The agreement establishes a free trade zone between the two partners and will foster trade and increased exports between these markets. To this end, the Chilean Chamber of Commerce has organized a trade mission for April.
Chile aims to strengthen its trade relations with Europe. Therefore, the Chamber of Commerce is organizing visits to various countries, including Spain, to promote and present the Political and Economic Partnership Agreement reached with the European Union. In fact, a trade mission has been organized for April 5-11, 2003, open to all Spanish businesspeople interested in showcasing their products and increasing their exports.
The agreement reached will allow for the establishment of a free trade zone between the two partners (Chile and the EU), as well as addressing political issues and establishing channels for cooperation. This will create a favorable environment for increased exports and the diversification of foreign sales.
In 2001, trade between Chile and the EU totaled US$7.658 billion, of which US$4.694 billion corresponded to Chilean exports. Regarding investment, between 1974 and 2001, EU member states invested US$17.629 billion, with Spain, the United Kingdom, Italy, and the Netherlands having significant investments in the electricity, water, gas, services, transport, and telecommunications sectors.
The negotiations that began in April 2000, when representatives of Chile and the EU initiated talks for a Political and Economic Partnership, have culminated in the establishment of a strategic alliance that will strengthen existing ties and significantly expand business opportunities, stimulate exports, investment, employment, growth, and productive modernization. This alliance will also be reflected in trade matters. Indeed, it reinforces the possibility of establishing agreements between regions of Chile and Europe.
In such agreements, the European partner can help position Chilean products in the European market, while, through European investments or national and European joint ventures in Chile, this country could help the European partner place its products in the rest of Latin America, Central America, the Andean Community of Nations and Mercosur.
Businesspeople interested in the trade mission to Chile taking place in April can contact the Chilean Chamber of Commerce in Barcelona.
Contact person: Margarita Moliner
Tel. 93 310 15 85/ 93 310 75 43
e-mail: camchile@infonegocio.com
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