over a year has passed European Union Y Hot pepper concluded technical negotiations for modernize the trade agreementfor two decades, but the Chilean elections and the arrival of a new government suspended final approval of the text. An action taking place this Friday in Brussels. The deal will guarantee Increased EU access to clean raw materials and fuels aspect lithium, Copper and hydrogennecessary to limit dependency on countries such as Chineseand more facilities for European companies to serve in Chile in areas such as shipping, financial services and telecommunications.
“It is no accident that we have a privileged relationship with Chile. We have been working as like-minded allies for a long time, but also in the defense of the United States. multilateral trading system and fair global rules. This is very important at a time of significant geopolitical tension” because “ Russian war in Ukraine “Once again, the Commission Vice-President and head of trade has focused attention on the need to forge closer alliances with trusted allies.” Valdis DombrovskisIn the announcement made in conjunction with the head of European diplomacy, Josep BorrellDescribing the agreement as “historic”, the Chilean foreign minister said, antonia urrejola.
It’s a battle that shows how important acceleration is. energy transition, Strengthen strategic supply chains and diversify supply sources,” said the Latvian politician. The modernized agreement will help with all this. According to him, 99.9% of EU exports to Chile they will be duty freeBrussels expects Community exports to increase 4.5 billion €.
The EU welcomes the improvement in access to the Chinese market, as explained by European sources. Dairy products, cheeses and recognition of protected geographical indications. In the case of Chile, its interest in improving its reach meat products and olive oil with 11,000 tons of non-tariff exports (compared to Europe’s production of two million tons). liberalization will continue sugar market.
In addition, European companies will have more facilities to lend. Services in Latin America, including transportation, telecommunications, shipping and financial services. European companies also better access to public contracts with respect to goods, services and privileges of others and vice versa. And SMEs will see bureaucracy reduced. The agreement also includes commitments to human rights, sustainability and innovation.
political dialogue
For example, political dialogue has been expanded to include: peace, justice and international securityAlso note the following: Science, technology, Research and innovation and a section on trade and sustainable development, which confirms the parties’ commitment to the rules of the European Union. international Labor Organization and with it Paris Agreement. There is another special section about it. trade and genderwith commitments eliminating discrimination against womenand about the last one sustainable food systemsto make food supply chains more sustainable and resilient.
Now the next step will be to start the approval process for both. legal instruments which agreement contains. A long process is not expected since the signing of the texts. autumn 2023 and ratification is required by all national parliaments, including Chile’s. From the signing, chapters under the exclusive jurisdiction of the EU may enter into force. “What deal is this we all won. It allows Chile to develop its potential to attract investment and access the EU’s market in a non-discriminatory manner”, the community resources underlined.