The draft Free Trade Agreement between Chile and Brazil was approved this Tuesday (12.08.2020) in the session in which the Minister of Foreign Affairs, Andrés Allamand, participated, reported the Trans-Andean country's Foreign Ministry.
According to release, Agreement will complement ACE 35 signed by Chile with Mercosur countries in the 90s, and regulates the trade of goods, incorporates new cutting-edge disciplines such as Telecommunications, Electronic Commerce, Trade in Services, Environment, Labor, Gender, MSMEs, Commercial Economic Cooperation, Technical Barriers to Trade, Public Procurement and Competition Policy, Trade Facilitation, Good Regulatory Practices, Temporary Entry of Business Persons.
Upon entry into force, the FTA will allow SMEs to access the Brazilian public procurement market on equal terms, which together generates ten times more tenders than the Chilean public procurement market. Also, and thanks to the Chapter on Electronic Commerce, will facilitate the operation of digital service and product providers nationals.
In addition, for the first time in a Free Trade Agreement (FTA), incorporated a chapter on Regional and Global Value Chains, constituting a modern regulatory framework that meets the expectations and standards of current international negotiations.
The agreement also contemplates the elimination of roaming between both countries, which will have a positive impact on the development of economic activities, such as tourism, digital commerce and entrepreneurship of different kinds.
Regarding the agreement, Foreign Minister Allamand said: “Today, more than ever, it is essential to strengthen our trade alliances to boost economic recovery. And this agreement goes in the right direction, by giving a more solid structure to our relationship with Brazil, which is our main trading partner in the region.”
Undersecretary Rodrigo Yáñez said that the approval of this agreement in the Upper House reinforces Chile's open and free trade policy.
In this regard, he said that “Trade policy is today an instrument for responding to the crisis, for providing resilience to trade and for future economic recovery, especially for our small and medium-sized businesses.”
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.
