After four rounds of negotiations, which began in June 2018, negotiations concluded in Santiago to achieve a Free Trade Agreement (FTA) between Chile and Brazil, a new generation agreement that includes modern disciplines that regulate and facilitate international trade.
The Agreement was signed during President Sebastián Piñera's official visit to his counterpart Michel Temer in April 2018 in Brasilia. During the visit, both leaders agreed to expand and deepen economic and trade relations through the negotiation of a Free Trade Agreement, which will complement the ACE 35 in force since 1996.
"The negotiating teams applied a sense of urgency to this work, which enabled the Agreement to be concluded in record time," said Direcon's general director, Rodrigo Yáñez.
Non-tariff chapters
The chapters that this FTA will contain, of a non-tariff nature, are the following: Trade Facilitation, Competition Policy, Temporary Entry of Persons, Micro, Small and Medium Enterprises (MSMEs), Good Regulatory Practices, Electronic Commerce, Trade in Services, Telecommunications (highlighting the issue of roaming between both countries), Trade and Gender, Trade and Environment, Trade and Labor Affairs, Economic and Commercial Cooperation. In regulatory matters, the chapters on Sanitary and Phytosanitary Measures and Technical Barriers to Trade stand out.
Also, it was incorporated For the first time in a trade agreement, the chapter on Regional and Global Value Chains, with which “both countries recognize the importance of deepening integration in the trade of goods, services and investments, with possible activities and actions that allow SMEs to enter these chains,” explained Rodrigo Yáñez.
Additionally, This treaty will incorporate the Investment and Financial Services Agreement which was signed in 2016 by both countries, as well as the Public Procurement Agreement signed in April 2018. The latter will allow for the establishment of a common framework of principles and standards, with a view to expanding bilateral trade opportunities in this area, under conditions of transparency, equality and non-discrimination.
Canciller @robertoampuero highlighted the conclusion of negotiations of the Free Trade Agreement with #Brasil??: We want to "promote a foreign policy with concrete benefits for our citizens"? https://t.co/aslh0zExH6 pic.twitter.com/lSCVwxvAw8
— Chilean Foreign Ministry ?? (@Minrel_Chile) 22th October 2018
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