New EU-Chile trade ties welcomed

Martin Banks
EU-Chile

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.”

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Brussels Morning is a daily online newspaper based in Belgium. BM publishes unique and independent coverage on international and European affairs. With a Europe-wide perspective, BM covers policies and politics of the EU, significant Member State developments, and looks at the international agenda with a European perspective.
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Martin Banks is an experienced British-born journalist who has been covering the EU beat (and much else besides) in Brussels since 2001. Previously, he had worked for many years in regional journalism in the UK and freelanced for national titles. He has a keen interest in foreign affairs and has closely followed the workings of the European Parliament and MEPs in particular for some years.
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