5 Nov 2018
Chile Completes Congressional Consideration of Protocol to Modernise Trade Deal with Mainland China
The Chilean Senate approved on 24 October the protocol to modernise the current bi-lateral free trade agreement with mainland China. The Chilean Chamber of Deputies had ratified the protocol on 13 September, which means that congressional consideration of the agreement has been successfully completed. The deal will next be submitted to the executive branch for its promulgation.
Signed in November 2017, the new deal includes some of the most extensive market access provisions Beijing has ever negotiated with any trade partner, including additional preferential tariff treatment for 30 Chilean forestry products as well as a new chapter on electronic commerce. The two sides also agreed to improve their market access commitments for services, including commitments in mainland China’s trade deals with Australia and South Korea.