Chile and Ecuador signed this Thursday (13.08.2020/XNUMX/XNUMX) a free trade agreement, which replaces a Supplementary Agreement of 2008.
Through a virtual link, the presidents of Ecuador, Lenín Moreno, and Chile, Sebastián Piñera, witnessed the signing of the instrument that will deepen and modernize the Economic Complementation Agreement (ACE 65) that governs trade relations between both countries.
The agreement contains 24 chapters, including agricultural issues, public procurement, market access, e-commerce, among others.
Piñera, who was accompanied by Foreign Minister Andrés Allamand, praised the agreement that will address trade in services, electronic commerce, telecommunications, labor issues, the environment, gender and SMEs.
"It will undoubtedly allow us to better face the many challenges that we will have to take on on the road to a better future for both countries," said the Chilean head of state.
In terms of e-commerce, it is projected that The treaty will have a greater impact on micro, small and medium-sized enterprises by facilitating electronic transactions and improving the conditions under which Chilean digital service and product providers operate in the Ecuadorian market, Chile's fifth largest trading partner.
Piñera assured that The agreement will allow both countries to have more opportunities, and for their “economies to develop more strongly,” creating more and better jobs, as well as “greater opportunities to access technologies and the world to come”.
The agreement also encourages the participation of Chilean suppliers of goods and services in public tenders on equal terms with Ecuadorian companies.
In terms of regional development, both countries were founding countries of the Forum for the Progress of South America (Prosur), while Ecuador participates as an observer state in the Pacific Alliance, made up of Chile, Colombia, Mexico and Peru, a bloc that forms the eighth economic and exporting power in the world.
With information from Télam
[LIVE] President @sebastianpinera Chile and Ecuador sign Trade Integration Agreement https://t.co/OzZpIxlZeo
— Chilean Presidential Press Office (@presidencia_cl) August 13, 2020
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