International Agreements in Progress: Modernisation of the trade pillar of the EU-Chile Association Agreement

15-11-2018

In November 2017, the EU and Chile launched negotiations on a modernised trade pillar of the 2002 EU-Chile Association Agreement, based on a Council negotiating mandate which is the first-ever to have been published prior to the start of negotiations with a view to enhancing transparency and inclusiveness. After having operated smoothly for 15 years and led to a significant expansion of bilateral trade in goods and services and investment, the trade pillar needs to be broadened and deepened in order to unlock untapped potential, break new ground and keep pace with new trade and investment patterns in a global competitive environment that has fundamentally changed with the growing global footprint of countries like China. Against the backdrop of rising protectionist trends, the EU and Chile – two like-minded partners – seek to reassert their commitment to keeping their economies open to trade and investment. Both intend to shape, pioneer and promote state-of-the-art trade(-related) and investment rules of the 21st century, including on trade and sustainable development (TSD), trade and gender equality, and the fight against corruption. Given the large convergence of the EU's and Chile's interests and level of ambition, the negotiations are expected to make rapid progress.

In November 2017, the EU and Chile launched negotiations on a modernised trade pillar of the 2002 EU-Chile Association Agreement, based on a Council negotiating mandate which is the first-ever to have been published prior to the start of negotiations with a view to enhancing transparency and inclusiveness. After having operated smoothly for 15 years and led to a significant expansion of bilateral trade in goods and services and investment, the trade pillar needs to be broadened and deepened in order to unlock untapped potential, break new ground and keep pace with new trade and investment patterns in a global competitive environment that has fundamentally changed with the growing global footprint of countries like China. Against the backdrop of rising protectionist trends, the EU and Chile – two like-minded partners – seek to reassert their commitment to keeping their economies open to trade and investment. Both intend to shape, pioneer and promote state-of-the-art trade(-related) and investment rules of the 21st century, including on trade and sustainable development (TSD), trade and gender equality, and the fight against corruption. Given the large convergence of the EU's and Chile's interests and level of ambition, the negotiations are expected to make rapid progress.