The new agreement will complement ACE 35, which already provides for the exchange of products free of customs duties. The agreement now incorporates modern rules, relevant to international trade in the areas of Investments, Services, Public Procurement, Telecommunications and Electronic Commerce.
It also improves and complements the provisions on technical, sanitary and phytosanitary standards, as well as existing customs procedures. It also includes chapters on topics such as the Environment, Labour, Gender, SMEs, Cooperation and Competition Policy.
«Argentina is a major trading partner for Chile, the sixth in the world. The entry into force of this next-generation bilateral agreement will amplify the benefits of free trade in the region, with new proposals and modern legal frameworks, which will directly benefit national exporters, especially our SMEs., said the General Director of Direcon, Rodrigo Yáñez.
Some chapters that will directly benefit SMEs They are the Public Procurement Act, the first that Argentina has signed in this area, which will allow national companies to participate in tenders held in Argentina, a market three times larger than the national market.
The Electronic Commerce chapter will promote this type of commercial exchange through provisions that seek to facilitate trade in this way, and improve the conditions under which Chilean digital service and product providers operate in the Argentine market.
The chapter on Small and Medium Enterprises contains commitments to promote business, creating a Committee of SMEs, to assist and implement development programs for the benefit of this group of companies. It should be noted that 34% of Chilean companies that export to Argentina are SMEs.
The commitment to eliminate roaming in telecommunications will facilitate and substantially lower costs mobile phone calls. Finally, the most modern and balanced legal framework for the development and protection of investments will provide greater agility and certainty to commercial operators and investors.
Bilateral trade
In 2018, Chile's trade with Argentina amounted to US$4.201 billion, showing a growth of 7,9% compared to 2017.
El #FreeTradeAgreement between Chile and Argentina ????, offers concrete opportunities for SMEs such as access to the Public Procurement market. Also noteworthy is the elimination of roaming, which will lower the cost of cell phone calls ▶ https://t.co/XM3TdimXsb
— DIRECON (@DIRECON_CHILE) May 2th 2019
Aduana News is the first Argentine customs newspaper to launch its digital version. With 20 years of experience, its publications and initiatives aim to provide the most relevant knowledge on customs issues in order to contribute to safe trade in the region.
