University of Western Australia. Before joining the Faculty, Mr. Dell worked in industry developing technologies for 24

optoelectronics and space radiation effects. Robert Funk Professor of Political Science at the Public Affairs Institute of the Universidad de Chile. Mr. Funk s research focuses on Chilean politics and he is also a non-resident investigator at the Center for Strategic and International Studies in Washington DC. Patricio Meller President of Fundación Chile. A civil engineer and economist, Mr. Meller is a professor at the Industrial Engineering Department of the Universidad de Chile and the author of many publications and a series of books on the Chilean economy, mining and international trade. Session 5 - Pension Fund Management Pension Fund Reform and the Role of Funds in Infrastructure Development Moderator: Máximo Latorre President of BICE Inversiones Corredores de Bolsa S.A., the stockbrokerage arm of Banco BICE. Paul Espie Founder of Pacific Road Capital Group. Mr. Espie established Pacific Road Group (PRG) a Sydney-based boutique investment bank, in 1986 after working on project and corporate finance in the United States and United Kingdom as well as Australia. Chris Hudson Associate Director, KPMG Direct Investments, Latin America. Mr. Hudson previously managed a boutique investment advisory business and also worked in fund management in New York. Rodrigo Pérez Mackenna President of the Chilean Association of Pension Fund Administrators (AFPs). A civil engineer, Mr. Pérez Mackenna previously served as Chile s Housing Minister. Klaus Schmidt-Hebbel Professor of Economics at the Universidad Católica de Chile. Mr. Schmidt-Hebbel is also an international consultant and has served as Chief Economist of the OECD. Session 6 - Energy Addressing Energy Challenges, Boosting Investment and Developing New Energy Projects 25

Moderator: Juan Francisco Mackenna Chairman of the Chile-Australia Chamber of Commerce (AUSCHAM). A lawyer, Mr. Mackenna is a partner at the Santiago-based Carey law firm and head of its energy group. Máximo Pacheco Chile s Energy Minister. An economist and business administrator, Mr. Pacheco previously served in different senior executive posts at International Paper. Ben Bolot General Manager for International Development at Origin Energy. Prior to joining Origin in 2011, Mr. Bolot was a founding partner of Minerva Advisory Partners, a boutique advisory and consultancy business. Nicolás Caussade Energy Manager at Antofagasta Minerals Mining Group. A civil engineer, Mr. Caussade is also Chairman of the Climate Change and Energy Commission of Chile s Mining Council. Carlos Finat Executive Director of the Chilean Renewable Energy Association (ACERA). An electrical engineer, Mr. Finat previously worked at the Collahuasi mining company and has also managed northern Chile s electricity grid (SING). John Mathews Professor of Strategic Management at Macquarie Graduate School of Management. Mr. Mathews has extensive experience of teaching strategic management, international business and industrial dynamics at different international universities. Alex Wonhas Executive Director for Energy and Resources at CSIRO. Dr Wonhas previously worked as a consultant at McKinsey & Company, advising national and international energy and resources companies on strategy and operations. Session 7 - Australia and Chile: Regional Platforms for Trade and Investment Moderator: Manfred Wilhelmy Professor at the Institute of International Studies of the Universidad de Chile. A lawyer, Mr. Wilhelmy is also Executive Director of the Fundación Chilena del Pacífico and President of the Chilean Committee of the Pacific Economic Cooperation Council (PECC). 26

Andrés Rebolledo Chile s Vice-Minister for Trade. An economist, Mr. Rebolledo previously held different posts in the Foreign Ministry and has worked as a consultant at the Inter-American Development Bank. José Blanco Chairman of the Australia-Latin America Business Council. A lawyer, Mr. Blanco has also worked in banking and is the founder of Blanco Partners, an advisory firm. María Carolina del Río Founding partner of the Mujeres del Pacífico business network. A lawyer, Ms. del Río specialises in intellectual property. Jorge Pizarro Executive Vice-President of the Chilean government s Foreign Investment Committee (CIEChile). Mr. Pizarro previously managed the Puro Wine Retail Space and Puro Chile Event Space and Business Platform in New York. 27

B. MEDIA COVERAGE OF THE AUSTRALIA-CHILE ECONOMIC LEADERSHIP FORUM The Australia-Chile Economic Leadership Forum received extensive coverage in the Chilean media where it was the subject of 68 different publications (19 in the print media, 44 in online media, three in magazines, one on television and one on radio). These publications generally highlighted the strong relations that exist between the two countries as well as Australia s leadership and experience in sectors that include mining, energy and water. A selection of the coverage is shown below. 28

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