This article analyses the evolution of the milk foreign trade in Chile. The product and the country are paradigmatic cases inside a wider problematic. On the one hand, the increasing liberalization of international trade of agricultural products, due to the negotiations of the World Trade Organization (WTO) in the Doha Round, tends to benefit very specific countries, inside emergent economies: Brazil, Argentina, Chile, etc. On the other hand, the dairy is one of the sectors that have a major potential growth of the demand and, simultaneously, with higher levels of national intervention, which have been only partially limited by the agreements of the WTO. Chile is an archetypal case of growth based on foreign trade, among other things, of agricultural and agro-food products. The recent evolution of the country creates new possibilities in order to promote milk as new agro-food specialization, which complements other agro-food industries that already addressed the majority of their production to the foreign markets. This article proposes to explore the forms in which this augmentation of the exports can be achieved and also the way in which the internal organization of the milk value chain can change.