Brasília – Talks involving delegates from Brazil and Chile and leading to a free trade agreement have ended. The deal is expected to be signed by December. It should cover 17 non-tariff-related issues, including e-trade, services, sanitary and phytosanitary measures, intellectual property, etc. The lifting of taxes in bilateral trade had been agreed upon previously by Chile and Mercosur, the bloc comprising Argentina, Brazil, Paraguay and Uruguay.
Both countries also pledged to end international roaming charges on data and mobile telephony between them.
This is the first time Brazil makes commitments under a bilateral agreement involving e-trade, regulatory practices, anticorruption transparency, regional and global value chains, gender, the environment and labor-related affairs.
“The new agreement will help fuel trade and investment between Brazil and Chile in both goods and services. It will also be a vector for building rapport between the Mercosur and the Pacific Alliance and to enhance regional integration,” the Brazilian Foreign Ministry said in a statement.
Trade
Chile is Brazil’s second-leading trade partner in South America, trailing Argentina. In 2017, bilateral exchange reached USD 8.5 billion, up 22% year-on-year. Brazil is Chile’s premier trading partner in Latin America.
Translated by Gabriel Pomerancblum
