The European Commission and Chile announced the political conclusion of the modernisation of the trade pillar of the Association Agreement today. It is a state-of-the-art agreement with a dedicated sustainability development chapter, and – for the first time in an EU Association Agreement – a dedicated gender chapter, which can help ensure women economic empowerment. The amendment of the original Agreement from 2002 was crucial to reflect the developments and modernisation in our increasingly sustainable and digital economies as well as our rules-based trading system.
Chile is a key partner for the EU in Latin America. The EU is Chile’s third largest trading partner and its first foreign investor. Our bilateral trade encompasses many sectors, including but not limited to , minerals such as copper and lithium, machinery, and chemicals, and especially agricultural products.
The modernisation is continuing to strengthen these important bilateral trade flows, and provides improved market access for goods, services, investment and government procurement, amended investment protection, protection and enforcement of intellectual property rights, and the reduction of unessential non-tariff barriers. The chapters on sustainable development and trade and gender establish and foster the approach towards a green and fair trade relationship.
“As Standing Rapporteur I welcome the political conclusion of the Agreement. With this modernisation, we will manage to get stronger, fairer, and greener trade relations between the EU and our Chilean partners. I am especially happy with the inclusion of a dedicated gender chapter in the agreement, which should be a precedent for making our trade agreements more inclusive and sustainable. When we empower women, we all benefit”, MEP Samira Rafaela (D66/Renew Europe) states, who is Standing Rapporteur for Chile in the International Trade Committee in the European Parliament, as well as Coordinator for Renew Europe in the same committee.
The Agreement requires approval of the European Parliament and the European Council, as well as the Chilean Congress and Senate. Ms Rafaela is looking “(…) forward to the scrutinizing process in the European Parliament, after which the Agreement can enter into force”.