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Chile Free Trade Agreement With China

The Expanded Free Trade Agreement between Chile and China entered into force on March 1, 2019. In particular, the expanded agreement deepened the chapters on trade in goods, trade in services, electronic commerce, rules of origin, customs procedures and trade facilitation, technical and economic cooperation, and trade rules. The free trade agreement also provides for the opening up of the two countries with regard to trade in the sectors. China will open more than 20 sectors to Chilean investors, including legal services, entertainment services and distribution. Chile, meanwhile, will operate more than 40 sectors, including express delivery, transportation and construction. Chile`s main imports from China are cars, electrical machinery and textiles. The upgraded agreement will support this demand, as the exemptions apply to vehicle imports. Chile also exports services such as travel and tourism. It implemented a visa waiver policy with China for citizens who had a valid U.S. or Canadian visa. Many Latin American companies have managed to enter the Chinese market with great success, such as the Mexican Bimbo Group and the Chilean retailer Cencosud. In addition, countries will open up trade in new sectors.

China will open more than 20 sectors to Chilean investors, including a joint feasibility study conducted by Hong Kong and Chile in July 2009 concluded that improving trade and economic relations between Hong Kong and Chile would have a positive impact on both economies. The upgraded agreement provides for even more duty-free treatments, which now extend to 98% of all articles. In addition, existing tariffs on some Chinese wood products will be eliminated over a three-year period. .

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