6 March 2015
Chile and Hong Kong Kick Off Discussions on Bi-lateral Investment Agreement
The Chilean Ministry of External Relations' General Directorate for International Economic Relations (DIRECON) announced on 6 February that Chile and Hong Kong have begun discussions on a bi-lateral investment agreement within the framework of the recently implemented free trade agreement. The two sides exchanged opinions on the structure and various provisions of an eventual agreement during the first round of talks held in early February. A DIRECON press release indicates that the agreement seeks to incorporate disciplines regarding non-discrimination among investors, expropriation and treatment of investments, ensuring a minimum standard of treatment in accordance with customary international standards.
Chilean officials believe that once the agreement enters into force it will protect current investments and promote additional projects. DIRECON adds that these negotiations mark a "before and after" in the bi-lateral relationship between the two economies and will help strengthen Chilean investment position in the region.