Minister Ampuero highlights successful conclusion of Free Trade Agreement negotiations between Chile and Brazil
The Minister of Foreign Affairs, Roberto Ampuero, expressed his satisfaction at the conclusion of the negotiations of the Free Trade Agreement with Brazil, which negotiations began in March, after a visit of the President of the Republic, Sebastián Piñera, to his counterpart Michel Temer, in Brasilia.
"We are very happy. Now all that remains is to review the formal and legal aspects of the Agreement," explained the minister, who stressed that "this is very important because Brazil, a market of 208 million people, is Chile's first trading partner in Latin America. It is also the main recipient of Chile's direct investment abroad".
The Secretary of State assured that this agreement is part of the main axis of the Foreign Ministry's work "to promote a foreign policy with concrete benefits for our citizens. Today, trade between the two countries is growing and with this agreement it should do so even more".
Between January and August of this year, trade amounted to US$6.808 billion, an increase of 21% over the same period in 2017. Chilean exports to Brazil totaled US$2.297 billion, 4.7% more than last year. While Chilean imports from Brazil amounted to US$4.511 billion, 31% more.
In addition, Brazil is very important for SMEs: 10% of Chilean SMEs that export registered shipments to Brazil during 2017.
The agreement includes provisions on Trade Facilitation, Competition Policy, Temporary Entry of Persons, Micro, Small and Medium Enterprises (MSMEs), Good Regulatory Practices, Electronic Commerce, Trade in Services, Telecommunications, Trade and Gender, Trade and Environment, Trade and Labor Affairs, Economic Trade Cooperation. In regulatory matters, the chapters on Sanitary and Phytosanitary Measures and Technical Barriers to Trade stand out.
"It is the first time that Brazil has assumed, in a bilateral trade agreement, commitments on e-commerce, good regulatory practices, Global and Regional Value Chains, Gender, Environment and Labor Issues," said the Minister.