Belgium (Brussels Morning Newspaper), Closer trade relations between the EU and Chile have been welcomed. This comes after an Interim Agreement on Trade (iTA) was agreed between the two sides. It paves the way for the entry into force of the deal.
This agreement focuses on trade and investment liberalization. It aims to update the current EU-Chile association agreement and will strengthen EU-Chile political and economic relations and deepen cooperation and trade.
The EU is Chile’s third-largest trade partner. Around 99.9% of EU exports will be tariff-free on the entry into force of the agreement, which is expected to increase EU exports to Chile by up to €4.5 billion.
Margarida Marques, an S&D member of the International Trade Committee (INTA), said: “This agreement, a progressive agreement, is extremely important for Chile and the EU to modernize and update their relationship in an evolving geopolitical context.
“This agreement is mutually beneficial and empowers us to together face new challenges with trust and mutual respect.
“With this deal, we will have new standards on trade and sustainable development; gender equality; greater access to raw materials – key for economic development in Chile; new opportunities for SMEs; protection of EU products; as well as a reduction of tariffs up to 0%, allowing for better market access.
“We will also be in a better place when it comes to the fight against climate change, by upholding the Paris Agreement, and promoting the social and economic sustainable development of both partners’ societies.”
