Free Trade Agreement Canada And Chile

9 12 2020

The two countries have much to celebrate this year, as the historic Canada-Chile Free Trade Agreement (CCFTA) is an agreement that has more than tripled trade between the two countries since it came into force. If you have any questions or comments on this free trade agreement or on environmental and labour cooperation agreements, we would like to hear from you. Please contact World Affairs Canada at: During Chilean President Michelle Bachelet`s state visit In Canada In early June, International Trade Minister Fran├žois-Philippe Champagne announced the opening of a chapter on trade and gender, the first of its kind for a G20 country. Champagne and Chilean Foreign Minister Heraldo Muooz signed several amendments to modernize the agreement, including the “sex” chapter and new elements in the investment chapter, new chapters on health and plant health measures, as well as technical barriers to trade, as well as technical changes to the existing chapter on public procurement. On February 5, 2019, the modernized Canada-Chile Free Trade Agreement (CCFTA) came into force, which supports an open, inclusive and rules-based trading environment. The CCFTA is the cornerstone of Canada`s strong trade and investment relationship with Chile. Since its launch in 1997, the CCFTA has brought benefits to both countries. Bilateral merchandise trade has almost quadrupled since the Canada-Chile Free Trade Agreement came into force, reaching $2.9 billion in 2017. At the end of 2017, the share of Canadian investment in Chile was $17.1 billion, making Chile the leading target for direct investment in South and Central America. In 2017, Canada and Chile signed amendment agreements to modernize the CCFTA and support an open, inclusive and rules-based trading environment. The Canada-Chile Free Trade Agreement (CCFTA) is a Canada-Chile trade agreement. It was signed in Santiago, Chile on July 5, 1997.

Tariffs on 75% of bilateral trade were immediately abolished. [1] It was Canada`s first free trade agreement with a Latin American nation (except Mexico) and was Chile`s first comprehensive free trade agreement. Over the first ten years, trade between Canada and Chile increased by more than 300%, with merchandise trade increasing from $718 million in 1996 to $2.7 billion in 2010. Bilateral trade in services increased through 2005 to $164 million. Canadian investment in Chile was $13.3 billion in 2010 and Canada was the largest source of new investment in Chile. [2] The trade and gender chapter recognizes the importance of applying a gender perspective to economic and trade issues to ensure that economic growth benefits all.